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The retail operations software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Retail Operations Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The retail operations software market size has grown strongly in recent years. It will grow from $1.22 billion in 2023 to $1.30 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to demand for efficiency and automation, rise of omni-channel retailing, focus on customer experience, scalability and flexibility, and competitive differentiation.
The retail operations software market size is expected to see strong growth in the next few years. It will grow to $1.68 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to growth of multi-channel retailing, focus on customer relationship management, compliance with regulatory standards, and efficiency and cost reduction. Major trends in the forecast period include mobile-first solutions, adoption of AI and ML, cloud-based solutions, and sustainability and ethical sourcing.
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Scope Of Retail Operations Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Retail Operations Software Market Overview
Market Drivers –
An increasing number of retail stores is expected to propel the growth of the retail operations software market going forward. Retail stores refer to physical establishments where goods or services are sold directly to consumers for personal use or consumption. Retail store numbers are rising due to economic expansion and various technological innovations, including e-commerce integration. Retail operations software is primarily used to streamline store processes, from inventory management to customer relationship management, improving efficiency and enhancing the customer experience in the retail sector. For instance, in January 2024, according to the National Association of Convenience Stores, a US-based trade association, the number of convenience stores operating in the United States at the beginning of 2024 reached 152,396, reflecting a 1.5% increase compared to the count in 2023. Therefore, the increasing number of retail stores is driving the growth of the retail operations software market.
Market Trends –
Major companies operating in the retail operations software market incorporate AI-driven supply chain optimization solutions, such as AI-powered POS (point of sale) software, to enhance various aspects of retail operations. AI-powered POS software is a type of retail management system that leverages artificial intelligence and machine learning technologies to enhance various aspects of the point-of-sale process. For instance, in July 2023, Urban Vyapari, an India-based provider of cloud-based solutions, launched AI-powered POS software to revolutionize the retail and restaurant industries by providing cutting-edge POS solutions and digital transformation tools for dynamic businesses. The AI-powered POS system helps eliminate losses by accurately tracking inventory and orders based on sales and up-to-date supply levels. It also offers consumers the ability to handle virtually all payment methods across online platforms, mobile apps, via chat, social apps, and in-store payments.
The retail operations software market covered in this report is segmented –
1) By Type: Cloud Based, Web Based
2) By Pricing Model: Subscription, One-Time License
3) By Application: Large Enterprises, Small And Medium-Sized Enterprises
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Regional Insights –
North America was the largest region in the retail operations software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail operations software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the retail operations software market report are <b>Microsoft Corporation; International Business Machines Corporation; Oracle Corporation; SAP SA; Salesforce.com Inc.; Adobe Inc.; Square Inc.; Intuit Inc.; NCR Corporation; Shopify Inc.; NetSuite Inc.; Zoho Corporation; Epicor Software Corporation; Blue Yonder; Cegid Group; Lightspeed POS Inc.; Aptos Inc.; ACCEO Solutions Inc.; Kibo Commerce; LS Retail ehf; Revel Systems; ECR Software Corporation; Celerant Technology Corporation; Retail Pro International LLC; RetailOps </b>
Table of Contents
1. Executive Summary
2. Retail Operations Software Market Report Structure
3. Retail Operations Software Market Trends And Strategies
4. Retail Operations Software Market – Macro Economic Scenario
5. Retail Operations Software Market Size And Growth
…..
27. Retail Operations Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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