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Retail Execution Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Enterprise Size and Application, and Geography

·4-min read

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.

New York, March 23, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Retail Execution Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Enterprise Size and Application, and Geography" -

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 retail execution software market.

APAC is estimated to hold the largest retail execution software market share in 2019.China, India, Japan, South Korea, and Australia are the major countries in Asia Pacific (APAC).

The region is well-known for technological innovations in these countries.Liberal retail policies in effect, the removal of trade barriers and foreign investment constraints, and links to the World Trade Organization (WTO) are supporting the growth of the retail sector in the abovementioned APAC countries.

India has recently liberalized its policies, which will contribute to greater growth and make business easier.Moreover, rapid technological developments, government initiatives, economic digitalization, and rising disposable income (especially of the middle-income class group) are among the significant factors contributing to the overall economy growth of the region.

APAC is projected to register the fastest CAGR in the market during the forecast period. It has robust IT infrastructure, with secure software and services offerings; and strong positions in areas of development such as AI. Furthermore, the countries in the region are witnessing high population growth, which encourages the growth of the retail and e-commerce industries.

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.

The retail execution software market is segmented on the basis of enterprise size and application.Based on enterprise size, the market is bifurcated into large enterprises and SMEs.

In 2019, the large enterprises segment accounted for a significant share in the market.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.

The overall retail execution software market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the retail execution software market with respect to all the segments.It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the retail execution software market.

A few players profiled in the global retail execution software market are Bizom (Mobisy Technologies Private Limited); EdgeCG (StayinFront, Inc.); Intelligence Retail; Mobisoft; POPProbe; Spring Mobile Solutions, Inc.; Trax Technology Solutions Pte Ltd.; Valomnia; WINIT; and Kantar Group.
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