The retail operations software market size has grown strongly in recent years. It will grow from $1.22 billion in 2023 to $1.3 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The expansion observed in the historical period can be attributed to several factors, including the increasing demand for efficiency and automation within retail operations, the rise of omni-channel retailing strategies enabling seamless customer experiences across multiple channels, a heightened focus on enhancing the overall customer experience, the necessity for scalability and flexibility to adapt to changing market demands, and the pursuit of competitive differentiation among retailers.
The retail operations software market size is expected to see strong growth in the next few years. It will grow to $1.68 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The projected growth in the upcoming period is expected to be driven by several factors, including the expansion of multi-channel retailing strategies aimed at reaching customers through various channels, a heightened focus on customer relationship management to enhance loyalty and satisfaction, compliance with regulatory standards to ensure legal and ethical operations, and efforts towards efficiency and cost reduction to improve profitability. Key trends anticipated in the forecast period encompass the adoption of mobile-first solutions to cater to the increasing use of mobile devices for shopping, leveraging artificial intelligence (AI) and machine learning (ML) technologies to optimize retail operations and personalize customer experiences, the adoption of cloud-based solutions for flexibility and scalability, and a growing emphasis on sustainability and ethical sourcing practices to meet consumer preferences and regulatory requirements.
The proliferation of retail stores is expected to drive the expansion of the retail operations software market in the foreseeable future. Retail stores are physical establishments where goods or services are directly sold to consumers for personal use or consumption. The increase in retail store numbers is attributed to economic growth and technological advancements, particularly the integration of e-commerce solutions. Retail operations software plays a crucial role in optimizing store processes, ranging from inventory management to customer relationship management, thereby enhancing efficiency and improving the overall customer experience within the retail sector. For example, data from January 2024, sourced from the National Association of Convenience Stores, a US-based trade association, revealed that the number of convenience stores operating in the United States at the beginning of 2024 reached 152,396, marking a 1.5% increase compared to the previous year. Consequently, the rise in retail store numbers is fueling the growth of the retail operations software market.
Major players in the retail operations software market are integrating AI-driven supply chain optimization solutions, such as AI-powered point-of-sale (POS) software, to augment various facets of retail operations. AI-powered POS software leverages artificial intelligence and machine learning technologies to enhance the point-of-sale process in retail management systems. For instance, in July 2023, Urban Vyapari, an India-based provider of cloud-based solutions, introduced AI-powered POS software aimed at revolutionizing retail and restaurant industries. This innovative POS solution offers advanced digital transformation tools and accurate inventory tracking based on real-time sales data and supply levels. Moreover, it enables seamless payment processing across multiple channels, including online platforms, mobile apps, chat, social apps, and in-store transactions, catering to diverse consumer preferences.
In August 2023, StoreForce, a Canada-based developer specializing in store execution tools for retailers, acquired ThinkTime in an undisclosed deal. This strategic acquisition enables StoreForce to offer a comprehensive technology solution suite to retailers, enhancing productivity, execution, and engagement across all operational levels. By integrating StoreForce's operations software platform with ThinkTime's task management solutions, the combined entity aims to drive bottom-line value by optimizing store operations and enhancing customer experiences. ThinkTime, based in the US, is renowned for its cloud-based retail operations software systems, contributing significantly to the advancement of operational efficiency in the retail sector.
Major companies operating in the retail operations software market 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.
North America was the largest region in the retail operations software market in 2023. 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. The countries covered in the retail operations software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Retail operations software encompasses a category of software applications meticulously crafted to streamline and oversee diverse operational facets within retail businesses. These software solutions are customized to address the distinctive requirements of retailers, facilitating efficient management of inventory, sales, customer relationships, and other fundamental operations.
The primary types of retail operations software include cloud-based and web-based solutions. Cloud-based retail operations software entails a centralized system hosted on remote servers and accessed via the internet, empowering retailers to effectively manage inventory, sales, CRM, and analytics from any location. These solutions typically offer flexible pricing models, including subscriptions and one-time licenses, catering to a spectrum of enterprises ranging from large corporations to small and medium-sized businesses.
The retail operations software market research report is one of a series of new reports that provides retail operations software market statistics, including retail operations software industry global market size, regional shares, competitors with a retail operations software market share, detailed retail operations software market segments, market trends and opportunities, and any further data you may need to thrive in the retail operations software industry. This retail operations software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The retail operations software market consists of revenues earned by entities by providing services such as inventory management, order management, customer relationship management, supply chain management, and reporting and analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. The retail operations software market also includes sales of products, including point-of-sale (POS) systems, order management systems, and staff management tools. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The retail operations software market size is expected to see strong growth in the next few years. It will grow to $1.68 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The projected growth in the upcoming period is expected to be driven by several factors, including the expansion of multi-channel retailing strategies aimed at reaching customers through various channels, a heightened focus on customer relationship management to enhance loyalty and satisfaction, compliance with regulatory standards to ensure legal and ethical operations, and efforts towards efficiency and cost reduction to improve profitability. Key trends anticipated in the forecast period encompass the adoption of mobile-first solutions to cater to the increasing use of mobile devices for shopping, leveraging artificial intelligence (AI) and machine learning (ML) technologies to optimize retail operations and personalize customer experiences, the adoption of cloud-based solutions for flexibility and scalability, and a growing emphasis on sustainability and ethical sourcing practices to meet consumer preferences and regulatory requirements.
