The Europe Retail Cloud Market would witness market growth of 18.5% CAGR during the forecast period (2023-2029).
Digital demographics are also becoming increasingly important in the retail sector for understanding consumers. Additionally, retailers regionally emphasize delivering customization as omnichannel services become more widely used, which will support the market's expansion throughout the projected period. The development of e-commerce has raised the bar for traditional brick-and-mortar retail in recent years.
Despite the majority of purchases being made in physical locations, consumers have come to demand the same personalized, pertinent, practical, and user-friendly experiences while shopping offline, which has had a big impact on the market. Furthermore, due to its advantages, a hybrid cloud is becoming more popular among merchants for cloud adoption. Cloud POS Interface was introduced by Computop in November last year for retailers with several locations.
Retailers could use the Cloud POS Interface to control card terminals from any web-based ERP, shop, or POS system via the Computop Paygate. The solution does away with the necessity for the ZVT/OPI interface in the cash register to process card payments in general since it allows businesses to connect to POS terminals via the cloud. The ability for its terminals to be controlled by a SIM card is another feature of Cloud POS. Retailers can use a SIM card to connect to the cashier system if there is an instance where an airport is not connected to Cloud POS over a LAN or WiFi connection.
In the retail industry all around Europe, augmented reality technologies are used extensively. With apps designed based on augmented reality technology, users can learn more about a product before purchasing it. As a result, Amazon and other key participants in the online commerce sector can reduce the ratio of returns to associated costs, increasing NPS and customer happiness. Due to digitization, customers now have access to additional tools for navigating through stores, including the ability to utilize shopping lists that can be shared between users and are structured according to the aisles in the specific stores in the Europe region. Therefore, the development of the market is predicted to be aided by all these factors.
The Germany market dominated the Europe Retail Cloud Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $8,662.4 million by 2029. The UK market is experiencing a CAGR of 17.5% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 19.4% during (2023 - 2029).
Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Service Model, the market is segmented into Software as a Service, Platform as a Service, and Infrastructure as a Service. Based on Component, the market is segmented into Solution (Supply Chain Management, Customer Management, Workforce Management, Merchandising, Reporting & Analytics, Data Security, Omni-channel and Others) and Services. Based on Deployment Model, the market is segmented into Public Cloud, Private Cloud, and Hybrid Cloud. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Retail Cloud Market is Projected to reach USD 133 Billion by 2029, at a CAGR of 19.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alibaba Cloud (Alibaba Group Holding Limited), Cisco Systems, Inc., Salesforce, Inc., SAP SE, IBM Corporation, Oracle Corporation, Accenture PLC, Amazon Web Services, Inc (Amazon.com, Inc.), Microsoft Corporation and Google LLC (Alphabet Inc.)
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