Asia Pacific Retail Analytics Market Size (2024 - 2029)

The Asia Pacific retail analytics market is experiencing rapid growth, driven by the increasing adoption of Internet of Things and analytics tools by retailers. This market expansion is fueled by the need for data-driven insights to enhance marketing and procurement decisions, improve operational procedures, and meet consumer demands for tailored omnichannel experiences. The rise of e-commerce, smartphones, and Industry 4.0 further contributes to the market's growth, as does the opening of new retail establishments in developing countries. However, the market's growth is challenged by high capital expenditures and limited access to technology in unorganized retail sectors.

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Market Size of Asia Pacific Retail Analytics Industry

Asia Pacific Retail Analytics Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 9.28 Billion
Market Size (2029) USD 18.21 Billion
CAGR (2024 - 2029) 14.43 %
Market Concentration Medium

Major Players

Asia Pacific Retail Analytics Market Major Players

*Disclaimer: Major Players sorted in no particular order

APAC Retail Analytics Market Analysis

The Asia Pacific Retail Analytics Market size is estimated at USD 9.28 billion in 2024, and is expected to reach USD 18.21 billion by 2029, growing at a CAGR of 14.43% during the forecast period (2024-2029).

  • The market is expanding quickly due to retailers using the Internet of Things more frequently and adopting analytics tools faster.
  • Retail analytics provides analytical data on inventory levels, supply chain movement, consumer demand, sales, etc., essential for marketing and procurement decisions. Retail analytics is the analysis of data generated by retail operations to make business decisions that drive profitability. Data analytics on supply and demand can be applied to maintain procurement levels and make marketing decisions.
  • This includes offering insights to comprehend and improve the retail business's operational procedures, sales trends, consumer behavior, and overall performance. Because of consumers' high standards for retail today, companies must satisfy these growing demands with tailored omnichannel offers, practical procedures, and prompt adjustments to emerging trends. All of these activities require retail analytics. The market is expected to expand as more retail establishments open in countries such as China, Japan, India, and other developing nations.
  • For instance, Reliance Retail announced in February 2023 that it planned to open multiple Gap stores next year with an eye toward the country's mid-premium apparel market. Reliance Retail acquired the rights to sell American casual wear brand Gap in India last year. The retailer plans to open 50 new locations overall in the upcoming year. The opening of such stores will increase demand for retail analytical solutions.
  • Analytics can help retailers make better marketing decisions, improve business processes, and provide better overall customer experiences by identifying areas for improvement and optimization. The demand for analytical solutions in the sector is anticipated to increase with the rapid expansion of the retail industry across all countries. For instance, retail sales in Japan rose by 6.6% YoY in February 2023, exceeding market expectations of 5.8% and accelerating from a revised 5% growth in January. Retail trade increased for the 12th month, running the fastest since May 2021.
  • Additionally, the retail sector's growing adoption of Industry 4.0 has significantly aided the market's expansion. The market for retail analytics is expanding due to the rising popularity of smartphones and e-commerce. During the forecast period, it is also anticipated that increasing income levels, government spending on big data and analytics, and demand for automated retail-based services will stimulate the regional retail analytics market.
  • Retail analytics market growth is significantly constrained by the high capital expenditures required for installation, maintenance, testing, licensing, and other technical labor costs associated with retail analytics tools. Another factor impacting the market is the unorganized retail sectors' limited access to technology and tight budgets.

APAC Retail Analytics Industry Segmentation

Retail analytics provides analytics tools in the retail industry on business trends, patterns, and performance. Retail business analytics enable retailers to leverage data-driven insights from their businesses and customers to improve the consumer experience, increase sales, and optimize business operations.

The Asia Pacific retail analytics market is segmented by mode of deployment (on-premise and on-demand), by type (solutions and services), by module type (strategy and planning, marketing, financial management, store operations, merchandising, supply chain management), by business type (small & medium enterprises, large-scale organizations, and other module types), and geography (China, Japan, India, South Korea, and the Rest of Asia Pacific). 

