Our analysis suggests significant consolidation within the space as well as continued investment activity. The retail space is seeing a wave of legacy platform modernization in favor of new digital platforms, which will also drive the proliferation of solutions here, and ultimately consolidation.
Key trends highlighted in the report include:
- The global retail analytics market is expected to grow at a CAGR of ~24% from ~$10BN in 2022 to $90BN+ by 2032. Although developments in generative AI continue to receive a positive reception, brands and retailers will remain cautionary on adoption until use cases can be supported with consistent KPI improvements
- The M&A deal value in 2022 doubled compared to 2021, with landmark transactions such as Brookfield’s acquisition of Neilsen for $16BN in Oct ‘2022 and NPD’s acquisition of IRI for $8BN in Aug’22
- In 2023, it is expected that 80% of shoppers will use a combination of online and in-store shopping channels. As these shopping mediums converge, retailers will aggressively seek out solutions consolidating in-store and online shopping data for a unified view of the customer, informing omnichannel personalization recommendations and executing activations at scale
To provide a deeper lookdeeper understanding of the topicinto the sector, the report includes key disruptors, industry landscape, notable M&A transactions, and financing activity (including major deals within the last 24 months). The report also examines the emerging trends and future directions of retail data collection and management space.