The "Total Retail Software and SaaS Market" report has been added to ResearchAndMarkets.com's offering.
The analyst projects the worldwide software market (software, cloud and on-premise maintenance) will grow 76% from $71.0 Billion in 2019 to $124.7 Billion in 2024.
For SaaS/Cloud based solutions the analyst projects the worldwide market will grow 242% from $19.3 Billion in 2019 to $66.0 Billion in 2024.
The year 2020 has probably been one of the most bifurcated periods for retail software in recent memory. Areas such as order management, E-Commerce, mobile POS, touchless payment, etc, have had very good years as they've proven to be critical technologies in a Covid impacted economy.
Those vendors in the food, drug, mass merchant space, have (by most accounts) had fantastic years. Those vendors in the general retail space, have by and large had somewhat challenging years, and vendors that primarily support the hospitality space, have had immensely challenging years. The bright spot though in hospitality has been fast food restaurants with drive thru and existing delivery infrastructure such as pizza restaurants.
Those vendors heavily leveraged with SaaS based-solutions have done quite well as they have been able to meet the needs Covid has exposed. Those vendors heavily leveraged in on-premise solutions have found the year much more challenging, as SaaS based solutions are, more often than not, the go-to preference.
In spite of those challenges, the Retail Software Market will reflect a slight expansion in 2020 with a significant uptick and recovery expected in 2021. There are three key drivers for this expansion: retail in emerging economies is growing, enterprise retailers are re-architecting their systems to support Unified Commerce (the systems that enable the procurement, sale and delivery of merchandise independent of the channel), and the rise of Cloud computing (along with its cost efficiencies).
The analyst has been advising the retail community (vendors and retailers alike) since 1996 in retail information technology evolution and strategy.
Over the years the analyst has amassed a tremendous amount of primary- and secondary-source data through first hand consulting experience in this pursuit. From this ever-growing knowledge base, offerings like our Sophia Data Service, The Worldview IT Sizing Forecast Model as well as custom research projects have been developed and successfully launched.
This is a study under the Insight Market View series of research that is part of the Retail Executive Advisory Program (REAP). This study looks at the Total Retail Software and SaaS Market across 13 market segments of Retail and Hospitality.
Readers of this research will get a forecast for Software Licenses, Software Maintenance, and Software-as-a-Service. In addition, the size the market by Line of Business Categories ranging from Business Intelligence to eCommerce to Merchandising and Supply Chain to Marketing to Store Systems; 10 LOB categories in all.
Next the analyst provides rankings for combined Software and SaaS, Software and Maintenance, and then just SaaS on its own.
Then the analyst discusses market trends, drivers and market barriers.
The Insight Market View Map then positions vendors against each other in a 3-dimensional quadrant view. The upper right quadrant shows someone who is a leader in market strength and also in growth, innovation, and unified commerce coverage. What is unique about the analyst's approach is the analyst also adds a further dimension of market share scale so you can not only see who is in what quadrant, but how strong they are as well. This is ideal as executives review their market position and consider competitors and acquisition candidates.
Finally, the analyst provides market profiles on the top 15 software providers by revenue. Each profile includes total revenues, revenues by hardware, software, SaaS, and services, revenues by region, and revenues by Line of Business Category. In addition, the profiles include merger and acquisition information as well as key clients.
What makes this research different and more rigorous is that it is based on a very sophisticated and highly objective research model. It allows vendors, retailers and analysts to see who are the real leaders in retail software, true software market rankings, who is leading in the fast growing software-as-a-service market, and which vendors are leading in sales, innovation, market reach and can implement a complete unified commerce approach to retail.
Store Electric Systems
Toshiba Global Commerce Solutions
For more information about this report visit https://www.researchandmarkets.com/r/xcr52v
View source version on businesswire.com: https://www.businesswire.com/news/home/20210517005446/en/
Laura Wood, Senior Press Manager
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