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In-Store Analytics Market

In-Store Analytics Market Size, Share & Segmentation by Component (Software and Services), by Deployment Mode (On-premise and Cloud), by Organization Size (Large Enterprises and Small & Medium Enterprises), by Application (Customer Management, Marketing Management, Merchandising Analysis, Store Operations Management, Risk and Compliance Management, and Other), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/ICT/2622 | July 2022 | Region: Global | 134 Pages

Report Scope & Overview:

The In-Store Analytics Market size was valued at USD 2.26 Bn in 2021 and is expected to reach USD 10.33 Bn by 2028, and grow at a CAGR of 24.23% over the forecast period 2022-2028.

In-store analytics is the process of evaluating and extracting useful insights from a store's consumer behavioral data. This research focuses on several consumer behaviors that may be measured during a retail visit. It is aimed at improving retail performance and is commonly utilized by store owners to improve both the customer experience and sales. It provides merchants with a real-time view of what customers do when they visit a shop, allowing for a better knowledge of customers and assisting retail management in making better business decisions. Understanding consumer demand, marketing attribution, and tailored in-store experience are some of the primary benefits. These benefits are projected to propel the in-store analytics industry forward. In-store analytics may assist in changing the way a physical shop operates, from the standard functionality to marketing techniques.

In-Store Analytics Market

MARKET DYNAMICS:

KEY DRIVERS:

  • Ecommerce Players' Increased Competition.

  • Improved Customer Service and Shopping Experience.

  • Increasing Data Volume in Relation to In-Store Operations.

RESTRAINTS:

  • New Advanced Technologies Raise Data Security and Privacy Concerns.

  • Inadequate Skilled Personnel.

OPPORTUNITY:

  • The Arrival of Cloud-Based Analytics.

  • Emerging Economies Have a High Growth Potential.

CHALLENGES:

  • Retailers' Reluctance.

IMPACT OF COVID-19:

Due to lockdowns, travel bans, and commercial shutdowns, COVID-19 has had an impact on economies and businesses in a number of nations. The closure of numerous facilities and factories has disrupted worldwide supply chains, severely impacting manufacturing, delivery schedules, and product sales in the global market. Few corporations have already acknowledged anticipated delays in product deliveries and a drop in future product sales. Furthermore, worldwide travel prohibitions enforced by nations in Europe, Asia-Pacific, and North America are impacting commercial cooperation and partnerships.

MARKET ESTIMATION:

During the projected period 2022-2028, the software segment is predicted to increase substantially. This is because to increased software use. Stores can utilize in-store analytics software to measure sales in order to better understand customer preferences and adjust company strategies. By spotting patterns and irregularities early, stores can foresee threats such as shoplifting and out-of-stock situations. Furthermore, emerging technologies like as artificial intelligence (AI) and the integration capabilities of in-store analytics software have enabled real-time customer demand forecasting. During the projected period 2022-2028, the services segment is predicted to increase quickly. Consulting services typically concentrate on critical challenges and opportunities in strategy, marketing, operations, technology, mergers and acquisitions, and finance, resulting in better effectiveness, improved performance, lower costs, and higher resilience. Retail shops, retail planners, and merchandisers all require consulting services to better their strategic view, increase performance efficiency, and transform their retail-related company operations into more efficient and cost-effective operations.

The market is divided into four applications: customer management, marketing management, merchandising analysis, store operations management, risk and compliance management, and others. By 2028, the Customer Management sector is predicted to have the biggest market share. Other variables, such as rapidly changing demographics and uncertain economic recovery, present merchants with additional challenges in addition to growing sales. As a result, merchants attempt to determine which goods, services, and offers are most enticing to customers, emphasizing the need for an in-store analytics platform and the necessity for retailer consumer interaction analytics. Furthermore, AI-based video analytics saves organizations time and money while also delivering non-security-related information. Using security cameras with analytics in the retail industry, store owners may detect shoplifters.

The on-premises solution gives enterprises complete control over the platform, applications, systems, and data, which can be handled and maintained by the organization's in-house IT personnel. The rise of the on-premises deployment strategy is mostly due to the ability to customize the software to meet the changing needs of a company. The business that handles customer credentials prefers the on-premises deployment strategy since the systems may be overseen by the organization's employees. On-premises implementation is typically used in retail businesses where data security and privacy are of primary concern.

