Big Data Analytics in Retail Market to Reach $25.56 Billion by 2028: Exclusive Research Allied Market Research

Increase in spending on big data analytics tools and surge growth of e-commerce sector fuel the growth of the global big data analytics in retail market. Based on enterprise size, the large enterprises segment dominated the market in 2020. Based on region, the region across North America held the largest market share in 2020, and is expected to lead the trail throughout the forecast period.

Portland, OR, June 30, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global big data analytics in retail market generated $4.85 billion in 2020, and is estimated to garner $25.56 billion by 2028, witnessing a CAGR of 23.1% from 2021 to 2028. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Rise in expenditure on big data analytics tools, surge in need to deliver personalized customer experience to increase sales, and  growth of e-commerce sector drive the growth of the global big data analytics in retail market. However, collecting and collating the data from disparate systems hamper the market growth. Moreover, integration of new technologies such as IoT, AI and machine learning in big data analytics in retail and growing demand of predictive analytics in retail expected to usher a plethora of opportunities in the future.

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Covid-19 Scenario:

  • The retail sector has witnessed a decreased growth during the initial stage of covid-19 outbreak. The supply shortage, change in consumer behavior, and lockdown have further created challenges for the market players. This, in turn, has increased the adoption of big data analytics in retail.
  • Although the retail sector has witnessed decline in growth rate, the retail companies have focused on studying customer trends and analyzing future market dynamics. Thus, retail companies are expected to continue their investments on big data analytics. The fluoroscopy devices segment held the highest market share.

Get detailed COVID-19 impact analysis on the Big Data Analytics In Retail Market:

The big data analytics in retail market is segmented on the basis of component, deployment, organization size, application, and region. Based on enterprise size, the large enterprises segment dominated with the largest market share, accounting for nearly four-fifths of the total market share in 2020, and is projected to lead its status throughout the forecast period. Conversely, the SMEs segment is also projected to manifest the largest CAGR of 24.2% from 2021 to 2028.

Based on application, the supply chain operations management segment accounted for the highest share in 2020, holding nearly one-third of the global big data analytics in retail market, and is expected to maintain its lead throughout the forecast period. However, the customer analytics segment is estimated to cite the highest CAGR of 26.3% from 2021 to 2028.

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Based on region, the market is studied across regions including Asia-Pacific, North America, Europe, and LAMEA. The region across North America held the largest market share in 2020, holding nearly two-fifths of the total share, and is expected to dominate in terms of revenue by 2028. Simultaneously, the Asia-Pacific region is estimated to exhibit the largest CAGR of 27.4% during the forecast period.

Leading market players profiled in the report include Qlik Technologies Inc ., RetailNext, SAP SE, SAS Institute, Teradata , Alteryx Inc, IBM Corporation, Microsoft , and Oracle Corporation.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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