The Latin America, Middle East and Africa Retail Analytics Market would witness market growth of 27.3% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Retail Analytics Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $819.8 million by 2031. The Argentina market is registering CAGR of 27.9% during (2024 - 2031). Additionally, The UAE market would showcase a CAGR of 26.9% during (2024 - 2031).
The demand for advanced analytics solutions is driven by retailers' ability to obtain insights into consumer behavior, preferences, and trends through this abundance of data. Retailers with mobile apps can utilize analytics tools to track user interactions within their apps.
Additionally, Insights regarding in-app behaviors, user engagement, retention rates, and conversion funnels are all significantly enhanced by mobile application analytics. By analyzing these metrics, retailers can optimize their mobile apps, improve user experiences, and drive conversions.
According to information provided by the U.S. Embassy and Consulates in 2022, there were 30 million MSMEs (micro, small, and medium-sized firms) in Brazil, which accounted for thirty percent of GDP. Almost 73% of all formal positions created in Brazil between January and October 2021 were in small and medium-sized enterprises (MSMEs) that are registered. MSMEs account for more than 50% of all formal sector employment. Thus, due to these aspects, the retail analytics market will expand across the LAMEA region in upcoming years.
Free Valuable Insights: The Worldwide Retail Analytics Market is Projected to reach USD 39 Billion by 2031, at a CAGR of 24.5%
Based on Deployment Mode, the market is segmented into On-demand, and On-premise. Based on Component, the market is segmented into Solution, and Services. Based on Services Type, the market is segmented into Professional, and Managed. Based on Business Function, the market is segmented into Supply Chain, Strategy & Planning, Sales & Marketing, In-store Operation, and Human Resource (HR) & Others. Based on Enterprise Size, the market is segmented into Large Enterprise, and Small & Medium Enterprise. Based on Application, the market is segmented into Inventory Analysis, Yield Analysis, Performance Analysis, Merchandising Analysis, Customer Management, Pricing Analysis, and Others.Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Deployment Mode
By Component
By Business Function
By Enterprise Size
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By Country
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