The use of cloud computing technology in the retail sector is termed cloud retail. The services and solutions such as real-time inventory management, demand management, and real-time data from point of sale are included in the cloud retail. Growth in trend of customized services to the consumer such as availability of specialized products on demand, cost reduction, better management of the delivery network, loss prevention, and easiness of interaction with customers create the need for adoption of cloud retail. Possible downtime, security of the data, and cost of usage are primary deterrents of the cloud retail market.
The key factors that drive the growth of the cloud retail market include increase in focus on the omni-channel experience and cost-effective benefits of cloud products in retail. Omni-channel retailing describes a communication model that enables customers to interact with multiple sales and media channels. Omni-channel links all communication channels between the enterprise and the customers to create a single unified experience. According to a sales force study, 73% of shoppers opt for multiple channels during their shopping journeys. This drives the retailers to focus on enhancing the omni-channel experience. In addition, increase in adoption of multi-cloud architecture is considered as an important factor to boost the cloud retail market. However, increase in complexity and data security concerns are expected to hamper market growth. Integrating cloud solutions with existing on-premises systems and legacy software is often complex and requires significant effort. Retailers encounter compatibility issues, data migration challenges, and the need for custom integration solutions. Contrarily, retailers that prioritize sustainability by using green cloud solutions can improve their brand image and reputation. Environmentally conscious customers are expected to support and remain loyal to brands that demonstrate a commitment to sustainability. Moreover, sustainable cloud solutions often lead to improved energy efficiency and resource optimization, resulting in potential cost savings for retailers. Lower energy consumption and efficient resource allocation can translate into reduced operational expenses.
The cloud retail market is segmented on the basis of solution, deployment model, enterprise size, service model, and region. On the basis of solution, the market is categorized into supply chain management, customer management, workforce management, reporting and analytics, data security, and others. On the basis of deployment model, the market is divided into public cloud, private cloud, and hybrid cloud. On the basis of enterprise size, the market is bifurcated into large enterprises and small and medium-sized enterprises. On the basis of service model, it is divided into software as a service (SaaS), platform as service (PaaS), and infrastructure as a service (IaaS). On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the cloud retail market such as SAP SE, Fujitsu, Oracle, Infor Inc., Amazon Web Services, Inc., Cisco Systems, Inc., IBM, Epicor Software Corporation, Microsoft, and Google LLC. These players have adopted various strategies such as collaboration, acquisition, and product launch to increase their market penetration and strengthen their position in the cloud retail market.
The key factors that drive the growth of the cloud retail market include increase in focus on the omni-channel experience and cost-effective benefits of cloud products in retail. Omni-channel retailing describes a communication model that enables customers to interact with multiple sales and media channels. Omni-channel links all communication channels between the enterprise and the customers to create a single unified experience. According to a sales force study, 73% of shoppers opt for multiple channels during their shopping journeys. This drives the retailers to focus on enhancing the omni-channel experience. In addition, increase in adoption of multi-cloud architecture is considered as an important factor to boost the cloud retail market. However, increase in complexity and data security concerns are expected to hamper market growth. Integrating cloud solutions with existing on-premises systems and legacy software is often complex and requires significant effort. Retailers encounter compatibility issues, data migration challenges, and the need for custom integration solutions. Contrarily, retailers that prioritize sustainability by using green cloud solutions can improve their brand image and reputation. Environmentally conscious customers are expected to support and remain loyal to brands that demonstrate a commitment to sustainability. Moreover, sustainable cloud solutions often lead to improved energy efficiency and resource optimization, resulting in potential cost savings for retailers. Lower energy consumption and efficient resource allocation can translate into reduced operational expenses.
The cloud retail market is segmented on the basis of solution, deployment model, enterprise size, service model, and region. On the basis of solution, the market is categorized into supply chain management, customer management, workforce management, reporting and analytics, data security, and others. On the basis of deployment model, the market is divided into public cloud, private cloud, and hybrid cloud. On the basis of enterprise size, the market is bifurcated into large enterprises and small and medium-sized enterprises. On the basis of service model, it is divided into software as a service (SaaS), platform as service (PaaS), and infrastructure as a service (IaaS). On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the cloud retail market such as SAP SE, Fujitsu, Oracle, Infor Inc., Amazon Web Services, Inc., Cisco Systems, Inc., IBM, Epicor Software Corporation, Microsoft, and Google LLC. These players have adopted various strategies such as collaboration, acquisition, and product launch to increase their market penetration and strengthen their position in the cloud retail market.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global cloud retail market along with the current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the global cloud retail market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global cloud retail market from 2022 to 2032 is provided to determine the market potential.
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Key Market Segments
By Service Model
- Software as a Service (SaaS)
- Platform as Service (PaaS)
- Infrastructure as a Service (IaaS)
By Solution
- Supply Chain Management
- Customer Management
- Workforce Management
- Reporting and Analytics
- Data Security
- Others
By Deployment Model
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Enterprise Size
- Large Enterprises
- Small and Medium-Sized Enterprises
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- SAP SE
- Oracle Corporation
- Cisco Systems, Inc.
- IBM Corporation
- Google LLC
- Fujitsu
- EPICOR SOFTWARE CORPORATION
- Amazon Web Services, Inc.
