Market Snapshot:
The increasing adoption of smartphones and shift toward omnichannel experience are the driving factor for the global retail cloud market. Retail cloud refers to a cloud technology which is designed especially for retailers. This technology helps them to deal with cost-effective streamlined operations, scaling up and down the production process, real-time data reporting for the interactive customer and rapid speed to market offspring. The market is gaining interest due to the increase in the use of smartphones, cloud-based solutions in the retail industry.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Microsoft Corporation (United States), Infor, Inc. (United States), Epicor Software Corp. (United States), Fujitsu Limited (Japan), JDA Software Group Inc. (United States), SAP SE (Germany), Oracle Corporation (United States), Cisco Systems, Inc. (United States), IBM Corporation (United States), Computer Sciences Corp. (United States), Syntel Inc . (United States), Rapid Scale (United States), Concur Technologies (United States), Alibaba (China) and Tecent (China) |
CAGR | 20.61% |
Segment Analysis
AMA Research have segmented the market of Global Retail Cloud market by Type, Application and Region. On the basis of Type, Solution are dominating the market in the year 2022
On the basis of geography, the market of Retail Cloud 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). North America region held largest market share in the year 2022. India on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Trend
Rapid Advancements of the Ongoing Technological Advancements, Social networking, Tremendous expansion of e-commerce are increasing the customer demands, Cloud Computing Technology is helping the Retailers to understand the changing scenarios of the market by providing cost-efficient, accurate, and agile solutions and Multiple Payment Options and the Emergence of Cloud-based Retail Business.
Market Drivers
Increase Preference of Omnichannel Experience, High Popularity and Easy Usage of Smartphones, Increasing Demand for Higher Digital Customer Experiences and Significant Growth in Cloud-based Retail Business.
Opportunities
Adoption of IoT (Internet of things) in the retail sector and Demand for Effectively Connected Devices such as cameras, RFID chips, sensors which are helping retailers to collect store data and make use of cloud technology.
Restraints
- Lack of technical staffs and capital for cloud transition may hamper the global retail cloud market
- Increasing Security and Privacy Concerns are acting as a Barrier to the growth of this market.
In addition to the aforementioned factor, Increase Preference of Omnichannel Experience
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The market is fragmented by top key players and there is increasing competition in the regional market for customer satisfaction services by retail players. Continuous usage of cloud technology, launching new products by manufacturers is increasing the competition and providing customers with customer-specific retail cloud solutions. For instance, In July 2017, Infor expanded ERP into the extended supply chain. Infor is now able to connect the core applications of an enterprise with its logistics, supplier, and finance networks, increasing network-wide visibility, collaboration, efficiency, and responsiveness, and making an enterprise more agile and competitive
The key Players profiled in the study are Microsoft Corporation (United States), Infor, Inc. (United States), Epicor Software Corp. (United States), Fujitsu Limited (Japan), JDA Software Group Inc. (United States), SAP SE (Germany), Oracle Corporation (United States), Cisco Systems, Inc. (United States), IBM Corporation (United States), Computer Sciences Corp. (United States), Syntel Inc . (United States), Rapid Scale (United States), Concur Technologies (United States), Alibaba (China) and Tecent (China). A lot of United States players are profiled in the research study indicating a strong market dependence.