The retail data monetization market is projected to grow at a CAGR of 3.84 % during the forecast period. Rapid growth of this industry, on account of booming growth of e-commerce across all major geographies worldwide, is one of the major factors driving the growth of this market. As both online and offline retail channels continue to witness an impressive growth, players across this ecosystem are moving towards digitization of business processes. Increasing digitization across business functions in this industry has been increasing exponentially the volume of data generated by them every day. Growing competition among enterprises in this industry is increasing the need among them to stay ahead of their rivals by continuously tracking their moves in order to plan their growth strategies. As huge volumes of data generated from business processes holds immense value and can be instrumental in giving enterprises actionable insights, the need to monetize it is increasing across the industry. This is fuelling the adoption of data monetization solutions, thus boosting the market growth.
Growing competition across retail industry
Increasing digitization of business functions
Lack of awareness among some enterprises regarding the potential data monetization holds
Limited budget of some SMEs
The major players profiled in the retail data monetization market include Accenture, ALC, Gemalto, Google, IBM, Infosys, Monetize Solutions, and SAP.
The retail data monetization Market has been analyzed through the following segments:
By Deployment Model
By Enterprise Size
Middle East and Africa