The Worldwide Retail Cloud Market is Projected to reach USD 133 Billion by 2029, at a CAGR of 19.2%

Retail Cloud Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Retail Cloud Market size is expected to reach $133 billion by 2029, rising at a market growth of 19.2% CAGR during the forecast period.

The SMEs segment is showcasing a CAGR of 21.7% during (2023 - 2029). The surge might be attributed to the growth of SMEs in emerging economies like China and India. The market is also anticipated to expand due to SMEs' growing demand for cloud computing services to simplify workflow and reduce operational costs. With cloud computing, SMEs can save expenses, cease repeated operations, establish priorities, and enhance teamwork.

The Software as a Service segment is leading the Global Retail Cloud Market by Service Model in 2022 thereby, achieving a market value of $64.5 billion by 2029. As a tool to manage crucial tasks like point of sale (POS), inventory management, and customer relationship management (CRM), SaaS has grown in popularity in the retail sector. Retailers can benefit from cloud computing's decreased costs, scalability, and availability from any location with an internet connection by utilizing SaaS solutions. SaaS is frequently used in retail for POS systems.

The Services segment has shown the growth rate of 21.2% during (2023 - 2029). In order to help retailers, manage their cloud-based solutions, cloud infrastructure providers provide them with "retail cloud services." Cloud storage, database administration, security services, application hosting, and other services may be included in these. Retailers can use these services to guarantee that their cloud-based solutions are safe, expandable, and constantly accessible to their clients.

The Public Cloud segment is generating the highest revenue share in the Global Retail Cloud Market by Deployment Model in 2022 thereby, achieving a market value of $61.6 billion by 2029. This is because platform solutions for data analytics and the Internet of Things (IoT) are more readily available. Since all hardware, software, and other supporting infrastructure is controlled and maintained by a third-party cloud service provider over the Internet, public clouds are the most popular type of cloud computing deployment and minimize maintenance costs.

The North America market dominated the Global Retail Cloud Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $45.5 billion by 2029. The Europe market is exhibiting a CAGR of 18.5% during (2023 - 2029). Additionally, The Asia Pacific market would showcase a CAGR of 20.2% during (2023 - 2029).

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

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Alibaba Cloud (Alibaba Group Holding Limited), Cisco Systems, Inc., Salesforce, Inc., SAP SE, IBM Corporation, Oracle Corporation, Accenture PLC, Amazon Web Services, Inc (Amazon.com, Inc.), Microsoft Corporation and Google LLC (Alphabet Inc.)

Global Retail Cloud Market Segmentation

By Organization Size

• Large Enterprises
• SMEs

By Service Model

• Software as a Service
• Platform as a Service
• Infrastructure as a Service

By Component

• Solution
  • Supply Chain Management
  • Customer Management
  • Workforce Management
  • Merchandising
  • Reporting & Analytics
  • Data Security
  • Omni-channel
  • Others
• Services

By Deployment Model

• Public Cloud
• Private Cloud
• Hybrid Cloud

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

Companies Profiled

• Alibaba Cloud (Alibaba Group Holding Limited)
• Cisco Systems, Inc.
• Salesforce, Inc.
• SAP SE
• IBM Corporation
• Oracle Corporation
• Accenture PLC
• Amazon Web Services, Inc (Amazon.com, Inc.)
• Microsoft Corporation
• Google LLC (Alphabet Inc.)

Related Reports:

North America Retail Cloud Market Size & Analysis to 2029

• May-2023
• 129 Pages

LAMEA Retail Cloud Market Size, Growth & Trends by 2023-2029

• May-2023
• 148 Pages

Europe Retail Cloud Market Size & Growth Forecast by 2029

• May-2023
• 147 Pages

Asia Pacific Retail Cloud Market Size & Forecast by 2023-2029

• May-2023
• 150 Pages