U.S. Retail Service Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2024 –2031 |
 Market Size (Base Year) |
USD 14.17 Billion |
 Market Size (Forecast Year) |
28.83 Billion |
 CAGR |
% |
| Major Markets Players |
U.S. Retail Service Market, By Services (Consulting & Training, Installation & Integration, and Support & Maintenance), Application (Grocery, General Merchandise, Fashion/Specialty, Fuel & Convenience, Hospitality, Restaurant, Travel, Entertainment, and Others) - Industry Trends and Forecast to 2031.
U.S. Retail Service Market Analysis and Size
The U.S. retail service market is driven by several factors including increased demand for automation and efficiency, a growing shift towards cashless payments, and a notable labor shortage. However, rising security concerns regarding digital payments and the high initial investment coupled with hidden costs pose significant restraints to market growth. Nonetheless, the market presents opportunities driven by surging technological advancements, enabling data-driven optimization and omni-channel integration. Despite these opportunities, challenges persist, such as difficulties in handling certain items and customer resistance to self-checkout processes, requiring innovative solutions to address them effectively.
Data Bridge Market Research analyzes that the U.S. retail service market is expected to reach a value of USD 28.83 billion by 2031 from USD 14.17 billion in 2023, at a CAGR of 9.6% during the forecast period of 2024 to 2031.
|
Report Metric |
Details |
|
Forecast Period |
2024 to 2031 |
|
Base Year |
2023 |
|
Historic Years |
2022 (Customizable to 2016–2021) |
|
Quantitative Units |
Revenue in USD Billion |
|
Segments Covered |
Services (Consulting & Training, Installation & Integration, and Support & Maintenance), Application (Grocery, General Merchandise, Fashion/Specialty, Fuel & Convenience, Hospitality, Restaurant, Travel, Entertainment, and Others) |
|
Market Players Covered |
NCR Voyix Corporation, HCL Technologies Limited, ExlService Holdings, Inc., Wipro, Aspire Systems, Fujitsu, Infosys Limited, CGI Inc., Diebold Nixdorf, Incorporated, Oracle, Retail Services Group, Accenture, and Deloitte among others |
Market Definition
The U.S. retail service market encompasses a broad array of offerings tailored to meet the diverse needs of retail businesses across the nation. This market includes consulting and training services aimed at enhancing operational efficiency, customer experience, and strategic decision-making within retail enterprises. In addition, installation and integration services play a pivotal role in implementing advanced technologies, such as point-of-sale systems, inventory management software, and customer relationship management solutions, seamlessly into retail operations. Complementing these are support and maintenance services, vital for ensuring the continuous functionality and optimal performance of retail systems and technologies, thereby enabling businesses to adapt to developing market demands and maintain a competitive edge. Together, these components form an integral part of the U.S. retail service market, catering to the multifaceted needs of retailers in an ever-evolving business landscape.
U.S. Retail Service Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Driver
- Rapid Technological Advancements
AI, and IoT to enhance customer experiences and optimize operations the demand for retail services continues to grow. Service providers specializing in consulting & training, and installation & integration play a pivotal role in helping retailers navigate the complexities of technological innovation and unlock the full potential of advanced retail solutions, hence drive U.S. retail service market growth
Restraint
- Government Rules and Regulations
Government restrictions have impacted American free enterprise, especially burdening small enterprises, according to the U.S. Chamber of Commerce. Estimates place the yearly costs of federal regulations at as high as USD 1.9 trillion, including direct expenditures, lost productivity, and higher pricing.
Opportunity
-
Emergence of Smart Retail Solutions
Service providers may profit from the increasing demand for cutting-edge technology that improve the shopping experience, increase operational efficiency, and boost corporate growth by providing integration services and retailer-specific consulting. By utilizing their experience and implementing a strategic approach, service providers may establish themselves as reliable allies in the advancement of intelligent retail. Thus, in the US retail service sector, the rise of smart retail solutions offers service providers some strong opportunities.
Challenge
- Shortage of Skilled Labor and Workforce Management
As the retail landscape continues to evolve with technological advancements and changing consumer preferences, retailers are increasingly reliant on a skilled workforce to drive innovation, enhance customer experiences, and optimize operations. However, the shortage of skilled labor, coupled with workforce management challenges, poses a threat to the growth and sustainability of the retail service market.
