Table of Contents
Retail Analytics Market Overview
Retail analytics involves collecting and analyzing data from various sources in retail operations. It helps retailers make informed decisions to improve their business performance, optimize inventory, and enhance customer experience.
By analyzing sales trends, customer behavior, and inventory levels, retailers can make better decisions about pricing, marketing, and supply chain management. This data-driven approach also aids in fraud detection, competitive analysis, and improving overall store layout and merchandising. Ultimately, retail analytics empowers retailers to stay competitive and profitable in today’s dynamic market.
Market Drivers
The global retail analytics market is thriving due to several key factors. The growth of online shopping and the wealth of data available are motivating retailers to use analytics for better online experiences and understanding customer behavior. Personalization is now a priority, meeting consumer expectations for tailored recommendations and pricing.
Inventory management and supply chain improvements are also pushing adoption, cutting costs, and increasing efficiency. The use of advanced analytics like AI and machine learning is on the rise, particularly for predictive analysis and fraud prevention.
Moreover, the COVID-19 pandemic sped up digital adoption, underlining the importance of retail analytics for adapting to changing markets and customer needs.
Market Size
The global retail analytics market is projected to reach approximately $39.6 billion by 2032, up from $5.7 billion in 2022, with a 22% annual growth rate expected from 2023 to 2032.
List of Major Companies
These are the top ten companies operating in the Retail Analytics Market:
Microsoft
Company Overview
| Establishment Year | 1975 |
| Headquarter | Redmond, Washington, U.S. |
| Key Management | Satya Nadella (Chairman and CEO) |
| Revenue (US$ Bn) | $ 211.9 Billion (2023) |
| Headcount | ~ 238,000 (2023) |
| Website | https://www.microsoft.com/ |
About Microsoft Corporation
Microsoft Corporation, a global technology leader, provides retail analytics solutions to a wide range of retail businesses. Through tools like Power BI for data visualization and Azure cloud services for data processing, Microsoft helps retailers analyze sales trends, manage inventory, and understand customer behavior.
Their Dynamics 365 Commerce suite supports point-of-sale management and customer insights. Leveraging artificial intelligence, IoT, and partnerships with system integrators, Microsoft assists retailers in making data-driven decisions, optimizing operations, and enhancing the customer experience across various retail sectors.
Geographical Presence
In North America, it is headquartered in Redmond, Washington, but extends its reach through offices and data centers throughout the United States and Canada. In Europe, Microsoft has a robust presence with operations in countries such as the United Kingdom, Germany, France, and the Netherlands.
Across the Asia-Pacific, including India, Japan, China, Australia, and Singapore, Microsoft is steadily growing, supporting local businesses and initiatives. Latin America also hosts Microsoft, particularly in nations like Brazil, Mexico, and Argentina. The company extends its influence in the Middle East and Africa, with offices, data centers, and partnerships in various countries.
Recent Developments
- In May 2023, Microsoft Corporation introduced Microsoft Fabric, an all-in-one analytics platform that consolidates essential data and analytics tools. This unified product combines technologies such as Azure Data Factory, Azure Synapse Analytics, and Power BI. It enables both data and business professionals to harness the full potential of their data and establish the groundwork for the AI era.
- In January 2023, Microsoft and Salesforce ramped up efforts in advanced retail store technology, introducing systems tailored for smart stores, enhancing customer and employee experiences, and expanding digital advertising capabilities.
IBM
Company Overview
| Establishment Year | 1911 |
| Headquarter | New York, United States |
| Key Management | Arvind Krishna (Chairman & CEO) |
| Revenue (US$ Bn) | $ 60.5 B (2022) |
| Headcount | ~ 288,300 (2022) |
| Website | https://www.ibm.com/ |
About IBM Corporation
IBM Corporation, a global technology leader, offers comprehensive retail analytics solutions. With tools like IBM Watson and Cognos Analytics, IBM helps retailers analyze customer behavior, manage inventory, and make informed decisions.
