NEW YORK, United States, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “In-Store Analytics Market By Organization Size (Large Enterprises And Small & Medium Enterprises), By Deployment Model (On-Premise And Cloud Models), By Application (Risk & Compliance Management, Store Operations Management, Merchandising Analysis, Marketing Management, Customer Management, And Others), By Components (Services And Software) And By Region - Global Industry Analysis, Size, Share, Price, Trends, And Forecast, 2023 - 2030” in its research database.
According to the latest research study, the global In-Store Analytics Market size was valued at approximately USD 1158.76 million in 2022. The market is expected to grow above a CAGR of 19.54% and is anticipated to reach over USD 4831.26 million by 2030.
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In-Store Analytics Market Overview:
In-store analytics is the solution that assists retailers in connecting with and attracting their target consumers. The solution also accumulates vital data regarding customer behaviour, product preferences, demographic information, and purchasing patterns. Additionally, the in-store analytics optimise the performance of the stores by enhancing both the consumer experience and overall sales. Additionally, the solution enables real-time analysis of consumer behaviour and journey within the store. The solution provides digitally gathered data and facilitates the connection between consumer purchasing behaviour and retailers.
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Key Insights from Primary Research
- As per the analysis, the In-Store Analytics market share is likely to grow above a CAGR of around 19.54% between 2023 and 2030.
- The In-Store Analytics market size was worth around USD 1158.76 million in 2022 and is estimated to hit approximately USD 4831.26 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The increasing adoption of in-store analytics solutions by store retailers due to the proliferation of e-commerce platforms is one of the main factors driving the growth of the global in-store analytics market.
- By deployment model, the on-premise deployment model accounts hold a major share in the global market.
- By components, the software segment holds the largest share of the global in-store analytics market, as it enables retailers to track overall sales and develop business strategies based on consumer preferences.
- On the basis of region, the “North America” Will Likely Overtake the Global Market.
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Global In-store Analytics Market: Growth Factors
One of the major factors driving the growth of the global in-store analytics market is the growing adoption of in-store analytics solutions by store retailers due to the growing number of e-commerce platforms. The solution also assists in boosting the overall sales of the stores by offering the best possible products to its customers. Also, the high penetration rate of smartphones and the internet in developing and under developing economies is further boosting the growth of the global in-store analytics market. The emergence of cloud-based analytics is likely to significantly propel the growth of the global in-store analytics market and create lucrative growth opportunities during the forecast period.
The growing requirements to facilitate better customer service along with exotic shopping experience is also likely to bolster the growth of the global in-store analytics market during the forecast period. Retailers are increasingly adopting in-store analytics solutions to gain a competitive edge in the global in-store analytics market.
Competitive Players
The report contains qualitative and quantitative research on the global In-Store Analytics Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
Some of the main players in the global In-Store Analytics market include;
- Thinkinside
- Scanalytics Inc
- SAP
- RetailNext Inc
- Retail Solutions Inc
- Mindtree Ltd
- Inpixon
- Happiest Minds
- Capillary Technologies
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Global In-store Analytics Market: Segmentation
The global in-store analytics market can be segmented into organization size, deployment model, application, component, and region.
By organization size, the market can be segmented into large enterprises and small & medium enterprises. By deployment model, the market can be segmented into on-premise and cloud models. The on-premise deployment model accounts for the largest share in the global in-store analytics market as it offers organizations full control over data, systems, applications, and platforms. Also, it can be managed and handled well by the organization’s IT staff itself. The growth can also be attributed to the scope for greater flexibility for customizing the available software as per the needs and dynamics of the organization.
By application, the market can be segmented into risk & compliance management, store operations management, merchandising analysis, marketing management, customer management, and others. By components, the market can be segmented into services and software. The software segment holds the largest share in the global in-store analytics market as it helps stores to monitor the overall sales and develop business plans according to customer preferences.
The service segment is anticipated to register significant growth during the forecast period. Moreover, the service segment can further be bifurcated into professional and managed services. The professional segment leads the market owing to the fact that it improves the performance efficiencies, enhances strategic outlook, and transforms business operations for retail-related activities.
Regional Analysis:
North America holds the largest share of the global market for in-store analytics due to the region's high adoption rates for such solutions. Additionally, the increasing research and development activities in the region to develop more innovative solutions are accelerating the expansion of the regional market.
Asia-Pacific is anticipated to experience substantial growth over the forecast period due to the region's ongoing technological advancements.
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Key questions answered in this report:
- What is the market size and growth rate forecast for In-Store Analytics industry?
- What are the main driving factors propelling the In-Store Analytics Market forward?
- What are the leading companies in the In-Store Analytics Industry?
- What segments does the In-Store Analytics Market cover?
- How can I receive a free copy of the In-Store Analytics Market sample report and company profiles?
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 1158.76 Million |
| Market Forecast in 2030 | USD 4831.26 Million |
| Growth Rate | CAGR of 19.54% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Thinkinside, Scanalytics Inc, SAP RetailNext Inc, Retail Solutions Inc, Mindtree Ltd, Inpixon, Happiest Minds, Capillary Technologies |
| Segments Covered | By Organization Size, By Deployment Model, By Application,By Components, And By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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The global In-Store Analytics market is segmented as follows:
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Deployment Model
- On-premise
- Cloud Models
By Application
- Risk & Compliance Management
- Store Operations Management
- Merchandising Analysis
- Marketing Management
- Customer Management
- Others
By Components
- Services
- Software
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market
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