Bharat Book Bureau provides Market Research Market Report on “Retail Cloud Market by Component, Service Model, Deployment Model, Organization Size and Region – Global Forecast to 2028”UNDER Services Market Research Report Category. The report offers a collection of superior market research, market analysis, competitive intelligence and market reports. of The new retail market the size is expected to grow from USD 47.0 billion in 2023 to USD 114.9 billion by 2028 at a compound annual growth rate (CAGR) of 19.6% during the forecast period. The advent of IoT in retail and the adoption of new retail technologies to improve retail management to provide opportunities for the growth of the retail cloud market. Data security concerns in the cloud represent a significant challenge to the growth of the retail cloud market.
By solutions, the reporting and analytics segment holds the highest CAGR during the forecast period. Retail cloud solutions have revolutionized the retail industry in many ways, one of which is the ability to gain deeper insights into business operations through the use of reporting and analytics solutions. By harnessing the power of the cloud, retailers can collect and analyze vast amounts of data to gain valuable insights into customer behavior, sales trends, inventory management and more. Retail cloud analytics solutions use a variety of data sources, such as point-of-sale systems, customer loyalty programs, and social media, to gather data on customer behavior and preferences. This data can then be analyzed to discover patterns and trends and generate insights that can inform business decisions. One of the key benefits of using cloud-based reporting and analytics solutions is the ability to access real-time data from any location with an Internet connection. This means that managers and other stakeholders can quickly and easily access data and insights and make informed decisions based on the latest information. In terms of services, the professional services segment holds the largest market share during the forecast period. Professional retail cloud services can help businesses in a variety of ways. For example, businesses can leverage the expertise of cloud professionals to design and implement customized solutions that meet their unique needs. This can include solutions for supply chain management, inventory management, customer management and more. Professional retail cloud services can also help businesses migrate their existing applications and data to the cloud. Migrating to the cloud can be a complex process, and businesses often seek the help of experts to ensure a smooth transition. Cloud professionals can help businesses assess their current infrastructure, determine which applications and data should be migrated to the cloud, and develop a migration plan that minimizes disruption to operations. Another important aspect of professional retail cloud services is ongoing support and maintenance. Businesses that rely on cloud-based solutions require ongoing support to ensure that their applications run smoothly and that their data is secure. Retail cloud professionals can provide ongoing support and maintenance to ensure businesses can focus on their core operations and leave the technical details to the experts. By organization size, the SME segment is projected to witness the highest CAGR during the forecast period. Organizations with employee sizes below 1,000 are categorized under SMEs. These enterprises face a greater resource crunch than large enterprises and require better methods to resolve complexity for better cost optimization in their business processes. Cloud services have become a central part of business processes in SMEs, due to the ease of use and flexibility they offer, and their adoption is expected to increase in the coming years. The adoption of retail cloud solutions and services among small and medium-sized enterprises (SMEs) is gaining momentum as they aim to streamline their operations and remain competitive in the rapidly evolving retail industry. Cloud computing offers SMEs access to the same technologies and capabilities as larger enterprises, without the need for significant upfront investment in hardware, software and IT infrastructure. By region, Asia Pacific is projected to witness the highest CAGR during the forecast period. Technological development in the Asia Pacific region is expected to drive the retail cloud market. The Asia Pacific region is expected to witness investments in digital transformation initiatives in countries such as China, Japan and India. According to a State of The Edge report, in 2020, Asia Pacific had the largest edge 1 computing footprint of 187 MW – the highest among regions. Further, many cloud service providers are working with retailers to improve operations, improve customer engagement and drive innovation. for example, Alibaba Cloud is one of the largest cloud providers in Asia Pacific and has worked with retailers in the region to provide cloud-based solutions for e-commerce, logistics and supply chain management. This is likely to drive the adoption of retail cloud solutions in the region.
The breakdown of the profiles of the main participants is given below:
§ From the company: Level I: 20%, Level II: 34% and Level III: 46% §According to the denomination: C-level executives: 35%, Director level: 25% and others: 40%
§ By region: Asia Pacific: 18%, Europe: 25%, North America: 42%, Rest of World: 15% Note: Others include Sales Managers, Marketing Managers, and Product Managers Note: Rest of World includes East Middle and Africa and Latin America Note: Tier 1 companies have revenues of more than 100 million USD; Revenues of second-tier companies range from USD 10 million to USD 100 million; and the revenue of Tier 3 companies is less than 10 million Source: Secondary Literature, Expert Interviews Some of the leading vendors providing retail cloud solutions and services across the globe include AWS (US), Microsoft (US), Google (US), Oracle (US), Salesforce (US), SAP (Germany), Accenture (Ireland), Alibaba Cloud (China), IBM (US), Cisco (US), VMware (US), Fujitsu (Japan) , Blue Yonder (US), Cognizant (US), Workday (US), Infor (US), Rackspace (US), SPS Commerce (US), Atos (France), Epicor (US), Nutanix (US), Lightspeed Commerce (Canada), Tekion (US) ), and SymphonyAI Retail CPG.
The market study covers the retail cloud market across all segments. It aims to estimate the market size and growth potential of this market in various segments, such as component, service model, deployment model, distribution, organization size and region. It includes an in-depth competitive analysis of the leading players in the market, along with their company profiles, key observations regarding product and business offerings, recent developments, and key market strategies.
Reasons to buy this report:
The report will assist market leaders/new entrants in this market with information on the closest approximation of revenue numbers for the overall retail cloud computing market and sub-segments. This report will help stakeholders understand the competitive landscape and gain more insight to better position their businesses and plan appropriate market entry strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges and opportunities.
The report provides insights on the following points:
•Analysis of key drivers (need to improve online shopping experience, growing adoption of SaaS solutions to meet changing customer demands and preferences, accelerated adoption of multi-cloud architecture), constraints (integration of systems based in the cloud with legacy systems), opportunities (arrival of IoT in retail to improve retail management, growing adoption of new retail technologies to integrate online and offline shopping experiences) and challenges ( difficulty in migrating IT workloads to other cloud vendors, concerns over data security in the cloud) impacting the growth of the retail cloud market. •Product Development/Innovation: Detailed insights into future technologies, R&D activities, and new product and service launches in the retail cloud market. •Market Development: Comprehensive information about profitable markets – the report analyzes the retail cloud computing market in various regions. •Market diversification: Comprehensive information on new products and services, untapped geographies, recent developments and investments in the retail cloud market. •Competitive assessment: In-depth assessment of market shares, growth strategies and service offerings of key players such as AWS (US), Microsoft (US), Google (US), Oracle (US), Salesforce (US), SAP (Germany), Accenture (Ireland), Alibaba Cloud (China), IBM (US), Cisco (US), among others in the retail cloud market.
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