Report Code: A05620 | Nov 2023 | Pages: NA | ||
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Request Now !In-store analytics is the process of analyzing and pulling meaningful insights from customer’s behavioral data in a store. This analysis focuses on various customer behaviors that can be measured when the customer is visiting a store. It is focused on optimizing store performance and is widely used by store owners to enhance both customer experience and drive sales. It gives retailers a real-time look at what customers do when they visit a store, which allows a deeper understanding of customers and help retail managers make better business decisions. It involves some key advantages such as understanding customer need, marketing attribution, and personalized in-store experience. These advantages are expected to fuel the growth of the in-store analytics market. In-store analytics can help to change the way a physical store functions, from normal functionality to marketing strategies.Â
The need to provide better customer services and enhanced shopping experiences are the major factors that drive the market growth. In addition, adoption of analytics solutions by the retail industry to help it gain competitive advantages, reduce operational costs, increase profitability, and increased competition from e-commerce players also drive the growth of the market. However, lack of skilled professionals, data security, and privacy concerns hamper the growth of the in-store analytics market.Â
Furthermore, adoption of cloud-based technologies in in-store analytics and increase in the adoption of in-store analytics in emerging economies are anticipated to provide major opportunities for the market. In addition to this, factors such as growing retail market, increasing digitalization in the Asia-Pacific region and high growth potential among developing economies is creating lucrative opportunities for in-store analytics market growth. Moreover, the inclination of developing countries toward emerging technologies such as Artificial Intelligence (AI) and advanced analytics, is also expected to fuel the growth of the global market.
The in-store analytics market is segmented into component, deployment mode, organization size, application, and region. In terms of component, it is bifurcated into solution and services. By deployment mode, it is divided into in on-premise and cloud. As per organization size, the market is segmented into large enterprises and small & medium enterprises. Based on application, the segmentation is done into customer management, in-store operation, strategy & planning, supply chain management, marketing & merchandizing, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the global in-store analytics market analysis are IBM Corporation, SAP SE, SAS Institute Inc., Tableau Software Inc., Celect Inc., Capillary Technologies, Inpixon, Scanalytics Inc., Dor Technologies Inc., and SEMSEYE. Current and future in-store analytics market trends are outlined to determine the overall attractiveness of the market.
In-Store Analytics Market Report Highlights
Aspects | Details |
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By Component |
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By Deployment Mode |
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By Organization Size |
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By Application |
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By Region |
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Key Market Players | Scanalytics Inc., RETAILNEXT, INC., Celect Inc., Inpixon, Dor Technologies Inc., Mindtree Ltd, SEMSEYE, Happiest Minds, SAP SE, Capillary Technologies |
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