Asia-Pacific Retail Analytics Market - By Deployment Model, Vendors and Country - Forecasts and Trends (2015 - 2020)
This region is home to more than half of the human beings in the world. The region has a steady economic growth. The GDP growth for 2014-2015 is forecasted to be more than 5% which is helped by growth in economies, robust credit growth and good labor markets. These factors have influenced major retailers from around the world to open stores in various countries in this region. There are mature markets like Japan and Australia and also markets like China, India, Singapore, Indonesia and Vietnam which are growing at a rapid pace.
Internet penetration in Asian markets has boosted the e-commerce market in this region. There are more than a billion people in APAC region who use the internet. These internet users come from both the smartphone users and the computer users. Smartphone has revolutionized the e-commerce retail market by having customers to just place orders from their phone. Global companies like EBay and Amazon have invested heavily in the APAC market because of its huge sales and revenues. Domestic Companies like Flipkart, Alibaba, Baidu and Rakuten etc. have an established market in their countries and are expanding heavily. Lot of data is generated from theses E-Commerce websites which is analyzed and get valuable information about the needs of the customers. It also helps the sites to change their sites according to the usage of the customers and will help generate more revenue. This data can be used to industrialize the analytics discipline on an enterprise-wide scale.
Asia Pacific is expected to be the region with the highest growth owing to the increasing penetration of e-commerce and Social media. With internet becoming accessible to more and more people each day, the shopping habits of these very people are changing rapidly. Online shopping has become a necessity more than a habit now, and the data from the same has become of utmost importance in identifying the buying behavior and the interests of the consumers.
With continuous developments in Big Data analytics, this data can now be used to generate meaningful insights that can help in the generation of revenue and capturing untapped potential in the market. This data can now be used to industrialize the analytics discipline on an enterprise-wide scale. Apart from capturing new markets, Retail Analytics also enables firms to manage fraud and secure their operations by giving insights about various sources of shrink like Organized Retail Crime and Supplier Fraud. This helps them in optimizing their business procedures by incorporating this analytical data in their strategy and planning.
Retail analytics enables personalized services customized to the needs of individual customers; this is particularly useful in sectors like Banking, where banks can use this customer information and business intelligence to deliver solutions based on each account holder's individual financial needs.
Retail Analytics will help the companies in predicting the demand for a product in the future. This will help the company in keep their controlling their inventory before the peak demand for the product.
The Retail Analytics Market faces few issue due to the lack of skilled personnel, who are not efficient enough to derive the required insights from the retail data.
The report analyses the market on the basis of applications segregated by the end user industries like Supply Chain management, Marketing and Customer analytics, Personalized Services, Merchandising and Strategic Decision making. Detailed market shares and its forecast over the next five years are estimated.
Major companies in the market like Vitria, GE, Splunk, Angoss Software, Experian, and others are studied and their current market strategies are analyzed. Recent developments in this market and their impact on the market are also analyzed.
WHAT THE REPORT OFFERS
1.Asia-Pacific Retail Analytics Market Overview with information on drivers and restraints
2.Retail Analytics Market Analysis and its applications in the industry
3.Identification of factors responsible for changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on global and regional scale
4.Extensively researched competitive landscape with profiles of major companies along with their market shares
5. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
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