The staggering market growth of the Cloud Retail Industry
The retail cloud market is expected to develop at a Compound Annual Growth Rate (CAGR) of 20.9 percent from USD 11.06 billion in 2016 to USD 28.53 billion in 2021. Cloud computing is internet-based computing that is available on demand. To gain a competitive advantage in terms of speed and agility, retail organisations and retailers can move their business applications and infrastructure resources to cloud service architectures such as Platform as a Service (PaaS), Software as a Service (SaaS), and Infrastructure as a Service (IaaS). For operations like workforce management, merchandising, customer management, and Supply Chain Management (SCM), cloud computing's features are tempting and increasingly relevant to the retail business. Cloud's strengths and capabilities are rapidly changing the retail scene by providing a variety of benefits such as cost reductions, usage-based charging, and business continuity and agility.
An in-depth RnD to bring alive the key strengths
Major participants in the retail cloud market in several areas were identified during this research study, and their services, regional presence, and distribution methods were assessed through in-depth conversations. The overall market size was calculated using both top-down and bottom-up methods. The percentage splits gathered from secondary sources such as D&B Hoovers, Bloomberg BusinessWeek, and Factiva, as well as primary respondents, were used to estimate the sizes of the other separate markets. The entire method entails a review of the top market participants' annual and financial reports, as well as thorough interviews with industry professionals such as CEOs, VPs, directors, and marketing executives for crucial market insights (both qualitative and quantitative).
The major players in the retail cloud market include
- Oracle Corporation (California, U.S.)
- Cisco Systems, Inc. (California, U.S.)
- SAP SE (Wurttemberg, Germany)
- International Business Machines Corporation (New York, U.S.)
- Microsoft Corporation (Washington, U.S.)
- Computer Sciences Corporation (Virginia, U.S.)
- Fujitsu Limited (Tokyo, Japan)
- Infor, Inc. (New York, U.S.)
- Epicor Software Corporation (Texas, U.S.)
- JDA Software group, Inc. (Arizona, U.S.)
- Syntel Inc. (Michigan, U.S.)
Retail Cloud Market Dynamics
Drivers
- Rapid adoption of smartphones
- Need for compliance and collaboration
- Shift to omni-channel experience
- compliance and collaboration
Restraints
- Growing concerns regarding security and privacy
Opportunities
- Mobile POS (mPOS)
- IoT in Retail
- Click-and-collect programs
Challenges
- Frequently changing consumer preferences
- Reluctance of retailers to adopt cloud
Significant Market Changes in the Retail Cloud Market
- Oracle acquired LogFire, allowing it to expand the capabilities of its cloud supply chain management solutions. Oracle SCM now includes LogFire's warehouse management capabilities, allowing customers to benefit from improved solutions.
- In Germany, Cisco launched an electronic point-of-sale omni-channel solution for the conventional retail sector. It also integrates multiple manufacturers' systems with inventory management systems and mixes product and customer data, allowing clients to better understand customer behaviour and provide better customer service.
- Accenture and SAP have announced that SAP's current fashion management capabilities would be extended to support fashion and retail firms' digital transformation journeys.
- Accenture supports vertical integration across retail, wholesale, and manufacturing channels, while SAP offers adaptable cloud services with its SAP S/4HANA platform.
Key Target Audience for Market
- Consultancy firms/advisory firms
- Training and education service providers
- Cloud vendors
- Analytics solution providers
- Service providers
- Platform providers
The research report categorises the market to forecast the revenues and analyse the trends in each of the following subsegments:
Retail Cloud Market By Type
Market By Service Model
- Software as a Service (SaaS)
- Platform as a Service (PaaS)
- Infrastructure as a Service (IaaS)
Market By Organisation Size
- Small and Medium Enterprise
- Large Enterprise
Retail Cloud Market By Deployment Model
- Public Cloud
- Private Cloud
- Hybrid Cloud
Market By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Middle East and Africa (MEA)
- Latin America
Summarising the overview of the report
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Delve deeper and get a look into the more detailed version of the expert report.
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