Asia Pacific Retail Analytics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

APAC Retail Analytics Market is Segmented By Mode of Deployment (On-Premise, On-Demand), By Type (Solutions, Services), By Module Type (Strategy and Planning, Marketing, Financial Management, Store Operations, Merchandising, Supply Chain Management), By Business Type (Small & Medium Enterprises, Large-scale organizations), and Country (China, Japan, India, South Korea). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

APAC Retail Analytics Market Size

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Asia Pacific Retail Analytics Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 9.28 Billion
Market Size (2029) USD 18.21 Billion
CAGR (2024 - 2029) 14.43 %
Market Concentration Medium

Major Players

Asia Pacific Retail Analytics Market Major Players

*Disclaimer: Major Players sorted in no particular order

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APAC Retail Analytics Market Analysis

The Asia Pacific Retail Analytics Market size is estimated at USD 9.28 billion in 2024, and is expected to reach USD 18.21 billion by 2029, growing at a CAGR of 14.43% during the forecast period (2024-2029).

  • The market is expanding quickly due to retailers using the Internet of Things more frequently and adopting analytics tools faster.
  • Retail analytics provides analytical data on inventory levels, supply chain movement, consumer demand, sales, etc., essential for marketing and procurement decisions. Retail analytics is the analysis of data generated by retail operations to make business decisions that drive profitability. Data analytics on supply and demand can be applied to maintain procurement levels and make marketing decisions.
  • This includes offering insights to comprehend and improve the retail business's operational procedures, sales trends, consumer behavior, and overall performance. Because of consumers' high standards for retail today, companies must satisfy these growing demands with tailored omnichannel offers, practical procedures, and prompt adjustments to emerging trends. All of these activities require retail analytics. The market is expected to expand as more retail establishments open in countries such as China, Japan, India, and other developing nations.
  • For instance, Reliance Retail announced in February 2023 that it planned to open multiple Gap stores next year with an eye toward the country's mid-premium apparel market. Reliance Retail acquired the rights to sell American casual wear brand Gap in India last year. The retailer plans to open 50 new locations overall in the upcoming year. The opening of such stores will increase demand for retail analytical solutions.
  • Analytics can help retailers make better marketing decisions, improve business processes, and provide better overall customer experiences by identifying areas for improvement and optimization. The demand for analytical solutions in the sector is anticipated to increase with the rapid expansion of the retail industry across all countries. For instance, retail sales in Japan rose by 6.6% YoY in February 2023, exceeding market expectations of 5.8% and accelerating from a revised 5% growth in January. Retail trade increased for the 12th month, running the fastest since May 2021.
  • Additionally, the retail sector's growing adoption of Industry 4.0 has significantly aided the market's expansion. The market for retail analytics is expanding due to the rising popularity of smartphones and e-commerce. During the forecast period, it is also anticipated that increasing income levels, government spending on big data and analytics, and demand for automated retail-based services will stimulate the regional retail analytics market.
  • Retail analytics market growth is significantly constrained by the high capital expenditures required for installation, maintenance, testing, licensing, and other technical labor costs associated with retail analytics tools. Another factor impacting the market is the unorganized retail sectors' limited access to technology and tight budgets.
  • As most companies started remote operations to avoid exposing their employees to COVID-19, retail sales dropped, indicating a blockage of sales information to retailers' data repositories. Since the objectives of a specific automated system or predictive model remained the same, the input data and the users' issues led the companies (vendors) to re-evaluate how outputs could now be interpreted and relied upon.

APAC Retail Analytics Market Trends

Solutions Segment is Anticipated to Hold Major Market Share

  • The retail industry is becoming more competitive, so optimizing business processes and satisfying customer expectations is crucial. Every step includes the implementation of data analytical solutions. Customer heat mapping can also be used to optimize offers and product placement. Additionally, the retail industry's growing use of cloud services will soon open up opportunities in the Asia Pacific retail analytics market.
  • Moreover, data management solutions are anticipated to dominate the region's retail analytic sector. One of the ways data is used in retail most frequently is for personalized marketing. If retailers focused more on the management side of data, their efforts could be significantly improved. For instance, adding data from third-party sources to their first-party information can help them target customers more precisely.
  • Furthermore, the importance of data management solutions has grown within the retail and e-commerce sectors. Businesses can use data to enhance operations and provide better customer service as a result of the development of technology and the abundance of information now at their disposal. Better data management increases visibility across retail processes by compiling and structuring otherwise enormous, unmanageable data sets.
  • One of the factors propelling the Asia-Pacific retail analytic industry is data analytical solutions. Data analytics has emerged as a game-changing technology in the retail sector that gives retailers strong tools to streamline their processes, enhance customer experiences, and boost sales. Retailers can use data analytics to create individualized recommendations, offers, and promotions by analyzing customer data such as purchase history, browsing behavior, and social media interactions.
  • The retail sector in Asia-Pacific is constantly changing, and data analytics significantly impacts how retail will develop in the future. Moreover, the growth in retail sales coupled with increasing digitization in the retail sector is driving the adoption of retail analytics solutions among retail businesses in the emerging countries in Asia Pacific. For instance, according to the data from the Retailers Association of India (RAI), Pan India sales growth in the retail industry from February 2021 to February 2022 was 10%. Similarly, the sales growth in North India and Western India was 17% and 16% from February 2021 to February 2022.
Asia Pacific Retail Analytics Market : Sales Growth of Retail Industry in India, by Region, in Percentage,  February 2021- February 2022

