The Global Retail Cloud Market Is Expected To Reach USD 109.98 Billion By 2030, Growing At A CAGR Of 4.56% During The Forecast Period from 2022 To 2030.
Retail Cloud Market Overview:
As new technology comes out, the retail business is adopting new ways of doing things. The retail industry is moving its business applications and infrastructure tools to different cloud service architectures, such as platform as a service, software as a service, and infrastructure as a service. The power has moved from retailers to customers in the retail business, which is in the middle of a revolution. Because more and more people are using smartphones and social media platforms, the power has moved from sellers to customers. Consumers have an effect on product trends through social media and reviews from a wide range of websites.
Cloud computing helps the retail business with things like managing the workforce, the supply chain, the security of data, the Omni channel, and managing customers, among other things. Cloud technology makes it easier for retailers to bring together data from different sources to get a single view of their customers across all networks and transactions. This information helps promote goods around the world in a direct and personal way. Also, cloud-based solutions save time and money and make it possible to view customer information from anywhere and at any time. And it analyzes customers' buying habits and brand choices so that special offers, credit points, and other things can be sent to the right people.
Retail Cloud market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Retail Cloud market in detail. Regional market sizes related to products by type, by application, and by the player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In July 2021, Google Cloud expanded its partnership with The Home Depot, an American home improvement retailer, to enhance the shopping experience for customers. The company leverages Google Cloud infrastructure and artificial intelligence capabilities to meet customers' growing needs and personalize experiences.
- June 2021 - Oracle Corporation enters into partnership with sporting goods retailer Wiggle. Through this partnership, Wiggle migrated its on-premises retail solution to Oracle Merchandising Financial Planning and Merchandising Cloud Service on Oracle Cloud Infrastructure. It helps companies save time and costs and focus on their business when they migrate to the cloud. Wiggle Adds Retail Demand Forecasting Cloud Service to Forecast Consumer Demand at Accelerated Growth.
- June 2021 - IBM Corporation and GK Software partner to enhance customer experience by delivering omnichannel experiences and accelerating retail innovation using hybrid cloud technologies. Through this partnership, GK software's CLOUD4RETAIL solution is accessible through the IBM cloud, which accelerates the adoption of hybrid cloud in the retail industry.
Major Segments Covered in the Global Retail Cloud Market:
Market Key Players:
Oracle, Cisco Systems, SAP SE, International Business Machines Corporation, Microsoft, Computer Sciences Corporation, Fujitsu Limited, Infor, Epicor Software Corporation, JDA Software Group, Syntel, Rapidscale, Retailcloud, Retail Solutions, Softvision, Concur Technologies, Amazon, Google, Alibaba, Tecent, Baidu, And Others.
Retail Cloud Market by Types:
- Software as a Service
- Platform as a Service
- Infrastructure as a Service
Retail Cloud Market by Applications:
- Small and Medium Enterprises
- Large Enterprises
Retail Cloud Market by Regions:
North America brought in the most money in 2020, and it is likely to stay at the top of the list during the forecast period. Rapid growth in the retail sector and rising demand for cloud-based solutions for retail can be used to explain steady revenue growth. Also, companies are changing to give their customers a more personalized shopping experience in-store. This is expected to help the market in the region grow in terms of income.
During the forecast period, Asia Pacific is projected to have a fast revenue CAGR. This is because more businesses in developing countries like India, China, and Japan are using new technologies to improve the efficiency of their business models. As part of the digital transformation trend and to stay relevant in changing business environments, companies all over the world have been working on technologies like cloud, AI, ML, and IoT. Using cloud-based retail solutions will improve operations, make the customer experience better, and simplify boring, time-consuming tasks. Several key players are also working to grow their position in Asia-Pacific countries. This is another key factor that is expected to drive growth of the market in the region in the coming years.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
Key factors for the growth of the retail cloud market include surging demand for digital customer experience, mass adoption of smartphones, growing focus on compliance and partnerships, and rapid adoption of omni-channel marketing by retailers. The rapid worldwide adoption of smartphones has attracted attention as these devices act as efficient point-of-sale (POS) systems and support payment management, inventory handling, and location tracking. Moreover, the integration of smartphones and cloud technologies enables retailers to capture real-time information to tailor their products and services to customer preferences and capitalize on new growth opportunities
Due to the high demand for compliance and collaboration among retailers, the retail cloud is being used for end-to-end compliance lifecycle management. It provides detailed product information during procurement and selection of various suppliers and product manufacturing, and provides consistent customer service support. These advantages continue to drive the retail cloud market globally by increasing the adoption rate of the solution.
In addition, as consumers' lifestyles change, they expect more convenience, variety, information, and better products and services from retailers, which puts extreme pressure on supply chains. With the help of retail cloud technology, retailers can manage their operations by alleviating some of the operational complexities in supply chain management, thereby building a greater brand presence. This boosts cloud adoption, thereby driving the growth of the global retail cloud market.
One of the major opportunities in the retail cloud market is the rapid growth of the Internet of Things (IoT) in the retail vertical. The adoption of efficient and connected solutions in the retail vertical is expected to reduce risk and reduce production costs, product inventory and inventory management. By using connected devices such as sensors, radio frequency identification (RFID) chips, and cameras, retailers are able to collect critical in-store data to better leverage cloud technology to support better business decisions. "
Report Scope of Global Retail Cloud Market:
CAGR of 20.9% from 2022 to 2030.
Software as a Service, Platform as a Service, Infrastructure as a Service
Small and Medium Enterprises, Large Enterprises
Oracle, Cisco Systems, SAP SE, International Business Machines Corporation, Microsoft, Computer Sciences Corporation, Fujitsu Limited, Infor, Epicor Software Corporation, JDA Software Group, Syntel, Rapidscale, Retailcloud, Retail Solutions, Softvision, Concur Technologies, Amazon, Google, Alibaba, Tecent, Baidu
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America(Brazil, Argentina, Rest of Latin America)
- Rest Of the World
2017 to 2022
2023 to 2030
Points Covered in the Report
- The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
- The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Frequently Asked Questions-
What is the CAGR of Retail Cloud market?
The Retail Cloud Market is growing at a CAGR of 20.9% During Forecast Period.
What are the key types and applications of Retail Cloud market?
- Software as a Service, Platform as a Service, Infrastructure as a Service
- Small and Medium Enterprises, Large Enterprises
Who are the key players in Retail Cloud market?
Oracle, Cisco Systems, SAP SE, International Business Machines Corporation, Microsoft, Computer Sciences Corporation, Fujitsu Limited, Infor, Epicor Software Corporation, JDA Software Group, Syntel, Rapidscale, Retailcloud, Retail Solutions, Softvision, Concur Technologies, Amazon, Google, Alibaba, Tecent, Baidu, And others.
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Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.