According to a new market research report, "Retail Analytics Market by Business Function (Marketing and Customer Analytics, Merchandizing and In-Store Analytics, Supply Chain Analytics, Strategy and Planning), by Type, by Solutions and by Services - Global Forecast and Analysis to 2020", published by MarketsandMarkets, The Retail Analytics Market size is estimated to grow from USD 2.2 Billion in 2015 to USD 5.1 Billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 18.9% from 2015 to 2020.

Browse 66 market data Tables and 48 Figures spread through 139 Pages and in-depth TOC on "Retail Analytics Market"

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Due to digitalization, there is continuous rise in volume, variety and velocity of data in retail sector, and to analyze these data there is high demand for the solutions and services of retail analytics, driving the market. A number of Small and Medium- Businesses (SMBs) and large enterprises that have conventional brick and mortar retail outlets are rapidly entering the online retail market and hence providing a great market opportunity for the vendors offering retail analytics solutions and services.

Cloud deployment is the fastest-growing deployment model in the market as it benefits organizations with increased scalability, speed, 24/7 service, and enhanced network. Organizations are adopting cloud deployment as it can avoid costs pertaining to hardware, software, storage, and technical staff. As the data volume and the data sources increases, adoption rate of on-premise solutions decreases. The market size of on-premise deployment is expected to decrease in future.

Merchandising and In-Store Analytics is Expected to Grow at the Highest CAGR:
Analysis of in-store data for enhanced marketing and operations is expected to gain traction in the forecast period. Merchandising and in-store analytics, marketing and customer analytics, and strategy and planning are the top three fastest-growing business functions in the market. Merchandising and in-store, and marketing and customer analytics are the business functions where a retailer comes in direct contact with the customer and play a major role in enhancing the performance of store and entire retail chain, and hence are vital for revenue optimization as well.

North America is the Largest Growing Region during the Forecast Period:
Increasing demand for customized retail analytics solutions is stimulating the growth in the emerging economies of APAC and MEA. North America is expected to have the largest market share; however, MEA will grow with the highest CAGR from 2015 to 2020, closely followed by APAC.

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Major vendors in the retail analytics during Forecast period:
Key vendors in the retail analytics ecosystem were identified and studied individually, to understand the solution/ software offerings and features, business models, pricing models, and their respective customer base. This data was collated and further scrutinized based upon individual company’s revenues, contributions from various regions/ countries, industries and business segments.

IBM, Oracle, SAP, SAS, Microsoft, Tableau, Angoss, Information Builders, Adobe, and Qlik are some of the vendors in the retail analytics ecosystem who sell their retail analytics solutions and services to end users to cater to the unique business requirements and retail needs.

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