The Retail Cloud Market size is estimated at USD 46.98 billion in 2024, and is expected to reach USD 127.69 billion by 2029, growing at a CAGR of 22.14% during the forecast period (2024-2029).
The rise of e-commerce has set the standards for brick-and-mortar retail in recent years. Although shoppers complete most transactions in brick-and-mortar stores, customers have grown to expect the same personalized, relevant, convenient, and easy-to-use experiences they encounter online when they shop in-store, driving the retail cloud market significantly.
The market is moderately fragmented and has become competitive in recent years. The players in the market have adopted different strategies to gain a competitive advantage. For example, new product development and acquisitions are some of these strategies. Consistent innovation, with a specific end goal, is a primary strategy used by these players to keep up their aggressive positions in the market and advance consumer loyalty.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook