GCC Retail Analytics Market Research Report By Component Type (services, solutions) and By Organization Size (large enterprises, small and medium enterprises)-Forecast to 2035

GCC Retail Analytics Market Overview

As per MRFR analysis, the GCC Retail Analytics Market Size was estimated at 59.78 (USD Million) in 2023.The GCC Retail Analytics Market is expected to grow from 68.6(USD Million) in 2024 to 351.32 (USD Million) by 2035. The GCC Retail Analytics Market CAGR (growth rate) is expected to be around 16.008% during the forecast period (2025 - 2035).

Key GCC Retail Analytics Market Trends Highlighted

A number of important market factors are propelling the GCC retail analytics industry's notable expansion. Retailers are depending more and more on data-driven decisions as a result of the region's rapid digital transformation. Retailers are being encouraged to improve their analytics capabilities by the governments of the GCC countries, who are supporting smart city programs and the adoption of digital technologies.

The need for customized shopping experiences is also driving the adoption of advanced analytics tools, which give merchants a better understanding of customer behavior. The GCC Retail Analytics Market offers a plethora of options for merchants looking to enhance inventory control and increase supply chain efficiencies.

The COVID-19 epidemic has hastened the growth of e-commerce, which gives businesses an opportunity to use analytics to improve their online products and customer service tactics. Additionally, companies in the area can have a better understanding of consumer patterns and preferences by using AI and machine learning into retail analytics.

Real-time analytics solutions, which can offer immediate insights into customer interactions and purchase habits, are becoming more and more popular in the GCC retail analytics market. To offer a smooth experience across digital and physical channels, businesses are investing in omnichannel solutions.

Retailers are also using analytics to track and reduce their carbon footprints as a result of the movement towards sustainability. All things considered, the GCC Retail Analytics Market's vibrancy indicates a move toward utilizing technology to improve retail operations and client interaction. The sector will see additional opportunities for innovation and expansion as digital infrastructure develops further.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

GCC Retail Analytics Market Drivers

Increasing Digital Transformation in GCC Retail Sector

The retail sector in the Gulf Cooperation Council (GCC) is witnessing a notable shift towards digital transformation, driven by the growing adoption of advanced technologies.

According to a report from the Saudi Arabian Ministry of Communications and Information Technology, over 70% of retail businesses in Saudi Arabia have implemented or are actively pursuing digital strategies to enhance efficiency and customer experience. This trend is amplified by the rapid growth of e-commerce, which has seen a surge in online shopping behavior among consumers in the region.

For example, the United Arab Emirates has experienced a 53% increase in online retail sales during the last three years due to COVID-19, as noted by the UAE Government. As a result, the GCC Retail Analytics Market is expected to grow, with retailers increasingly utilizing analytics to gain insights on consumer behavior, optimize inventory management, and personalize marketing efforts.

Rising Demand for Data-Driven Decision Making

The GCC region is witnessing a paradigm shift towards data-driven decision-making in retail, as businesses now recognize the importance of utilizing analytics to make informed choices. A survey conducted by the Dubai Economic Department indicated that 86% of businesses in the emirate are prioritizing data analytics for strategic planning and operational efficiency.

The increasing volume of customer data generated through loyalty programs, social media, and digital transactions is compelling retailers to invest in robust analytics solutions. This trend is likely to propel the GCC Retail Analytics Market, as retailers look to leverage data insights for improving customer engagement and enhancing sales performance.

Government Initiatives Supporting Retail Growth

Governments across the GCC region are implementing initiatives to support and grow the retail sector, which, in turn, is propelling the demand for retail analytics. For instance, the Qatar National Vision 2030 aims to diversify the economy and enhance the retail landscape through infrastructural developments and investment incentives.

Furthermore, the Bahrain Economic Development Board has launched various programs to attract retail and e-commerce businesses to the kingdom, creating an environment conducive to analytics investments.

These initiatives will drive the GCC Retail Analytics Market as retailers are encouraged to adopt modern analytics tools to stay competitive and meet the expectations of increasingly discerning consumers.

