Retail Execution Software Market to Grow at a CAGR of 7.2% to reach US$ 303.26 million from 2020 to 2027
The retail execution software market was valued at US$ 198.39 million in 2019 and it is projected to reach US$ 303.26 million by 2027; it is expected to grow at a CAGR of 7.2% from 2020 to 2027.
The global retail execution software market is witnessing substantial growth owing to the growing preference of retail and e-commerce platforms and increasing integration of payment gateways with retail execution software. Based on geography, North America led the market with 31.13% revenue share, followed by Europe and APAC. The presence of fast-growing economics, rising adoption of automated technology, increasing penetration of internet, and huge adoption of software by end users are among the prime factors expected to drive the growth of the retail execution software market in these regions. The retail execution software market in APAC is anticipated to grow at the highest CAGR during the forecast period. Rising adoption of advanced technologies in the retail industry drives the adoption rate of retail execution software. Companies invest in software to streamline their business operations. In APAC, the fastest-growing markets for retail and e-commerce are India and China. Consumers of these countries are highly inclined toward online shopping owing to rising internet penetration, and online shopping trends are transforming several areas of retail and e-commerce in the region. Thus, these factors are propelling the growth of the retail execution software market in APAC. Other developing regions, such as MEA and SAM, are also projected to grow at a steady pace owing to the increasing government initiatives to digitalize the economy with the adoption of advanced technologies.
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Retail Execution Software Market: Strategic Insights
Retail Execution Software Market
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CAGR (2019 - 2027)
7.2%
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Market Size 2019
US$ 198.39 Million
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Market Size 2027
US$ 303.26 Million
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Bizom Mobisy Technologies Private Limited
- EdgeCG StayinFront Inc
- Intelligence Retail
- Mobisoft
- POPProbe
- Spring Mobile Solutions Inc
- Trax Technology Solutions Pte Ltd
- Valomnia
- WINIT
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Enterprise Size
- SMEs and Large Enterprises
Application
- Retail Operations
- Field Service Management
- Mobile Forms Automation
- Field Sales
- Trade Promotion Management
- Employee Engagement
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Retail Execution Software Market: Strategic Insights
-
CAGR (2019 - 2027)7.2% -
Market Size 2019
US$ 198.39 Million -
Market Size 2027
US$ 303.26 Million
Market Dynamics
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Key Players
- Bizom Mobisy Technologies Private Limited
- EdgeCG StayinFront Inc
- Intelligence Retail
- Mobisoft
- POPProbe
- Spring Mobile Solutions Inc
- Trax Technology Solutions Pte Ltd
- Valomnia
- WINIT
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Enterprise Size - SMEs and Large Enterprises
Application - Retail Operations
- Field Service Management
- Mobile Forms Automation
- Field Sales
- Trade Promotion Management
- Employee Engagement
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Impact of COVID-19 Pandemic on Retail Execution Software Market
According to the latest report from World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are among the worst affected countries due to the COVID-19 outbreak. The crisis is adversely affecting the industries worldwide. The global economy took the worst hit in 2020, and it is likely to continue in 2021 also. The outbreak has created significant disruptions in primary industries such as logistics, retail, and e-commerce. The sharp decline in the international logistics business industry is restraining the growth of the global retail execution software market.
Retail Execution Software Market Insights
Increasing Integration of Payment Gateways with Retail Execution Software
Fuels Growth of Retail Execution Software Market
Online payments are relatively popular in APAC as most consumers use mobiles to pay for goods. Several popular e-payment options are used for mobile digital purchases in countries, such as South Korea, Japan, Singapore, and Australia. Payment gateway companies in these countries are offering comprehensive e-payment solutions to various retail execution software providers in order to catch the wave of technological development. Further, the market growth is attributed to advancements in payment gateway technology and increase in use of mobile wallets. Rising integration of payment gateway systems with retail execution software and rising online shopping, together with advancements in billing methods, are further expected to fuel the demand for retail execution software during the forecast period.
Enterprise Size-Based Market Insights
Based on enterprise size, the retail execution software market is bifurcated into large enterprises and SMEs. In 2019, the large enterprises segment accounted for a significant share in the market. However, the SMEs segment is anticipated to register a significant CAGR during the forecast period.
Application-Based Market Insights
Based on application, the retail execution software market is segmented into retail operations, field service management, mobile forms automation, field sales, trade promotion management, employee engagement, and others. In 2019, the retail operations segment accounted for a significant share in the market. Retail operations involve the management of individuals, supply chain, store layout, cash operations, physical inventory, and management of master data, promotions, and pricing. Retail execution software for retail operations equips brick-and-mortar retail stores with tools to take advantage of their current information and leverage it in a way that benefits their business.
