Retail Cloud Market Growing at a CAGR of 20.9% During 2016 to 2021
PUNE, India, February 15, 2017 /PRNewswire/ --
The retail cloud market size is estimated to grow at a CAGR of 20.9% from USD 11.06 billion in 2016 to USD 28.53 billion by 2021, due to factors such as rapid adoption of smartphones, need for compliance & collaboration and shift to Omni-channel experience.
Browse 64 tables and 55 figures, 15 Company profiles spread across 148 pages available at http://www.reportsnreports.com/reports/851676-retail-cloud-market-by-type-solution-and-service-service-model-saas-paas-and-iaas-organization-size-deployment-model-public-private-and-hybrid-cloud-and-region-global-forecast-to-2021.html.
The SMEs segment is expected to have the largest market size during the forecast period. Cloud services have become a central part of the business processes in SMEs due to the ease of use and the flexibility they offer, owing to which they are expected to grow in the coming years. The factors driving the retail sector in SMEs includes the flexibility offered by cloud services. Moreover, the data backup is managed by the application vendors, eventually freeing the staff for other business tasks.
The professional services in the retail cloud market are estimated to hold the largest market share. The professional services include deployment and integrated services. These services enable retailers in lowering risks, reducing complexity, and rising return on investment as they can be customized, are easily applicable, and deliver maximum product assurance. The retail sector is moving toward cloud adoption for efficient operational functions and to offer better customer experiences. Professional services include training development; design, implementation, and project management; deployment methodology; pre-planning; and cost effectiveness.
The list of retail cloud vendors profiled in this report such as Oracle Corporation (California, U.S.), Cisco Systems, Inc. (California, U.S.), SAP SE (Wurttemberg, Germany), IBM Corporation (New York, U.S.), Microsoft Corporation (Washington, U.S.), Computer Sciences Corporation (Virginia, U.S.), Fujitsu Limited (Tokyo, Japan), Infor, Inc. (New York, U.S.), Epicor Software Corporation (Texas, U.S.), JDA Software group, Inc. (Arizona, U.S.) and Syntel Inc. (Michigan, U.S.). Order a copy of Retail Cloud Market by Type (Solution and Service), Service Model (SaaS, PaaS, and IaaS), Organization Size, Deployment Model (Public, Private, and Hybrid Cloud), and Region - Global Forecast to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=851676.
APAC is expected to grow at the highest rate during the forecast period. There is huge potential in this region for cloud adoption in the retail sector, which can be addressed to create better business opportunities. The increasing adoption of retail cloud solutions in this region is due to the economic outlook in Asia, which seems to be positive for retailers, and the tendency of retail cloud solutions to improve the operational issues. The increasing trend towards cloud-based solutions would give rise to the growth of the retail cloud market in this region. North America is expected to hold the largest market share and dominate the retail cloud market in 2016.Various factors contributing to this growth are the organizations' shift toward cloud-based solutions and services, along with the increasing adoption of digital business strategies, and enterprises' preference to personalize the in-store experiences of consumers to provide them with better shopping experiences.
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