Recent Developments
- In April 2024, Board and CGI deepen their North America partnership, merging CGI's consulting with Board's AI-driven planning software for financial and operational transformation. CGI gains improved retail service delivery with Board's innovative solutions, focusing on supply chain optimization and merchandise planning, enhancing operational efficiency
- In April 2023, Infosys Limited partners with Walmart Commerce Technologies to enhance retail service capabilities, simplifying customer experiences and improving store employee efficiency through seamless omnichannel experiences. This strengthens Infosys' position as a leader in retail technology solutions
U.S. Retail Service Market Scope
The U.S. retail service market is segmented into two notable segments which are on the basis of services and application.
Services
- Consulting & Training
- Installation & Integration
- Support & Maintenance
On the basis of services, the U.S. retail service market is segmented into consulting & training, installation & integration, and support & maintenance.
Application
- Grocery
- General Merchandise
- Fashion/Specialty
- Fuel & Convenience
- Hospitality
- Restaurant
- Travel
- Entertainment
- Others
On the basis of application, the U.S. retail service market is segmented into grocery, general merchandise, fashion/specialty, fuel & convenience, hospitality, restaurant, travel, entertainment, and others.
Competitive Landscape and U.S. Retail Service Market Share Analysis
The U.S. retail service market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product approvals, product width and breadth, application dominance, and product type lifeline curve. The above data points provided are only related to the company’s focus on the U.S. retail service market.
Some of the major players operating in the market are NCR Voyix Corporation, HCL Technologies Limited, ExlService Holdings, Inc., Wipro, Aspire Systems, Fujitsu, Infosys Limited, CGI Inc., Diebold Nixdorf, Incorporated, Oracle, Retail Services Group, Accenture, and Deloitte among others.
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Table of Content
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 OVERVIEW OF U.S. RETAIL SERVICE MARKET
1.4 CURRENCY AND PRICING
1.5 LIMITATIONS
1.6 MARKETS COVERED
2 MARKET SEGMENTATION
2.1 MARKETS COVERED
2.2 GEOGRAPHICAL SCOPE
2.3 YEARS CONSIDERED FOR THE STUDY
2.4 DBMR TRIPOD DATA VALIDATION MODEL
2.5 MULTIVARIATE MODELLING
2.6 SERVICE TIMELINE CURVE
2.7 MARKET APPLICATION COVERAGE GRID
2.8 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS
2.9 DBMR MARKET POSITION GRID
2.1 SECONDARY SOURCES
2.11 ASSUMPTIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 U.S. RETAIL SERVICE MARKET, COMPANY LANDSCAPE BY APPLICATION
4.1.1 COMPANY SHARE ANALYSIS: BY GROCERY
4.1.2 COMPANY SHARE ANALYSIS: GENERAL MERCHANDISE
4.1.3 COMPANY SHARE ANALYSIS: FASHION SPECIALITY
4.1.4 COMPANY SHARE ANALYSIS: FUEL & CONVENIENCE
4.1.5 COMPANY SHARE ANALYSIS: HOSPITALITY
4.1.6 COMPANY SHARE ANALYSIS: TRAVEL
4.1.7 COMPANY SHARE ANALYSIS: ENTERTAINMENT
