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U.S. Retail Service Market – Industry Trends and Forecast to 2031

ICT | Published Report | May 2024 | Country Level | 350 Pages | No of Tables: 11 | No of Figures: 25

Report Description

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.


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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 an​​​​​​​d 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.


SKU-

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 (%)

View Infographics

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 (%)

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