Global Retail Cloud Market Insights Covering Market Dynamics and Competitive Scenario through 2023
Retail cloud offers better productivity for retailer as it offers enhanced and valuable service to customers. The growing demand for Omni channel retail services also driving need of better distribution channel, skilled workforce and customer management. Omni-channel is the mixture of all physical and digital channels creating innovative and unified customer experience. To offer flawless Omni-channel requires excellent coordination between channels & operations which provide consumers 24×7 access to online retail portal. It allows customers to research about product & services, comparing the prices and receiving product from multiple channels. Retailers across the industry are investing in e-commerce and Omni-channel retailing in order to improve the customer experience as well as to become competitive in the markets
In the growing digital technology market, consumers are doing shopping from online retail websites and via mobile apps Major retail chains such as Wal-Mart, Target, and Costco are deploying several strategies on this fronts and trying hard to integrate their vast store network with online channel and attracting buyers to do online shopping which thereby boosting the company sales.
According to a study, more than 90% consumers are using smartphone nowadays for shopping and comparing prices with other retail websites or apps. The increasing trend of online shopping is driven by number of factors such as easy checkout option and no long queue, can research over number of variety of products at a time, availability of number of payment options, feasible discounts & easy return policy, and availability on every mode. Amazon, Flipkart, and eBay are the well-known example of online retailing.
The presence of big e-commerce giants namely Amazon, and Flipkart are a big threat for retail cloud market as they consist of large customer base globally. To subdue this threat, the retail industry is gradually shifting towards Omni channel retailing. Amazon, a leading e-commerce company is also developing its business and expanding to untapped market such as European countries and South Korea thereby giving tough competition of emerging retail cloud market which on the other hand providing fruitful opportunity for consumers. This new approach offers retailers various benefits such as maximizing every retail selling opportunity, optimization of inventory investment, automated promotional, single point of view into all channels.
The global Retail cloud market is expected to grow at USD 33.89 Billion by 2020, approx. 18% of CAGR between 2016 and 2020.
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The key players of Retail cloud market includes IBM Corporation (U.S), Oracle Corporation (U.S), SAP SE (Germany), Microsoft Corporation (U.S), Syntel, Inc. (U.S.), Cisco Systems Corporation (U.S), Google, Inc. (U.S), Fujitsu Global (Japan), Infor, Inc., (U.S)
Global Retail cloud Market Analysis & Forecast, from 2016 to 2022
• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Retail cloud market
• To provide insights about factors affecting the market growth
• To analyze the Retail cloud market based on porter’s five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World
• To provide country level analysis of the market with respect to the current market size and future prospective
• To provide country level analysis of the market for segment on the basis of product, deployment, service, end users and vertical
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Retail cloud market
• Technology Investors
• Technology Providers
• Research/Consultancy Firms
• Infrastructure Providers
• Original Equipment Manufacturers (OEMs)
• OEM Technology Solution Providers
• Government Institutions
• The global Retail cloud market is expected to reach USD 28.72 Billion by 2022.
• By product, Customer Management sub segment in Retail cloud market accounts for the largest market share and is growing with approximately 19.77% CAGR during forecast period.
• By deployment, Hybrid Cloud sub segment in Retail cloud market accounts for the largest market share and is growing with approximately 20.11% CAGR during forecast period.
• By services, Platform as a service sub segment in Retail cloud market accounts for the largest market share of 3.17billion and is growing with approximately 17.49% CAGR during forecast period.
• By end users, Small & Medium Size Industry sub segment holds the largest market share and is growing with approximately 18.43% CAGR by the end of forecast period.
• Geographically, North America region has been projected to hold the largest market share in global Retail cloud market followed by Europe region, while Asia Pacific ranks third in the Retail cloud market.
Regional and Country Analysis of Retail cloud Market Estimation and Forecast
Retail cloud market is growing with the positive growth in all the regions due to high e-commerce adaptability by citizen which is driving the market on global scale. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. North America is dominating the global Retail cloud market share followed by Europe, which stands as the second biggest market due to increase in shift of conventional commerce whereas, Asia-Pacific stands as third largest.
The reports also cover country level analysis:
• North America
o The U.K
o Rest of Europe
• Asia – Pacific
o South Korea
o Rest of the Asia-Pacific
• Rest of the World
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