The Predictive Retail Analytics Market is Predict to reach USD 17 billion by 2031, at a CAGR of 33.2%

Predictive Retail Analytics Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Predictive Retail Analytics Market size is expected to reach $17 billion by 2031, rising at a market growth of 33.2% CAGR during the forecast period.

The Customer Management segment is anticipating a CAGR of 32.8% during (2024 - 2031). Predictive analytics in this area helps retailers understand customer behavior, preferences, and purchase patterns, enabling them to deliver personalized shopping experiences. Retailers use these insights to improve customer segmentation, develop targeted marketing campaigns, and enhance loyalty programs. By understanding customer needs more deeply, businesses can increase engagement and retention, driving long-term growth.

The Large Enterprises segment is leading the Global Predictive Retail Analytics Market by Enterprise Size in 2023; thereby, achieving a market value of $10.3 billion by 2031. This dominance is driven by the substantial resources and advanced IT infrastructure available to large retailers, enabling them to invest in sophisticated predictive analytics solutions. Large enterprises often have complex data needs, including vast customer databases and extensive supply chains, which require advanced analytics capabilities to optimize operations, personalize customer experiences, and maintain a competitive edge.

The Services segment is registering a CAGR of 34.7% during (2024 - 2031). This segment includes consulting, implementation, training, and maintenance services that support the deployment and ongoing management of predictive analytics solutions. Many retailers rely on these services to tailor analytics tools to their needs and ensure seamless integration with existing systems. The demand for professional expertise in setting up and optimizing analytics tools has driven growth in this segment as retailers look to maximize the value derived from their predictive analytics investments.

The Cloud-based segment is generating the maximum revenue the Global Predictive Retail Analytics Market by Deployment Type in 202; thereby, achieving a market value of $10.5 billion by 2031. The retail industry's growing need for scalability, flexibility, and cost-efficiency drives the cloud-based deployment segment. Retailers increasingly opt for cloud-based predictive analytics solutions, allowing for rapid deployment without significant upfront investment in hardware. These solutions enable easy access to advanced analytics tools, supporting real-time data analysis and decision-making. Additionally, cloud models facilitate remote access, making them ideal for businesses with distributed operations or those transitioning to hybrid work models.

The Sales & Marketing segment is registering a CAGR of 32.9% during (2024 - 2031). Retailers increasingly use predictive analytics to better understand customer preferences, personalize marketing campaigns, and optimize pricing strategies. These tools enable businesses to identify key market trends, target the right customer segments, and tailor promotions that drive sales and customer engagement. The ability to harness data for crafting effective sales strategies and improving customer acquisition and retention makes this segment an essential contributor to the overall predictive retail analytics market.

Full Report: https://www.kbvresearch.com/predictive-retail-analytics-market/

The North America region dominated the Global Predictive Retail Analytics Market by Region in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $6.1 billion by 2031. The Europe region is experiencing a CAGR of 32.7% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 34.2% during (2024 - 2031).

List of Key Companies Profiled

• IBM Corporation
• Oracle Corporation
• SAP SE
• Microsoft Corporation
• SAS Institute Inc.
• NTT Data Corporation
• TIBCO Software, Inc. (Vista Equity Partners Management, LLC)
• Salesforce, Inc.
• Alteryx, Inc.
• Fair Isaac Corporation (FICO)

Predictive Retail Analytics Market Report Segmentation

By Application

• Inventory Analysis
• Customer Management
• Pricing Analysis
• Performance Analysis
• Merchandising Analysis
• Other Application

By Enterprise Size

• Large Enterprises
• SMEs

By Component

• Software
• Services
  • Consulting Services
  • Deployment & Integration Services
  • Support & Maintenance Services
  • Training & Education Services

By Deployment Type

• Cloud-based
• On-Premise
• Hybrid

By Business Function

• Supply Chain Management
• Sales & Marketing
• Strategy & Planning
• In-store Operations
• Human Resource
• Other Business Function

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Predictive Retail Analytics Market Size | 2031

• November-2024
• 156 Pages

LAMEA Predictive Retail Analytics Market Size, Share | 2031

• November-2024
• 174 Pages

Europe Predictive Retail Analytics Market Size, Trend | 2031

• November-2024
• 174 Pages

Asia Pacific Predictive Retail Analytics Market Size | 2031

• November-2024
• 176 Pages