What Is The Current and Historic Market Size Analysis Of Retail Cloud Market?
The retail cloud market has seen considerable growth due to a variety of factors.
• The size of the retail cloud market has quickly expanded over the recent years. The value of this market is projected to rise from $38.36 billion in 2024 to $44.95 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 17.2%.
The surge observed during the historical phase can be ascribed to factors such as the shift from legacy systems, the evolution of mobile commerce patterns, the appetite for omnichannel experiences, and improvements to the supply chain.
What are the Forecasted Growth and Key Factors of the Retail Cloud Market?
The retail cloud market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the retail cloud market is predicted to experience significant expansion in the forthcoming years. It is anticipated to reach $100.16 billion in 2029, growing at a compound annual growth rate (CAGR) of 22.2%.
Factors contributing the growth during the forecast period can be traced back to improved cybersecurity measures, green and sustainable computing, and regulatory compliance challenges. Main tendencies within the forecast period include swift digital transformation, enhanced augmented reality (AR) and virtual reality (VR) experiences, personalization and customer insights, acceleration of e-commerce, and the use of blockchain for transparency.
What Are the Critical Driver Fuelling the Retail Cloud Market's Growth?
The anticipated rapid uptake of smartphones is slated to fuel the expansion of the retail cloud market. An escalation in internet usage and the adoption of 5G-powered smartphones has seen a rise in both developed and developing economies, making global real-time connections feasible for users. This convenient access to data has sparked an increase in smartphone demand. Users of retail cloud can retrieve and pull data from any location using their smartphones. For instance, Uswitch Limited, a financial conduct authority based in the UK, reported in February 2023 that mobile connections in the UK began to spike in 2022, tallying up to 71.8 million, marking a 3.8% (approximately 2.6 million)rise since 2021. Projections for 2025 indicate that out of the projected 68.3 million UK residents, 95% (or roughly 65 million individuals) will possess smartphones. Consequently, the fast-paced adoption of smartphones is expected to stimulate the growth of the retail cloud market.
How Is the Retail Cloud Market segmented?
The retail cloud market covered in this report is segmented –
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
Subsegments:
1) By Channel Operations: Omnichannel Management, E-commerce Solutions, Point Of Sale (POS) Integration
2) By Supply Chain Management: Inventory Management, Order Management, Logistics And Transportation Management
3) By Customer Management: Customer Relationship Management (CRM), Customer Engagement Solutions, Loyalty Programs
4) By Merchandising: Product Information Management, Pricing Management, Promotion Management
5) By Workforce Management: Employee Scheduling, Time And Attendance Tracking, Performance Management
6) By Reporting and Analytics: Business Intelligence Tools, Sales Analytics, Customer Insights
7) By Data Security: Data Encryption Solutions, Access Control Management, Compliance Management
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What New Trends Are Influencing the Retail Cloud Market?
Top retail cloud market players are prioritizing technology enhancements, particularly in the retail cloud platform sphere. There is a witnessed growing demand for cloud-based technology that simultaneously enhances customer interaction, eases processes, and reduces IT expenses. For example, Snowflake, an American cloud corporation, debuted a retail data cloud in March 2022, designed to boost collaboration, deliver outstanding customer service, and streamline retail management. This retail data cloud permits retailers, manufacturers, distributors, CPG suppliers, and industry tech providers to utilize their data effectively, gain new data insights, and ensure smooth cooperation across the retail sector.
Who Are the Key Players in the Retail Cloud Market?
Major companies operating in the retail cloud 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
• Adobe Inc.
• VMware Inc.
• Atos SE
• 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 Is The Most Dominant Region In The Retail Cloud Market?
North America was the largest region in the retail cloud market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail cloud market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
