Cloud computing is referred to as an on-demand offer of database, applications, computing power, storage and other IT necessities through the internet on a pay-as-you-go model of pricing. It caters an enterprise by offering access to databases, servers, storage and an array of application services over the Internet. A cloud services providers such as Amazon Web Services own network-connected hardware essential for application services.
The global market size for cloud computing market was USD 11.66 billion in 2018 and is anticipated to grow at a double digit CAGR during the forecast period. The factor that led to higher adoption of cloud computing is, big data offer customer insights and help retailers offer personalized offering to customers. Cloud services are able to merge the in-store data with the digital data to offer the best solutions to their customers. This enables retailers to have an enterprise-wide supply chain insight or visibility. The technology help retailers own supply chain systems which are capable of effectively handling their business without expedited deliveries, stock-outs or high inventories. In addition to that, cloud helps in capturing digitized documents from suppliers, logistics providers, carriers, brokers, etc. and real-time status of consignments. For instance, Cargill used blockchain technology to trace each and every Thanksgiving turkeys. The technology involved to implement this was deployed on a cloud-based system.
.png "Global Cloud Computing in Retail and Consumer Goods Market Size 2015-2025 (USD Billion)")
The factors that may hinder the growth of cloud computing in retail and consumer goods is, presence of different tools to create applications for each community cloud application platform. This makes app development difficult that span across numerous cloud providers.
Cloud Computing Market Scope
| Metrics | Details |
| Base Year | 2019 |
| Historic Data | 2017-2018 |
| Forecast Period | 2020-2025 |
| Study Period | 2015-2025 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2025 | USD 11.66 billion |
| Segment Covered | Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East & Africa |
| Key Players Profiled | Amazon Web Services, Microsoft, Google Cloud Platform, IBM, Artha Systems LLC, Cloud4Wi, Commercetools, NextOrbit, PlumSlice Labs, retailcloud, Springboard Retail and SPS Commerce |
Key Segments of the Global Cloud Computing in Retail & Consumer Goods Market
Regional Overview, 2015-2025 (USD Billion)
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- UK
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- India
- Japan
- China
- Southeast Asia
- Rest of APAC
- South America
- Brazil
- Rest of South America
- Middle East and Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global cloud computing in retail & consumer goods market. Benchmark yourself against the rest of the market.
- Be prepared for how cloud computing in retail & consumer goods trends and the global cloud computing in retail & consumer goods market will be impacted by socio-political and economic factors over the next few years
- Ensure you remain competitive as new innovations and insurance models begin to enter the market.
What does the report include?
- The study on the global cloud computing in retail & consumer goods market includes qualitative factors such as drivers, restraints, and opportunities
- Additionally, the market has been evaluated using the Porter’s 5 Forces and Value Chain Analysis.
- The study covers qualitative and quantitative analysis of the market segmented on the basis of region.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
- The study includes the profiles of key players in the market with a significant Global and/or regional presence.
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global cloud computing in retail & consumer goods market. The report will benefit:
- Executives of cloud computing in retail & consumer goods companies that are engaged in the cloud computing in retail & consumer goods sales.
- Managers within financial institutions looking to publish recent and forecasted statistics pertaining to the global cloud computing in retail & consumer goods market.
- Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative global cloud computing in retail & consumer goods solutions.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
Asia-Pacific dominated the market for cloud computing in retail & consumer goods market and accounted for the largest revenue share.
The top companies that hold the market share in cloud computing in retail & consumer goods market are Amazon Web Services, Microsoft, Google Cloud Platform, IBM, Artha Systems LLC, Cloud4Wi, Commercetools, NextOrbit, PlumSlice Labs, retailcloud, Springboard Retail and SPS Commerce & among others.
To get latest version of cloud computing in retail & consumer goods market report can be obtained on demand from the website.
Retail companies are widely adopting various technologies to overtake less advanced competitors, increase revenue and gain new customers. Besides, companies emphasis on digital transformation to reshape shopping, online experiences and even customer expectations of physical stores.
AR is highly disruptive technology and its integration with the cloud is expected to drive new opportunities in the retail industry. Huge number of retailer are embracing the technology. Lacoste, Uniqlo and American Apparel have opened virtual fitting rooms and showrooms to let customers try products in virtual spaces. Ikea is employing an ARKit-based app to facilitate customers with visualization of how new furniture will look like in a room while moving phone cameras around in real-time. Zara equipped smart mirrors that scan RFID tags on outfits that are selected from shelves to offer recommendations in a fashion closer to what buyers see from online stores rather than physical shop
While platform developers like Microsoft, Amazon and Google are innovating at the base level, vendors like Botmetric are at the top in creating comprehensive and innovative cloud management tools.
Every organization in the retail and consumer goods industry has some preference when it comes to cloud computing. First and foremost, businesses must implement the technology in order to improve channel operations. For instance, cloud services are able to merge the in-store data with the digital data to offer best solutions to their customers. By implementing cloud technology in various operations, retailer can widen their supply chain visibility. These are some of the major IT priorities of retail and consumer goods industry. Apart from this, now-a-days, industries are showing interest in Augmented Reality to engage higher number of customers and offer them real-feel of products even before buying it.
Geographically, the Asia-Pacific region dominated cloud computing market and which is followed by North America and European region. In Asia-Pacific, factors driving the adoption of cloud computing is rising purchasing power of customers coupled with manufacturers striving on satisfying customer expectations which enable existing customer retention and new customer acquisition.
.png "Asia-Pacific Cloud Computing in Retail and Consumer Goods Market, by Region, 2013-2018 (USD Billion)")
The key players in global cloud computing in retail and consumer goods are Amazon Web Services, Microsoft, Google Cloud Platform, IBM, Artha Systems LLC, Cloud4Wi, Commercetools, NextOrbit, PlumSlice Labs, retailcloud, Springboard Retail and SPS Commerce. These leading players are part of mergers and acquisitions to remain on competitive advantage of market. For instance, in April 2019, Nestle the food manufacturer had partnered Microsoft with an aim of collaboration towards digitalization of its food business in China region.