Big Data Analytics in Retail Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The big data analytics in retail market was estimated at USD 4.18 billion in 2020. This market is expected to reach USD 13.26 billion by the end of 2026, registering a CAGR of 21.20% during the forecast period (2021-2026). The retail industry is witnessing a major transformation through the use of advanced analytics and Big Data technologies. With the growth of e-commerce, online shopping, and high competition for customer loyalty, retailers are utilizing Big Data analytics to stay competitive in the market.
Key HighlightsThe big data analytics in the retail market is fragmented. The growth of e-commerce, online shopping, and high competition for customer loyalty, provides lucrative opportunities in big data analytics in the retail market. Overall, the competitive rivalry among existing competitors is high. Moving forward, different kind of innovation strategies of large companies boosting the market growth effectively. Some of the key developments in the area are:
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