The proliferation of retail stores is expected to drive the expansion of the retail operations software market in the foreseeable future. Retail stores are physical establishments where goods or services are directly sold to consumers for personal use or consumption. The increase in retail store numbers is attributed to economic growth and technological advancements, particularly the integration of e-commerce solutions. Retail operations software plays a crucial role in optimizing store processes, ranging from inventory management to customer relationship management, thereby enhancing efficiency and improving the overall customer experience within the retail sector. For example, data from January 2024, sourced from the National Association of Convenience Stores, a US-based trade association, revealed that the number of convenience stores operating in the United States at the beginning of 2024 reached 152,396, marking a 1.5% increase compared to the previous year. Consequently, the rise in retail store numbers is fueling the growth of the retail operations software market.
Major players in the retail operations software market are integrating AI-driven supply chain optimization solutions, such as AI-powered point-of-sale (POS) software, to augment various facets of retail operations. AI-powered POS software leverages artificial intelligence and machine learning technologies to enhance the point-of-sale process in retail management systems. For instance, in July 2023, Urban Vyapari, an India-based provider of cloud-based solutions, introduced AI-powered POS software aimed at revolutionizing retail and restaurant industries. This innovative POS solution offers advanced digital transformation tools and accurate inventory tracking based on real-time sales data and supply levels. Moreover, it enables seamless payment processing across multiple channels, including online platforms, mobile apps, chat, social apps, and in-store transactions, catering to diverse consumer preferences.
In August 2023, StoreForce, a Canada-based developer specializing in store execution tools for retailers, acquired ThinkTime in an undisclosed deal. This strategic acquisition enables StoreForce to offer a comprehensive technology solution suite to retailers, enhancing productivity, execution, and engagement across all operational levels. By integrating StoreForce's operations software platform with ThinkTime's task management solutions, the combined entity aims to drive bottom-line value by optimizing store operations and enhancing customer experiences. ThinkTime, based in the US, is renowned for its cloud-based retail operations software systems, contributing significantly to the advancement of operational efficiency in the retail sector.
Major companies operating in the retail operations software market 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.
North America was the largest region in the retail operations software market in 2023. 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. The countries covered in the retail operations software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Retail operations software encompasses a category of software applications meticulously crafted to streamline and oversee diverse operational facets within retail businesses. These software solutions are customized to address the distinctive requirements of retailers, facilitating efficient management of inventory, sales, customer relationships, and other fundamental operations.
The primary types of retail operations software include cloud-based and web-based solutions. Cloud-based retail operations software entails a centralized system hosted on remote servers and accessed via the internet, empowering retailers to effectively manage inventory, sales, CRM, and analytics from any location. These solutions typically offer flexible pricing models, including subscriptions and one-time licenses, catering to a spectrum of enterprises ranging from large corporations to small and medium-sized businesses.
The retail operations software market research report is one of a series of new reports that provides retail operations software market statistics, including retail operations software industry global market size, regional shares, competitors with a retail operations software market share, detailed retail operations software market segments, market trends and opportunities, and any further data you may need to thrive in the retail operations software industry. This retail operations software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The retail operations software market consists of revenues earned by entities by providing services such as inventory management, order management, customer relationship management, supply chain management, and reporting and analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. The retail operations software market also includes sales of products, including point-of-sale (POS) systems, order management systems, and staff management tools. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Retail Operations Software Market Characteristics3. Retail Operations Software Market Trends and Strategies32. Global Retail Operations Software Market Competitive Benchmarking33. Global Retail Operations Software Market Competitive Dashboard34. Key Mergers and Acquisitions in the Retail Operations Software Market
4. Retail Operations Software Market - Macro Economic Scenario
5. Global Retail Operations Software Market Size and Growth
6. Retail Operations Software Market Segmentation
7. Retail Operations Software Market Regional and Country Analysis
8. Asia-Pacific Retail Operations Software Market
9. China Retail Operations Software Market
10. India Retail Operations Software Market
11. Japan Retail Operations Software Market
12. Australia Retail Operations Software Market
13. Indonesia Retail Operations Software Market
14. South Korea Retail Operations Software Market
15. Western Europe Retail Operations Software Market
16. UK Retail Operations Software Market
17. Germany Retail Operations Software Market
18. France Retail Operations Software Market
19. Italy Retail Operations Software Market
20. Spain Retail Operations Software Market
21. Eastern Europe Retail Operations Software Market
22. Russia Retail Operations Software Market
23. North America Retail Operations Software Market
24. USA Retail Operations Software Market
25. Canada Retail Operations Software Market
26. South America Retail Operations Software Market
27. Brazil Retail Operations Software Market
28. Middle East Retail Operations Software Market
29. Africa Retail Operations Software Market
30. Retail Operations Software Market Competitive Landscape and Company Profiles
31. Retail Operations Software Market Other Major and Innovative Companies
35. Retail Operations Software Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Retail Operations Software Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on retail operations software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for retail operations software? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The retail operations software market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Type: Cloud Based; Web Based2) by Pricing Model: Subscription; One-Time License
3) by Application: Large Enterprises; Small and Medium-Sized Enterprises
Key Companies Mentioned: Microsoft Corporation; International Business Machines Corporation; Oracle Corporation; SAP SA; Salesforce.com Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | June 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 1.3 Billion |
Forecasted Market Value ( USD | $ 1.68 Billion |
Compound Annual Growth Rate | 6.6% |
Regions Covered | Global |