The retail intelligence software market size has grown rapidly in recent years. It will grow from $7.1 billion in 2023 to $8.31 billion in 2024 at a compound annual growth rate (CAGR) of 17%. The expansion observed in the historical period can be attributed to several factors, including the rise in e-commerce activity, the proliferation of big data volumes, consumer demand for personalized experiences, increased adoption of mobile technology, and heightened competitive pressures within the retail industry.
The retail intelligence software market size is expected to see rapid growth in the next few years. It will grow to $15.72 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%. The projected growth in the forecast period can be attributed to several factors, including the increasing adoption of artificial intelligence (AI), the growing demand for real-time data processing capabilities, the rising importance of omnichannel strategies in retail, the expanding influence of social commerce platforms, and the increasing focus on safeguarding customer privacy. Significant trends anticipated in the forecast period encompass the widespread adoption of AI technologies, the integration of Internet of Things (IoT) devices to enhance retail operations, the adoption of blockchain technology for improved transparency and security, ongoing product innovations aimed at meeting evolving consumer needs, and continuous technological advancements driving innovation within the retail sector.
The surge in e-commerce is anticipated to drive the expansion of the retail intelligence software market in the future. E-commerce involves the online buying and selling of goods and services through electronic networks, such as the Internet. The increasing adoption of e-commerce is attributed to various factors, including rising internet accessibility, changing consumer preferences favoring online shopping, convenience, and advancements in logistics and payment systems. Retail intelligence software plays a crucial role in enhancing e-commerce activity by collecting, analyzing, and interpreting data related to customer behavior, sales performance, inventory management, pricing strategies, and market trends. For example, data from the United States Census Bureau in February 2024 revealed that total U.S. retail e-commerce sales amounted to$1.83 trillion in the fourth quarter of 2023, marking a 0.4% increase compared to the third quarter of the same year. Consequently, the escalating e-commerce activity is fueling the growth of the retail intelligence software market.
Key players in the retail intelligence software market are offering advanced solutions leveraging IoT (Internet of Things) technologies, such as Bluetooth-LE (BLE)-based retail IoT protocols, to gain a competitive advantage. The Bluetooth-LE-based retail IoT protocol refers to a standardized communication framework tailored for IoT devices used in retail environments. For instance, in December 2023, VusionGroup, a retail technology company based in France, introduced VusionOX, an innovative Bluetooth-LE-based protocol designed to expedite the digitalization of physical commerce. This state-of-the-art connectivity solution seamlessly integrates retail IoT devices with products and individuals, creating a cohesive retail ecosystem. VusionOX, in conjunction with VusionCloud, enables precise geolocation, personalized in-store navigation, guided fulfillment, and contextual shopper interactions. Furthermore, it offers continuous over-the-air feature deployment and battery optimization, contributing to sustainability initiatives.
In March 2022, NielsenIQ, a U.S.-based consumer intelligence firm, acquired ciValue for an undisclosed sum. Through this acquisition, NielsenIQ aims to strengthen its capabilities in delivering comprehensive, data-driven solutions for retailers. ciValue is an Israeli software company specializing in providing retail organizations with customer data and analytics solutions.
Major companies operating in the retail intelligence software market are Supplypike LLC, Rakuten Group, SPS Commerce Inc., Numerator, Kinaxis Inc., Quotient Technology Inc., Trax Retail LTD, AFS Technologies Inc., ThoughtSpot Inc., Sensormatic Solutions, Wiser Solutions Inc., Retail Solutions Inc., Mi9 Retail, DataWeave, Upstream Commerce, ShopperTrak, Premise Data Corporation, TC Group Solutions, Dor Technologies, Intelligence Node, Springboard, Glew.io, Stackline, Omnilytics, Streetspotr GmbH.
North America was the largest region in the retail intelligence software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail intelligence software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the retail intelligence software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Retail intelligence software comprises specialized tools for collecting, analyzing, and interpreting data pertaining to retail operations, consumer behavior, and market trends. Retailers utilize this software to gain insights into business performance, optimize operations, and make data-driven decisions aimed at enhancing the customer experience and increasing profitability.
