Category : ICT | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC2240
Flourishing retail sector across the globe, rising competition in the market is resulting in demand for advanced analytical solution that aid enterprises in increasing sale by reducing the cost this is major factors expected to drive the growth of global market.
Customers demand is constantly changing and retailers have to cater the ongoing demand in order to stay in the business. The retail space planning software aid them in optimizing the product range, reduce out of stock situation, reduce the operational cost, etc.
Increasing government spending on development of IT infrastructure and high investment by major players with the focus on offering innovative solutions these are among other factors expected to support the growth of target market.
High presence of large number of players operating in the market along with approach towards partnership and agreements in order to enhance the customer base this factor is expected to augment the growth of target market.
In 2020, RELEX Solutions is a leading provider of cutting-edge retail optimization software partnered with REWE Group is a German diversified retail and tourism co-operative group. The partnership is focused on providing unified retail planning solutions, to create automated, store-specific planograms. This is expected to help the company to increase the customer base.
In 2020, the company announced that the Family Farm & Home, a retailer specializing in farm and rural lifestyle products is expected to select RELEX Solutions in order to provider of unified retail optimization solutions, to integrate and automate their supply chain. This is expected to help the company to enhance the business presence.
In 2020, the company signed a partnership agreement with PLUS Retail a global enterprise with around 270 supermarkets operated by independent entrepreneurs. The partnership is focused on adoption of pragmatic Artificial Intelligence (AI) and innovative machine-learning technology offered by RELEX in order to increase operational efficiency across the entire organization and deliver unified planning processes that better meet local demand and cut waste. This is expected to aid the company to enhance the business presence.
In addition, players are focused on strategic acquisition in order to enhance the product portfolio and increase the company presence this is expected to impact the growth of target market.
In 2019, Solutions is a leading provider of cutting-edge retail optimization software acquired Zenopt. The acquisition is expected to help the company to add Workforce Optimization and Management Solution to Unified Retail Planning Suite to its product portfolio further strengthening the company position in the target market.
In 2019, Trax Image Recognition a global provider of computer vision and analytics solutions for retail acquired Planorama. The acquisition will help the company to serve Consumer Packaged Goods (CPG) customers globally, by expanding customer reach and making available a comprehensive set of in-store execution tools to the market.
In 2019, InContext Solutions, a global leader in 3D simulation software for retail acquired Staccar App for visualizing and customizing in-store execution in retail environments. This acquisition is expected to help the company to enhance the business presence and increase the revenue share.
However, factors such as high initial cost of services and lack of advanced infrastructure in developing countries in order to support the software solutions are expected to hamper the growth of global market. In addition, lack of skilled professionals is another factor expected challenge the growth of target market.
Rapid technological advancements by major players in software solutions and increasing government spending on development of IT infrastructure are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, emergence of small and mid-size enterprises with innovative solutions is expected to support the revenue growth of target market.
Segment Analysis by Region
The market in North America is expected to account for significant revenue share in the global market due to availability of advanced infrastructure in order to support the adoption of analytical solutions. In addition, presence of large number of players operating in the country and focus on introduction of innovative solutions in order to attract new customers is another factor expected to support the growth of target market.
Competitive Landscape
The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Report coverage
|
Market |
Global Retail Space Planning Software Market |
|
Analysis Period |
2016 – 2027 |
|
Base Year |
2019 |
|
Forecast Data |
2020 – 2027 |
|
Market Stratification |
Component, Enterprise Size and Geography |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
|
Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Retail Space Planning Software Market Segment Analysis, 2019
The global market is segmented into component and enterprise size. The component segment is further bifurcated into software and services. Among the component segment the service segment is expected to witness faster growth due to rising competition across the globe and adoption of analytical solution in order to stay ahead against the competitors.
The enterprise size segment is further divided into small enterprises and large enterprises. Among the enterprise size the large enterprise segment is expected to account for major revenue share due to high spending capacity.
The players profiled in the report are Dassault Systmes, DOTACTIV (PTY) LTD., ExTech s.r.o., InContext Solutions, Klee 3D, Oracle Corp., Planorama, RELEX Solutions, SmartDraw, LLC, and The Nielsen Company, LLC.
Market Segmentation
Market By Component
Software
Service
Market By Enterprise Size
Small Enterprises
Large Enterprises
Market By Region
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
