Retail Cloud Market Segmentation:
Service Model Segment Analysis
The SaaS segment is anticipated to account for 48% share of the global retail cloud market during the forecast period. By offering subscription-based models that reduce hardware, software licenses and IT costs, SaaS solutions offer cost effectiveness. Without major investment, retailers can quickly expand their operation by using Software as a Service and be able to add or remove features and users if necessary. SaaS enables retailers to make data and applications available from any part of the world, which is advantageous for businesses with a global reach. Moreover, the user-friendliness of software as a service means that they are easily adopted and used for quick benefit by retailers with limited technical capacity. The subscription business model will account for 53% of all software revenue in 2022.
Deployment Model Segment Analysis
Retail cloud market from the public cloud segment is anticipated to hold 51% of the revenue share during the forecast period. The numerous benefits offered to retailers, such as scalability, flexibility, and cost efficiency, are part of the reason. The public cloud enables the use of services such as data storage, computing power, and analysis making it an attractive option for retailers. The dominant role of the public cloud is predicted to be maintained by retailers who want to take advantage of its benefits in order to enhance their business and keep up with competitors.
Our in-depth analysis of the global market includes the following segments:
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