The worldwide retail analytics market is probably going to pick up stimulus from an earnest need to give upgraded client care investigation just as to settle on systematic choices with respect to organizations. As indicated by a distributed report by Fortune Business Insights, titled, “Retail Analytics Market Size, Share and Global Trend By Type (Software, Services), By Deployment (On-Premises, Cloud), By Organization Size (SMEs, Large Enterprises), By Function (Customer Management, Supply Chain, Merchandising, In-Store Operations, and Strategy and Planning) and Geography Forecast till 2026,” the worldwide market is anticipated to reach US$ 13,299.6 Mn by 2026, in this manner showing a CAGR of 19.3% during the estimated time frame (2019 – 2026). Be that as it may, the worldwide retail analytics market was esteemed at US$ 3,494.6 Mn in 2018.
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1. By Type
- Professional Services
- Implementation and Consulting Services
- Training and Support
- Managed Services
2. By Deployment
3. By Organization Size
- Large Enterprises
4. By Function
- Customer management
- Supply chain
- In-store operations
- Strategy & planning
5. By Region
- North America (S. and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico and Rest of Latin America)
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Asia Pacific, on the other hand, is anticipated to exhibit notable retail analytics market growth in the forthcoming years. It would occur because of the increasing usage of smartphones, which has further given rise to the deployment of Internet services across the region. Retailers from Japan, China, India, and the other countries in Asia Pacific have begun focusing their interest in applying retail analytics for withstanding the huge market competition as well as for offering the customers various novelty services. This is likely to propel the retail analytics market in this region.
Increasing Adoption of Smartphones and Internet Usage to Favor growth in Asia Pacific
The worldwide retail examination advertise is geologically portioned into the Asia Pacific, the Middle East and Africa, Europe, Latin America, and North America. Among these regions, North America was in the main position in the worldwide retail examination advertise in 2018 by producing US$ 1280.6 Mn regarding income. Fortune Business Insights predicts that the area will hold its position in the coming years. The growth is attributed to the increasing adoption of e-commerce services by numerous companies in and around the region. Furthermore, there has been a rise in the number of retail chains, growing demand for price enhancement, and increasing adoption of omnichannel business models. All these factors will contribute to market growth in North America during the forecast period.
- FLIR Systems, Inc.
- HCL Technologies Limited
- SAS Institute Inc.
- Fractal Analytics, Inc.
- Wipro Limited
- com, Inc.
- Tableau Software.
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July 2019: FLIR Systems launched Brickstream 3D Gen 2 people counting sensors. Brickstream 3D Gen 2 technology is integrated with the retailer’s analytics software to enhance data accuracy and take intelligent business decisions.
March 2019: HCL Technologies launched HCL ADvantage Experience, which works with Adobe Experience Cloud. HCL ADvantage Experience serves as a dedicated platform to monitor data-driven, AI-enabled omnichannel customer experience.
Keywords: retail analytics market, retail analytics software, supply chain management, strategy and planning, optimized store operations, big data analytics, space optimization, stock management, machine learning, in-store analytics, cloud-based retail analytics, heterogeneous business data, cross-channel sales, Retail analytics dashboard, multi-channel customer interaction
FLIR Systems Launches People Counting Sensors to Filter Employees from Shoppers
FLIR Systems, a U.S.-based company specializing in the design and production of imaging sensors, components, and thermal imaging cameras, unveiled its latest Brickstream 3D Gen 2 people counting sensor in July 2019. The device offers an advanced employee filtering feature that aids in providing shopping and retail businesses with accurate sales conversion metrics and customer traffic data. The feature further utilizes a combination of employee-worn tags and Bluetooth Low Energy (BLE) technology to instantly identify staff from customer counts and eliminate them. The device can be installed above store entrances where staff, such as security guards and greeters, are located. The company declared that this device would aid in filtering employees efficiently which would mainly help the elite retailers where foot traffic is low as compared to other stores.
HCL Technologies, a multinational information technology service and consulting company, based in Noida, announced in March 2019 that it has launched HCL ADvantage Experience. The platform operates with Adobe Experience Cloud and allows the organizations to measure, personalize, and create consumer experience by using various touchpoints in a consumer’s journey. The platform also offers marketers with digital libraries and stores to launch products quickly. It can merge data from diverse legacy marketing systems. Apart from these two organizations, other prominent market players are also indulging in innovative product launches to sustain in the global retail analytics market.
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Table of Content
5. Key Insights
5.1. Macro and Micro Economic Indicators
5.2. Consolidated SWOT Analysis of Key Players
6. Global Retail Analytics Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecasts
6.2.1. By Type (Value)
188.8.131.52.1. Professional Services
184.108.40.206.1.1. Implementation and Consulting Services
220.127.116.11.1.2. Training and Support
18.104.22.168.2. Managed Services
6.2.2. By Deployment Type (Value)
6.2.3. By Organization Size (Value)
22.214.171.124. Large Enterprises
6.2.4. By Function (Value)
126.96.36.199. Customer management
188.8.131.52. Supply chain
184.108.40.206. In-store operations
220.127.116.11. Strategy & planning
6.2.5. By Geography (Value)
18.104.22.168. North America
22.214.171.124. Asia Pacific
126.96.36.199. Middle East and Africa
188.8.131.52. Latin America
7. North America Retail Analytics Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Market Size Estimates and Forecasts
7.2.1. By Type (Value)
184.108.40.206.1. Professional Services
220.127.116.11.1.1. Implementation and Consulting Services
18.104.22.168.1.2. Training and Support
22.214.171.124.2. Managed Services
7.2.2. By Deployment Type (Value)
7.2.3. By Organization Size (Value)
126.96.36.199. Large Enterprises
7.2.4. By Function (Value)
188.8.131.52. Customer management
184.108.40.206. Supply chain
220.127.116.11. In-store operations
18.104.22.168. Strategy & planning
7.2.5. By Country (Value)
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