KEY MARKET SEGMENTS:

On The Basis of Component         

  • Software

  • Services

On The Basis of Deployment Mode        

  • On-premise

  • Cloud

On The Basis of Organization Size          

  • Large Enterprises

  • Small & Medium Enterprises

On The Basis of Application        

  • Customer Management

  • Marketing Management

  • Merchandising Analysis

  • Store Operations Management

  • Risk and Compliance Management

  • Others

In-Store Analytics Market

REGIONAL ANALYSIS:

During the forecast period 2022-2028, North America will lead the Global In-store Analytics market. By 2028, North America is predicted to have the greatest market share. North America is predicted to have the highest adoption of in-store analytics solutions when compared to other areas. This is attributable to the presence of numerous industrialized economies, including Canada and the United States, as well as the increased emphasis on R&D and technological breakthroughs. The US retail sector is one of the largest in the world, thanks to the presence of retail global behemoths. During the projection period 2022-2028, Asia Pacific is predicted to develop fast at a CAGR. This is because in-store analytics solutions for retail restructuring are becoming more popular. Emerging markets, particularly India, China, and Japan, are focusing on data management in order to make data-driven business choices and optimize retail operations.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The major key players are SAP SE, Celect Inc., Capillary Technologies, Inpixon, Scanalytics Inc., Dor Technologies Inc., SEMSEYE, RETAILNEXT, INC., Mindtree Ltd, and Happiest Minds

 

In-Store Analytics Market Report Scope
Report Attributes Details
Market Size in 2021 US$ 2.26  Billion
Market Size by 2028 US$ 10.33 Billion
CAGR CAGR of 24.23% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Component (Software and Services)
• by Deployment Mode (On-premise and Cloud)
• by Organization Size (Large Enterprises and Small & Medium Enterprises)
• by Application (Customer Management, Marketing Management, Merchandising Analysis, Store Operations Management, Risk and Compliance Management, and Other)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles  SAP SE, Celect Inc., Capillary Technologies, Inpixon, Scanalytics Inc., Dor Technologies Inc., SEMSEYE, RETAILNEXT, INC., Mindtree Ltd, and Happiest Minds
Key Drivers •New Advanced Technologies Raise Data Security and Privacy Concerns.

•Inadequate Skilled Personnel.
RESTRAINTS •Inadequate awareness and excessive service costs.

•There are no comprehensive IT asset disposition procedures in place.


Frequently Asked Questions (FAQ) :

Ans: - The estimated market size for the In-Store Analytics market for the year 2028 is USD 10.33 Bn.

Ans: - Ecommerce Players' Increased Competition and Improved Customer Service and Shopping Experience.

Ans: - The segments covered in the In-Store Analytics Market report for study are on the basis of Component, Deployment Mode, Organization Size, and Application.

Ans. The primary growth tactics of In-Store Analytics market participants include merger and acquisition, business expansion, and product launch.

Ans: - Manufacturers, Research Institutes, university libraries, suppliers, and distributors of the product.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of the Ukraine- Russia war

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7. PEST Analysis

 

8. In-Store Analytics Market Segmentation, by Component 

8.1 Software

8.2 Services

 

9. In-Store Analytics Market Segmentation, by Deployment Mode

9.1 On-premise

9.2 Cloud

 

10. In-Store Analytics Market Segmentation, by Organization Size

10.1 Large Enterprises

10.2 Small & Medium Enterprises

 

11. In-Store Analytics Market Segmentation, by Application          

11.1 Customer Management

11.2 Marketing Management

11.3 Merchandising Analysis

11.4 Store Operations Management

11.5 Risk and Compliance Management

11.6 Others

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

 

13. Company Profiles

13.1 SAP SE

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 Celect Inc.

13.3 Capillary Technologies

13.4 Inpixon

13.5 Scanalytics Inc.

13.6 Dor Technologies Inc.

13.7 SEMSEYE

13.8 RETAILNEXT, INC.

13.9 Mindtree Ltd

13.10 Happiest Minds

 

14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share Analysis

14.3 Recent Developments

 

15. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of a good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach a stage wherein we can provide our clients best and most accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining listed companies’ annual reports, Journals, SEC filling, etc. Apart from this, our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various universities as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content-specific facts that can be sued to solve specific problems. Since the collected data is fresh and first-hand therefore it makes the study more accurate and genuine.

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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses, and observation of on-field participants. The below-mentioned chart should give a better understanding of part 1 of the primary interview.

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