4.1.8 COMPANY SHARE ANALYSIS: RESTRURANT
5 MARKET OVERVIEW
5.1 DRIVERS
5.1.1 RAPID TECHNOLOGICAL ADVANCEMENTS
5.1.2 INCREASING COMPLEXITY OF RETAIL OPERATIONS
5.1.3 GROWING FOCUS ON CUSTOMER EXPERIENCE
5.1.4 TRANSFORMATION TOWARDS DATA-DRIVEN DECISION MAKING
5.2 RESTRAINTS
5.2.1 HIGH COST RESTRAINT FOR SMBS
5.2.2 GOVERNMENT RULES AND REGULATIONS
5.3 OPPORTUNITIES
5.3.1 EXPANSION OF E-COMMERCE
5.3.2 EMERGENCE OF SMART RETAIL SOLUTIONS
5.4 CHALLENGES
5.4.1 SHORTAGE OF SKILLED LABOUR AND WORKFORCE MANAGEMENT
6 U.S. RETAIL SERVICE MARKET, BY SERVICES
6.1 OVERVIEW
6.2 CONSULTING & TRAINING
6.3 INSTALLATION & INTEGRATION
6.4 SUPPORT & MAINTENANCE
7 U.S. RETAIL SERVICE MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 GROCERY
7.2.1 CONSULTING & TRAINING
7.2.2 INSTALLATION & INTEGRATION
7.2.3 SUPPORT & MAINTENANCE
7.3 GENERAL MERCHANDISE
7.3.1 CONSULTING & TRAINING
7.3.2 INSTALLATION & INTEGRATION
7.3.3 SUPPORT & MAINTENANCE
7.4 FASHION/SPECIALTY
7.4.1 CONSULTING & TRAINING
7.4.2 INSTALLATION & INTEGRATION
7.4.3 SUPPORT & MAINTENANCE
7.5 FUEL & CONVENIENCE
7.5.1 CONSULTING & TRAINING
7.5.2 INSTALLATION & INTEGRATION
7.5.3 SUPPORT & MAINTENANCE
7.6 HOSPITALITY
7.6.1 CONSULTING & TRAINING
7.6.2 INSTALLATION & INTEGRATION
7.6.3 SUPPORT & MAINTENANCE
7.7 RESTAURANT
7.7.1 CONSULTING & TRAINING
7.7.2 INSTALLATION & INTEGRATION
7.7.3 SUPPORT & MAINTENANCE
7.8 TRAVEL
7.8.1 CONSULTING & TRAINING
7.8.2 INSTALLATION & INTEGRATION
7.8.3 SUPPORT & MAINTENANCE
7.9 ENTERTAINMENT
7.9.1 CONSULTING & TRAINING
7.9.2 INSTALLATION & INTEGRATION
7.9.3 SUPPORT & MAINTENANCE
7.1 OTHERS
7.10.1 CONSULTING & TRAINING
7.10.2 INSTALLATION & INTEGRATION
7.10.3 SUPPORT & MAINTENANCE
8 U.S. RETAIL SERVICE MARKET, COMPANY LANDSCAPE
8.1 COMPANY SHARE ANALYSIS: U.S.
9 SWOT ANALYSIS
10 COMPANY PROFILE
10.1 DELOITTE
10.1.1 COMPANY SNAPSHOT
10.1.2 REVENUE ANALYSIS
10.1.3 PRODUCT PORTFOLIO
10.1.4 RECENT DEVELOPMENT
10.2 HCL TECHNOLOGIES LIMITED
10.2.1 COMPANY SNAPSHOT
10.2.2 REVENUE ANALYSIS
10.2.3 SERVICE PORTFOLIO
10.2.4 RECENT DEVELOPMENTS
10.3 INFOSYS LIMITED
10.3.1 COMPANY SNAPSHOT
10.3.2 REVENUE ANALYSIS
10.3.3 SERVICE PORTFOLIO
10.3.4 RECENT DEVELOPMENTS
10.4 WIPRO
10.4.1 COMPANY SNAPSHOT
10.4.2 REVENUE ANALYSIS
10.4.3 SERVICE PORTFOLIO
10.4.4 RECENT DEVELOPMENTS
10.5 ASPIRE SYSTEMS
10.5.1 COMPANY SNAPSHOT
10.5.2 SERVICE PORTFOLIO
10.5.3 RECENT DEVELOPMENT
10.6 ACCENTURE
10.6.1 COMPANY SNAPSHOT
10.6.2 REVENUE ANALYSIS
10.6.3 SERVICE PORTFOLIO
10.6.4 RECENT DEVELOPMENTS
10.7 CGI INC.
10.7.1 COMPANY SNAPSHOT
10.7.2 REVENUE ANALYSIS
10.7.3 SERVICE PORTFOLIO
10.7.4 RECENT DEVELOPMENTS
10.8 EXLSERVICE HOLDINGS, INC.
10.8.1 COMPANY SNAPSHOT
10.8.2 REVENUE ANALYSIS
10.8.3 SERVICE PORTFOLIO
10.8.4 RECENT DEVELOPMENTS
10.9 DIEBOLD NIXDORF, INCORPORATED
10.9.1 COMPANY SNAPSHOT
10.9.2 REVENUE ANALYSIS
10.9.3 SERVICE PORTFOLIO
10.9.4 RECENT DEVELOPMENTS
10.1 FUJITSU
10.10.1 COMPANY SNAPSHOT
10.10.2 REVENUE ANALYSIS
10.10.3 PRODUCT PORTFOLIO
10.10.4 RECENT DEVELOPMENTS
10.11 ORACLE
10.11.1 COMPANY SNAPSHOT
10.11.2 REVENUE ANALYSIS
10.11.3 PRODUCT PORTFOLIO
