Evolve Business Intelligence has published a research report on the Global Retail Analytics Market, 2024–2034. The global Retail Analytics Market is projected to exhibit a CAGR of around 4.23% during the forecast period of 2024 to 2034.
Evolve Business Intelligence has recognized the following companies as the key players in the global Retail Analytics Market: Microsoft, IBM, Oracle, SAP, SAS institute, AWS, Qlik, Google, Domo and Vend.
Market Highlights
The Global Retail Analytics Market is projected to be valued at USD 31.66 Billion by 2034, recording a CAGR of around 4.23% during the forecast period. The Retail Analytics Market refers to the collection and analysis of data related to retail operations in order to optimize decision-making, improve customer experience, enhance sales performance, and streamline operations. Retail analytics leverages data from various sources such as customer transactions, inventory management, supply chain operations, and in-store behavior. The goal is to provide actionable insights into consumer behavior, sales trends, product performance, and marketing effectiveness.
The retail analytics market is driven by the increasing availability of data, advancements in technology, and the growing need for retailers to make data-driven decisions to remain competitive in today’s market.
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Segmental Analysis
The global Retail Analytics Market has been segmented based on Organization Size, Application and Business Function.
Based on Organization Size, the Retail Analytics Market is segmented into Large Enterprises and Small and Medium-sized Enterprises. The Large Enterprises segment is anticipated to dominate the market.
Based on Application, the global Retail Analytics Market has been divided into Merchandising analysis, Pricing analysis, Customer analytics and Others. The Customer analytics segment is anticipated to dominate the market.
Based on Business Function, the global Retail Analytics Market has been divided into Finance, Marketing & Sales, Human Resources and Others. The Marketing & Sales segment is anticipated to dominate the market.
Regional Analysis
The Retail Analytics Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. North America region has high levels of digitalization, advanced e-commerce platforms, and widespread use of data-driven marketing strategies are driving market growth. The presence of major retail analytics solution providers and tech companies, particularly in the U.S., is also a significant contributor. The U.S. and Canada have mature retail markets, with a focus on omnichannel strategies, personalized customer experiences, and AI-based analytics. The European market is driven by increasing e-commerce activities, particularly in countries like the U.K., Germany, and France. Retailers are focusing on improving the customer experience through analytics, especially in personalized marketing and inventory management. The APAC region is seeing rapid growth due to the expansion of e-commerce, especially in countries like China, India, Japan, and Southeast Asia. Retailers in this region are investing in analytics to optimize online and offline retail operations. Emerging markets like India and Southeast Asia present massive growth opportunities due to increasing smartphone penetration, digital payment systems, and growing internet usage. In Latin America region growth in e-commerce, along with an increasing focus on digital transformation among retailers in countries like Brazil, Mexico, and Argentina, is driving demand for retail analytics solutions. With the retail sector modernizing, there’s potential for cloud-based and AI-driven retail analytics to optimize inventory management, supply chains, and customer engagement. The rise of retail and e-commerce in the Middle East, particularly in the UAE, Saudi Arabia, and South Africa, is fueling demand for retail analytics. Retailers are adopting analytics to improve in-store operations and online customer engagement.