Companies are highly engaged in developing new products to gain traction in the retail execution software market. For instance, Salesforce launched a new industry product, namely, Consumer Goods Cloud, which allows consumer goods companies to fuel revenue growth and increase ROI through enhanced retail execution capabilities. A few developments by key players are listed below:
2020:StayinFront, Inc. retail data insight (RDI) extended its partnership with Field Sales Solutions for real-time analytics. StayinFront RDI’s field view and ROI view, provide actionable insights to field sales teams. The services facilitate and maximize in-store effectiveness, allowing Field Sales Solutions’ clients the ability to do more, know more, and sell more.
2018:Intelligence Retail approached IBM to enhance its main offering and allow its customers to take advantage of tracking the key store audit indicators in actual-time. A new analytical module of the Intelligence Retail solution, based on the embedded IBM Watson Analytics technologies, is designed to help effectively track the key indicators of the retail audit by actual-time processing big data, including the availability of goods on the shelf, shelf share, prices, and promotions
Retail Execution Software Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 198.39 Million |
| Market Size by 2027 | US$ 303.26 Million |
| Global CAGR (2019 - 2027) | 7.2% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Enterprise Size
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| Regions and Countries Covered | North America
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| Market leaders and key company profiles |
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
By Enterprise Size
- Large Enterprises
- SMEs
By Application
- Retail Operations
- Field Service Management
- Mobile Forms Automation
- Field Sales
- Trade Promotion Management
- Employee Engagement
- Others
By Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Company Profiles
- Bizom (Mobisy Technologies Private Limited)
- EdgeCG (StayinFront, Inc.)
- Intelligence Retail
- Mobisoft
- POPProbe
- Spring Mobile Solutions, Inc.
- Trax Technology Solutions Pte Ltd.
- Valomnia
- WINIT
- Kantar Group
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Enterprise Size and Application , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The retail operations segment led the retail execution software market with a market share of 33.3% in 2019. Further, it is expected to garner 30.9% share by 2027. Retail operations involves the management of individuals, supply chain, store layout, cash operations, physical inventory, and management of master data, promotions and pricing, etc. Retail execution software for retail operations equips brick-and-mortar retail stores with tools to take advantage of their current information and leverage it in a way that benefits their business. This information is often obtained from POS systems, retail management systems, and other retail use software daily. This information is taken and analyzed by the retail operations platform, providing managers and business owners with usable insights. Pricing, inventory management, or store layout can be the focus of these insights. The objective is to optimize a store user data that the store is already collecting for maximum sales. Retail operations may be integrated to manage retail POS software, retail management systems, or retail task management software.
North America dominated the retail execution software market in 2019 with a share of 31.1%; and is expected to lose its market share during the forecast period. APAC is anticipated to hold the largest market share by 2027, followed by North America and Europe. APAC is anticipated to grow at the highest CAGR during the forecast period. The region comprises prime nations such as China, India, Japan, South Korea, and Australia. Rising adoption of advanced technologies in the retail industry is drives the adoption rate of retail execution software. Companies invest in software to streamline their business operations.
The retail and e-commerce industry provides a huge platform for shopping. It is increasing at an unprecedented rate across the globe. Retail and e-commerce platforms also help various businesses to reach their customers easily; hence, necessary exposure to business is achieved. According to the Census Bureau of the Department of Commerce, US retail e-commerce sales were US$ 160.3 billion for the first quarter of 2020, an increase of 2.4% from the fourth quarter of 2019. Growing retail and e-commerce industries in APAC and North America are thriving in the business for retail execution software. The retail execution software is used for planning, managing, and monitoring the in-store activities in the consumer packaged goods (CPG) industry—such as retail operations, field sales, trade promotion management, field service management, mobile forms automation, and employee engagement. These software facilitate to enhance the collaboration between CPG companies and retailers to increase profits and optimize in-store sales. This factor is scaling up the retail execution software market size year-on-year.
The List of Companies - Retail Execution Software Market
- Bizom (Mobisy Technologies Private Limited)
- EdgeCG (StayinFront, Inc.),
- Intelligence Retail
- Mobisoft
- POPProbe
- Spring Mobile Solutions, Inc.
- Trax Technology Solutions Pte Ltd.
- Valomnia
- WINIT
- Kantar Group
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