- The key vendors in The Global Retail IT Spending Market are Cisco Systems Inc., Dell Inc., Hewlett-Packard Co. and IBM Corp.
London, 07 August 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Global Retail IT Spending Market 2014-2018. Increasing adoption of cloud services is one of the predominant trends in this market. Cloud computing technology helps in addressing data security and management issues. The increased use of cloud services by retailers is expected to have a positive impact on the Global Retail Industry IT spending market.
The Global Retail Industry IT Spending Market is a significant part of the Global IT Spending market. Retail industry IT spending involves the provision of IT hardware, IT software, and IT services for integrating and streamlining several processes of the retailers. It helps retailers form a centralized system to procure and sell goods, perform transactions for all their stores, and provide real-time customer solutions. It also helps retailers align their business processes with various technologies.
“Currently, cloud computing is the buzzword in the Technology sector, especially with the majority of large retailers viewing cloud computing as a priority, while a few others are have already adopted it or have funds in place for its adoption,” says Faisal Ghaus, Vice President of TechNavio Research.
“As a result of this increased awareness among retailers, service providers are increasingly looking at developing existing cloud computing services.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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