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SOURCE Research and Markets
DUBLIN, September 1, 2017 /PRNewswire/ --
The "Retail Analytics Market by Application (Merchandising Analysis, Customer Analysis, Performance Analysis), Business Function (Finance, Sales, Marketing, Supply Chain and Store Operations), Component, End-User, and Region - Global forecast to 2022" report has been added to Research and Markets' offering.
The retail analytics market is expected to grow from USD 3.52 Billion in 2017 to USD 8.64 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 19.7%.
Advancement in technologies, such as machine learning, Artificial Intelligence (AI), and augmented reality, and increased used of data-intensive platforms and rapid adoption of social media are some of the key drivers of this market.
The report provides detailed insights into the global retail analytics market, which is segmented on the basis of applications, business functions, components, deployment models, organization sizes, and regions. In the retail analytics market, the supply chain business function is expected to hold the largest market share during the forecast period. With the intense market competition and declining customer loyalty in the retail industry, supply chain plays a vital role in terms of revenue optimization. If a customer enters a retail store or logs-in into any eCommerce website and fails to find the product as per his requirement, it ultimately results in loss of revenue and can even lead to client loss. The key analytical software for supply chain in the retail sector is focused on inventory management, supply and demand forecasting, and vendor management among others.
Large enterprises have a high adoption rate as compared to the SMEs. Large size retailers have started investing in digital capabilities and analytic solutions to effectively compete and become better aligned with changing consumer preferences. The adoption of analytics solutions enables retailers to make quick and effective business decision based on real-time data.
The lack of skilled personnel and high initial setup costs are the major restraining factor for the growth of the retail analytics market. Complexities in gathering and integrating data from omnichannel commerce streams and increased consumer preferences are the challenges in adopting retail analytics software and services.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Remium Insights
5 Market Overview and Industry Trends
6 Retail Analytics Market Analysis, By Application
7 Retail Analytics Market Analysis, By Business Function
8 Retail Analytics Market Analysis, By Component
9 Retail Analytics Market Analysis, By Deployment Model
10 Retail Analytics Market Analysis, By Organization Size
11 Retail Analytics Market Analysis, By End-User
12 Geographic Analysis
13 Competitive Landscape
14 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/z39frv/retail_analytics
Research and Markets
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