Retail Cloud Market

Global Retail Cloud Market Size (2024 to 2032)

The global retail cloud market was worth USD 34.49 billion in 2023. The global market is predicted to reach USD 41.70 billion in 2024 and USD 190.35 billion by 2032, growing at a CAGR of 20.9% during the forecast period.

MARKET DRIVERS

One of the major driving factors of the global Retail Cloud market is the rapid adoption of smartphones and the increasing need for compliance and collaboration within the worldwide industry.

In addition, the shift to a channel experience is another major driving factor for the Retail Cloud equipment market in terms of revenue rate in the next few years. Growing concerns regarding security and privacy are one of the major restraints affecting the growth of the global Retail Cloud market. Another major restraint is the frequently changing consumer preferences and the reluctance of retailers to adopt cloud services. Another major growth hindering factor of the Retail Cloud industry is the threats posed by privacy issues and data leakage.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Retail Cloud Market Analysis By Type

The Retail Cloud market is segmented into two types, namely solutions and services. Among these, the solution segment holds the major share of the market as these are gaining huge adoption due to scalability, flexibility, and cost efficiency delivered through the cloud.

Global Retail Cloud Market Analysis By Service Model

The retail cloud market is divided into software as a service, platform as a service, and infrastructure as a service. Infrastructure as a service segment holds the major share of the market, especially in terms of speed and agility, and is expected to dominate during the outlook period.

Global Retail Cloud Market Analysis By Organization Size

The Retail Cloud market is bifurcated into small and medium-sized enterprises and large enterprises. Among these, the small and medium-sized enterprises segment holds the dominant share of the market.

Global Retail Cloud Market Analysis By Deployment Model

The Retail Cloud market is separated into public cloud, private cloud, and hybrid cloud. Among these, the private cloud segment accounted for the major share of the market.

REGIONAL ANALYSIS

North America holds the major share of the retail cloud market owing to the significant growth in retail trade accounting, especially in some countries such as the United States and Canada. The region is also estimated to record a significant share in the coming years.

The Asia Pacific region holds the second-largest share of the Retail Cloud market owing to the increasing need for compliance and collaboration in nations like India, China, Japan, etc. However, stringent government regulations hamper the growth of the market in the Asia Pacific region.

The European region is expected to record an increase in market growth during the foreseen period due to the increase in investments by the major players across the nations in this locale.

KEY PARTICIPANTS IN THE GLOBAL RETAIL CLOUD MARKET

The major companies operating in the global Retail Cloud market include Infor, Inc. (New York, U.S.), Epicor Software Corporation (Texas, U.S.), International Business Machines Corporation (New York, U.S.), Microsoft Corporation (Washington, U.S.), Oracle Corporation (California, U.S.), Cisco Systems, Inc. (California, U.S.), SAP SE (Wurttemberg, Germany), Computer Sciences Corporation (Virginia, U.S.), Fujitsu Limited (Tokyo, Japan), JDA Software Group, Inc. (Arizona, U.S.), and Syntel Inc. (Michigan, U.S.).

RECENT HAPPENINGS IN THE GLOBAL RETAIL CLOUD MARKET

• In June 2020, Microsoft Corporation announced a strategic change in its retail operations, which includes closing Microsoft store physical locations. However, the company’s retail team members will continue to serve customers from Microsoft corporate facilities and provide sales, training, and support remotely.

• In June 2020, Wipro collaborated with IBM to offer cloud solutions to help businesses migrate, manage, and transform their mission-critical operations across public, private, and on-premise cloud infrastructure.

DETAILED SEGMENTATION OF THE GLOBAL RETAIL CLOUD MARKET INCLUDED IN THIS REPORT

This research report on the global retail cloud market is segmented and sub-segmented based on type, service model, organization size, deployment model, and region.

By Type

• Solution
• Service

By Service Model

• Software As a Service
• Platform As a Service
• Infrastructure As a Service

By Organization Size

• Small and Medium-Sized Enterprises
• Large Enterprises

By Deployment Model

• Public Cloud
• Private Cloud
• Hybrid Cloud

By Region

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus