Cloud Technology is making Business Easier for Researchers
The retail industry is majorly implementing cloud computing solutions along with its huge investment in cloud services. In addition, in the manufacturing and banking industries, retailers are realizing the transformation of cloud computing technologies into this digitized world. On the other hand, retailers are becoming more competitive in the current market which is majorly dominated by smartphones. In recent years, near around 30% of all the commerce industry will occur on smartphones. Furthermore, around 80% of consumers will adopt mobile apps or mobile devices to inform their business decision. However, the business of retail is rapidly growing day by day. Also, transaction rates vary hugely since the last few years, therefore software and its infrastructure must be changed at a rapid pace. With the integration of Cloud with the retail software, retailers can able to measure ups and down more efficiently and quickly. Thus, scaling can occur effectively with pre-approvals as well as predefined monitors. The retail cloud refers to the cloud solution which is specially designed for retailers to allow them more cost-efficient business operations, thus the feasibility of scaling the manufacturing process, the real-time data improves consumer experience that is offered by cloud technology.
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Additionally, the retail cloud enables businesses to grow their market footprint by improving streamlined operations. Cloud computing offers a huge number of benefits for enterprises. In addition, data backup to a cloud-enabled system can help in data disaster recovery. By accessing information from the number of points into a central portal, the technology can grow its integration across many departments. Likewise, cloud computing can be integrated by several companies such as small as well as large organizations and can provide the feasibility required for all of them to make their business operations faster. On the other hand, cloud computing technologies are all updated, managed, maintained, and upgraded by a third party. In addition, the cloud service will manage the service as well as they include power costs. Thus, retailers have embraced in-house data.
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The global market for the retail cloud was estimated at US$ 17. 09 BL in the year 2018, and it is expected to register the highest CAGR of around 17.7% during the predicted period. In addition, the retail market is currently undergoing huge changes and the retail business background has become highly multi-channel. However, the huge amount of data which require to be processed, to make significant business decisions, particularly in utilizing and deducing the merchandising and marketing analytics, has also boosted the demand for the retail cloud industry across the world. In addition to this, the retail cloud industry is highly mature and extremely fragmented across the emerged regions such as North America and Europe. Furthermore, the emerging economies of the Middle East, Asia Pacific, and Latin America have been instrumental in fuelling the global retail cloud market growth, owing to the growing customer purchasing rate, especially in Saudi Arabia, China, India, and others. Additionally, the increasing application of analytics and big data in the retail vertical is anticipated to boost the demand of the global retail cloud market, basically by extending the types of data which can be analyzed and improving the sophistication level of the outcome insights. This is also anticipated to enhance the management areas of the e-commerce industry that results in reducing the gap between action as well as insight. Moreover, online channels are growing their popularity due to the offering of the mode of transaction. Hence, companies are highly concentrating on launching new protocols and systems which ensure complete efficiency and safety.
Workforce Management applications segment is expected to grow with the highest share over the forecast period
The cloud workforce management applications are highly adopting by retailers owing to its huge demand for consumer-based technology as well as growing retailer’s interest across innovative intelligent automation to increase their business. On the other hand, the huge numbers of companies are highly investing in retail workforce management that has offered opportunities to increase retail operations by reducing administrative processes as well as gathering more profitable information. This enables the workforce to place additional focus on sales as well as in-store operations.
High implementation of mobile devices is boosting the retail cloud market growth across the world
As per the recent research, the software vertical is attributing the growing global retail cloud market in the year 2017. This is anticipated to remain its huge market growth hold with significant shares over the predicted period. In addition, the global retail cloud market growth is anticipated owing to the growing demand for overall software systems with the number of small as well as medium enterprises that are lacking technical experts and expenditure for cloud services. On the other hand, owing to the increase if e-commerce, as well as mobile devices, have made it crucial for the number of retailers to have higher flexibility in the overall demand and supply chain operations, hence growing their concentration on retail cloud solutions.
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The global retail cloud market geographically segmented as follows:
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Asia-Pacific (APAC)
- Rest of Asia-Pacific
- Middle-East & Africa (MEA)
- South Africa
- Rest of MEA
- Latin America (LATAM)
- Rest of Latin America
Out of the above mentioned geographical regions, the North American market for retail cloud holds a major share. The growing demand across the region is highly attributed to the rapidly moving retailers towards e-commerce solutions. In addition to this, the retail market in North America is increasing at a very rapid pace. However, retail trade accounting for near around 10% of the hare in both Canada as well as the United States. Moreover, the retail market in this region is also recognized as one of the highest markets across the globe. Costco, Wal-Mart, The Home Depot, Kroger, and Target have the leading companies with their origin in the North America region. Additionally, online shopping is also one of the major factors contributing to the growth of the retail cloud market across the region. To gain a competitive footprint the huge number of retailers offering their products with the help of several online platforms. In addition, the region has a very strong foothold to integrate all the leading retail service providers that are expected to boost the retail cloud market growth in the region.
Competitive landscape of the global retail cloud market
The global market for the retail cloud is extremely fragmented as the number of top players operating across the world. DXC Technology, Cisco Systems Inc., Infor Inc., Fujitsu Limited, Epicor Software Corporation, Oracle Corporation, IBM Corporation, Microsoft Corporation, JDA Software Group Inc., Retailcloud, SAP SE are some of the leading service providers of the global retail cloud market.
Key Market Movements
- Increasing penetration of mobile devices is one of the major factors contributing to the growth of the global retail cloud market.
- Rapidly shifting the rate of retailers towards e-commerce solutions also bolstering the demand for retail cloud across the globe.
Key Market Deliverables
- The report offers an extensive analysis of market dynamics and market trends.
- Market segmentation and sub-segments are briefly analyzed along with each and every region of the world.
- The complete assessment of the supply chain as well as the demand of the global retail cloud market also presented.
- Market valuation in terms of volume and revenue analyzed with the help of different analysis methodologies.
- Major market trends, market opportunities, and challenges also evaluated in the report.
- Forces defining current as well as the future state of the competitive analysis of the market.
- Technological advancements, stockholder analysis, and value chain analysis offered in the report.
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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