Their supply chain insights optimize logistics and reduce costs, while customer analytics aids in personalizing marketing efforts. IBM Cloud provides a secure platform for data management, supporting various retail sectors. Collaborating with partners, IBM serves retailers of all sizes, assisting them in enhancing customer experiences, store operations, and market adaptability.
Geographical Presence
IBM Corporation, a prominent global technology company, has a substantial presence across the world. In North America, its headquarters are situated in Armonk, New York, with numerous offices, data centers, and research facilities spanning the United States and Canada. In Europe, IBM maintains a robust presence in countries like the United Kingdom, Germany, France, Italy, and the Netherlands.
Asia-Pacific sees IBM’s growing influence, with operations in India, China, Japan, Australia, and Singapore, fostering local collaborations for technological advancement. Latin America, including Brazil, Mexico, Argentina, and Chile, benefits from IBM’s technology solutions, as does the Middle East and Africa.
Recent Developments
- In April 2023, Bestseller, a European fashion brand based in Denmark, chose IBM Consulting for a significant digital transformation initiative within its Indian operations. With nearly 9,000 stores globally, predominantly in Europe and Asia, Bestseller is a well-established fashion retailer.
- In August 2023, CBRE, a leading commercial real estate services company, partnered with IBM to offer enhanced IT support services to its data center clients.
Oracle
Company Overview
| Establishment Year | 1977 |
| Headquarter | Austin, Texas, United States |
| Key Management | Safra Catz (CEO) |
| Revenue (US$ Bn) | $ 49.9 Billion (2022) |
| Headcount | ~ 164,000 (2023) |
| Website | https://www.oracle.com/ |
About Oracle Corporation
Oracle Corporation, a global technology leader headquartered in Redwood City, California, plays a significant role in retail analytics. Its retail-specific solutions, including Oracle Retail Cloud and Oracle Data Cloud, empower retailers to enhance merchandise planning, optimize inventory, and gain insights into customer behavior.
Oracle Business Intelligence and Autonomous Database further support retailers in visualizing and analyzing data for informed decision-making. Oracle serves a diverse customer base in the retail sector, offering tailored analytics solutions to businesses of all sizes, from small retailers to major global brands.
Geographical Presence
Oracle has a strong foothold in North America, with offices and facilities across the United States. In Europe, the company’s reach extends to key countries such as the United Kingdom, Germany, France, Italy, and the Netherlands.
Oracle’s growing influence in the Asia-Pacific region encompasses nations like India, China, Japan, Australia, and Singapore, where it collaborates with local entities to drive technological innovation. Latin America, including Brazil, Mexico, Argentina, and Chile, benefits from Oracle’s technology solutions, as does the Middle East and Africa.
Recent Development
- In May 2023, Oracle revealed the effective implementation of its cloud-based retail solutions at Prada Group, a renowned luxury brand. Prada is working on merging its physical and digital offerings to gain deeper customer insights and utilize data for a more personalized experience.
- In May 2023, WHSmith North America (WHSNA) chose Oracle’s retail cloud platform, powered by AI, to enhance inventory planning and placement in its US and Canadian stores.
SAS-Institute
Company Overview
| Establishment Year | 1976 |
| Headquarter | Cary, North Carolina, U.S. |
| Key Management | James Goodnight (CEO) |
| Revenue (US$ Bn) | $3.2 Billion (2021) |
| Headcount | ~ 12,170 (2022) |
| Website | https://www.sas.com/ |
About SAS Institute
SAS Institute Inc. is a prominent player in retail analytics, known for its comprehensive suite of solutions designed for the retail sector. Headquartered in Cary, North Carolina, SAS specializes in customer analytics, merchandising analytics, and supply chain optimization.
Serving diverse retail businesses, from fashion to electronics, SAS helps retailers enhance customer experiences, optimize inventory, and improve overall operations. Through collaborations with partners, SAS provides tailored solutions that enable retailers to make data-driven decisions and stay competitive in the dynamic retail industry.
Geographical Presence
SAS Institute Inc. has a global footprint with offices and operations spanning North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Headquartered in Cary, North Carolina, SAS serves a diverse range of industries and organizations worldwide.
