Press Release

Increase in Spending on Big Data and Analytics to Push Europe Retail Analytics Market to $ 1.6 Billion by 2023

Increasing penetration of internet and smart devices coupled with growing competition among various retail businesses to offer enhanced retail-based services to customers to drive Europe retail analytics market through 2023

According to TechSci Research report, Europe 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 Europe is forecast to reach $ 1.6 billion by 2023, backed by increasing spending on big data and analytics by various governments across the region. Moreover, growing entrepreneurship spirit, rapid adoption of new and advanced technologies, and increasing penetration of smart devices, such as smartphones and tablets and internet would aid the market growth. Growth in the market is also expected to be driven by rising demand for SMACT technologies across retail sector, increasing adoption of IoT and connected devices, and growing demand for omni-channel retail business model across the region.

Browse 5 market data Tables and 26 Figures spread through 59 Pages and an in-depth TOC on "Europe Retail Analytics Market"

IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation and SAS Institute Inc. are the major companies operating in Europe retail analytics market. With growing mobility and mobile nodes across the region, demand for cloud computing services is increasing at a robust pace. Moreover, backed by rising need to reduce operational costs, different end use sectors are shifting their focus from on-premise services to cloud services to automate their day-to-day activities. Owing to all these factors, cloud deployment mode is anticipated dominate the market in the coming years. As demand for advanced technology-based analytics solutions and services and infrastructural advancements are growing in the United Kingdom, the country is expected to account for the largest market share during forecast period.

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“Demand for safe storage of customer, logistics and other data across the retail sector in Europe is increasing, which in turn is boosting the deployment of retail analytics solutions across the region. Moreover, increasing adoption of cloud services across the retail sector and rising IoT and connected devices adoption is expected to positively influence the region’s retail analytics market to fulfil the growing requirement of automated and easily accessible retail services.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Europe 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 Europe 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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