Growing E-commerce Trends Will Steer the Growth of In-store Analytics Market
The Global In-Store Analytics Market Is Expected to Witness a CAGR of over 21% During the Forecast Period to Surpass $3 Billion by 2025
With its recently published study “Global In-store Analytics Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025,” Infoholic Research estimates that there will be huge adoption of in-store analytics solutions by retailers, predominantly due to changing consumer demand and need for actionable insights to enhance customer experience.
In-store analytics enable retailers to analyze several in-store aspects including inventory, sales, and consumer demand to offer insights on the consumer buying pattern. It predominantly focuses on optimizing store performance to increase sales as well as enhance customer experience. Several organizations are significantly investing to develop in-store analytics solutions and are leveraging several technologies to distinctively position their competitive advantage.
Retailers are rapidly moving towards implementation of digital methods to understand customers better. Additionally, brick and mortar retailers are adopting advanced technologies such as AI, cloud, and IoT to drive sales. Increasing adoption of these technologies is expected to drive the demand for in-store analytics in the coming years. Key players including SAP, Mindtree, Happiest Minds, and Capgemini have a significant presence in the in-store analytics market.
The Asia Pacific in-store analytics market is expected to grow at the highest rate due to the growing retail business in this region. Retailers are avoiding the traditional retail business model and adopting the digital way to offer an improved in-store buying experience. Countries such as India, China, and South Korea are among the leaders in adopting digitalization. Alibaba is expanding its offline retail store, Hema Supermarket throughout China. The store uses a technology-driven approach for its in-store purchases, in-store consumption, and online delivery.
“Need for actionable insights and a better understanding of consumer buying pattern will steer the growth of in-store analytics market globally,” pointed out Rahul Kumar Pandey, Research Analyst, Infoholic Research.
Few of the Key Vendors in the In-store Analytics Market:
- Happiest Minds
- Capillary Technologies
Segmentation of the Report:
In-store Analytics Market Segmentation By Deployment
In-store Analytics Market Segmentation By Application
- Customer Management
- Competitive Intelligence
- Sales and Marketing
In-store Analytics Market Segmentation By Component