Recent Developments
- In June 2023, SAS, a top analytics company, formed a partnership with EBLA, a respected systems integrator in the Arab Gulf region, particularly Qatar. This collaboration aims to offer robust support to Qatari organizations as they embark on their analytics and decision-making initiatives.
- In May 2023, SAS, a leader in analytics, disclosed a $1 billion investment plan over the next three years to enhance advanced analytics solutions customized for specific industries like banking, government, insurance, healthcare, retail, manufacturing, and energy. This initiative builds on SAS’s longstanding commitment to addressing industry-specific challenges with tailored solutions.
SAP
Company Overview
| Establishment Year | 1972 |
| Headquarter | Württemberg, Germany |
| Key Management | Christian Klein (CEO) |
| Revenue (US$ Bn) | $30.8 B (2022) |
| Headcount | ~ 111,961 (2022) |
| Website | http://sap.com/ |
About SAP SE
SAP SE, a global technology leader headquartered in Walldorf, Germany, is a prominent player in retail analytics. With tailored solutions like SAP Customer Activity Repository and SAP Business Intelligence, SAP assists retailers in understanding customer behavior and optimizing inventory. Their retail-specific ERP solution, SAP S/4HANA for Retail, streamlines operations and enhances the customer experience.
Serving a diverse clientele, from local stores to global retail chains, SAP collaborates with partners to deliver comprehensive retail analytics solutions, enabling retailers to make data-driven decisions and adapt to market trends effectively.
Geographical Presence
With its roots in Europe, SAP operates from its German base and extends its influence across the continent, including the United Kingdom, France, Italy, and the Netherlands. North America witnesses SAP’s substantial footprint, with widespread offices and operations throughout the United States and Canada.
In the Asia-Pacific region, SAP is steadily expanding, with a presence in countries like India, China, Japan, Australia, and Singapore, where it actively collaborates with local entities for digital transformation. Latin America, encompassing Brazil, Mexico, Argentina, and Chile, benefits from SAP’s technology solutions, while various Middle Eastern and African countries also host SAP’s operations, contributing to digital innovation.
Recent Developments
- In May 2023, SAP SE and Google Cloud significantly expanded their partnership, unveiling a comprehensive open data solution aimed at simplifying data environments and harnessing the potential of business data.
- In April 2023, Alloy Technologies, Inc. made its Alloy.ai solution accessible through the SAP Store and integrated it into SAP’s industry cloud portfolio for consumer products. Alloy.ai enhances supply chain visibility for consumer product customers using SAP Integrated Business Planning (SAP IBP), offering insights into consumer demand and inventory throughout their supply chains.
Salesforce
Company Overview
| Establishment Year | 1999 |
| Headquarter | San Francisco, California, U.S. |
| Key Management | Marc Benioff (Chairman & CEO) |
| Revenue (US$ Bn) | $ 31.3 Billion (2023) |
| Headcount | ~ 79,390 (2023) |
| Website | http://salesforce.com/ |
About Salesforce, Inc
Salesforce, Inc., headquartered in San Francisco, California, is a global technology company with a significant presence in retail analytics. Its cloud-based solutions cater to a wide range of retailers, facilitating seamless online shopping experiences, personalized marketing campaigns, and data-driven decision-making.
With Salesforce Commerce Cloud, Marketing Cloud, and Einstein Analytics, retailers can optimize digital commerce, engage customers effectively, and gain valuable insights to enhance inventory management and customer satisfaction. Salesforce’s Customer 360 Platform offers a unified view of customer data, empowering retailers to create personalized shopping experiences and adapt to customer preferences across various retail segments.
Geographical Presence
Headquartered in San Francisco, California, Salesforce’s primary base of operations is in North America, where it serves a diverse range of industries throughout the United States and Canada. Europe represents another significant market, with offices and data centers in the United Kingdom, France, Germany, Ireland, and the Netherlands.
The company has been steadily expanding its footprint in the Asia-Pacific region, including India, Japan, China, Australia, and Singapore, through collaborations with local organizations. Salesforce also operates in Latin America, with a presence in countries like Brazil, Mexico, Argentina, and Chile.
