Market outlook of the retail IT spending market
Technavios research analyst predicts the global retail IT spending market to grow steadily at a CAGR of close to 4% during the forecast period. Increased need to find customer insights from a large pool of structured and unstructured data is a major driver for investment by retailers on big data analytics technology.
This research report also covers the role of SMAC technology in shaping the growth of the market. Retailers focus on right product assortment for the right stores, depending on the store's attributes, local customer demand, and product preference. Technavio expects analytics platforms to quickly gain popularity among CMOs as a secure and easy to use option. With this, IT spending in retail is expected to significantly improve customer satisfaction in the upcoming four years.
Product segmentation and analysis of the global retail IT spending market
IT services accounted for the largest market share with more than 35% in 2015. However, as per the market forecast, the software segment is likely to witness the fastest growth until 2019 due to high demand emerging from the e-commerce market.
Geographical segmentation and analysis of the retail IT spending market
In 2015, North America outpaced the growth of retail software market in BRIC countries posting a growth of more than 5% from 2014. The market is driven by growing investments in payment systems, omnichannel integrations, data security, and mobile proliferation and engagement.
Competitive landscape and key vendors
The emergence of many vendors in the global retail IT spending market has led to fierce competition. Along with increasing demand from end-users, the market is also witnessing rapid innovations and more importantly, the evolution of retail solutions with advanced computing capabilities, leading to high efficiency and productivity. Vendors in this market are constantly adopting effective marketing and promotional strategies to provide quality products that meet customer expectations.
The leading vendors in the market are -
Other prominent vendors in the market include Amazon.com, Arcplan, Bitam, CAM Commerce Solutions, Chain Drive, Comcash, Cybex Systems, eBay, ECR Software, Epicor, Fujitsu, Genesis Software Systems, Informatica, Intuit, JDA Software Group, JDS Solutions, Magstar, MICROS Systems, Microsoft, MicroStrategy, NCR, Oracle, PayPal, PCMS, Pinnacle Cart, RedPrairie, Retail Information Systems, Retail Pro International, SAS, SYSPRO, Tableau Software, TIBCO Software, and UTC Retail.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global retail IT spending market?
What are the key market trends impacting the growth of the retail IT spending market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global retail IT spending market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the retail IT spending market?
Technavio also offers customization on reports based on specific client requirement.
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