Artificial Intelligence (AI) is used in almost every business around the world or at least in those countries where advanced technology is available. With the rise of the organized retail sector, the use of AI has to increase in this sector. The global artificial intelligence in the retail market, as published in a report by Market Research Future (MRFR), claims that this market could anticipate aggrandizement at 34% CAGR between 2017 and 2023. In terms of money, the market can be worth USD 7 Bn by the end of the forecast period.
One of the major market driving factors for the global artificial intelligence in retail market growth is the advancement in big data due to which adoption of artificial intelligence-enabled devices and services is increasing across different domains. Other important markets driving factors include the expansion of human-aware artificial intelligence systems, effective logistics & product delivery, low-cost operations, growing need for surveillance & monitoring at a brick & mortar store, high productivity, higher return on investment (RoI), improved user experience, and the growing scope of AI technologies. During the forecast period, the emergence of deep learning, machine learning (ML), and Natural Language Processing (NLP) technology are also expected to develop the AI-based solution for retail, resulting in market growth.
Regional Outlook
Regionally, the artificial intelligence in retail market has been analysed across three key regions and the Rest of the World (RoW). The three regions are; North America, Europe, and Asia Pacific.
North America is expected to hold a major share of the global artificial intelligence in retail market over the review period. Continuous technical upgradation in the region is expected to strongly surge the artificial intelligence in retail market. Europe, after North America due to the growing demand for well-organised and feasibility in both online and in-store shopping experience can escalate the growth of the European artificial intelligence in retail market. Moreover, eminent companies which are operating in the artificial intelligence in retail market is likely to surge the European artificial intelligence in retail market growth. The Asia Pacific artificial intelligence in retail market is expected to register a substantial growth in the coming year. The pragmatic shift from traditional shopping to technically advance retail experience is expected to prompt the APAC artificial intelligence in retail market expansion.
Segmental Outline
The global artificial intelligence market in retail market has been studied based on four key criteria; deployment, application, component, and technology.
Based on the application, the artificial intelligence market in retail market has been segmented into surveillance, advertising, market forecast, merchandizing, and analytics.
Based on the technology, the market artificial intelligence market in retail market has been segmented into neural networks, natural language processing, deep learning, facial recognition, and voice assistance.
Key Players
MRFR enlisted certain eminent companies which are functional in the global market artificial intelligence market in retail market. They are; Sentient Technologies (U.S.), Salesforce (U.S.), Microsoft Corporation (U.S.), Google Inc (U.S.), NVIDIA Corporation (U.S.), Amazon Web Services (U.S.), IBM Corporation (U.S.), Oracle corporation (U.S.), Intel Corporation (U.S.), SAP SE (Germany) among others.
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Artificial Intelligence (AI) In Retail MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Artificial Intelligence (AI) In Retail Market.
The growth sectors of the Artificial Intelligence (AI) In Retail Market are identified with precision for a better growth perspective.Artificial Intelligence is expected to disrupt every business and enterprises across the world.
One of the major factors that drive the growth of artificial intelligence market is the growing advancement in big data, and adoption of artificial intelligence enabled devices and services across various different domains.
The artificial intelligence in retail is used for applications like sales and customer relationship management, customer recommendations and experience, manufacturing, logistics, supply chain and delivery, payments and payment services.Key playersThe artificial intelligence is one of the most trending technologies across all industrial verticals and its wide spread applications are making the companies to adopt and implement artificial intelligence services in their particular domain.
Some of the prominent players in the artificial intelligence space in retail market include NVIDIA Corporation (U.S.), Intel Corporation (U.S.), Salesforce (U.S.), Sentient Technologies (U.S.), Microsoft Corporation (U.S.), Google Inc (U.S.), IBM Corporation (U.S.), Amazon Web Services (U.S.), Oracle corporation (U.S.), SAP SE (Germany) among others.While the competition in the market is high, many startups are also getting into the artificial intelligence market to serve the high demand marketRegional AnalysisThe integration of artificial intelligence in retail sector is start of new era in the space of advertising, analytics and customer experience.
Many retailers in this region have deployed AI-based solutions to optimize their supply chain operations and inventory.
Artificial Intelligence (AI) in Retail Market is valued at USD 658.2 Million in 2018 and expected to reach USD 5723.0 Million by 2025 with a CAGR of 36.2% over the forecast period.Global Artificial Intelligence (AI) in Retail Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025- The increasing need in retail enterprises to provide enhanced customer experience and maintain their inventory accuracy and also to improve productivity are the major factors driving the market growth.Get Sample Copy of The Activated Alumina Market Report 2020@ https://brandessenceresearch.com/requestSample/PostId/553*The sample pages of this report is immediately accessible on-demand.
** Artificial Intelligence (AI) in Retail Market Top PlayersWSBaiduBloomReachCognitive ScaleGoogleInbenta TechnologiesIntelInteractionsLexalyticsMicrosoftNEXT IT.NVidiaOracleRetailNextSalesforce.com.
Actions like learning, logic, reasoning, perception, creativity, that were once considered unique to humans, is now being replicated by technology and used in every industry.
Approaches like machine learning and neural networks, companies globally are investing in teaching machines to ‘think’ more like humans.
In turn, this helps to build efficient business plans, reduces the time on report compilations, forecasts sales figures, set-up customer profiles, and understand customers’ shopping preferences.Global artificial intelligence (AI) in retail market report is segmented on the basis of component, technology, application and region & country level.
These are some tools that act as the barrier for the growth of the global artificial intelligence (AI) in retail market.Moreover, the growing execution of AI-based chatbots is one of the growth opportunities for the players operating in the market.
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Find the complete China Artificial Intelligence(AI) in Retail Market analysis segmented by companies, region, type and applications in the report.The report offers valuable insight into the China Artificial Intelligence(AI) in Retail market progress and approaches related to the China Artificial Intelligence(AI) in Retail market with an analysis of each region.
The report goes on to talk about the dominant aspects of the market and examine each segment.Top Manufacturer’s/ Keyplayers in the Global China Artificial Intelligence(AI) in Retail Market: IBM, Microsoft, Nvidia, Amazon Web Services, Oracle, SAP, Intel, Google, Sentient Technologies, Salesforce, and VisenzeClick Here To Access The Sample China Artificial Intelligence(AI) in Retail Market ReportResearch MethodologyThe various research methodologies such as the Primary research mechanism and secondary research mechanism are considered in the China Artificial Intelligence(AI) in Retail market report.
The data that is collected in the market report is provided through these research mechanisms.
The tools such as Porter’s Five Force model is used to perform a quantitative and qualitative analysis of the China Artificial Intelligence(AI) in Retail market.
The various historical data along with the future aspects are analyzed to provide information about the overall market size of the China Artificial Intelligence(AI) in Retail market at various levels.Research objectives:To study and analyze the global China Artificial Intelligence(AI) in Retail market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2027.To understand the structure of China Artificial Intelligence(AI) in Retail market by identifying its various sub segments.Focuses on the key global China Artificial Intelligence(AI) in Retail players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the China Artificial Intelligence(AI) in Retail with respect to individual growth trends, future prospects, and their contribution to the total market.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).To project the size of China Artificial Intelligence(AI) in Retail submarkets, with respect to key regions (along with their respective key countries).To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.To strategically profile the key players and comprehensively analyze their growth strategies.The report lists the major players in the regions and their respective market share on the basis of global revenue.
