The Market Statsville Group (MSG) publishes the new report on the “Big Data Analytics in Retail Market by Component (Services and Software), by Deployment (On-Premise and Cloud), by Organization Size (Large Enterprise and Small & Medium Enterprise), by Application (Sales & Marketing Analytics, Supply Chain Operations Management, Merchandising Analytics, Customer Analytics, and Others), by Region – Global Share and Forecast to 2030“.
The global big data analytics in retail market size was estimated to reach USD 26,806 million by 2030 from USD 5,096 million in 2021, growing at a CAGR of 23.1% during the forecast period. The factors that drive the growth of the big data analytics in retail market include rise in need to deliver the personalized customer experience to increase sales, increase in spending on big data analytics tools, increasing growth of the e-commerce sector, growing demand of predictive analytics in retail and integration of the new technologies such as AI, IoT and machine learning in big data analytics in retail. Though, issues in collecting and collating the data from disparate systems is expected to hamper the market growth during the forecast period.
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Segmentation of Global Big Data Analytics in Retail Market
The overall big data analytics in retail market has been segmented into the component, deployment, organization size, application, and region.
- By Component (Software and Services)
- By Deployment (On-Premise and Cloud)
- By Organization Size (Large Enterprise and Small & Medium Enterprise)
- By Application (Supply Chain Operations Management, Sales & Marketing Analytics, Merchandising Analytics, Customer Analytics, and Others)
- By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)
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On-premise, by deployment, is estimated to hold the largest market share during the forecast period
On the basis of deployment, the market is bifurcated into on-premise and cloud. In 2021, on-premise had the largest market share in the global big data analytics in retail market. The on-premise deployment mode in the big data analytics in retail enables the installation of software and permits applications to run on systems present in the premises of an organization instead of putting on server space or cloud.
On-premise-based software is known for the better maintenance of servers, and a continuous system facilitates the implementation of these big data analytics in retail. Also, the on-premise deployment mode is considered widely useful in Large Enterprises as it involves significant investment to implement. Organizations need to purchase interconnected servers and software to manage the system. Additionally, better security of data as compared to cloud-based software promotes its adoption among organizations.
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North America accounts for the largest market share in big data analytics in retail market
By regions, the global big data analytics in retail market has been segmented across North America, Asia–Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the largest market share of 37.2% in the global big data analytics in retail market and was anticipated to maintain its dominance throughout the forecast period. The global big data analytics in retail market in North America is analyzed across the U.S. and Canada. U.S. is one of the largest markets for big data analytics in retail. It is home to some of the major players in the big data analytics, which makes it a lucrative hub for innovations in the market.
Businesses in North America have adopted big data analytics in retail to remain competitive in the market. Cloud deployment of big data analytics in retail has witnessed high growth and is expected to continue dominating in the future in North America. In addition, businesses in this region are transitioning from on-premise to cloud-enabled big data analytics in retail, owing to great scalability & availability features, which further drive the market’s growth. In addition, accessibility of such software on mobile devices such as smartphones and tablets is expected to boost the growth of big data analytics in the retail market in North America.
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This research report includes a study of the leading companies’ product portfolios and winning strategies in the big data analytics in retail market, as well as a study of their development and marketing strategies. It also consists of the profiles of leading companies such as SAP SE, Microstrategy Inc., Alteryx Inc., IBM, Microsoft, SAS Institute, Qlik Technologies Inc., RetailNext, Oracle Corporation, and Teradata.
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