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January 1, 2014

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Retail analytics market to reach $4.4 bn by 2019

The latest report from Marketsandmarket predicts that the retail analytics markets is estimated to grow from $1.88 billion in 2014 to $4.4 billion by 2019 and is entitled, “Retail Analytics Market by Business Function (Marketing and Customer, Merchandizing and in-Store, Supply Chain, Strategy and Planning),& by Solutions ( Analytical Tools, Mobile Applications, Reporting Tools) – Worldwide Forecasts and Analysis (2014 – 2019)”.  

According to recent studies, various sources of shrinkage such as theft, organised retail crime (OCR), fraud from supplier’s end, shoplifting and others caused an overall loss of around $112 Billion in 2012. Minimizing such monetary losses is one of the functionalities that the retail analytics solutions offer today. Thus, a number of Small and Medium Businesses (SMBs) and large enterprises are rapidly deploying data analytics tools that can provide effective prediction, analysis and reporting for alleviating shrink. 

The research defines and segments the retail analytics market into various sub-segments with an in-depth analysis and forecasting of revenues. It also identifies the drivers and restraints for this market with the insights on trends, opportunities, and challenges. 

Marketsandmarkets researchers have broadly segmented the retail analytics market by business functions into marketing and customer analytics, merchandising and in-store, supply chain and strategy and planning; by solutions into data management software, analytics software, mobile applications, and reporting and visualisation tools; by services into professional services and support and maintenance services; by deployment type into on-premise and on-demand and by regions into North America (NA), Europe, Latin America (LA), Asia-Pacific (APAC), and Middle East and Africa (MEA). 

The retail analytics market is estimated to grow from $1.88 billion in 2014 to $4.40 billion in 2019, at a Compound Annual Growth Rate (CAGR) of 18.6 percent from 2014 to 2019. Geographically, North America is expected to be the biggest market in terms of revenue contribution while Latin America (LA) and Asia-Pacific (APAC) are expected to emerge rapidly in this market with high CAGRs for 2019.

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