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"
https://www.techsciresearch.com/report/europe-retail-analytics-market/3366.html
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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