Japan is Expected to Witness Significant Traction in APAC Retail Analytics Market

  • The retail analytics market in Japan is analyzed to witness substantial growth in the coming years owing to the growth in retail sales and technological advancements in the retail sector coupled with the growing demand for data analytics in retail businesses. Moreover, the growing digital transformation in the country's retail sector is further offering substantial growth opportunities for the adoption of retail analytics solutions in the coming years.
  • Additionally, retail analytics can significantly enhance marketing strategies. It can assist in customer targeting by identifying the ideal customer using information gathered on the location, age, preferences, buying patterns, and other significant factors of current and previous customers. Better data management will unlock data's full potential, improving retail operations on many fronts and enhancing the functionality of retailers' e-commerce sites. Thus propelling the demand for retail analytics solutions in Japan over the forecast period.
  • Furthermore, it is anticipated that in the future, solutions like real-time analytics, artificial intelligence, and machine learning will become even more significant. These can aid retailers in increasing sales, streamlining their marketing plans, and giving customers a seamless experience. These solutions are anticipated to be used more frequently in retail businesses as part of data analytics solutions.
  • Moreover, the demand is expected to grow at a rapid pace as more retail businesses and organizations, such as convenience stores, supermarkets, etc., adopt retail analytics solutions owing to growth in retail sales in the Japanese retail industry. For instance, according to the data from METI (Japan), the sales value of the retail industry in Japan exceeded JPY 150 trillion (USD 103.5 Trillion), out of which supermarkets accounted for the largest share of JPY 15.15 trillion (USD 10.45 trillion) as a standalone store type. Convenience stores followed as the second strongest retail type, with the sales of goods and services generating JPY 12.2 trillion (USD 8.41 trillion).
Asia Pacific Retail Analytics Market : Retail sales, by Store Type, in JPY Trillion, 2022

APAC Retail Analytics Industry Overview

The Asia Pacific Retail Automation Market exhibits partial fragmentation, with several major players dominating the industry. Key participants in this market include Oracle, IBM, SAP SE, Zoho, and Adobe Systems Incorporated, among others. These companies are continuously fortifying their market presence through various strategic initiatives, including acquisitions, product launches, and partnerships, which significantly contribute to the market's growth. Here are some recent developments within this sector:

In November 2022, Qlik introduced a transformative product known as "Qlik Cloud Data Integration." This Enterprise Integration Platform as a Service (eiPaaS) offering is designed to empower enterprise data strategies. It achieves this by creating a real-time data integration fabric connecting all enterprise applications and data sources to the cloud. By harnessing the capabilities of the cloud and establishing real-time data connections between diverse data sources, targets, and destinations, Qlik Cloud Data Integration enables all members of the enterprise to make data-driven decisions with confidence.

In March 2022, Informatica, a renowned enterprise data management vendor, unveiled the first retail-specific version of its "Intelligent Data Management Cloud" (IDMC). This specialized platform, known as "Intelligent Data Management Cloud for Retail," leverages Informatica's suite of machine learning-powered tools to assist retailers in cataloging, ingesting, integrating, and preparing data for use in analytical and AI applications. This tailored solution caters to the unique data management needs of the retail sector, further enhancing its capabilities.

APAC Retail Analytics Market Leaders

  1. Oracle Corporation

  2. IBM Corporation

  3. SAP SE

  4. Retail Next, Inc.

  5. Qlik Technologies, Inc.

*Disclaimer: Major Players sorted in no particular order

Asia Pacific Retail Analytics Market Concentration
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APAC Retail Analytics Market News

  • August 2022: Maxis invested in ComeBy, a Malaysia-based retail analytics startup, to bolster innovation and digitalization within the retail industry. ComeBy offers brick-and-mortar retailers valuable insights into individual shopper preferences before reaching the checkout counter. The company asserts that its approach, which combines both active and passive tracking, enhances customer engagement and optimizes in-store sales, as well as remarketing and merchandising efforts.
  • June 2022: Amazon introduced a groundbreaking analytics tool that empowers consumer packaged goods (CPG) companies to monitor consumer interest in their products within Amazon Go and Amazon Fresh stores, known for their frictionless checkout technology. The new service, named Store Analytics, provides suppliers with "aggregated and anonymous insights" regarding customer interactions with their products, utilizing data collected by Amazon's innovative Walk Out and Dash Cart systems.

