Press Release

North America Retail Analytics Market to Surpass $ 2 Billion by 2023

Rising smartphone and internet penetration, increasing adoption of SMACT technologies and rising competition in the marketplace to drive North America retail analytics market through 2023 

According to TechSci Research report, North America Retail Analytics Market By Component, By Deployment Mode, By Application, By End User Sector, By Country, Competition Forecast & Opportunities, 2013 – 2023’’, retail analytics market is projected to reach $ 2.1 billion by 2023. Key factors expected to drive the market are increasing demand to reduce CAPEX/OPEX across the retail sector, and rapid adoption of Social, Mobile, Analytics, Cloud & IoT (SMACT) technologies across the region. Moreover, increasing number of retail chains, emerging demand for pricing optimization, and rising adoption of omni-channel business model are anticipated to boost demand for retail analytics in North America during forecast period.   

Browse 3 market data Tables and 21 Figures spread through 56 Pages and an in-depth TOC on  "North America Retail Analytics Market"

Backed by rapid adoption of emerging technologies, rising penetration of analytics services and growing demand for advanced digital infrastructure, the US accounts for the largest market share in North America retail analytics market. With growing adoption of cloud computing services across the region, its application is also gaining momentum across various industries. Moreover, increasing need to reduce the operational costs is boosting the industries to shift their focus to cloud services and deploy their software, services and solutions on the cloud itself. Thus, cloud deployment mode is expected to grow at the fastest rate in the region’s retail analytics market in the coming years. Some of the major market players are IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation and SAS Institute Inc.  

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“Over the past few years, North America has witnessed increased adoption of analytics across the retail sector, owing to the presence of extensive data repositories in the domain, requiring data storage, maintenance and insight extraction capabilities. Moreover, in coming five years, adoption of retail analytics is anticipated to register strong growth across store-based retailers, as they seek to compete with giant e-tailers. This emergence of next-generation hyperconnected retail sector is poised to be an emerging trend across the region over the next few years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“North America 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 North America 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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