About IT Spending In Retail Industry
IT Spending in Retail Industry basically refers to new innovative digital solutions that retailers can adopt in the highly competitive market space. The new generational digital IT solutions will enable firms to reduce their operational costs, while improving their efficiency and also allowing them to have better customer relations. Adoption of IT solutions would also benefit retailers in retaining loyal customer base. The rising penetration of internet services has been major factor contributing towards growth of the IT spending in retail industry. IoT and Machine learning are few of the new advanced tools that can revolutionize the way retailers do business in modern information age. Currently, North America and Europe are the two prominent markets of IT spending in retail industry.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the IT Spending In Retail Industry market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for IT Spending In Retail Industry Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Oracle Corporation (United States), SAP SE (Germany), Microsoft Corporation (United States), IBM Corporation (United States), Cisco Systems, Inc. (United States), Salesforce.com, Inc. (United States), Informatica LLC (United States), Hewlett Packard Enterprise Company (United States), Blue Yonder (United States) and VMware, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are MicroStrategy Inc. (United States), LS Retail ehf (Iceland) and Epicor Software Corporation (United States).
Segmentation Overview
AMA Research has segmented the market of Global IT Spending In Retail Industry market by , Application (Front-End, Back-End and Others) and Region.
On the basis of geography, the market of IT Spending In Retail Industry has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Organisation Size , the sub-segment i.e. SMEs will boost the IT Spending In Retail Industry market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Infrastructure {Cyber Security, Network Application, IOT Enablement and Others} will boost the IT Spending In Retail Industry market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment , the sub-segment i.e. E-commerce will boost the IT Spending In Retail Industry market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
IoT Enabledment is rising in Popularity
Market Growth Drivers:
Growing Competition among Retailers due to Rapid Urbanisation, Increasing Penetration of Internet Services and Rising Adoption of Digital Solutions by Businesses to Attain a Competitive Edge
Challenges:
Training of Personals Required
Restraints:
High Cost of Setup and Maintenance
Opportunities:
Back End Segment can Present Huge Opportunity for Automation
Market Leaders and their expansionary development strategies
In 2021, Aptos, Inc., a United States based retail management software developer has announced completion of acquisition of LS Retail. The combination of both the firm’s retail technology solutions will enable retailers to avail advanced and innovative unified commerce solutions. This deal will consolidate Aptos market standings in the retail technology market.
In 2021, Panasonic Corporation, a Japanese multinational electronics company has annpunced acquisition of Blue Yonder, an American software company specialised in end-to-end, digital fulfillment platform. The acquisition maybe valued at USD 8.5 billion. The acquisition is in line with Panasonic’s aim at strengthening its Autonomous Supply Chain mission powered by combination of machine learning, IoT and artificial intelligence. The acquisition will also expand the portfolio of Panasonic.
Key Target Audience
IT Spending In Retail Industry Services Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.