As Stated by BlueWeave Consulting, the global retail cloud market is expected to cross USD 50,000 million by 2024, at a CAGR over 20% during the forecast period 2018-2024. Significant growth in cloud-based retail business has been one of the key factors which escalate this market growth.
Cloud based business help retailers in supply chain processes. Investment in cloud collaboration platforms helps business in capturing real time order status information, streamline inventories, track product deliverables, and effectively a collection of critical market data from consumers.
Competitive Dynamics:
In the recent past, partnership and agreements have been the major recent activities in the global retail cloud market. Players such as Oracle and IBM are focusing on increasing their cloud offerings by entering into a strategic alliance with small and medium scale software and service providers. Some of the major players in this industry are Epicor Software Corporation, SAP SE, IBM, Microsoft Corporation, Oracle Corporation, Infor, Retail Cloud, and, Cisco Systems Inc.