Retail Analytics Market to grow at 19% CAGR from 2017 to 2024

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Retail Analytics Market to grow at 19 CAGR from
2017 to 2024 Global Market Insights Inc.
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Key Insights from Retail Analytics Market

• Retail Analytics Market size is set to exceed USD
  13 billion by 2024 according to a new research
  report by Global Market Insights, Inc.
• The retail analytics market is expected to grow
  at a significant rate, owing to the emerging
  e-commerce trend across the retail sector. The
  new generation of highly informed and demanding
  customers are encouraging the retailers to adopt
  technologies that will satisfy the evolving
  demands. The inclination of retailers to
  implement technologically advanced and
  intelligent solutions to attract new customers,
  retain old customers, and improve profit margins
  is expected to drive the retail analytics market
  growth.
• Growth in demand for easy-to-use and
  easy-to-decipher solutions are compelling
  companies to implement modern technologies such
  as machine learning in the analytics software.
  The trend of extraction of consumer data from
  e-commerce portals and social networking websites
  to gather insights is expected to bode well for
  the retail analytics market, owing to the
  increasing internet penetration.

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Continued...

• Lack of privacy of customer data is expected to
  challenge the retail analytics market growth over
  the forecast timeline. Increasing use of data
  from social media platforms to map customer
  habits and shopping behaviors are expected to
  remain a major area of concern.
• Growing demand for customized products and
  constantly changing consumer requirements is
  expected to drive the supply chain analytics
  software demand. Lack of inventory space has
  compelled retailers gather insights from the
  supply chain data to optimize operations and
  reduce costs. Reporting and visualization tools
  are anticipated to witness increase in demand,
  owing to the growing need to analyze data in an
  easy-to-read format in lesser time.
• The demand for on-premise solutions is expected
  to gain momentum from the small and unorganized
  retailers which is expected to drive the retail
  analytics market. These solutions are ideal for
  the organization with limited customer foot-fall
  and limited geographical presence. Increasing
  competition among the solution providers has
  compelled them to introduce customized on-premise
  solutions that cater to specific demands of the
  retailers.

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Analytics Market _at_ http//bit.ly/2wCYuts
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Continued...

• The Asia Pacific retail analytics market is
  expected to witness significant growth during the
  forecast timeframe, owing to the expansion of
  organized retail sector. In India, the
  exponential increase of e-commerce industry size
  and smartphones to buy consumer goods has
  prompted the need for data-driven business
  intelligence solutions. This has attracted big
  players such as HCL and IBM, in addition to the
  emergence of regional players including Manthan
  Systems, BRIDGEi2i Analytics Solutions, and
  Fractal Analytics.
• Some of the prominent vendors in the retail
  analytics market include Adobe Systems, SAP SA,
  SAS Institute, Teradata, 1010Data,
  Salesforce.com, Inc., IBM, etc. Companies
  continuously invest in development of
  technologically advanced and differentiated
  products to retain their position in the market.
  For instance, in April 2017, 1010Data, Inc.
  announced the launch of upgraded software
  development kits. The new SDKs are designed to
  support applications across enterprises.

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U.S. Retail Analytics Market Size, By Function,
2016 2024 (Mn)

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360 Analysis

• By Function
• Merchandising and in-store analytics is expected
  to dominate the market over the forecast
  timeline. These solutions help retailers align
  merchandising decisions with customer
  expectations.
• The retailers are leveraging the development of
  big data and analytics to innovate continuously,
  deliver enhanced digital experience to the
  customers, and integrate digital channels with
  their businesses.
• By Region Trends
• The U.S. retail analytics market is expected to
  witness high demand, on account of the rising
  e-commerce penetration in the region. According
  to the National Retail Federation, the ecommerce
  sector in the U.S. is expected to grow at a rate
  of 8 to 12 in 2017. Furthermore, high adoption
  rate of advanced technologies and growing need to
  provide a differentiated customer experience is
  expected to drive the regional growth.
• Competitive Market Share
• The industry vendors include Angoss Software,
  Adobe Systems, IBM Corporation, SAP SA, Qlik
  Technologies, Inc., SAS Institute, and Tableau
  Software, etc.

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