Retail Cloud Market – Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2018 – 2024.
According to a new market report published by BlueWeave Consulting, The Global Retail
Cloud Market was valued at USD 14,128.0 Million in 2017 and is projected to expand at a
CAGR of 16.00% from 2018 to 2024, by value, reaching around USD 51,471.3 Million by the
end of the forecast period. According to the report, North America was the largest
contributor in terms of revenue to global retail cloud market in 2017.
High scale adoption of smart devices is driving the global retail cloud market
Increasing adoption of smart devices such as smartphones and tablets is a major factor,
escalating the growth of global retail cloud market. The rapid adoption of smart devices is
attributed to factors such as demand for better network connectivity, seamless information
sharing, and growing number of online activities in retail industry which is positively
impacting the market.
Mobile payment technology is being used to purchase retail products, globally. Apart from
this, with advent of smart devices, retailers are able to communicate directly with prospects
according to their previous purchase history and interest. This enables retailers to align their
business strategy as per the specific interest of consumers and increase operational
efficiency. Further, due to faster processing, easy product comparison, and cheaper credit
fees, increasing adoption of smart devices is expected to continue drive the global market
for a longer term.
Globally, customers while expecting more variety, convenience, information and access to
the product and service from retailers, the complexity of the supply chain is increasing. This
has led to over pressure the retailer to balance the risk of bringing product to market more
quickly ensuring proper assessment of the offerings. In order to ensure continuous brand
identity and protect consumer trust, retailers are in demand for compliance management
services. Thus surging need for better compliance and collaboration in retail cloud market
will accelerate market growth over the forecast period.
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Scope of the Report
The global market for retail cloud is segmented by solution, model, deployment and
enterprise size. The solution segment is further segmented into software and services. The
model segment is further categories into Software as a Service (SaaS), Platform as a