Global demand retail cloud market was valued at around USD 15.84 billion in 2018, and is expected to reach approximately USD 59.80 billion in 2025, at a CAGR of slightly above 20.9% between 2018 and 2025.
Retail cloud refers to the cloud technology made for retailers to enable them with flexibility of scaling the production process up & down, providing them cost-effective operations, data reporting and faster speed to market their offerings. It also allows the enterprises to increase their footprints with streamlined operations, ease of use and incomparable agility for efficient response to changing market dynamics.
The retail cloud market is anticipated to show optimistic growth in the years ahead. Even with the slowdown in the world’s economic growth the market for retail cloud was still able to maintain its positive growth. The retail market is highly competitive in the developed countries such as North America and Europe. On the other hand the budding economies of Middle East, Asia-Pacific and Latin America are also contributing in the growth of retail cloud market, owing to its high customer base and increase in power, particularly in India, China and Saudi Arabia among others.
Rising demand for analytics and big data application in retail segment is anticipated to propel the focus towards data driven model, mainly to derive the customer taste and preferences and cater to the customer accordingly. This is anticipated to improve the offering process by the suppliers and further drive market growth in the forecast period. Furthermore, online retail channel are gaining popularity, so the companies are aiming to launch system and protocol which will ensure efficiency and safety. Additionally, increasing use of smartphones and ease of use are some of the factors supporting market growth. However, growing concerns regarding security and privacy is anticipated to hinder market growth in the forecast period.
The retail cloud market is segmented on the basis of solution, deployment, organization size and model. The organization size is segmented into SMEs and large enterprises. SME’s have started adopting cloud based technology due to the benefits it offers such as efficiency, flexibility along with ease of use. The retail cloud market is surging due to the use of smartphones and tablets as PoS systems. The retails cloud also offers additional functionalities such as payment handling, location information and inventory handling. The above mentioned factors are accountable for increasing the contribution in retail cloud market.
On the basis of region the retail cloud market is segment into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America is anticipated to have a significant share in the retail cloud market owing to the r shift of retailers to e-commerce industry. The retailer market in North America is one of the biggest retail markets, which includes Costco, Wal-Mart, The Home Depot, Target and Kroger. This is anticipated to contribute to the market growth in the forecast period.
Renowned retail cloud market players Oracle Corporation, SAP SE, Cisco Systems Inc., Microsoft Corporation, Fujitsu Limited, Syntel, Inc., IBM, JDA Software Group, Inc. and Computer Sciences Corporation among others.
The report segments retail cloud market as follows:
Global Retail Cloud Market: Solution Segment Analysis
Global Retail Cloud Market: Service Deployment Segment Analysis
Global Retail Cloud Market: Organization Size Segment Analysis
Global Retail Cloud Market: Regional Segment Analysis