Cloud Computing In Retail Industry—Infographic
As the power has shifted from retailers to customers, the retail industry has to undergo a digital transformation. Cloud migration is a promising investment for retail organizations to attract and retain their customer base. Growing at a CAGR of 17.7% between the time period 2019-2025, the market size is predicted to reach $20.11 billion by 2020.
Retail trade comprises 10% of the North American GDP making the region the largest market for cloud service adoption. The Asia Pacific is the fastest growing market and the developing economies of this region are driving growth.
Impact Of Cloud Computing In Retail
Cloud computing is the path for retail moving forward. The opportunities that cloud brings to the industry not only help increase consumer demand but also keep up with it. Here are some advantages that the retail industry will reap:
- Data-driven decisions
- Higher visibility
- Cost efficiency
- Unified computing
- Easy inventory management
Customer-centric services are enhanced through the means of cloud migration in retail organizations. Opening up new avenues in their business, retailers gain a competitive edge in the market.