Market Research Future (MRFR), in its latest report on the Global Retail Cloud Industry 2020, shed light on different forces that are impacting the market. As per MRFR data, Global Retail Cloud Market is expected to expand at 17.42% CAGR and be valued at USD 109.14 Billion by 2030.
The application of Retail cloud offers multiple benefits over conventional retailing solutions. Retail cloud provide different solutions to retailers such as; discounts & promotions, disaster recovering, CRM, data analytics, and workforce management. In addition, technology advancements are also backing the wide range of applications of retail cloud. These factors are expected to boost the rise of the Retail Cloud Industry in the near future.
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The gradual shift in towards omni-channel retail is also observed as a potential Retail Cloud Industry driver. Retail cloud solutions are also improving consumer transparency and are enabling omni-channels for a completely integrated approach towards commerce that can offer shoppers a unified experience across both offline and online channels. The increase in these type of integrated solutions with the assistance of the amalgamation of cloud technologies via recovery, chatbots, and data backup market can boost the expansion of the market in the analysis period. The rise in tore and analyze customer data solutions that offer seamless shopping experience can also benefit the Retail Cloud Industry in the study period.
Accenture (Ireland), Retail Cloud (UK), Nutanix (US), T-Systems (Germany), IBM Corporation (US), Microsoft Corporation (US), SAP SE (Germany), Cisco Systems (US), Infor Inc (US), Syntel (US), Oracle Corporation (US), Google Inc (US), Flux7 (US), Fujitsu Global (Japan), and Netmagic Solutions (India) are some eminent names in the retail cloud global market as listed by MRFR.
The segment evaluation of the global Retail Cloud Industry is based on service model, component, type, and deployment.
The component based segments of global Retail Cloud Industry are into solution and services. The services sub-segments are managed and professional services. The solution segment can thrive in at the highest CAGR in the years to come.
The type based segments of the global Retail Cloud Industry are analytics, customer management, merchandising, supply chain management, workforce management, data security, and omni-channel among others.
By service model based segments of the global Retail Cloud Industry are platform as a service, infrastructure as a service, and software as a service. The software as a service segment can hold the largest market share and the infrastructure as a service segment can thrive at the highest CAGR across the analysis period.
The deployment based segments of the global Retail Cloud Industry are hybrid cloud, public cloud, and private cloud. The public cloud segment can generate considerable revenue for the market and the hybrid cloud segment can expand at the highest CAGR in the analysis period.
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In North America, the increase in the use of cloud in retail shops allows shoppers to have convenient user experience across all retail channels, in-store and online. The rapid expansion of the e-commerce market is expected to support the integration of retail market with integrate new technologies, thus transforming the competitive landscape in the region. This is expected to boost the expansion of the regional Retail Cloud Industry in the near future. In Europe, the expansion of the Retail Cloud Industry can be attributed to the presence of prominent retail cloud dealers in the region. The rise in the adoption of E-commerce players across the UK can cause the region to rise.
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