Recent Developments
- In September 2023, Salesforce Inc. and Databricks Inc. unveiled a product integration designed to streamline data analytics projects for their shared customers. This integration resulted from their technical collaboration.
- In May 2023, Salesforce introduced two AI-powered tools to boost data analytics capabilities.
Adobe
Company Overview
| Establishment Year | 1982 |
| Headquarter | San Jose, California, U.S. |
| Key Management | Shantanu Narayen (Chairman & CEO) |
| Revenue (US$ Bn) | $ 17.6 Billion (2022) |
| Headcount | ~ 29,239 (2022) |
| Website | https://adobe.com/ |
About Adobe Inc
Adobe Inc., headquartered in San Jose, California, is a prominent technology company with a significant presence in retail analytics. Their suite of solutions includes Adobe Analytics, part of the Adobe Experience Cloud, enabling retailers to analyze customer data from various channels and gain insights into behavior and preferences.
Serving a diverse range of retail businesses, Adobe empowers retailers to optimize marketing efforts and create personalized shopping experiences. With partnerships and integrations, Adobe’s analytics tools are tailored to the retail sector, allowing businesses to make data-driven decisions and enhance customer engagement effectively.
Geographical Presence
With North America as its primary hub, Adobe serves a diverse range of industries and businesses throughout the United States and Canada. In Europe, including the United Kingdom, Germany, France, Ireland, and the Netherlands, Adobe maintains a substantial footprint, particularly in the digital marketing and analytics sectors.
The company has been steadily expanding in the Asia-Pacific region, collaborating with local organizations in countries such as India, China, Japan, Australia, and Singapore. Latin America, including Brazil, Mexico, Argentina, and Chile, benefits from Adobe’s digital solutions, as do various Middle Eastern and African countries.
Recent Developments
- In October 2023, Adobe introduced Project Stardust, a groundbreaking object-aware editing engine powered by generative AI. This innovation is part of Adobe’s latest lineup of early-stage creations that explore new possibilities in generative AI and 3D technologies across various creative fields, including photography, videography, audio, 3D design, and fashion applications.
- In October 2023, Adobe unveiled more than 100 significant innovations and enhancements within Creative Cloud, significantly boosting capabilities and accuracy for creative professionals.
MicroStrategy
Company Overview
| Establishment Year | 1989 |
| Headquarter | Tysons Corner, Virginia, U.S. |
| Key Management | Phong Le (President & CEO) |
| Revenue (US$ Bn) | $ 3.5 Billion (2021) |
| Headcount | ~ 2,121 (2021) |
| Website | https://www.microstrategy.com/en |
About MicroStrategy Incorporated
MicroStrategy Incorporated, headquartered in Tysons, Virginia, is a prominent technology company with a significant presence in retail analytics. Their suite of solutions, including MicroStrategy Analytics, HyperIntelligence, and Mobile Analytics, empowers retailers to gather, analyze, and visualize data from various sources.
This enables better decision-making, real-time insights, and enhanced productivity for retail professionals. Serving a diverse range of retail businesses, MicroStrategy collaborates with partners to deliver comprehensive retail analytics solutions.
Geographical Presence
North America serves as its primary operational base, where the company caters to businesses across the United States and Canada. In Europe, including countries like the United Kingdom, Germany, France, Italy, and Spain, MicroStrategy maintains a strong presence, particularly in the realm of business intelligence and analytics.
The Asia-Pacific region, encompassing India, China, Japan, Australia, and Singapore, witnesses MicroStrategy’s expanding footprint through collaborations with local organizations. Latin America benefits from MicroStrategy’s technology solutions, with a presence in countries like Brazil, Mexico, Argentina, and Chile. Additionally, MicroStrategy contributes to data analytics and business intelligence initiatives in various Middle Eastern and African countries.
Recent Developments
- In November 2023, MicroStrategy Incorporated launched MicroStrategy ONE on AWS Marketplace, combining its potent generative AI tools for business intelligence (BI) with the scalability and reliability of Amazon Web Services (AWS). This provides customers with an accessible solution for deploying scalable AI analytics.
