DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Retail Cloud Market by Type (Solution and Service), Service Model (SaaS, PaaS, and IaaS), Organization Size, Deployment Model (Public, Private, and Hybrid Cloud), and Region - Global Forecast to 2021" report to their offering.
The retail cloud market size is estimated to grow from USD 11.06 billion in 2016 to USD 28.53 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 20.9% due to factors such as rapid adoption of smartphones, need for compliance & collaboration and shift to omni-channel experience. However, the growing concerns regarding data security and privacy are the major restraints in the overall growth of the market.
The increasing trend towards cloud-based solutions would give rise to the growth of the retail cloud market in this region. North America is expected to hold the largest market share and dominate the retail cloud market in 2016. Various factors contributing to this growth are the organizations' shift toward cloud-based solutions and services, along with the increasing adoption of digital business strategies, and enterprises' preference to personalize the in-store experiences of consumers to provide them with better shopping experiences.
- Rapid Adoption of Smartphones
- Need for Compliance and Collaboration
- Shift to Omni-Channel Experience
- Growing Concerns Regarding Security and Privacy
- Mobile Pos (MPOS)
- IoT in Retail
- Click-And-Collect Programs
- Frequently Changing Consumer Preferences
- Reluctance of Retailers to Adopt Cloud
- Cisco Systems
- Computer Sciences
- Epicor Software
- International Business Machines
- JDA Software Group
- Retail Solutions
For more information about this report visit http://www.researchandmarkets.com/research/ggb7dm/retail_cloud