Retail - Enterprise ICT

Retail - Enterprise ICT

Summary

The Retail Enterprise ICT Country Intelligence Report, a new Vertical Intelligence Report by GlobalData, summarizes key findings from GlobalData’s ICT Customer Insight Survey carried out in H1-2023 and GlobalData’s Market Opportunity Forecasts to 2027: Retail. It reveals an executive-level overview of how the overall ICT budgets and their allocations towards various segments have changed for enterprises in the vertical in 2023 compared to 2022 and ICT revenue opportunity with detailed forecasts of key indicators up to 2027. The report provides detailed analysis of the overall retail's enterprise ICT market trends and growth drivers based on GlobalData’s ICT Customer Insight Survey and GlobalData’s Market Opportunity Forecasts. The report also discusses about the market growth inhibitors impacting retail's overall ICT market. Its sheds focus on enterprise ICT budget allocations and ICT revenue opportunity covering 18 solution areas, segmental analysis, regional analysis, as well as review of key macroeconomic and regulatory trends, and government initiatives. The report also includes a brief profile on some of the key ICT vendors within the retail vertical.

The vertical intelligence provides information and insights into ICT budget allocations and ICT revenue opportunity for enterprises in retail vertical

• Overall enterprise ICT revenue opportunity and ICT budget allocations for enterprises in retail
• Insights on Retail's enterprise ICT growth drivers and market trends, basis GlobalData's ICT Customer Insight Survey and Market Oppotunity Forecasts to 2027
• Insights on market growth inhibitors impacting retail's overall ICT market
• Breakdown of enterprise ICT revenue opportunity by solution areas and key regions
• Segmental analysis of retail's enterprise ICT budget allocations and ICT revenue opportunity - hardware, software and services
• Insights on ICT technology spending priorities of enterprises on key solution areas in retail
• Company snapshot

Scope

• ICT market growth in retail will be primarily driven by its robust digital infrastructure, strong 5G standalone coverage, digitally active population, strong affinity for technology and data consumption, and continued government initiatives for transforming into a digital economy.
• Retail's overall ICT market was pegged at $255.9 billion in 2022 and is expected to grow at a CAGR of 10.7% during 2022-2027 to reach $425.6 billion in 2027, due to rising ICT budgets of retailers, rising investments in 5G networks and development of novel digital solutions by startups in partnership with large retail companies.
• GlobalData’s ICT decision makers survey reveals a positive outlook for enterprise ICT spending in retail, with a majority of respondents, about 84.3% from the country, claiming that there has been an increase in the enterprise ICT budget in 2023 compared to 2022.
• Cloud computing can be regarded as the most attractive market in retail driven by enterprises increasingly leveraging cloud to achieve operational efficiency while ensuring security and agility, and government actively promoting cloud adoption as a part of its nationwide digital initiative. The revenue opportunity for cloud computing in retail was pegged at $37.9 billion in 2022 and is estimated to grow at a CAGR of 16.2% between 2022-2027.
• ICT revenue opportunity in North American region was pegged at $90.8 billion in 2022. It is expected to grow a CAGR of 8.5% during 2022-2027. By adopting ICT solutions like cloud-based platforms, AI-powered personalized recommendations, Retail companies are streamlining operations, enhancing digital experiences, reducing manual errors, and increasing overall efficiency.

Reasons to Buy

• This Vertical Intelligence Report is based on GlobalData’s IT Customer Insight Survey carried out annually covering key ICT decision makers from enterprises operating in Retail vertical and GlobalData’s Market Opportunity Forecasts to 2027, to offer a thorough, forward-looking analysis of retail’s enterprise ICT investment priorities and ICT revenue opportunity market.
• Accompanying GlobalData’s IT Customer Insight Survey and Market Opportunity Forecasts to 2027, the report examines the assumptions and drivers behind ongoing and upcoming trends in retail's enterprise ICT market.
• The report offers a thorough analysis of enterprise ICT investment trends and how it has changed this year compared to previous year.
• The report also presents an analysis of enterprise ICT budget allocations by various spending areas, business functions and product/service categories and how they have changed this year compared to previous years.
• The report also presents an analysis of enterprise ICT revenue opportunity by various solution areas and key regions over the forecast period 2022-2027.
• With more than 50 charts and tables, the report is designed for an executive-level audience, boasting presentation quality.
• The report provides insights in a concise format to help executives build proactive and profitable growth strategies.
• The report provides an easily digestible market assessment for decision-makers built around research gathered from the IT decision makers in retail vertical, which enables executives to quickly get up to speed with the current and emerging trends in enterprise ICT investment priorities.