- Microsoft Corporation
- Infor Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CLOUD RETAIL MARKET, BY SOLUTION
CHAPTER 5: CLOUD RETAIL MARKET, BY DEPLOYMENT MODEL
CHAPTER 6: CLOUD RETAIL MARKET, BY ENTERPRISE SIZE
CHAPTER 7: CLOUD RETAIL MARKET, BY SERVICE MODEL
CHAPTER 8: CLOUD RETAIL MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
The Cloud Retail Market is likely to experience a significant growth rate of 18.3 % from 2023-2032 owing to increasing market demand for Software as a Service (SaaS) modelCloud retail refers to the part of the retail industry that involves cloud computing technologies and services and uses them to enhance aspects of retail operations Cloud retail allows retailers to take advantage of cloud-based solutions for efficiency, scalability, data management, customer experience, operational agility can all be improved.
The key factors that drive the growth of the cloud retail market include increase in adoption of multi-cloud architecture and increase in focus on the omni-channel experience. Multi-cloud environments permit vendors to optimize their IT infrastructure to fulfill their unique needs and reduce the hazard of downtime, information loss and safety breaches. Moreover, multi-cloud architecture enhances the reliability and flexibility of applications and services. Businesses can reduce the risk of outages and ensure maximum availability, even if one cloud provider experiences an outage by distributing work across cloud data centers of cloud providers. Cloud computing in retail provides retailers with a competitive edge over their e-commerce rivals by allowing them to have greater agility. The legacy systems used by offline retailers come with baggage that includes difficulty in integrating them with modern-day technologies and a costly affair to run the same. In addition, cost-effective benefits of cloud products in retail are considered an important factor to boost the cloud retail market. However, increase in complexity and data security concerns are expected to hamper market growth. Integrating cloud solutions with existing on-premises systems and legacy software can be complex and require significant effort. Retailers may encounter compatibility issues, data migration challenges, and the need for custom integration solutions.
The market also offers growth opportunities to the key players in the market. Rapid improvements in disruptive technologies contribute significantly to the growth of the cloud retail market. These disruptive technologies provide retailers with novel solutions that improve operational efficiency, customer experience, and company agility. In addition, retailers can use IoT technology to connect physical objects, sensors, and systems, forming a network that collects and exchanges data.
The cloud retail market is segmented on the basis of solution, deployment model, enterprise size, service model, and region. On the basis of solution, the market is categorized into supply chain management, customer management, workforce management, reporting and analytics, data security, and others. On the basis of deployment model, the market is divided into public cloud, private cloud, and hybrid cloud. On the basis enterprise size, the market is bifurcated into large enterprises and small and medium-sized enterprises. On the basis of service model, it is divided into software as a service (SaaS), platform as service (PaaS), and infrastructure as a service (IaaS). Region wise, it is analyzed across North America (the U. S., and Canada), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players profiled in the study are SAP SE, Fujitsu, Oracle, Infor Inc., Amazon Web Services, Inc., Cisco Systems, Inc., IBM, Epicor Software Corporation, Microsoft, Google LLC. The players in the market have been actively engaged in the adoption various strategies such as collaboration, product launch, and partnership to remain competitive and gain advantage over the competitors in the market. For instance, in June 2021, Oracle Corporation partnered with the sports retailer, Wiggle. Wiggle migrated its on-premises retail solutions to Oracle merchandising financial planning and merchandizing cloud services on Oracle cloud infrastructure with this collaboration. As Wiggle migrated to cloud, it helped company to save time, cost and stay focused on business. Wiggle added retail demand forecasting cloud service to predict consumer needs to accelerate growth. Moreover, in January 2023, Google Cloud launched four latest and updated AI tools which are a personalized search and browsing experience for e-commerce sites, an AI-driven product recommendation system, a tool that uses machine learning to arrange products on websites, and an AI-powered solution for checking in-store shelves. The update aims to offer customers a smoother online shopping experience and support retailers with in-store inventory management. Such strategies foster cloud retail market growth.
Key Market Insights
By solution, the supply chain management segment was the highest revenue contributor to the market, and is estimated to $50.59 billion by 2032, with a CAGR of 14.8%. However, the data security segment is expected to be the fastest growing segment with the CAGR of 22.5% during the forecast period.By deployment model, the public cloud segment dominated the global market, and is estimated to reach $101.16 billion by 2032, with a CAGR of 17.2%. However, the private cloud segment is expected to be the fastest growing segment with the CAGR of 20.1% during the forecast period.
By enterprise size, the large enterprises segment dominated the global market, and is estimated to reach $127.69 billion by 2032, with a CAGR of 17.2%. However, the small and medium-sized enterprises segment is expected to be the fastest growing segment with the CAGR of 20.0% during the forecast period.
By service model, the software as a service (SaaS) segment dominated the global market, and is estimated to reach $79.31 billion by 2032, with a CAGR of 15.9%. However, the platform as service (PaaS) segment is expected to be the fastest growing segment with the CAGR of 20.5% during the forecast period.
Based on region, North America was the highest revenue contributor, accounting for $15.03 billion in 2022, and is estimated to reach $66.53 billion by 2032, with a CAGR of 16.1%.
Companies Mentioned
- SAP SE
- Oracle Corporation
- Cisco Systems, Inc.
- IBM Corporation
- Google LLC
- Fujitsu
- EPICOR SOFTWARE CORPORATION
- Amazon Web Services, Inc.
- Microsoft Corporation
- Infor Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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