A key trend being observed in the retail cloud market is the advent of multiple payment options in the retail sector. Customers are increasingly demanding for shop-on-own-terms, well informed, and multi-channel payment options from retail players. In order to meet these needs and preferences and for delivering seamless customer purchasing experience, retailers are increasingly adopting cloud-based retail payment solutions across the world. This is predicted to increase the demand for retail cloud in the coming years.

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When geography is taken into consideration, North America is predicted to account for a significant share of the retail cloud market in the coming years. The solutions category held the largest share of the market in the region in the past, and the largest demand is predicted to be created for supply chain management solution in the near future. Reporting & analytics solution is expected to register the highest CAGR in the near future. The U.S. retail cloud market is projected to grow at the faster pace in the coming years.

Another primary driving factor of the retail cloud market is the shift of retailer to omni-channel, which has become an important requirement for retailers in order to stay competitive in the market. Through omni-channel customers can research on different services and products, compare prices, make decisions regarding purchasing, and receive the product through multiple channels. Retail cloud enables effective and efficient omni-channel fulfillment with different tools, such as predictive intelligence for enabling highly personalized shopping experience and cloud-based platform for providing consistent customer experience for multiple brands.

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Hence, the rising utilization of smart devices and shift of retailers to omni-channel are driving the growth of the market.

The research offers the historical market size of the global retail cloud market for the period 2013 – 2016 and the market forecast for the period 2017 – 2023.

GLOBAL RETAIL CLOUD MARKET

• By Type – Solution (Supply Chain Management, Customer Management, Workforce Management, Reporting and Analytics, Data Security, and Others) and Service (Managed Service and Professional Service)
• By Service – Software as a Service, Platform as a Service, and Infrastructure as a Service.
• By Deployment Model – Public Cloud, Hybrid Cloud, and Private Cloud
• By Enterprise Type – Large Enterprises and Small and Medium Enterprises
• By Region – North America, Europe, Asia-Pacific and Middle-East & Africa (MEA), and Latin America