In the growing digital technology market, consumers are doing shopping from online retail websites and via mobile apps. 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 market.
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Major retail chains such as Wal-Mart, Target, and Costco are deploying several strategies on this front 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. These growing shifts of consumers towards Omni channel is supporting retailers in preserving their brand value.
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Global retail cloud market is estimated to reach USD 28 billion by 2022 from USD 10 billion in 2016 growing with 17% CAGR during forecast period 2016-2022. Geographically, North America is the leading region among Europe, Asia-Pacific and Middle East & Africa.
Asia-Pacific is the fastest growing region which is estimated to show high growth during forecast period. Increasing technology adoption and growing movement of customers to online portals for shopping in the region is expected to drive the growth of retail cloud market in the region.
Retail Cloud Market Players:
- IBM Corporation
- Oracle Corporation
- SAP SE
- Microsoft Corporation
- Syntel, Inc.
- Cisco Systems Corporation
- Google Inc.
- Fujitsu Global
- Infor, Inc.
- Retail cloud
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Retail Cloud Market Segmentation
The Global Retail Cloud market has been segmented into products, deployment, services and end-user. By products the market is classified into customer management, workforce management, supply chain management, data security management, reporting & analytics.
By deployment, the market is classified into public cloud, private cloud and hybrid cloud. By services, retail cloud market is being segmented into software as a service, platform as a service and infrastructure as a service and serving small & medium size and large scale industries.
Market Research Analysis:
Regional analysis for Retail Cloud market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Middle East & Africa. It is estimated that North America would grow with 18% CAGR during forecast period 2016-2022 followed by Europe which is projected to grow with 16% CAGR.
Asia-Pacific has emerged as the fastest growing market with 20% CAGR by the end of 2022. Presence of major retail outlets namely Walmart, Costco, & Kroger and high penetration of mobile based shopping and promotion is the major reason behind dominance of North America in retail cloud market.
Whereas, due to rising adoption of hybrid cloud in countries such as China, and India is fuelling the market growth of retail cloud in Asia-Pacific region during forecast period 2016-2022.
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- Retail Cloud Manufacturers
- Research firms
- Consultancy firms
- Software Developers
- Semiconductor Manufacturers
- End-user sectors
- Research organizations
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