The retail analytics market is projected to grow to US$ 12.6 Billion by 2026, driven by cloud solutions and e-commerce trends.
IMARC Group’s latest report, titled “Retail Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global retail analytics market size reached US$ 4.10 Billion in 2020. Looking forward, the market is expected to reach US$ 12.6 Billion by 2026, exhibiting a CAGR of 20.60% during 2021-2026. Retail analytics is a process assisting companies in identifying customer insights. It mainly provides analytical data on inventory levels, sales, consumer demand, and supply chain movement by combining data from different areas with scope and need for improvement. As it also enables a quick and effective decision-making process, the demand for retail analytics is escalating across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Retail Analytics Market Trends:
Presently, there is a rise in the need for evaluating consumer behavior, product demand, and the availability of logistics services on account of the spread of coronavirus disease (COVID-19). This represents one of the key factors propelling the growth of the market. Apart from this, the increasing adoption of cloud-based analytical solutions to handle large volumes of data and deliver useful insights within a short time frame is also contributing to market growth. Furthermore, a significant rise in online shopping on account of boosting sales of smartphones and the thriving e-commerce industry is positively influencing the market.
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Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Breakup by Function:
Breakup by Component:
Breakup by Deployment Mode:
Breakup by End User:
Breakup by Region:
Key highlights of the Report:
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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The article discusses the growth and trends in the global retail analytics market from 2021 to 2026.
How is COVID-19 affecting the retail analytics market?
What role do cloud-based solutions play in market growth?
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