The primary types of retail intelligence software include cloud-based and on-premises solutions. Cloud-based retail intelligence software is hosted on remote servers and accessed via the Internet, offering flexibility and scalability. These solutions are distributed through both online and offline sales channels and find applications across various industries, catering to both large enterprises and small and medium-sized enterprises. End-users encompass a diverse range of retail sectors including grocery stores, convenience stores, apparel and footwear, mass merchants, specialty retailers, e-commerce platforms, among others.
The retail intelligence software market research report is one of a series of new reports that provides retail intelligence software market statistics, including the retail intelligence software industry global market size, regional shares, competitors with retail intelligence software market share, detailed retail intelligence software market segments, market trends, and opportunities, and any further data you may need to thrive in the retail intelligence software industry. This retail intelligence software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The retail intelligence software market includes revenues earned by entities providing services such as inventory management, sales performance tracking, and data analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
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 intelligence software market size is expected to see rapid growth in the next few years. It will grow to $15.72 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%. The projected growth in the forecast period can be attributed to several factors, including the increasing adoption of artificial intelligence (AI), the growing demand for real-time data processing capabilities, the rising importance of omnichannel strategies in retail, the expanding influence of social commerce platforms, and the increasing focus on safeguarding customer privacy. Significant trends anticipated in the forecast period encompass the widespread adoption of AI technologies, the integration of Internet of Things (IoT) devices to enhance retail operations, the adoption of blockchain technology for improved transparency and security, ongoing product innovations aimed at meeting evolving consumer needs, and continuous technological advancements driving innovation within the retail sector.
The surge in e-commerce is anticipated to drive the expansion of the retail intelligence software market in the future. E-commerce involves the online buying and selling of goods and services through electronic networks, such as the Internet. The increasing adoption of e-commerce is attributed to various factors, including rising internet accessibility, changing consumer preferences favoring online shopping, convenience, and advancements in logistics and payment systems. Retail intelligence software plays a crucial role in enhancing e-commerce activity by collecting, analyzing, and interpreting data related to customer behavior, sales performance, inventory management, pricing strategies, and market trends. For example, data from the United States Census Bureau in February 2024 revealed that total U.S. retail e-commerce sales amounted to$1.83 trillion in the fourth quarter of 2023, marking a 0.4% increase compared to the third quarter of the same year. Consequently, the escalating e-commerce activity is fueling the growth of the retail intelligence software market.
Key players in the retail intelligence software market are offering advanced solutions leveraging IoT (Internet of Things) technologies, such as Bluetooth-LE (BLE)-based retail IoT protocols, to gain a competitive advantage. The Bluetooth-LE-based retail IoT protocol refers to a standardized communication framework tailored for IoT devices used in retail environments. For instance, in December 2023, VusionGroup, a retail technology company based in France, introduced VusionOX, an innovative Bluetooth-LE-based protocol designed to expedite the digitalization of physical commerce. This state-of-the-art connectivity solution seamlessly integrates retail IoT devices with products and individuals, creating a cohesive retail ecosystem. VusionOX, in conjunction with VusionCloud, enables precise geolocation, personalized in-store navigation, guided fulfillment, and contextual shopper interactions. Furthermore, it offers continuous over-the-air feature deployment and battery optimization, contributing to sustainability initiatives.
In March 2022, NielsenIQ, a U.S.-based consumer intelligence firm, acquired ciValue for an undisclosed sum. Through this acquisition, NielsenIQ aims to strengthen its capabilities in delivering comprehensive, data-driven solutions for retailers. ciValue is an Israeli software company specializing in providing retail organizations with customer data and analytics solutions.
Major companies operating in the retail intelligence software market are Supplypike LLC, Rakuten Group, SPS Commerce Inc., Numerator, Kinaxis Inc., Quotient Technology Inc., Trax Retail LTD, AFS Technologies Inc., ThoughtSpot Inc., Sensormatic Solutions, Wiser Solutions Inc., Retail Solutions Inc., Mi9 Retail, DataWeave, Upstream Commerce, ShopperTrak, Premise Data Corporation, TC Group Solutions, Dor Technologies, Intelligence Node, Springboard, Glew.io, Stackline, Omnilytics, Streetspotr GmbH.
