The Global Retail Cloud Market is expected to witness exponential growth in the near future, because of the partnerships, mergers and acquisitions, and product launches by companies worldwide. Fortune Business Insights in their report, titled “Retail Cloud Market Size, Share and Industry Analysis, By Model Type (Infrastructure as a Service, Platform as a Service and Software as a Service), By Deployment (Public, Private and Hybrid Cloud), By Solution (Supply Chain Management, Workforce Management, Customer Management, Reporting and Analytics, Data Security, Omni-Channel and Others), By Enterprise Size (Small and Medium and Large Enterprise) and Regional Forecast, 2019-2026,” predicts such initiatives to bode well for the market growth.
According to the report, the market is anticipated to be rise from USD 11.89 Billion in 2018 and be worth USD 39.63 Billion by the end of 2026. The forecast figure is set from 2019 to 2026 and the market is expected to rise at a CAGR of 16.3%.
The report provides a thorough analysis of the retail cloud market primarily focusing on growth drivers, restraints, trends and opportunities. Various companies functioning in the market are listed in the report. All information presented in the report is gathered from both primary and secondary research methods. The report is available for sale on the Fortune Business Insights website.
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The Prominent Companies Operating In The Global Retail Cloud Market Include:
- Oracle Corporation
- Alibaba Group
- JDA Software Group
- SAP SE
- Cisco Systems Inc.
- Microsoft Corporation
Based on the solution, the market is dominated by reporting and analytics and data security segments because of the support these segments provide to the retail cloud computing by the formulating smart advertising and marketing strategies. To cite an instance, retail giants such as eBay and Amazon are using smart advertising in order to increase their product preferences as per different customers by studying the shopping behavior of each customer. The success of smart advertising has propelled the demand for reporting and analytics, thus making this segment generate high revenue in the forecast period. In addition to the segmentation, the report also discusses the retail cloud market trends and analyses the competitive landscape in detail.
Omni-Channel Retailing to Attract High Revenue to Market
Besides that, the advent of omnichannel retailing into the retail cloud sector will also help the market generate high revenue. Omni-channel connects all the communication channels between customers and the enterprise for creating a unified experience. As per a retail cloud salesforce study, about 73% of consumers choose multiple channels for their shopping experience in order to ensure themselves of a fair deal. This helps the retailers to focus on enhancing an omnichannel experience for their consumers thus, attracting more revenue to the market globally.
By Model Type
- Infrastructure as a Service
- Platform as a Service
- Software as a Service
- Supply Chain Management
- Workforce Management
- Customer Management
- Reporting and Analytics
- Data Security
By Enterprise Size
- Small and Medium
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, and the Rest of Europe)
- Asia Pacific (Japan, China, India, Southeast Asia, and the Rest of Asia Pacific)
- Middle East and Africa (South Africa, GCC, and the Rest of Middle East and Africa)
- Latin America (Brazil, Mexico, and the Rest of Latin America)
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