According to the research report titled ‘Global Real Time Store Monitoring Platform Market Size study, by Component (Software, Services, Support and Maintenance, Consulting) by Application (Customer Management, Marketing Management, Merchandising Analysis, Store Operations Management, Risk and Compliance Management, Others (Quality Management, and BI and reporting)) by Deployment Model (On-premises, Cloud) by Organisation Size (SMEs, Large Enterprises) and Regional Forecasts 2021-2027’, available with Market Study Report, global real time store monitoring platform market  is expected to register 17.7% CAGR through 2027.
 

Increasing trend of online shopping, rising preference towards modern technology for reducing manpower and time consumption, and rapid digitalization for enhanced customer experience are catalyzing the growth of global real time store monitoring platform market.
 

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Notably, enterprise software developer SAP SE partnered with Dynatrace Inc. in November 2020, which allowed SAP Commerce Cloud customers to access digital experience monitoring capabilities provided by Dynatrace. Thus, adoption of new technologies in the retail sector for storing customer data is propelling the industry expansion.
 

For the unversed, real time store monitoring platform enables retailers to gain meaningful insights pertaining to analysis of data on  customer preferences, demographic attributes, and purchasing patterns through multiple technologies. Such in-store performance analysis helps retailers to optimize their business functioning in various areas including increased sales conversion, staff optimization, and targeted promotions.
 

Despite the positive outlook, low service penetration in the unorganized retail sector, coupled with concerns regarding loss of data are likely to hamper worldwide real time store monitoring platform market growth over the projected duration.
 

From a regional point of view, Latin America, Europe, North America, and Asia Pacific are major contributors to market remuneration. Among these, North America market is slated to accumulate momentous gains, with the U.S. accounting for an estimated 78.4% revenueshare over the assessment period. This can be credited to increasing number of cashless stores throughout the region, and proliferating influence of technology in the retail sector.
 

Leading companies in global real time store monitoring platform market include Retail Solutions Inc., Capillary Technologies, RetailNext Inc., Inpixon®, Happiest Minds Technologies Ltd., Mindtree Ltd., Scanalytics Inc., SAP SE, Thinkinside S.r.l, and Celect Inc. among others.