Market Research Future Insights:
According to MRFR analysis, the global retail cloud market is expected to register a CAGR of 17.42% from 2020 to 2030 and hold a value of over USD 112.44 billion by 2032.
The retail cloud market is a rapidly growing sector that refers to the use of cloud computing technologies and services to support the operations and processes of retail businesses. Cloud computing enables retailers to access and store data, software applications, and services remotely over the internet, rather than relying on local servers and hardware. This can result in increased efficiency, scalability, and cost savings for retailers. The COVID-19 pandemic has had a significant impact on the retail cloud market. With the closure of physical retail stores and an increase in online shopping, retailers have been forced to accelerate their digital transformation efforts and adopt cloud-based technologies to meet the demands of consumers. This has resulted in a surge in demand for cloud-based services such as e-commerce platforms, order management systems, and inventory management systems.
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Key players:
Some of the top key market players are,
- Syntel (US)
- Oracle Corporation (US)
- Microsoft Corporation (US)
- SAP SE (Germany)
- IBM Corporation (US)
- Cisco Systems (US)
- Google Inc (US)
- Accenture (Ireland)
- Fujitsu Global (Japan)
- Infor Inc (US)
Market Segmentation:
The Global retail cloud market has been segmented based on component, type, service model and deployment.
Based on Component: Solution and Services
Based on Type: Supply Chain Management, Customer Management, Merchandising, Analytics, Data Security, Workforce Management, and Omni-Channel are just a few examples.
Based on Service Model: Software as a service, Platform as a service and Infrastructure as a service
Based on Deployment Mode: Public Cloud, Private Cloud and Hybrid Cloud
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Regional Analysis:
In terms of regional analysis, North America currently dominates the retail cloud market, due to the presence of major retail giants such as Walmart, Target, and Amazon. Europe and Asia-Pacific are also expected to witness significant growth in the retail cloud market, as retailers in these regions increasingly adopt cloud-based technologies to enhance their operations and improve customer experiences.
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