Retail Cloud Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Retail Could Market: Snapshot
Retail cloud is a multi-billion dollar market nowadays, thanks to the swift uptake of cloud-based solutions by savvy retailers of almost all sizes, worldwide. Cloud technology such as software as a service (SaaS) helps them to modernize their operations, provide better services to customers, and most importantly are cost effective as it does not require building customized programs for various processes.
Increasing preference for smartphones, rising popularity of omni-channel retail, and ease of use is said to catalyzing growth in the global market for retail cloud. With cloud technology, retailers can adjust to several conditions and attain real-time information. Data tracking has never been so easy, thanks to the advent of cloud in retail processes.
At the forefront of driving demand in the global market for retail cloud are the SMEs. This is because cloud services accord them high degree of efficiency, ease of use, and most importantly, flexibility. With smartphones and tablets functioning as PoS systems these days, which are increasingly inching towards cloud, the global retail cloud market is expected to surge. Handling payments, inventory, and location information are some other functions cloud systems perform. All these benefits have helped the market flourish.
North America is a key region in the global market for retail cloud on account of being an early adopter of latest cutting-edge technologies. A copious number of astute retailers in the region, trying to increase customer engagement with personalization of their in-store experience, are also serving to boost the market. Asia Pacific is another lucrative market that is being powered by the fast expanding major economies of India and China that are home to a copious number of retailers resorting to cloud-based services.
Global Retail Cloud Market: Overview
As the retail industry constantly strives to meet the ever-expanding needs of consumers, the global retail cloud market will undergo substantial expansion over the next few years. The towering popularity of social networking, the rapid expansion of e-commerce, and ongoing technological advancements are dictating changing consumer demands. Cloud computing enables retailers to keep pace with the transformations in the market scenarios, by providing accuracy, agility, and cost-efficient solutions. Therefore, the adoption of cloud services in retail have become crucial in the survival of several retailers.
Global Retail Cloud Market: Key Trends
Greater popularity of smartphones, increasing preference for omni-channel experience, and ease of use are the primary driving forces of the global retail cloud market. With cloud technology, retailers can adjust to several conditions and attain real-time information. Data tracking has never been so easy, thanks to the advent of cloud in retail processes.
SMEs have been adopting cloud services to a considerable extent, as these services offer high efficiency, ease of use, and flexibility. As smartphones and tablets are now operating as PoS systems, which are gradually moving towards cloud, the global retail cloud market is expected to surge. Handling payments, inventory, and location information are some other functions cloud systems perform. All these advantages have stoked the growth of the market.
On the other hand, the market might face a major bottleneck due to data privacy and data security concerns. However, the rising demand from SMEs is expected to aid market expansion.
Global Retail Cloud Market: Market Potential
The market for retail cloud has been witnessing several product and service launches. The recent launch of a new cognitive platform, IBM Machine Learning, is likely to have a positive impact on the growth of the global retail cloud market. Making its debut on the z System mainframe, the integration of IBM Machine Learning is expected to benefit not only the healthcare sector in terms of personalized medicine, but also several retail processes. It can handle innumerable daily transactions in banking, retail, government, and insurance sectors, among many others.
Another important development in this area is the launch of a tool that enables retailers to estimate the value of expanding and launching a new financing program in advance by Vyze, which is a cloud solutions provider for manufacturers and retailers.
Star Micronics announced the launch of its versatile cloud printing solution in February 2017. The Star CloudPRNT ™ technology offers several connectivity options. Remote printing is possible with this solution, where one can securely and directly print from a web server, eliminating the need for cloud-based PoS applications. As this product can be used in retail applications, the market for retail cloud might undergo transformations.
Global Retail Cloud Market: Regional Outlook
Escalating cloud adoption in the retail sector aimed at harnessing better business opportunities has been responsible for the growth of the market in Asia Pacific. Increasing number of retailers in countries such as India and China are opting for cloud-based services so as to attend to customer concerns and queries and this will continue to boost the APAC market. North America is likely to dominate the global market for retail cloud. Personalization of consumer’s in-store experience has been one of the major growth drivers of the market in this region.
Global Retail Cloud Market: Competitive Analysis
Microsoft Corporation, Oracle Corporation, Infor, Inc., Cisco Systems, Inc., Epicor Software Corporation, IBM Corporation, Fujitsu Limited, Computer Sciences Corporation, JDA Software group, Inc., Syntel Inc., and SAP SE are some of the major companies operating in the global retail cloud market.
In February 2017, Oxygen Finance acquired finance cloud-based solutions vendor, Satago. Through the combination of their respective capabilities, the two companies are likely to emerge as leading market players. They aim at delivering integrated, modern payment strategies to large organizations.
Fusion5, a business solutions provider, has merged with Myriad IT, a Melbourne-based firm, boosting Oracle and Microsoft capabilities. In February 2016, Fusion5 acquired the Microsoft Dynamics CRM and SharePoint practices of Koorb Consulting, one of the top three Dynamics CRM partners in New Zealand. Extension of customer base and strengthening of customer relationships have been the chief aims of this acquisition.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report