Retail cloud market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Retail cloud market by region.

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Retail cloud in the study refers to cloud technology designed for retailers to enable them with cost-effective streamlined operations, the flexibility of scaling up and down the production process, real-time data reporting for interactive customer experience, and quicker speed to market the offerings. Retail Cloud allows the enterprises to expand their retail footprints while ensuring streamlined operations, ease of use of the latest cloud technology and unparalleled agility for an efficient response to the changing market dynamics. The market size in the report global retail cloud market represents revenue generated from the sale of retail cloud solutions at the consumer level

The retail cloud market size was valued above USD 14,000 million in 2017, and is expected to cross USD 51,000 million by 2024 at a CAGR above 20% during the forecast period. With the increasing demand for customer focused, consistent, and reliable retail experience, retail cloud solutions, the global retail cloud industry is gaining huge traction.

High scale adoption of smart devices is driving the global retail cloud market

As per the findings of the research, the software category led the global retail cloud market in 2017 as compared to service. It is expected to continue its strong market hold with potential growth, during the forecast period. The growth is expected due to increasing demand for full software suit systems by various small and medium enterprises, which are lacking technical staff and capital for cloud transition. However, due to the rise of e-commerce and mobility has made it necessary for retailers to have greater visibility into the entire supply chain, thereby increasing their focus on retail cloud services.
Software as a service (SaaS) has been a forerunner in the highest revenue contribution to the global retail cloud market

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COVID-19 Impact

The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Retail cloud market also experienced a slowdown. Statista estimates that the Retail cloud market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Retail cloud market generated revenues of US$ 5.4 trillion at a record high.

The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Retail cloud market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies. 

With information technology (IT) evolving rapidly, retailers are looking for advanced software solutions to improve their business outcomes and face the increasing challenges of meeting dynamic consumer demands. SaaS allows retailers with significant cost reductions to effectively serve the existing market and open new ones.
Globally, North America contributed the largest revenue to the global retail cloud market, accounting for nearly 35% of the total revenues in 2017, and is expected to remain the largest market during the forecast period as well. The retail cloud market has been witnessing higher growth in developing regions such as Asia-Pacific, as compared to the developed regions such as North America, and Europe. However high price sensitivity and competition is expected in the North American and European retail cloud market during the forecast period.

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Competitive Outlook

The research states that the global retail cloud marketplace is competitive in nature, with players developing new seamless retail cloud offerings along with various subscription and attractive low-cost solutions for higher new market penetration. Some of the major players in this industry are Epicor Software Corporation, SAP SE, IBM, Microsoft Corporation, Oracle Corporation, Infor, RetailCloud, and, Cisco Systems Inc.
In the recent past, partnership and agreements have been the major recent activities in the global retail cloud market. For instance, In July 2018 Accenture and Google Cloud partnered to launch the Accenture Google Cloud Business Group (AGBG) which would be focused to enable companies leverage Google Cloud technology and help provide exceptional customer experiences and speed up their digital transformation journeys. The new partnership group will focus on consumer-packaged goods, health, and retail industries. Most of the major vendors in the global retail cloud market are actively focused on enhancing their offerings to meet the ongoing demand.

Market Segmentation: Global Retail Cloud Market

By Solution
, Software
o Supply Chain Management
o Customer Management
o Workforce Management
o Reporting & Analytics
o Others
, Service
o Managed
o Professional

By Model
, Software as a Service (SaaS)
, Platform as a service (PaaS)
, Infrastructure as a Service (IaaS)

By Deployment
, Public Cloud
, Private Cloud
, Hybrid Cloud

By Enterprise Size
, Large Enterprise
, Small and Medium Enterprise (SME)

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By Region
, North America
, Europe
, Asia Pacific
, LATAM
, MEA

What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance

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Tags: Retail Cloud Market Analysis, Retail Cloud Market, Retail Cloud Market Share, Retail Cloud Market Trend

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