Insights Into The Retail Cloud Market’s Growth Opportunities Through 2023-2032 – Includes Retail Cloud Market Analysis
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The rapid adoption of smartphones are expected to drive innovation in retail cloud manufacturing, thus driving the market during the forecast period.
The global retail cloud market is expected to grow from $27.1 billion in 2022 to $31.68 billion in 2023, at a compound annual growth rate (CAGR) of 16.9%. The retail cloud market size is expected to grow to $58.67 billion in 2027 at a CAGR of 16.7%.
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Global Retail Cloud Market Segments Include:
- By Type: Channel Operations, Supply Chain Management, Customer Management, Merchandising, Workforce Management, Reporting and Analytics, Data Security
- By Service Model: Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS)
- By Deployment: Public Cloud, Private Cloud, Hybrid Cloud
- By Organization Size: Small and Medium Enterprise, Large Enterprise
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global retail cloud market in 2021.
Major Market Players in the retail cloud market include Cisco Systems Inc., Fujitsu, Google, IBM Corporation, Infor Inc., JDA Software Group, Microsoft Corporation, Oracle Corporation, SAP SE.
Technological advancements are a key trend gaining popularity in the retail cloud market. The market is witnessing the need for cloud computing technology that improves the customer experience while simplifying procedures and lowering IT costs. Major companies operating in the retail cloud market are focused on providing technologically advanced solutions to strengthen their market position. For instance, in March 2022, Snowflake, a US-based cloud company, launched a retail data cloud to facilitate collaboration, provide exceptional customer experiences, and optimise retail operations. The retail data cloud enables retailers, manufacturers, distributors, CPG vendors, and industry technology providers to exploit their data, access new data, and cooperate seamlessly throughout the retail industry.
The Retail Cloud Global Market Report 2023 provides a retail cloud market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The retail cloud market forecast analyzes retail cloud market size, retail cloud market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Retail cloud is a cloud-based retail solution that combines artificial intelligence (AI) and data analytics, which allow retailers to build goods responsive to consumer feedback. Retailers can use cloud computing to obtain information from internet sources to meet their customers’ needs. Cloud computing allows for the streamlining of supply chains and logistics and the delivery of high-quality and seamless client experiences.
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