North America Big Data Analytics in Refurbished Retail Market Report and Forecast 2024-2032

North America Big Data Analytics in Refurbished Retail Market Outlook

The North America big data analytics in refurbished retail market is expected to grow at a CAGR of 24.1%.

Key Trends in the Market

Big data analytics in retail helps companies to generate customer recommendations on the basis of their purchase history. This results in an improved ability to offer customised shopping experiences along with improved customer service. These data sets are available in massive volumes, and aid in forecasting trends as well as in making strategic decisions that are guided by data.

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• The growth of the North America big data analytics in refurbished retail market is driven by the rising usage of the IoT in retail processes, enhancing productivity as well as efficiency of retail and generating demand for retail analytics tools.

• Big data analytics supports retailers in increasing insights, and understanding customer buying behaviour, enhancing customer experience and providing ractical insights to develop all in-store operations which are further generating massive demand for retail analytics tools. This is further expected to bolster the market growth for big data analytics in refurbished retail.

• The increasing adoption of industry 4.0 across the retail sector, is one of the primary aspects encouraging market growth. Going further, in retail 4.0, several operations and processes in the retail industry like inventory management, customer service, customer accounts, supply chain management, and merchandising management activities became digitized and automated. This is further expected to bolster the growth of the North America big data analytics in refurbished retail market during the forecast period.

• The advent of technologies like artificial intelligence (AI), augmented reality (AR), and machine learning (ML), among others, are likely to increase opportunities for players in the market.

Market Analysis

Based on component, the North America big data analytics in refurbished retail market can be segmented into software and service. According to the product, the market is segmented into mobile phones and accessories, consumer durables/appliances, automotive, and computers and peripherals, among others. On the basis of type, the market is categorised into descriptive analytics, diagnostic analytics, predictive analytics, and prescriptive analytics. Based on the distribution channel, it can be segregated into offline stores and online. The regional markets for the big data analytics in refurbished retail market can be divided into the United States and Canada.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the North America big data analytics in refurbished retail market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Cisco System Inc.

• SAP SE

• IBM Corporation

• eSite Analytics

• Retail Next. Inc.

• Buxton

• Tango Analytics

• Others

Market Share by Components

The service segment is likely to hold significant growth in the North America big data analytics in refurbished retail market on account of the increasing demand for cloud services. Going further, the development of self-service analytics and data marketplaces are further expected to influence the market growth over the coming years.

Meanwhile, the software segment is likely to boost the market growth on account of the advantages of big data analytics in retail solutions. These include incorporating the delivery of business-critical insights and forecasting trends based on historical data, pricing analysis, customer behaviour insights, and supply chain management, among others.

Market Share by Region

Geographically, the United States is expected to witness significant growth in the North America big data analytics in refurbished retail market due to the presence of major market players in the country. The high spending on big data analytics tools coupled with early adoption of modern technologies like AI, and IoT, among others are driving the market growth.

Meanwhile, Canada is expected to propel the market growth during the forecast period due to the increase in launch of cloud-based big data platforms and increasing number of software platform providers in the country.

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Competitive Landscape

• Cisco System Inc. is an American-based multinational technology company headquartered in San Jose, California, with a strong position in the North America big data analytics in refurbished retail market. The company produces, develops, as well as sells networking software, hardware, and telecommunications equipment, among other high-technology services and products.

• SAP SE is a German multinational software company based in Baden-Württemberg. The company creates software to operate business operations along with customer relations. It is the world's leading company resource planning software vendor.

• IBM Corporation or International Business Machines Corporation is a multinational technology company headquartered in New York. It specialises in the manufacture and sales of computer middleware, software, and hardware, and offers hosting as well as consulting services in areas ranging from mainframe computers to nanotechnology.

Other major players include eSite Analytics, Retail Next. Inc., Buxton, and Tango Analytics, among others.

Key Highlights of the Report