Retail Cloud Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Retail Cloud Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : November, 2021 | Technology & Media

Report Digest


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. 

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

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Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?