Acknowledging the kind of traction gained by this market, recently published a study report asserts the global Artificial Intelligence in Retail Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of around 38.3% during the review period (2022 to 2027).
Artificial Intelligence in Retail Market Overview
Based on type, the market is bifurcated into online and offline. Offline captures maximum revenue share and is expected to maintain its dominance during the forecast period. The demand for the technology is growing owing to its capabilities such as managing in-store operation, enhancing merchandising & assortment, automated personalized product recommendations, among others, to enhance customer shopping experiences. Online is expected to gain rapid growth owing to the increasingly virtual and online shopping. The retailers are improving their online customer serving capabilities by implementing artificial intelligence technology. For instance, ViSenze offers a wide range of intelligent e-commerce solutions such as cross-device experience, smart recommendations, discovery and inspiring SEO marketing.
Who are the Major Players in Artificial Intelligence in Retail Market?
Top Key players in the Artificial Intelligence in Retail Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The companies referred in the market research report includes IBM, Microsoft, Nvidia, Amazon Web Services, Oracle, SAP, Intel, Google, Sentient Technologies, Salesforce, Visenze
Industry News:
IBM Brings Artificial Intelligence At Scale To The Marketing And Media Industry
NEW YORK, Oct. 5, 2020 -IBM (NYSE: IBM) today announced three new products to add to its growing suite of AI solutions for brand and publishers. The new capabilities are privacy-forward and designed to allow brands to reach consumers while considering user privacy. IBM intends to work with industry leaders, including Xandr/AT&T, Magnite, Nielsen, MediaMath, LiveRamp and Beeswax to help scale the use of AI across the industry. The announcement was made this morning at Advertising Week's digital-first virtual event #AW2020.
What are the major Applications, Types and Regions for Artificial Intelligence in Retail Market?
By Type, it is segmented into
- By Applications
- Predictive Merchandising
- Programmatic Advertising
- Market Forecasting
- In-Store Visual Monitoring and Surveillance
- Location-Based Marketing
- Others
Artificial Intelligence in Retail Market Regional Analysis
North America dominates the global revenue share. The retailers in the region are focusing on extracting the available data on customers’ preferences to boost customer service efficiency. The United States is an early adopter of AI technology and is witnessing high technology investment in AI. The country is also witnessing new startups and small enterprises emerging due to the rising demand for technology. This is expected to boost artificial intelligence (AI) in retail industry growth.
All these factors greatly affect the Artificial Intelligence in Retail Market growth. It further aims at providing complete overview on detailed assessment of significant features of different industries including sales volume, market revenue, and demand size, sales growth, pricing analysis and changing market growth factors in regions such as Follows,
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
The Artificial Intelligence in Retail Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Artificial Intelligence in Retail Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Artificial Intelligence in Retail Market report scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2028 CAGR
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- CAGR of 38.3 % during the review period (2022 to 2027).
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By Type
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By Applications
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- Predictive Merchandising
- Programmatic Advertising
- Market Forecasting
- In-Store Visual Monitoring and Surveillance
- Location-Based Marketing
- Others
- Others
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By Companies
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IBM, Microsoft, Nvidia, Amazon Web Services, Oracle, SAP, Intel, Google, Sentient Technologies, Salesforce, Visenze
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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110
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Healthcare IT Report
- Evaluate Artificial Intelligence in Retail Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Artificial Intelligence in Retail Market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
Frequently Asked Questions
What is the study period of this market?
The Artificial Intelligence in Retail Market is studied from 2017 - 2027.
What is the growth rate of Artificial Intelligence in Retail Market?
The Artificial Intelligence in Retail Market is growing at a CAGR of 38.3% over the next 5 years.
Who are the key players in Artificial Intelligence in Retail Market?
IBM, Microsoft, Nvidia, Amazon Web Services, Oracle, SAP, Intel, Google, Sentient Technologies, Salesforce, Visenze
What region does this Artificial Intelligence in Retail Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Artificial Intelligence in Retail Market?
- Cloud, On-Premises, Others
What are the major Applications of Artificial Intelligence in Retail Market?
Predictive Merchandising, Programmatic Advertising, Market Forecasting, In-Store Visual Monitoring and Surveillance, Location-Based Marketing, Others
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