The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Mode of Deployment
On-Premise
On-Demand
By Type
Solutions (Analytics, Visualization Tools, Data Management, etc.)
Services (Integration, Support & Consulting)
By Module Type
Strategy & Planning (Macro Trends, KPI, Value Analysis)
Marketing (Pricing, Loyalty and Segment Analysis)
Financial Management (Accounts Management)
Store Operations (Fraud Detection, Workforce Analytics)
Merchandising (Assortment Optimization, Shopper Path Analytics)
Supply Chain Management (Inventory, Vendor and Supply-Demand Modelling)
Other Module Types
By Business Type
Small and Medium Enterprises
Large-scale Organizations
Geography
China
India
Japan
South Korea
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Asia Pacific Retail Analytics Market Size Summary

The Asia Pacific retail analytics market is experiencing rapid growth, driven by the increasing adoption of Internet of Things technologies and advanced analytics tools by retailers. This market expansion is fueled by the need for data-driven insights to optimize inventory management, supply chain operations, and consumer engagement strategies. Retail analytics plays a crucial role in helping businesses make informed decisions that enhance profitability and customer satisfaction. As retailers strive to meet the high expectations of today's consumers, the demand for tailored omnichannel experiences and agile responses to market trends is rising, further propelling the market's growth. The proliferation of retail establishments in countries like China, Japan, and India is expected to contribute significantly to the market's expansion, as seen in initiatives like Reliance Retail's plans to open new Gap stores in India.

The market is also benefiting from the broader adoption of Industry 4.0 principles, the rise of e-commerce, and the increasing use of smartphones, which are all driving the demand for sophisticated retail analytics solutions. Despite the challenges posed by high capital expenditures and limited access to technology in unorganized retail sectors, the market is poised for substantial growth. Data management solutions are anticipated to dominate the sector, enabling retailers to leverage data for personalized marketing and improved operational efficiency. The integration of real-time analytics, artificial intelligence, and machine learning is expected to further enhance the capabilities of retail analytics, offering retailers the tools needed to streamline operations and enhance customer experiences. As the retail landscape in Asia Pacific continues to evolve, the importance of data analytics in shaping the future of retail is becoming increasingly evident.

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Asia Pacific Retail Analytics Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness Porter's Five Forces Analysis

      1. 1.2.1 Bargaining power of Buyers

      2. 1.2.2 Bargaining power of Suppliers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitute Products

      5. 1.2.5 Bargaining power of Buyers

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Assessment of COVID-19 impact on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Mode of Deployment

      1. 2.1.1 On-Premise

      2. 2.1.2 On-Demand

    2. 2.2 By Type

      1. 2.2.1 Solutions (Analytics, Visualization Tools, Data Management, etc.)

      2. 2.2.2 Services (Integration, Support & Consulting)

    3. 2.3 By Module Type

      1. 2.3.1 Strategy & Planning (Macro Trends, KPI, Value Analysis)

      2. 2.3.2 Marketing (Pricing, Loyalty and Segment Analysis)

      3. 2.3.3 Financial Management (Accounts Management)

      4. 2.3.4 Store Operations (Fraud Detection, Workforce Analytics)

      5. 2.3.5 Merchandising (Assortment Optimization, Shopper Path Analytics)

      6. 2.3.6 Supply Chain Management (Inventory, Vendor and Supply-Demand Modelling)

      7. 2.3.7 Other Module Types

    4. 2.4 By Business Type

      1. 2.4.1 Small and Medium Enterprises

      2. 2.4.2 Large-scale Organizations

    5. 2.5 Geography

      1. 2.5.1 China

      2. 2.5.2 India

      3. 2.5.3 Japan

      4. 2.5.4 South Korea

Asia Pacific Retail Analytics Market Size FAQs

The Asia Pacific Retail Analytics Market size is expected to reach USD 9.28 billion in 2024 and grow at a CAGR of 14.43% to reach USD 18.21 billion by 2029.

In 2024, the Asia Pacific Retail Analytics Market size is expected to reach USD 9.28 billion.

APAC Retail Analytics Market Report Snapshots

Asia Pacific Retail Analytics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)