The retail cloud market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 19.6% during the forecast period, to reach USD 114.9 billion by 2028 from USD 47.0 billion in 2023. The advent of IoT in retail sector and adoption of new retail technologies to integrate online and offline shopping experiences is expected to drive the growth of the global retail cloud market.
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By Component, the services segment is expected to grow at a higher CAGR during the forecast period.
The retail cloud service segment is further segmented into professional services and managed services. Retail cloud services refer to the services that cloud infrastructure providers offer to retailers to help them manage their cloud-based solutions. These services may include cloud storage, database management, application hosting, security services, and more. Retailers can use these services to ensure that their cloud-based solutions are secure, scalable, and always available to their customers. Retail cloud services typically include a range of offerings, such as software-as-a-service (SaaS), platform-as-a-service (PaaS), infrastructure-as-a-service (IaaS), and other cloud-based services that are specifically tailored to meet the needs of the retail industry.
By Organization Size, large enterprises hold the largest market size during the forecast period.
Enterprises with more than 1,000 employees are considered large enterprises. The retail industry is highly competitive, and large enterprises need to stay ahead of the curve to survive. The adoption of retail cloud solutions allows large enterprises to streamline their operations, reduce costs, and enhance customer experience. Large enterprises have the resources and infrastructure to implement and manage retail cloud solutions, making it easier for them to leverage the benefits of the technology. They have a large customer base and a vast amount of data that needs to be managed efficiently, which can be achieved through retail cloud solutions.
By Region, Asia Pacific is expected to grow at a higher CAGR during the forecast period.
The Asia Pacific region is the fastest growing region in the global retail cloud market. The growth is mainly driven by the utilization of public cloud services. Public cloud services are widely used by retailers in the Asia Pacific region to enhance their operations, improve customer experiences, and drive innovation. Cloud-based marketing solutions are becoming popular among retailers in the Asia Pacific region who want to personalize their marketing efforts and reach customers across multiple channels. Cloud-based marketing providers such as Adobe and Hubspot offer tools for email marketing, social media marketing, and customer segmentation. In addition, many cloud service providers are expanding their reach by launching new data centers in the region. For instance, In 2022, Alibaba Cloud opened its data centers in Thailand, South Korea and Japan.
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Unique Features in the Retail Cloud Market
Retailers today need to provide a seamless experience across online, mobile, and physical stores. Cloud solutions can help unify customer data, inventory management, and order fulfillment across channels, creating a smooth journey for shoppers.
Retail demand can fluctuate significantly throughout the year. Cloud platforms offer the ability to scale resources (storage, compute power) up or down quickly to meet peak demands during holidays or promotional events, and then scale back down during slower periods. This avoids the need for expensive upfront infrastructure investments.
Cloud-based solutions can store and analyze vast amounts of customer data, past sales information, and even external factors like weather patterns. This empowers retailers to make better predictions about future demand, optimize inventory levels, and avoid stockouts or overstocking.
By leveraging customer data in the cloud, retailers can personalize marketing campaigns, product recommendations, and loyalty programs. This targeted approach can increase customer engagement and sales.
Cloud solutions can connect retailers with suppliers and logistics providers, enabling real-time visibility into inventory levels and shipment tracking. This improves supply chain efficiency and minimizes disruptions.
Many cloud providers offer pre-built integrations with popular retail management software (RMS), point-of-sale (POS) systems, and other industry-specific tools. This simplifies deployments and streamlines data flow across different applications.
Major Highlights of the Retail Cloud Market
The rise of e-commerce and the growing demand for a seamless omnichannel experience are driving the need for cloud-based solutions. Retailers need to bridge the gap between online and physical stores, and cloud platforms provide the tools to unify data, inventory, and customer journeys across channels
Cloud adoption offers significant cost benefits for retailers. Eliminating the need for expensive upfront hardware investments and the ability to scale resources on-demand leads to greater efficiency and cost optimization
Cloud solutions enable retailers to collect, store, and analyze vast amounts of customer data. This empowers them to gain deeper insights into buying behavior, optimize pricing strategies, and personalize marketing campaigns for increased sales and customer engagement
Security is a major concern for retailers handling sensitive customer information. Cloud platforms offer robust security features, data encryption, and compliance with industry regulations, addressing these concerns and allowing retailers to focus on core business activities
The retail cloud market is a dynamic space with constant innovation. Cloud providers are developing new solutions and functionalities specifically tailored to address retail challenges, such as AI-powered demand forecasting and supply chain optimization tools
Retailers are increasingly adopting hybrid and multi-cloud strategies. This allows them to leverage the benefits of public cloud for scalability and cost efficiency, while keeping sensitive data on private clouds for enhanced security
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Top Companies in the Retail Cloud Market
Some of the key players operating in the retail cloud market are AWS (US), Microsoft (US), Google (US), Oracle (US), Salesforce (US), SAP (Germany), Accenture (Ireland), Alibaba Cloud (China), IBM (US), and Cisco (US).
AWS is one of the leading players in the global retail cloud market. The company provides various benefits to retailers, such as scalability, data analytics, cost-effectiveness, and data security. AWS also offers a variety of machine learning tools and services that can help retailers automate and optimize operations. Retailers can use AWS Personalize to create personalized recommendations for their customers or use Amazon SageMaker to build and deploy custom machine-learning models. In addition, AWS provides a range of services, such as Elastic Load Balancing, Amazon Route 53, and Amazon CloudFront, that enable customers to distribute their applications and content across multiple regions and availability zones, further improving their availability and fault tolerance.
Microsoft is one of the leading companies that develops, manufactures, supports, and sells a range of software products and services. The company provides various solutions for cloud, mobility, and productivity. Microsoft’s major cloud offerings include SaaS (Microsoft Dynamics Online [Enterprise Resource Planning (ERP) + CRM] and O365 Online) and IaaS and PaaS (Microsoft Azure [compute, integration, and networking]). It offers Microsoft Azure, which is a widely adopted cloud platform. It also offers Microsoft consulting services that provide organizations advisory for digital transformation. In the retail cloud market, the company offers Microsoft Dynamic 365. This solution is designed to help retailers manage their entire operation, from supply chain and inventory management to point of sale (POS) and customer service.Dynamics 365 for Retail provides retailers with a comprehensive set of tools and features to manage their operations, including inventory management, product information management, order management, and customer engagement. It also offers advanced analytics and reporting capabilities to help retailers make informed business decisions.
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