The report provides a unique tool for evaluating the Market, highlighting opportunities, and supporting strategic and tactical decision-making. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date marketing information is essential to monitor performance and make critical decisions for growth and profitability. It provides information on trends and developments, and focuses on markets capacities and on the changing structure of the Artificial Intelligence in Retail.
The Artificial Intelligence in Retail market is expected to grow from US$ 712.6 million in 2016 to US$ 27,238.6 million by 2025 at a CAGR of 51.2% between 2017 and 2025.
Top Leading Companies are: IBM,Microsoft,Nvidia,Amazon Web Services,Oracle,SAP,Intel,Google,Sentient Technologies,Salesforce,Visenze
The growth in market revenue is attributed to proliferating adoption of game changing technologies, growth in mobile market and emergence of various AI based start-ups catering to retail industry. Proliferation of enhanced technological awareness and varied product choices among the consumers have resulted into a noteworthy shift in global retail industry landscape. This has further foisted pressure on the traditional retailers to reimagine the strategies for creating and capturing value in order to explore the optimal usage of their assets.
Based on solution, the AI in retail market is classified into chatbot, CRM, price optimization, recommendation engine, SCM, visual search, and others. Among these, recommendation engine accounted for largest share in the market during the historical period. This can be ascribed to the increased use of AI-driven recommendation engines by online retail companies, such as Amazon.com Inc. and eBay Inc., for the personalized marketing of products based on customers’ past purchases. Also, with the growing focus on digital marketing in North America and APAC, the demand for recommendation engines is expected to increase, further driving the market in this category.
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Global Artificial Intelligence in Retail Market Split by Product Type and Applications:
Artificial Intelligence in Retail Market, by Types:
Cloud
On-Premises
Artificial Intelligence in Retail Market, by Applications:
Predictive Merchandising
Programmatic Advertising
Market Forecasting
In-Store Visual Monitoring and Surveillance
Location-Based Marketing
Others
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Regional Analysis For Artificial Intelligence in Retail Market:
North America (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.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
On the basis of technology, the AI in retail market is categorized into machine learning, NLP, computer vision, and others. Of these, machine learning held the largest market share in 2018. Besides, it is expected to be fastest-growing category in the market, during the forecast period. This can be attributed to the increasing use of machine learning technology by online retailers to offer personalized services and enhance customer experience. The technology has witnessed increased adoption across the globe in recent years, particularly in the U.S. and China.
North America led the AI in retail market in 2018, in terms of revenue generation, on account of the increased deployment of AI, including machine learning and NLP technologies, by online as well as brick-and-mortar retail stores. Organizations such as Amazon.com Inc. and Walmart Inc. are increasingly using these technologies to understand consumer behavior and enhance the overall shopping experience. For instance, in 2018, Amazon.com Inc. opened Amazon Go convenience stores in San Francisco that deploy computer vision and other AI-assisted technologies to monitor the items that are taken off the store shelves. With this technology, the company aims to improve the shopping experience of its customers and reduce the billing and checkout time.
The report will make detailed analysis mainly on the development environment, Market size, development trends, operation situation and future development trends of Artificial Intelligence in Retail Market on the basis of current situation of the industry in 2018 so as to make full comprehension and judgment on the competitive situation of Artificial Intelligence in Retail Market Carrier and assist manufacturers and investment organization to better grasp the development course of Artificial Intelligence in Retail Market.
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The Reports Help Answer the Following Questions:
- What will be the market size and the growth rate in 2025?
- What are the key factors driving the Artificial Intelligence in Retail Market?
- Who are the key market players and what are their strategies in the Artificial Intelligence in Retail Market?
- What are the key market trends impacting the growth of the Artificial Intelligence in Retail Market?
- What trends, challenges and barriers are influencing its growth?
- What are the market opportunities and threats faced by the vendors in the Artificial Intelligence in Retail Market?
- What are the key outcomes of the five forces analysis of the Global Artificial Intelligence in Retail Market?
The research includes historic data from 2015 to 2019 and forecasts until 2025 which makes the report an invaluable resource for company executives, marketing executive, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Artificial Intelligence in Retail Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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