In-store Analytics Market Scope
In-store analytics looks at customer behaviour in the context of the store. In-store analytics focuses on optimizing store performance. It helps predict a range of consumer preferences, from simple demands to unique tastes. In-store is widely used in the retail sector in order to enhance customer experience and drive sales. Organizations in the retail sector use business intelligence (BI) and retail analytics tools, in areas of customer intelligence, merchandising intelligence and operational intelligence to enhance its efficiency.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | SAP (Germany), Mindtree (India), RetailNext (United States), Retail Solutions (United States), Amoobi (Belgium), Scanalytics (United States), Capillary Technologies (Singapore), Thinkinside (Italy), InvenSense (United States), Happiest Minds (India) and Celect (United States) |
CAGR | 20.3% |
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global In-store Analytics market throughout the predicted period.
SAP (Germany), Mindtree (India), RetailNext (United States), Retail Solutions (United States), Amoobi (Belgium), Scanalytics (United States), Capillary Technologies (Singapore), Thinkinside (Italy), InvenSense (United States), Happiest Minds (India) and Celect (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Inpixon (United States), Dor Technologies (United States), SEMSEYE (Lithuania) and Walkbase (Finland).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global In-store Analytics market by Type , by Application (Customer Management, Marketing Management, Merchandising Analysis, Store Operations Management, Risk and Compliance Management and Others) and Region with country level break-up.
On the basis of application, Merchandising Analysis segment is dominating the market in the year 2023
On the basis of geography, the market of In-store Analytics 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 2023.
Market Leaders and their expansionary development strategies
In January 2019, Thinkinside added a new module, Funnel Analysis, in its in-store analytics platform, RetailerIN. This module enables supermarket and grocery stores to fully analyze the complete shopping funnel by integrating sales data.
In January 2024, RetailNext, the leading in-store traffic analytics provider used by 450+ of the world’s most loved retail brands, today released its comprehensive list of product updates from the past year, designed to enhance in-store analytics for retailers globally. The latest upgrades mark a significant milestone for RetailNext, empowering retailers with cutting-edge tools to elevate their in-store performance and optimize the shopping experience.
Influencing Trend:
Tracking Engagement Metrics and Monitoring Customer Behavior in Real Time
Market Growth Drivers:
Requirement for Better Customer Services and Enhanced Shopping Experience and Rise in Competition from Ecommerce Players
Challenges:
Reluctance of Retailers
Restraints:
Data Security and Privacy Concern Related To Advanced Technologies
Opportunities:
High Potential Growth In Emerging Economies and Advent of Cloud Based Analytics
Key Target Audience
In-Store Analysis Providers, Traders, Importer And Exporter, Raw Material Suppliers And Distributors, Research And Consulting Firms, Government And Research Organizations and Associations And Industry Bodies