Retail Cloud Market to Increase With an Upsurge in E-Commerce Transactions

Economic Indicators That Help Shape Retail Cloud Market Overview

The retail cloud market will witness a healthy growth from 2024 to 2032, a research report suggests. Growing at a CAGR of 15.09%, the market is projected to reach US$ 112.44  billion by 2032. The shift towards Omni channel retail is expected to support the market growth along with the amalgamation of cloud technologies. As predicted by analysts, the high deployment costs will negatively affect the market’s performance from 2018 to 2025. During the forecast period, the market will be supported by the increasing disposable income and technological advancements. The growing requirement for skilled professionals on the other hand will challenge goods or services sector based organizations functioning in the global retail cloud market. Analysts have split the market into component, deployment, service model, and type segments based on products and services. Goods or services based companies have been profiled.

High investments required for technological updates and upgradation of systems are set to affect the global market during the forecast period 2018 to 2025. The report also provides the market’s performance forecasts till 2025. Analysts have studied the strategy of goods or services segment based organizations to help new entrants and established businesses. The goods or services sector itself is supported by consumers aiming for more convenience as well as high demand across industry verticals. During the forecast period 2018 to 2025, the retail cloud market is set to witness a health growth across component, deployment, service model, and type segments as well as regional markets.

Market Segmentation

The goods or services sector has seen growth across component, deployment, service model, and type segments owing to the increasing awareness among consumers and technological developments. To study the market, analysts have further segmented component, deployment, service model, and type into solution and services on the basis of component. The market is further segmented into a type sub segment which is split into analytics, customer management, data security, merchandising, omnichannel, supply chain management, workforce management, and others. Additionally, the retail cloud market on the basis of service model is segmented into software as a service. The market is further segmented into the deployment sub segment which is split into public cloud, private cloud, and hybrid cloud.

The segmental analysis presented in the report provides goods or services field based organizations insights into key growth factors such as the changing social behaviour as well as challenges such as the lack of awareness the market will face from 2018 to 2025. The use of cloud in retail and the rapidly growing population are some of the key factors having an influence on goods or services industry based companies, suggest analysts as per the retail cloud market report. But the report also identifies the shifting preference for cheaper alternatives and the lack of demand from certain regional markets as major threats companies in goods or services will face till 2025. 

Regional Overview

Goods or services market based companies in the retail cloud market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. The growing application areas will be a key growth driver for regional markets. However, dynamic policies and regulations will turn out to be a threat. For the forecast period 2018 to 2025 each of these regional markets are studied in the report. Starting from North America, the regional market and goods or services vertical based companies are spread across the United States, Canada, and Mexico. Concerns regarding high costs will turn out to be a major challenge from 2018 to 2025. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the increasing preference of consumers as well as the growth of communication channels, suggests the report. Similarly, the goods or services sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the retail cloud market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2025.

Competitive Landscape

The global retail cloud market research report brings a comprehensive study of component, deployment, service model, and type market segments, regional analysis, and goods or services vertical based company details of key players. As the forecast period 2018 to 2025 will bring new opportunities for the market owing to advancements in technology and the surging usage across different industries, the market is set to grow at a compound annual growth rate of 18.54% and is predicted to reach a value of US$ 51.77 billion by 2025. With SWOT analysis of goods or services sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the lack of R&D investments and the lack of investments, companies in the goods or services sector can change the way business is done.

Industry News

Lightspeed POS, headquartered in Montreal, has announced the acquisition of VendLimited, a New Zealand-based cloud-based retail management software provider. Lightspeed's global retail base will be strengthened as a result of the purchase, as well as its position as a leading global Omni channel retail marketplace for small and medium-sized companies. The deal is notable because it doubles Lightspeed's client base and extends the company's distribution presence in Asia-Pacific. Lightspeed expects to leverage Vend's complementary modern technology stack and customer interface expertise to continue to offer the most innovative commerce capabilities to merchants, following its acquisition of ShopKeep last year.