Middle East and Africa Retail Analytics Market is expected to undergo a CAGR of 19.6% during the forecast period 2021 to 2028.
Market Analysis and Insights Middle East and Africa Retail Analytics Market
Growing use of IoT, is contributing toward the market growth. Increasing use of internet of things in retail processes increases the productivity and efficiency of the retailing is creating demand for retail analytics tools. Internet of things refers to faster and efficient logistics, supply chain management and inventory management In-store buyer behavior tracking, smart warehouses and others. Internet of things has been enabling retailers to connect with both businesses and customers. Retailers now-a-days are engaged in making business processes digitized and centralized.
Digital transformation and centralization with retail analytics provides better services and efficiency to retail process. Increasing technological advances, new innovations and digitization of business processes are making it difficult for workers, employees, and staff to match their skill set with the needs of growing and technologically updated operations. This creates skill gap between the staff and business. There is shortage of technical skilled expertise with relevant qualifications and knowledge as technology upgrades day by day.
Retail analytics refers to the process of using analytics tool to gather insights pertaining to business trends, consumer purchasing patterns, and overall performance in the retail industry. It helps retailers by providing them information related to merchandising, inventory, pricing, which further results in improved sales and customer relationship.
Middle East and Africa Retail Analytics Market Scope
Retail analytics market is segmented on the basis of offering, deployment model, organization size, business functionality, application, and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
· On the basis of offering, the retail analytics market has been segmented into software and services. Software held largest share in the market in 2021. This is mainly due to surging demand for retail analytics software for purposes areas such as inventory analysis, customer management, point of sale, and others.
· On the basis of deployment model, the retail analytics market has been segmented into cloud and on premises. Cloud held larger share in the market in 2021. This is mainly attributed to shift toward digital transformation and growing demand for huge storage capacity.
· On the basis of organization size, the retail analytics market has been segmented into large enterprises and small and medium enterprises (SMES). Large enterprises held larger share in the market in 2021. This is mainly due to increasing adoption of analytics software by large organizations for several application areas such as merchandising analysis, sales forecasting, and among others.
· On the basis of business functionality, the retail analytics market has been segmented into sales and marketing, supply chain, finance, operations, procurement and human resource. Sales and marketing held largest share in the Middle East and Africa retail analytics market in 2021. This is mainly attributed to actionable insights provided by the retail analytics software, which further supports in increased sales for the company and improved decision making.
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Middle East and Africa Retail Analytics Market Country Level Analysis
U.A.E. accounted for maximum share in the retail analytics market, due to strong growth of retail sector, developed infrastructure, surging focus of the government toward investment in retail analytics, and growing consumer demand for customized shopping.
The country section of the retail analytics market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Middle East and Africa Retail Analytics Market Share Analysis
The Middle East and Africa Retail Analytics Market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Middle East and Africa Retail Analytics Market.
Key Players Middle East and Africa Retail Analytics Market
- IBM Corporation
- SAP SE
- Tableau Software LLC
- TIBCO Software Inc.
- Retail Solutions Inc.
- RetailNext Inc.
- Alteryx Inc.
- Teradata Corporation
- MicroStrategy Incorporated
- SAS Institute Inc.
- Wipro Limited
- HCL Technologies Limited
- QlikTech International AB
- Flir Systems Inc.
- Fractal Analytics Inc.
- Happiest minds
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MAJOR TOC OF THE REPORT
- Chapter One: Introduction
- Chapter Two: Market Segmentation
- Chapter Three: Market Overview
- Chapter Four: Executive Summary
- Chapter Five: Premium Insights
- Chapter Six: Global Middle East and Africa Retail Analytics Market by Product Procedure type
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