GCC Retail Analytics Market Segment Insights

Retail Analytics Market Component Type Insights

The GCC Retail Analytics Market has been evolving significantly, with a prominent focus on the Component Type segment, which encompasses services and solutions that are essential for retail operations.

As retailers in the GCC region increasingly rely on data-driven decision-making, the importance of robust analytics solutions cannot be overstated. The GCC Retail Analytics Market is influenced by various factors, including a booming e-commerce sector, rapid urbanization, and a tech-savvy population, providing substantial opportunities for growth.

Services within the market play a crucial role, as they facilitate the implementation and optimization of analytics systems, ensuring retailers can leverage data effectively to enhance customer experiences and streamline operations. This demand for services is driven by the need for specialized skills and knowledge, which many retailers lack in-house.

The trend towards adopting cloud-based solutions for retail analytics is also noteworthy, as it allows for greater scalability and flexibility in managing operations, which is essential in a rapidly changing market landscape.

Solutions, on the other hand, are critical for collecting, analyzing, and interpreting data across various channels. Given the competitive nature of the retail environment in the GCC, adopting comprehensive analytics solutions is becoming a strategic necessity.

The integration of artificial intelligence and machine learning into retail analytics solutions is also gaining traction, allowing retailers to predict trends, optimize inventory, and personalize marketing strategies more effectively.

In this context, both services and solutions are driving significant advancements in customer insight generation, which aids retailers in tailoring their offerings to meet the evolving preferences of consumers in the GCC region.

Furthermore, the GCC governments' initiative to diversify their economies beyond oil dependency has spurred the growth of the retail sector. This diversification has led to increased investments in technology and analytics, propelling the GCC Retail Analytics Market forward.

The combination of consumer data and advanced analytics capabilities provides retailers with actionable insights, ultimately contributing to market growth. As retailers across the GCC continue to embrace data and technology, the Component Type segment, particularly services and solutions, will undoubtedly remain a fundamental part of shaping the future of the retail landscape in the region.

The evolving consumer preferences in the GCC, characterized by a preference for personalized shopping experiences and instant gratification, drive the necessity for effective retail analytics. This dynamic landscape requires retailers to adapt and innovate continually, making reliable services and cutting-edge solutions indispensable in gaining a competitive advantage.

Additionally, the region's increasing connectivity and smartphone penetration enhance the ability for real-time data collection and analytics, further cementing the importance of this segment in shaping strategic retail decisions.

Overall, as the GCC Retail Analytics Market progresses, the Component Type segment is poised to be at the forefront of transforming retail practices, addressing challenges, and exploring new growth avenues.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Retail Analytics Market Organization Size Insights

The GCC Retail Analytics Market presents a nuanced landscape segmented by Organization Size, distinguishing between large enterprises and small and medium enterprises. Large enterprises continuously leverage advanced analytics for better decision-making, driven by robust infrastructure and significant data resources.

Their scale allows for comprehensive data analysis, fostering enhanced customer experiences and operational efficiencies. Conversely, small and medium enterprises are increasingly adopting retail analytics to remain competitive in their niche markets, focusing on optimizing marketing strategies and sales processes.

These organizations often face challenges related to resource allocation but stand to gain substantial advantages from tailored analytics solutions. As the demand for data-driven insights rises in the GCC region, both types of organizations are witnessing opportunities for growth and innovation.

The overall focus in this segment highlights the importance of analytics in fostering informed strategic planning and driving market growth, thereby ensuring organizations can adapt to rapidly evolving consumer preferences and market dynamics.

The market dynamics emphasize that while large enterprises may dominate in scale, small and medium enterprises are crucial for fostering diversity and competition within the GCC retail landscape.

GCC Retail Analytics Market Key Players and Competitive Insights

The GCC Retail Analytics Market has witnessed significant growth and transformation in recent years, driven by the increasing demand for data-driven insights among retailers across the region.

This competitive landscape is characterized by both the emergence of local players and the strong presence of international giants, as companies seek to leverage technology to enhance customer experiences, optimize operations, and improve decision-making processes.