North America was the largest region in the retail intelligence software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail intelligence software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the retail intelligence software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Retail intelligence software comprises specialized tools for collecting, analyzing, and interpreting data pertaining to retail operations, consumer behavior, and market trends. Retailers utilize this software to gain insights into business performance, optimize operations, and make data-driven decisions aimed at enhancing the customer experience and increasing profitability.
The primary types of retail intelligence software include cloud-based and on-premises solutions. Cloud-based retail intelligence software is hosted on remote servers and accessed via the Internet, offering flexibility and scalability. These solutions are distributed through both online and offline sales channels and find applications across various industries, catering to both large enterprises and small and medium-sized enterprises. End-users encompass a diverse range of retail sectors including grocery stores, convenience stores, apparel and footwear, mass merchants, specialty retailers, e-commerce platforms, among others.
The retail intelligence software market research report is one of a series of new reports that provides retail intelligence software market statistics, including the retail intelligence software industry global market size, regional shares, competitors with retail intelligence software market share, detailed retail intelligence software market segments, market trends, and opportunities, and any further data you may need to thrive in the retail intelligence software industry. This retail intelligence software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The retail intelligence software market includes revenues earned by entities providing services such as inventory management, sales performance tracking, and data analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
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 Intelligence Software Market Characteristics3. Retail Intelligence Software Market Trends and Strategies32. Global Retail Intelligence Software Market Competitive Benchmarking33. Global Retail Intelligence Software Market Competitive Dashboard34. Key Mergers and Acquisitions in the Retail Intelligence Software Market
4. Retail Intelligence Software Market - Macro Economic Scenario
5. Global Retail Intelligence Software Market Size and Growth
6. Retail Intelligence Software Market Segmentation
7. Retail Intelligence Software Market Regional and Country Analysis
8. Asia-Pacific Retail Intelligence Software Market
9. China Retail Intelligence Software Market
10. India Retail Intelligence Software Market
11. Japan Retail Intelligence Software Market
12. Australia Retail Intelligence Software Market
13. Indonesia Retail Intelligence Software Market
14. South Korea Retail Intelligence Software Market
15. Western Europe Retail Intelligence Software Market
16. UK Retail Intelligence Software Market
17. Germany Retail Intelligence Software Market
18. France Retail Intelligence Software Market
19. Italy Retail Intelligence Software Market
20. Spain Retail Intelligence Software Market
21. Eastern Europe Retail Intelligence Software Market
22. Russia Retail Intelligence Software Market
23. North America Retail Intelligence Software Market
24. USA Retail Intelligence Software Market
25. Canada Retail Intelligence Software Market
26. South America Retail Intelligence Software Market
27. Brazil Retail Intelligence Software Market
28. Middle East Retail Intelligence Software Market
29. Africa Retail Intelligence Software Market
30. Retail Intelligence Software Market Competitive Landscape and Company Profiles
31. Retail Intelligence Software Market Other Major and Innovative Companies
35. Retail Intelligence Software Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Retail Intelligence 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 intelligence 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.
Reasons to Purchase:
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- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- 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 intelligence 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 intelligence 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; on Premises2) by Sales Channel: Online; Offline
3) by Application: Large Enterprises; Small and Medium-Sized Enterprises
4) by End User: Grocery Stores; Convenience Stores; Apparel and Footwear; Mass Merchant; Specialty Retailers; E-Commerce; Other End Users
Key Companies Mentioned: Supplypike LLC; Rakuten Group; SPS Commerce Inc.; Numerator; Kinaxis 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:
- Supplypike LLC
- Rakuten Group
- SPS Commerce Inc.
- Numerator
- Kinaxis Inc.
- Quotient Technology Inc.
- Trax Retail LTD
- AFS Technologies Inc.
- ThoughtSpot Inc.
- Sensormatic Solutions
- Wiser Solutions Inc.
- Retail Solutions Inc.
- Mi9 Retail
- DataWeave
- Upstream Commerce
- ShopperTrak
- Premise Data Corporation
- TC Group Solutions
- Dor Technologies
- Intelligence Node
- Springboard
- Glew.io
- Stackline
- Omnilytics
- Streetspotr GmbH
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 | $ 8.31 Billion |
Forecasted Market Value ( USD | $ 15.72 Billion |
Compound Annual Growth Rate | 17.3% |
Regions Covered | Global |