10.11.4 RECENT DEVELOPMENTS
10.12 NCR VOYIX CORPORATION
10.12.1 COMPANY SNAPSHOT
10.12.2 REVENUE ANALYSIS
10.12.3 SERVICE PORTFOLIO
10.12.4 RECENT DEVELOPMENT
10.13 RETAIL SERVICES GROUP
10.13.1 COMPANY SNAPSHOT
10.13.2 PRODUCT PORTFOLIO
10.13.3 RECENT DEVELOPMENTS
11 QUESTIONNAIRE
12 RELATED REPORTS
List of Table
TABLE 1 U.S. RETAIL SERVICE MARKET, BY SERVICES, 2022-2031 (USD MILLION)
TABLE 2 U.S. RETAIL SERVICE MARKET, BY APPLICATION, 2022-2031 (USD MILLION)
TABLE 3 U.S. GROCERY IN RETAIL SERVICE MARKET, BY SERVICE, 2022-2031 (USD MILLION)
TABLE 4 U.S. GENERAL MERCHANDISE IN RETAIL SERVICE MARKET, BY SERVICE, 2022-2031 (USD MILLION)
TABLE 5 U.S. FASHION/SPECIALTY IN RETAIL SERVICE MARKET, BY SERVICE, 2022-2031 (USD MILLION)
TABLE 6 U.S. FUEL AND CONVENIENCE IN RETAIL SERVICE MARKET, BY SERVICE, 2022-2031 (USD MILLION)
TABLE 7 U.S. HOSPITALITY IN RETAIL SERVICE MARKET, BY SERVICE, 2022-2031 (USD MILLION)
TABLE 8 U.S. RESTAURANT IN RETAIL SERVICE MARKET, BY SERVICE, 2022-2031 (USD MILLION)
TABLE 9 U.S. TRAVEL IN RETAIL SERVICE MARKET, BY SERVICE, 2022-2031 (USD MILLION)
TABLE 10 U.S. ENTERTAINMENT IN RETAIL SERVICE MARKET, BY SERVICE, 2022-2031 (USD MILLION)
TABLE 11 U.S. OTHERS IN RETAIL SERVICE MARKET, BY SERVICE, 2022-2031 (USD MILLION)
List of Figure
FIGURE 1 U.S. RETAIL SERVICE MARKET: SEGMENTATION
FIGURE 2 U.S. RETAIL SERVICE MARKET: DATA TRIANGULATION
FIGURE 3 U.S. RETAIL SERVICE MARKET: DROC ANALYSIS
FIGURE 4 U.S. RETAIL SERVICE MARKET: REGIONAL VS COUNTRY ANALYSIS
FIGURE 5 U.S. RETAIL SERVICE MARKET: COMPANY RESEARCH ANALYSIS
FIGURE 6 U.S. RETAIL SERVICE MARKET: MULTIVARIATE MODELLING
FIGURE 7 U.S. RETAIL SERVICE MARKET: SERVICE TIMELINE CURVE
FIGURE 8 U.S. RETAIL SERVICE MARKET: MARKET APPLICATION COVERAGE GRID
FIGURE 9 U.S. RETAIL SERVICE MARKET: INTERVIEW DEMOGRAPHICS
FIGURE 10 U.S. RETAIL SERVICE MARKET: DBMR MARKET POSITION GRID
FIGURE 11 U.S. RETAIL SERVICE MARKET: SEGMENTATION
FIGURE 12 INCREASING COMPLEXITY OF RETAIL OPERATIONS IS EXPECTED TO DRIVE U.S. RETAIL SERVICE MARKET IN THE FORECAST PERIOD OF 2024 TO 2031
FIGURE 13 CONSULTING & TRAINING SEGMENT IS EXPECTED TO ACCOUNT FOR THE LARGEST SHARE OF U.S. RETAIL SERVICE MARKET IN 2024 & 2031
FIGURE 14 U.S. RETAIL SERVICE MARKET: COMPANY SHARE 2023 (%)
FIGURE 15 U.S. RETAIL SERVICE MARKET: COMPANY SHARE 2023 (%)
FIGURE 16 U.S. RETAIL SERVICE MARKET: COMPANY SHARE 2023 (%)
FIGURE 17 U.S. RETAIL SERVICE MARKET: COMPANY SHARE 2023 (%)
FIGURE 18 U.S. RETAIL SERVICE MARKET: COMPANY SHARE 2023 (%)
FIGURE 19 U.S. RETAIL SERVICE MARKET: COMPANY SHARE 2023 (%)
FIGURE 20 U.S. RETAIL SERVICE MARKET: COMPANY SHARE 2023 (%)
FIGURE 21 U.S. RETAIL SERVICE MARKET: COMPANY SHARE 2023 (%)
FIGURE 22 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES OF U.S. RETAIL SERVICE MARKET
FIGURE 23 U.S. RETAIL SERVICE MARKET: BY SERVICES 2023
FIGURE 24 U.S. RETAIL SERVICE MARKET: BY APPLICATION, 2023
FIGURE 25 U.S. RETAIL SERVICE MARKET: COMPANY SHARE 2023 (%)
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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