What Fueled The Previous Growth In The Retail Operations Software Market?
The retail operations software market has seen considerable growth due to a variety of factors.
• There has been a robust growth in the size of the retail operations software market in the past few years. It is predicted to enhance from a worth of $1.3 billion in 2024 to $1.39 billion in 2025, recording a compound annual growth rate (CAGR) of 6.8%.
The growth witnessed in the historic period can be ascribed to the increased demand for efficiency in automation, the emergence of omni-channel retailing, focus on enhancing customer experience, importance of scalability and flexibility, and the need for competitive differentiation.
What Is The Expected Growth In The Retail Operations Software Market Size Evolve over the Forecast Period?
The retail operations software market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the retail operations software market is predicted to undergo considerable growth, expanding to a value of $1.79 billion by 2029 with a compound annual growth rate (CAGR) of 6.5%.
This growth over the forecast period can be traced back to the expansion of multi-channel retailing, an emphasis on customer relationship management, adherence to regulatory standards, and a focus on efficiency and cost reduction. Key trends projected for this period include the adoption of mobile-first approaches, the integration of AI and ML, the use of cloud-based solutions, along with an increased focus on sustainability and ethical sourcing.
What Main Forces Are Fueling Expansion In The Retail Operations Software Market?
The expansion of the retail operations software market is anticipated to be fueled by a growing number of retail stores. These stores, which are physical locations where goods or services are sold directly to consumers for personal or consumption use, are experiencing an uptick in numbers due to economic growth and various technological advancements, such as the integration of e-commerce. Retail operations software is utilized primarily to simplify store procedures, ranging from inventory control to customer relationship management, enhancing proficiency and improving the customer experience within the retail industry. For instance, the National Association of Convenience Stores, a trade association based in the U.S., reported in January 2024 that the number of convenience stores operational in the U.S. at the start of 2024 hit 152,396, marking a 1.5% rise from the number in 2023. Consequently, the growing count of retail stores is propelling the expansion of the retail operations software market.
What Are The Primary Segments In The Global Retail Operations Software Market?
The retail operations software market covered in this report is segmented –
1) By Type: Cloud Based, Web Based
2) By Pricing Model: Subscription, One-Time License
3) By Application: Large Enterprises, Small And Medium-Sized Enterprises
Subsegments:
1) By Cloud-Based: Public Cloud, Private Cloud, Hybrid Cloud
2) By Web-Based: Hosted Solutions, SaaS (Software As A Service) Solutions
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What Trends Are Reshaping The Future Of The Retail Operations Software Market?
Significant enterprises in the retail operations software market are using AI-enabled supply chain improvement solutions, including AI-centric POS software, to augment different facets of retail functions. This AI-fuelled POS software utilizes AI and machine learning to bolster various elements of the point-of-sale processes. For example, in July 2023, Urban Vyapari – a company from India that offers cloud-powered solutions – introduced AI-empowered POS software intended to drastically evolve the retail and restaurant sectors by offering advanced POS remedies and digital change tools for forward-looking businesses. This AI-integrated POS system aids in averting losses by precisely monitoring inventory and purchase orders based on sales and current supply levels. Moreover, it provides customers the capability to manage nearly all forms of payment across online platforms, mobile applications, via chat, social apps, and in-store transactions.
Who Are the Key Players In The Retail Operations Software Market?
Major companies operating in the retail operations software market report are:
• Microsoft Corporation
• International Business Machines Corporation
• Oracle Corporation
• SAP SA
• Salesforce.com Inc.
• Adobe Inc.
• Square Inc.
• Intuit Inc.
• NCR Corporation
• Shopify Inc.
• NetSuite Inc.
• Zoho Corporation
• Epicor Software Corporation
• Blue Yonder
• Cegid Group
• Lightspeed POS Inc.
• Aptos Inc.
• ACCEO Solutions Inc.
• Kibo Commerce
• LS Retail ehf
• Revel Systems
• ECR Software Corporation
• Celerant Technology Corporation
• Retail Pro International LLC
• RetailOps
What Is The Most Dominant Region In The Retail Operations Software Market?
North America was the largest region in the retail operations software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail operations software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
