This market research report includes a detailed segmentation of the global retail analytics market by function (consumer analytics, supply chain analytics, marketing analytics, and merchandising and in-store analytics). It also outlines the market shares for key regions such as the Americas, EMEA, and APAC. The leading vendors analyzed in this market study are Angoss software, Experian, IBM, Microsoft, Oracle, SAP, and SAS Institute.
Technavio’s market research analysts estimate the global retail analytics market, to grow at a CAGR of around 21% between 2016 and 2020. The ability of analytical tools to help organizations in retail sector to link financial and operational plans and track performance against their strategic goals has resulted in their augmented adoption. The Americas is the largest market for retail analytics, accounting for 51% of the overall market share. Much of this region’s growth comes from the growing adoption of merchandise intelligence, customer intelligence, and operational intelligence.
The new market research report from Technavio provides a breakdown and analysis of the retail analytics segments by technology.
“Owing to intense competition in the retail business environment, enterprises in the retail sector have to develop new competitive strategies by acquiring data about the performance of business operations through predictive analytics. Predictive analytics tools help these organizations to analyze consumer behavior, design strategic marketing campaigns and identify customer segments to identify and retain new consumers. The ability of such tools to automate the decision-making process will help organizations to eliminate delays associated with human decision making,” says Amrita Chaudury, Lead Analyst, ICT, Technavio Research.
Technavio’s market research analysts have estimated the customer analytics segment to be the largest market segment during the predicted period. This segment covers 33% of the overall market share, and is expected to grow at a CAGR of 21% over the next four years. The high demand for customer analytics software is driven by the growing need to retain more customers and to understand their buying behavior.
Global retail analytics market by function
Source: Technavio, 2016
The key players in the global retail analytics include Angoss software, Experian, IBM, Microsoft, Oracle, SAP, and SAS Institute. The market is highly fragmented because of the presence of numerous small and large vendors. The vendors in the market compete on the basis of price, quality, innovation, service, reputation, and promotion to gain a competitive edge over their peers. The high level of vendor competition in this market has led to an increase in the number of mergers and acquisitions, wherein smaller entities are being acquired by or are being merged with, major players.
A more detailed analysis is available in the Technavio report, Global Retail Analytics Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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