IT Spending in Retail Industry Market - Snapshot
IT spending in the retail industry refers to the investments retailers make in IT and IT solutions in order to run their businesses. Increasing competition across the retail sector is putting pressure among retailers to differentiate their offerings. Increasing investment in developing and implementing technologies to better respond to customers who demand new experiences across several sales channels is a growing trend. Online e-commerce and mobile shopping have increased due to rising internet penetration across regions. Physical stores are increasingly focused on providing new engaging customer experiences, rather than just for purchases. The development of personalized and tailored offerings for each individual customer helps to attract new customers and increase loyalty.
Significant growth in smartphone-enabled purchases is the result of several retail market trends such as rise of mobile checkout capabilities within a retailers’ application, rising popularity of mobile wallets, and options to buy online and pick up in-store. According to TMR’s analysis, the total number of active smartphone users globally in 2017 was around 4,000 million and is expected to further grow to about 6,500 million by 2022. Retailers are investing in the development of mobile marketing strategies and developing a consistent omni-channel experience for end-users.
IT spending in retail industry market has been categorized based on component, organization size, deployment type, and region. Based on component, the market can be segmented into application, services, and infrastructure software. The application segment can be further classified into front-end, back-end, and others. The services segment can be further categorized into integration and managed services. The infrastructure software segment can be divided into cyber security, network software, and IoT enablement. The market based on organization size can be divided into small & mid-size organizations and large enterprises. Based on deployment type, the market can be categorized into e-commerce, hypermarkets/supermarkets, specialty stores, departmental stores, and others.
In terms of region, North America is projected to account for a dominant share of the IT spending in retail industry market due to the presence of prominent retail chains across the region. The market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period. This is primarily due to early adoption of emerging technologies such as AR/VR across large retailers.
Some of the key players profiled in the IT spending in retail industry market include Oracle Corporation, Informatica LLC, Microsoft Corporation, SAP SE, VMware, Inc, MicroStrategy Incorporated, MagstarInc, JDA Software Group, Inc., International Business Machines Corporation, Cisco Systems, Inc.LS Retail ehf, Salesforce.com, Inc.Hewlett Packard Enterprise Company, and Epicor Software Corporation.
IT Spending in Retail Industry Market: Overview
The IT spending in retail industry market report provides analysis for the period 2016–2026, wherein 2018 to 2026 is the forecast period and 2017 is the base year. The report covers all the major trends and technologies playing an influential role in the market’s growth over the forecast period. It also highlights the market dynamics, which comprise drivers, restraints, and opportunities,for the analysis of market growth during the said period. The study provides a complete perspective on the evolution of the global IT spending in retail industry market throughout the above mentioned forecast period in terms of revenue (US$ Bn).
The market overview section of the report demonstrates market dynamics such as drivers, restraints, and opportunities that influence the current nature and future status of this market and key indicators, integration challenges, deployment type, adoption analysis, and trends of the market. Further, key market indicators included in the report provide significance of the factors that are capable of changing the market scenario. These indicators are expected to define the market position during the forecast period and provide an overview of the global IT spending in retail industry market. In addition, market attractiveness analysis has been provided for every segment in the report in order to provide a thorough understanding of the overall scenario in the market. The report also provides an overview of various strategies adopted by key players present in the market.
Global IT Spending in Retail Industry Market: Scope of the Report
The report segments the market on the basis of component into Application (Front-end, Back-end, and Others), Services (Integration Services, Managed Services), and Infrastructure Software (Cyber Security, Network Application, IOT Enablement). Based on organization size, the market is segmented into large enterprises, and small & medium organization. In terms of deployment type, the market is classified into e-commerce, hyper/supermarket, specialty stores, departmental stores, and others. The report provides in-depth segment analysis of the global IT spending in retail industry market, thereby providing valuable insights at the macro as well as micro levels.
The report also highlights the competitive landscape of the global IT spending in retail industry market, positioning all the major players according to their presence in different regions of the world and recent key developments initiated by them in the market. The comprehensive market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, and technological factors along with the current market dynamics affecting the IT spending in retail industry market growth.
This report provides all the essential information required to understand the key developments in the IT spending in retail industry market and growth trends of each segment and region. It also includescompany overviews, strategies, financial information, and developmentsunder the company profile section. The report provides insights related to trends and their impact on the market. Furthermore, Porter’s Five Forces analysis explains the five forces, namely buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in the IT spending in retail industry market. The report also provides a comprehensive ecosystem analysis of the market. It explains the various participants, including software & platform vendors, system integrators, intermediaries, and end-users within the ecosystem of the market.
Global IT Spending in Retail Industry Market: Research Methodology
The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary research sources such as annual reports, company websites, broker reports, financial reports, SEC filings and investor presentations, national government documents, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, statistical databases, World Bank database, and industry white papers are referred.
Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews on the IT spending in retail industry market,across geographies. Primary interviews are usually conducted on an ongoing basis with industry expertsand participants in order to get latest market insights and validate the existing data and analysis. Primary interviews offer firsthand information on important factors such as market trends, market size, competitive landscape,growth trends, outlook etc. These factors help to validate and strengthen secondary research findings and also help to develop the analysis team’s expertise and market understanding. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by our expert panel.
Global IT Spending in Retail Industry Market: Competitive Dynamics
The research study includes profiles of leading companies operating in the global IT spending in retail industry market. Key players profiled in the market include Oracle Corporation, Informatica LLC, Microsoft Corporation, SAP SE, VMware, Inc, MicroStrategy Incorporated, MagstarInc, JDA Software Group, Inc., International Business Machines Corporation, Cisco Systems, Inc.LS Retail ehf, Salesforce.com, Inc.Hewlett Packard Enterprise Company, and Epicor Software Corporation.
The global IT spending in retail industry market is segmented as below:
Global IT Spending in Retail Industry Market, by Component
- Marketing and Advertising Solutions
- Marketing automation software
- Loyalty program
- Virtual & Augmented Reality
- E-commerce Platform
- POS System
- Retail Analytics
- Content management system
- Order management system
- Inventory management system
- Managed Services
- Infrastructure Software
- Cyber Security
- Network Software
- IOT Enablement
Global IT Spending in Retail Industry Market, by Organization Size
- Large Enterprises
- Small & Mid-Size Organization
Global IT Spending in Retail Industry Market, by Deployment Model
- Specialty Stores
- Departmental Stores
Global IT Spending in Retail Industry Market, by Geography
- North America
- The U.S.
- Rest of North America
- The U.K
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America