Retailers are increasingly adopting advanced analytics tools to gain insights into consumer behavior, inventory management, and market trends. The market, which includes solutions such as predictive analytics, customer analytics, and sales forecasting, is becoming essential for retailers striving to maintain a competitive edge in an ever-evolving landscape.

Additionally, innovations in artificial intelligence and machine learning are shaping the way retail analytics is approached, reinforcing the importance of effective competition among firms in the sector.

Microsoft has established a robust presence within the GCC Retail Analytics Market, capitalizing on its extensive suite of services and solutions tailored for retail operations. The company’s strengths lie in its ability to deliver comprehensive cloud-based analytics solutions that facilitate the integration of various data sources, allowing retailers to derive actionable insights.

Microsoft’s offerings, including Azure analytics, Power BI, and Dynamics 365, are designed to improve operational efficiency and provide valuable customer insights, which are crucial for retail success in the GCC region.

Furthermore, the company's commitment to building strategic partnerships within the region enables it to enhance its market reach and bolster its competitive positioning, further solidifying its role as a key player in the GCC retail analytics landscape.

SAS has a notable presence in the GCC Retail Analytics Market, recognized for its advanced analytics capabilities and a strong suite of products that cater specifically to the retail sector. The company offers a range of solutions, including customer intelligence, merchandizing optimization, and supply chain analytics, all aimed at enabling retailers to make informed decisions based on data insights.

SAS's strengths in the GCC market are reinforced by its focus on innovation and continuous improvement, often characterized by strategic mergers and acquisitions that help enhance its technological capabilities.

The company has established partnerships with regional retailers to implement bespoke analytics solutions that address specific market needs. Additionally, SAS’s robust training and support services ensure that companies can effectively utilize its analytics tools, translating data into actionable strategies tailored for the unique dynamics of the GCC retail environment.

Key Companies in the GCC Retail Analytics Market Include

• Microsoft


• SAS


• Stibo Systems


• IBM


• Salesforce


• Oracle


• Teradata


• SAP


• Zoho


• Qlik


• Domo


• TIBCO Software


• Tableau


• Google


• MicroStrategy

GCC Retail Analytics Market Developments

The GCC Retail Analytics Market has seen notable developments in 2023, particularly with the increasing adoption of advanced analytics solutions by retailers aiming to enhance customer experience and operational efficiency. Microsoft has been actively expanding its cloud services, positioning itself as a key player in the regional market.

SAS has launched new analytics tools tailored for retail, emphasizing the incorporation of artificial intelligence. Meanwhile, IBM's partnership with local entities has strengthened its market presence, focusing on data-driven decision-making.

In terms of mergers and acquisitions, in June 2023, Salesforce announced its acquisition of a regional analytics firm to bolster its offerings in the GCC, reflecting the industry's consolidation trend.

The regional market has been witnessing significant growth, with some estimates predicting a valuation increase of over 15% from 2021 to 2026, driven primarily by the digitization of retail and the need for businesses to leverage data insights.

Over the past two to three years, various companies, including Oracle and SAP, have also made substantial investments in local startups, further enhancing the analytics landscape in the GCC.

GCC Retail Analytics Market Segmentation Insights

Retail Analytics Market Component Type Outlook

• services


• solutions

Retail Analytics Market Organization Size Outlook

• large enterprises


• small and medium enterprises

 

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	59.78(USD Million)
MARKET SIZE 2024	68.6(USD Million)
MARKET SIZE 2035	351.32(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)	16.008% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Million
KEY COMPANIES PROFILED	Microsoft, SAS, Stibo Systems, IBM, Salesforce, Oracle, Teradata, SAP, Zoho, Qlik, Domo, TIBCO Software, Tableau, Google, MicroStrategy
SEGMENTS COVERED	Component Type, Organization Size
KEY MARKET OPPORTUNITIES	Omni-channel retail strategies, Enhanced customer personalization, Real-time inventory management, Demand forecasting capabilities, Integration with AI technologies
KEY MARKET DYNAMICS	Data-driven decision making, Increasing consumer insights, Rising e-commerce growth, Need for personalized marketing, Advanced analytics adoption
COUNTRIES COVERED	GCC