Teradata
Company Overview
| Establishment Year | 1979 |
| Headquarter | San Diego, California, U.S. |
| Key Management | Steve McMillan (CEO) |
| Revenue (US$ Bn) | $ 1.7 Billion (2022) |
| Headcount | ~ 7000 (2022) |
| Website | https://www.teradata.com/ |
About Teradata Corporation
Teradata Corporation, headquartered in San Diego, California, is a significant player in retail analytics. With a focus on data analytics and cloud-based solutions, Teradata provides a range of tailored solutions for retailers. These include Teradata Vantage, which offers insights into customer behavior and inventory management, and services to optimize the customer journey, inventory, and data warehousing.
Serving a diverse retail clientele, Teradata collaborates with partners to deliver comprehensive retail analytics solutions, helping retailers make informed decisions, streamline operations, and stay competitive in the dynamic retail landscape.
Geographical Presence
Teradata serves a wide spectrum of industries and businesses throughout the United States and Canada. In Europe, including countries like the United Kingdom, Germany, France, Italy, and Spain, Teradata maintains a substantial footprint, particularly in the fields of data analytics and cloud-based solutions.
The Asia-Pacific region, covering India, China, Japan, Australia, and Singapore, is witness to Teradata’s expanding influence through collaborations with local organizations. In Latin America, including Brazil, Mexico, Argentina, and Chile, Teradata provides technology solutions and services to support regional businesses. Additionally, Teradata contributes to data analytics and technology initiatives in various Middle Eastern and African countries.
Recent Developments
- In May 2023, Teradata and FICO, a leading analytics software provider, announced their partnership to provide integrated advanced analytics solutions for real-time fraud detection in payments, insurance claim processing, and optimizing supply chain operations.
- In August 2022, Teradata introduced two new products aimed at expanding its user base. One is VantageCloud Lake, a data lake that combines workload management and object storage in the cloud. The second is ClearScape Analytics, which offers data preparation, MLOps tools, and advanced time-series analytics for IoT data.
Altair-Engineering
Company Overview
| Establishment Year | 1985 |
| Headquarter | Troy, Michigan, United States |
| Key Management | James R. Scapa (Chairman & CEO) |
| Revenue (US$ Bn) | $ 572.2 Million (2022) |
| Headcount | ~ 2,800 (2021) |
| Website | https://altair.com/ |
About Altair Engineering
Altair Engineering Inc., headquartered in Troy, Michigan, is a versatile technology company with a presence in various industries, including retail analytics. While not solely focused on retail, Altair offers solutions such as Altair Smart Learning, Smart Product Optimization, and Smart Data Analytics that can be tailored to meet the needs of retailers.
These tools enable retailers to analyze data, improve product design, optimize inventory management, and make data-driven decisions. Altair serves a diverse customer base across industries, making its solutions adaptable for the retail sector, where they contribute to enhancing operations and customer experiences.
Geographical Presence
While it operates across various industries, including retail, its primary operational base is in North America, serving the United States and Canada. In Europe, Altair has a robust presence in countries like the United Kingdom, Germany, France, Italy, and Spain.
The company’s expansion extends to the Asia-Pacific region, including India, China, Japan, Australia, and Singapore, through collaborations with local organizations. Altair also serves Latin American countries like Brazil, Mexico, Argentina, and Chile, along with participating in initiatives in various Middle Eastern and African nations.
Recent Developments
- In November 2023, Altair, a global leader in computational science, unveiled a series of significant updates to its data analytics and AI platform, Altair RapidMiner. These updates aim to enhance integration, boost power, and improve usability for users.
- In November 2023, Altair entered into a memorandum of understanding (MOU) with Universiti Malaysia Perlis (UniMAP) to promote knowledge, innovation, and sustainable technological advancement in Malaysia. The agreement aims to connect technology and education by equipping students with expertise in AI-driven manufacturing applications, fostering industry partnerships, and encouraging collaborative design and industrial projects.
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