Rising Internet and Smartphone Penetration to Drive Asia Pacific Retail Analytics Market to $ 1.5 Billion by 2023
Growing deployment of
technologically advanced analytic solutions coupled with increasing smartphone
and internet penetration to drive Asia-Pacific retail analytics market through
2023
According to
TechSci Research report, “Asia-Pacific
Retail Analytics Market By Component, By Deployment Mode, By Application,
By End User Sector, By Country, Competition Forecast & Opportunities, 2013
– 2023’’, retail analytics market in the region is
projected to reach around $ 1.5 billion by 2023, on the back of growing penetration
of internet and smart devices, such as
smartphones and tablets.
Changing consumption patterns, rising income levels and increasing deployment of
public Wi-Fi systems across various offline
retail stores are expected to propel Asia-Pacific retail analytics market.
Increasing demand for automated retail-based services, surging adoption of IoT devices, growing competition
among various retail businesses to offer enhanced retail-based services to the
customers, and rising spending
of various central governments on big data and analytics are the other key
factors anticipated to positively push the market during forecast period.
Browse 5 market data Tables and 27 Figures spread through 59
Pages and an in-depth TOC on"Asia-Pacific Retail Analytics Market"
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Cloud-based data storage is gaining momentum across
the Asia Pacific region, owing to its increasing adoption across various SMEs
and cost benefits over on-premise data storage systems. Consequently, various
sectors in the Asia Pacific countries are shifting their focus towards cloud
storage and computing services to minimize their efforts of keeping databases
for day-to-day activities. Cloud deployment mode in the region’s retail
analytics market is expected to grow at the fastest rate during forecast period.
China accounted for the largest market share in 2017, backed by growing
technological advancements across various sectors and increasing internet and
mobile phone penetration across the country. IBM Corporation, Microsoft Corporation, SAP SE, Oracle
Corporation and SAS Institute Inc. are the major companies operating in the Asia-Pacific
retail analytics market.
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“Deployment of public
Wi-Fi systems is increasing across the region, owing to rising digitization and
growing internet penetration across various Asian countries. Moreover, demand
for new and advanced analytics solutions and services is also growing across the
retail sector of the region due to presence of various major developing
economies such as China, Malaysia and India, which are witnessing huge deployment
of various advanced technologies such as IoT and cloud services. Consequently,
retail analytics market in Asia-Pacific is anticipated to grow at a rapid pace
in the coming five years.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Asia-Pacific
Retail Analytics Market By Component, By Deployment Mode, By Application, By
End User Sector, By Country, Competition Forecast & Opportunities, 2013 –
2023” has evaluated
the future growth potential of Asia-Pacific retail analytics market and
provides statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities existing in the market.
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