The global retail cloud market size is expected to reach USD 109.98 Billion in 2028 and register a CAGR of 21.1% during the forecast period, according to latest analysis by Emergen Research. Factors such as numerous benefits provided by retail cloud over conventional retailing, rapid technological advancements which offers a wide range of applications, and rise in e-commerce sectors are driving market revenue growth.
The hybrid cloud deployment is expected to register a significantly faster revenue CAGR during the forecast period. Hybrid clouds allow data and applications to move between the two environments. To stay relevant in today’s customer centric market, it is crucial to provide seamless customer experience to retain the existing ones and gain new customers and a flexible cloud infrastructure is critical to delivering it. A hybrid cloud provides organizations multiple advantages such as greater flexibility, more deployment options, greater security, and compliance compared to public and private deployment
Furthermore, the report provides a comprehensive analysis of the factors that are likely to bolster or impede the growth of the market in the coming years. The report considers the COVID-19 pandemic that is currently unfolding as a key market influencer. The report provides a thorough estimation of the overall impact of the pandemic on the Retail Cloud market and its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the Retail Cloud market.
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Some Key Highlights From Report
- In June 2020, Microsoft Corp. announced a strategic change in retail operations, including closing of Microsoft Store physical locations. The company’s retail team members will continue to serve customers from Microsoft Corporate facilities and continue providing sales, training, and support to remote locations. Microsoft has also announced plans to continue its investment in its digital storefronts on Microsoft.com, and stores in Xbox and Windows, reaching more than more than 1.2 billion people, every month in 190 markets.
- In April 2019, Oracle released version 19AMP of Oracle Commerce Cloud. This new version is providing a host of new features with functional efficiency additions like the ability to edit prices directly in the storefront, publish a filtered list of changes, and adds a vital marketing and merchandising capability with personalization based on geolocation.
- North America accounted for largest revenue share in 2020 and is expected to maintain its leading position during the forecast period. Steady revenue growth can be attributed to rapid growth of the retail market, increasing demand for retail cloud-based solutions, and presence of major key players in countries in the region. In addition, organizations are shifting to providing personalized in-store shopping experience to their customers, which is a major factors expected to fuel growth of the market in the region.
The report further divides the Retail Cloud market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Retail Cloud market.
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Emergen Research has segmented the retail cloud market based on solution, service, deployment, and region
Solution Outlook (Revenue, USD Billion; 2018-2028)
- Supply Chain Management
- Customer Management
- Workforce Management
- Reporting and Analytics
- Data Security
Service Outlook (Revenue, USD Billion; 2018-2028)
Deployment Outlook (Revenue, USD Billion; 2018-2028)
- Public Cloud
- Private Cloud
- Hybrid Cloud
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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The report also studies the key companies of the Retail Cloud market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
Some players analyzed in the report are:
Oracle Corporation, Cisco Systems, Inc., SAP SE, International Business Machines Corporation, Microsoft Corporation, Fujitsu Limited, Infor, Inc., Epicor Software Corporation, JDA Software Group, Inc., and Syntel, Inc.
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Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Retail Cloud market?
What are the key product types and applications of the Retail Cloud industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Retail Cloud market?
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