APAC Retail Analytics Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness Porter's Five Forces Analysis

      1. 4.2.1 Bargaining power of Buyers

      2. 4.2.2 Bargaining power of Suppliers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Bargaining power of Buyers

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Assessment of COVID-19 impact on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Increased Emphasis on Predictive Analysis

      2. 5.1.2 Sustained increase in volume of data

      3. 5.1.3 Growing demand for sales forecasting

    2. 5.2 Market Restraints

      1. 5.2.1 Lack of general awareness and expertise in emerging regions

      2. 5.2.2 Standardization and Integration issues

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Mode of Deployment

      1. 6.1.1 On-Premise

      2. 6.1.2 On-Demand

    2. 6.2 By Type

      1. 6.2.1 Solutions (Analytics, Visualization Tools, Data Management, etc.)

      2. 6.2.2 Services (Integration, Support & Consulting)

    3. 6.3 By Module Type

      1. 6.3.1 Strategy & Planning (Macro Trends, KPI, Value Analysis)

      2. 6.3.2 Marketing (Pricing, Loyalty and Segment Analysis)

      3. 6.3.3 Financial Management (Accounts Management)

      4. 6.3.4 Store Operations (Fraud Detection, Workforce Analytics)

      5. 6.3.5 Merchandising (Assortment Optimization, Shopper Path Analytics)

      6. 6.3.6 Supply Chain Management (Inventory, Vendor and Supply-Demand Modelling)

      7. 6.3.7 Other Module Types

    4. 6.4 By Business Type

      1. 6.4.1 Small and Medium Enterprises

      2. 6.4.2 Large-scale Organizations

    5. 6.5 Geography

      1. 6.5.1 China

      2. 6.5.2 India

      3. 6.5.3 Japan

      4. 6.5.4 South Korea

      5. 6.5.5 Rest of Asia Pacific

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 SAP SE

      2. 7.1.2 Oracle Corporation

      3. 7.1.3 Qlik Technologies, Inc.

      4. 7.1.4 Zoho Corporation

      5. 7.1.5 IBM Corporation

      6. 7.1.6 Retail Next, Inc.

      7. 7.1.7 Alteryx, Inc.

      8. 7.1.8 Tableau Software, Inc.

      9. 7.1.9 Adobe Systems Incorporated

      10. 7.1.10 Microstrategy, Inc.

      11. 7.1.11 Prevedere Software, Inc.

      12. 7.1.12 Targit

      13. 7.1.13 Pentaho Corporation

      14. 7.1.14 ZAP Business Intelligence

      15. 7.1.15 Fuzzy Logix

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. MARKET OPPORTUNITIES AND FUTURE TRENDS

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APAC Retail Analytics Industry Segmentation

Retail analytics provides analytics tools in the retail industry on business trends, patterns, and performance. Retail business analytics enable retailers to leverage data-driven insights from their businesses and customers to improve the consumer experience, increase sales, and optimize business operations.

The Asia Pacific retail analytics market is segmented by mode of deployment (on-premise and on-demand), by type (solutions and services), by module type (strategy and planning, marketing, financial management, store operations, merchandising, supply chain management), by business type (small & medium enterprises, large-scale organizations, and other module types), and geography (China, Japan, India, South Korea, and the Rest of Asia Pacific). 

The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Mode of Deployment
On-Premise
On-Demand
By Type
Solutions (Analytics, Visualization Tools, Data Management, etc.)
Services (Integration, Support & Consulting)
By Module Type
Strategy & Planning (Macro Trends, KPI, Value Analysis)
Marketing (Pricing, Loyalty and Segment Analysis)
Financial Management (Accounts Management)
Store Operations (Fraud Detection, Workforce Analytics)
Merchandising (Assortment Optimization, Shopper Path Analytics)
Supply Chain Management (Inventory, Vendor and Supply-Demand Modelling)
Other Module Types
By Business Type
Small and Medium Enterprises
Large-scale Organizations
Geography
China
India
Japan
South Korea
Rest of Asia Pacific
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APAC Retail Analytics Market Research FAQs

The Asia Pacific Retail Analytics Market size is expected to reach USD 9.28 billion in 2024 and grow at a CAGR of 14.43% to reach USD 18.21 billion by 2029.

In 2024, the Asia Pacific Retail Analytics Market size is expected to reach USD 9.28 billion.

Oracle Corporation, IBM Corporation, SAP SE, Retail Next, Inc. and Qlik Technologies, Inc. are the major companies operating in the Asia Pacific Retail Analytics Market.

In 2023, the Asia Pacific Retail Analytics Market size was estimated at USD 8.11 billion. The report covers the Asia Pacific Retail Analytics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia Pacific Retail Analytics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

APAC Retail Analytics Industry Report

Statistics for the 2024 APAC Retail Analytics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Retail Analytics analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Asia Pacific Retail Analytics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)