Retail Cloud Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company’s Retail Cloud Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
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The retail cloud market has experienced significant growth in recent years. It is projected to increase from $33.1 billion in 2023 to $39.18 billion in 2024, reflecting a compound annual growth rate (CAGR) of 18.3%. Factors driving growth during the historical period include the shift from legacy systems, the rise of mobile commerce, the demand for omnichannel experiences, and improvements in supply chain efficiency.
What Is the Projected Market Size of the Global Retail Cloud Market and Its Growth Rate?
The retail cloud market is anticipated to experience substantial growth over the next several years. It is projected to reach $81.02 billion by 2028, achieving a compound annual growth rate (CAGR) of 19.9%. Factors contributing to this growth during the forecast period include improved cybersecurity measures, advancements in sustainable and green computing, and challenges related to regulatory compliance.
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What are the Key Drivers Fueling Growth in the Retail Cloud Market?
The growth of the e-commerce sector is projected to drive the expansion of the retail cloud market in the future. E-commerce encompasses the purchasing and selling of products and services via the Internet. In the realm of e-commerce, retail cloud solutions support smooth online retail operations by offering scalable infrastructure, secure data storage, and real-time analytics, thereby improving the efficiency, agility, and customer experience of digital storefronts.
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Who Are the Key Players Driving Growth in the Retail Cloud Market?
Key players in the market include Alphabet Inc., Google LLC, Microsoft Corporation, Alibaba Group Holding Limited, NTT Limited, Amazon Web Services Inc., Accenture PLC, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Fujitsu Limited, SAP SE, Salesforce.com Inc., Cognizant Technology Solutions Corp, Baidu Inc., Adobe Inc., VMware Inc., Atos SE, Workday Inc., T-Systems International GmbH, Infor Inc., Rackspace Technology Inc., Nutanix Inc., Blue Yonder Group Inc., Epicor Software Corporation, Lightspeed Commerce Inc., JDA Software Group Inc., Tekion Corp, SPS Commerce Inc., SymphonyAI Retail CPG
What Are The Emerging Trends Shaping The Growth Of The Retail Cloud Market?
Key players in the retail cloud market are intensifying their efforts to launch retail analytics platforms, such as EY Retail Intelligence, to enhance their revenue potential. EY Retail Intelligence serves as a holistic analytics solution that leverages data-driven insights to assist retailers in making informed strategic decisions, enhancing customer experiences, and optimizing operational efficiency throughout the retail value chain.
What Are the Segments of the Global Retail Cloud Market?
1) By Type: Channel Operations, Supply Chain Management, Customer Management, Merchandising, Workforce Management, Reporting and Analytics, Data Security
2) By Service Model: Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS)
3) By Deployment: Public Cloud, Private Cloud, Hybrid Cloud
4) By Organization Size: Small and Medium Enterprise, Large Enterprise
Geographic Overview: North America at the Helm of the Retail Cloud Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is The Retail Cloud Market Defined?
Retail cloud refers to a cloud-based retail solution that integrates artificial intelligence (AI) and data analytics, enabling retailers to create products that respond to consumer feedback. Through cloud computing, retailers can gather insights from online sources to better address customer needs. This technology facilitates the optimization of supply chains and logistics while providing high-quality and seamless customer experiences.
The Retail Cloud Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Retail Cloud Market Report: Trends, Opportunities, Strategies, and More
The Retail Cloud Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into retail cloud market size, retail cloud market drivers and trends, retail cloud competitors’ revenues, and retail cloud market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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The Business Research Company
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Originally published at https://www.einpresswire.com/article/754523722/global-retail-cloud-market-size-share-and-growth-analysis-for-2024-2033
