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Artificial Intelligence (AI) in Retail Market Expected to Grow at CAGR 36.2% and Forecast to 2025

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.

Global 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.

Scope of Global Artificial Intelligence (AI) in Retail Market Report–

Artificial Intelligence, or simply AI, is the title used to describe a machine’s ability to reproduce human intelligence. 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. It is the field developing computers and robots capable of parsing data contextually to provide requested information, supply analysis, or trigger events based on findings. Approaches like machine learning and neural networks, companies globally are investing in teaching machines to ‘think’ more like humans. AI technologies allow retailers to assemble, rework and standardize data, automatically enter it into spreadsheets, and transform it into logical visuals such as charts and graphs. 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.

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Global artificial intelligence (AI) in retail market report is segmented on the basis of component, technology, application and region & country level. Based on component, global artificial intelligence (AI) in retail market is classified as solution and services. Based on technology, global artificial intelligence (AI) in retail market is classified as machine learning and deep learning, natural language processing, computer vision and others. Based upon application, global artificial intelligence (AI) in retail market is classified into automated merchandising, programming advertising, market forecasting, in store AI and location optimization, data science and other.

The regions covered in this Global Artificial Intelligence (AI) in Retail Marketreport are, North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. On the basis of country level, the market of Global Artificial Intelligence (AI) in Retail Market Software  is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

Key Players for Global Artificial Intelligence (AI) in Retail Market Report-

Some major key players for global Artificial Intelligence (AI) in Retail Market are AWS, Baidu, BloomReach, Cognitive Scale, Google, Inbenta Technologies, Intel, Interactions, Lexalytics, Microsoft, NEXT IT., NVidia, Oracle, RetailNext, Salesforce.com. SAP, Sentient Technologies, Visenze, Caper and others.

News-

Caper Cuts Queues with a Smart Shopping Trolley.

January 2019; New York based start-up company Caper’s self-checkout shopping trolley uses a built-in barcode scanner and payment portal to enhance the shopping experience and reduce checkout queues. In response to the growth of autonomous retail, Caper is arranged its AI-powered shopping trolley as an extensible, easy to use, less expensive solution to installing cameras and sensors in grocery stores. Its desegregated screen enables shoppers to scan their items as they go, locate products around a store and explore special offers. They can also pay directly on the trolley. With a number of carts already live in two grocery stores in New York, Caper plans to roll out to 150 more locations in 2019.

Global Artificial Intelligence (AI) in Retail Market Dynamics –

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. Growing adoption of AI technology between retailers for multi-channel marketing can be viewed as a trend in the market. Increasing adoption of computer vision-based cameras and robots to track & manage store inventories are also supplementing the market growth. Retailers are leveraging computer vision for several in-store applications to compete with other players. Computer vision is gaining popularity among offline retailers for shelf scanning, facial recognition, and footfall traffic & interactions analysis. The large volume of data generated on the basis of in-store consumer behavior, e-mail marketing, and campaign management, when analyzed, helps to identify consumption patterns and develop personalized campaigns, thus facilitating better decision making.

However, It’s hard to conceptualize that a computer could be wrong but it may happen because of wrong Algorithms and mathematically or imitatively they might always be “right” but humans encompass much more than simply formulas and statistics. Humans being are unique and have many varieties of tastes and preferences that cannot be dumbed down to a formula. The immense thing that makes us human is the fact that we are constantly changing and growing, and there are always outliers. 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. AI-based chabot technology is widely being integrated by retail companies into their work processes. The growing number of shopping channels, such as websites, physical retail stores, and mobile applications, have compelled retailers to employ AI technologies across these platforms to capture a larger customer base. This increased use of AI to monitor and analyze data is, revolutionizing the retail industry, globally.

Global Artificial Intelligence (AI) in Retail Market Regional Analysis–

The global artificial intelligence (AI) in retail market Software Market is segmented into North America, Europe, Asia-Pacific, Latin America and Africa. North America is expected to dominate the global artificial intelligence (AI) in retail market with the largest market share mainly because of the presence of several developed economies, such as the United States and Canada, focusing on strengthening the existing solutions in the retail space. North America hosts the primary AI solution providers and is an early adopter of AI technology. Many retailers in this region have established AI-based solutions to optimize their supply chain operations and inventory. AI is serving the retailers in managing and maintaining their customers and understanding the buying patterns of the consumers. To attract customers and enhance sales turnover, AI technologies are being adopted by both online and offline retail businesses in this region.

Key Benefits for Global Artificial Intelligence (AI) in Retail Market Report–

Global Artificial Intelligence (AI) in Retail Market report covers in-depth historical and forecast analysis.

Global Artificial Intelligence (AI) in Retail Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.

Global Artificial Intelligence (AI) in Retail Market report helps to identify opportunities in marketplace.

Global Artificial Intelligence (AI) in Retail Market report covers extensive analysis of emerging trends and competitive landscape.

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Global Artificial Intelligence (AI) in Retail Market Segmentation:

By Component:
Solution
Chatbot
Customer Behavior Tracking
CRM
Inventory Management
Price Optimization
Recommendation Engine
Supply Chain Management
Visual Search
Others
Service
Professional Service
Managed Service

By Technology:
Machine Learning and Deep learning
Natural Language Processing
Computer Vision
Others

By Application:
Automated Merchandising
Programming Advertising
Market Forecasting
In store AI and Location Optimization
Data Science
Other

By Regional & Country Analysis:
North America
U.S.
Canada
Europe
U.K.
France
Germany
Italy
Asia Pacific
Australia and New Zealand
Japan
China
Rest of APAC
Latin America
Brazil
Mexico
Middle East and Africa
GCC
South Africa
Rest of MEA

Table of Content

1. Chapter – Report Methodology
1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP’s of Report
1.8. Report Description

2. Chapter – Global Artificial Intelligence (AI) in Retail Market Overview: Qualitative Analysis
2.1. Market Introduction
2.2. Executive Summary
2.3. Global Artificial Intelligence (AI) in Retail Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Artificial Intelligence (AI) in Retail Market: Trends
2.8. Porter’s Five Forces Analysis
2.8.1. Bargaining Power of Suppliers
2.8.2. Bargaining Power of Consumers
2.8.3. Threat of New Entrants
2.8.4. Threat of Substitute Product and Services
2.8.5. Competitive Rivalry within the Industry
2.9. Market Attractiveness Analysis
2.9.1. Market Attractiveness Analysis by Segmentation
2.9.2. Market Attractiveness Analysis by Region

3. Chapter – Global Artificial Intelligence (AI) in Retail Market Overview: Quantitative Analysis

4. Chapter – Global Artificial Intelligence (AI) in Retail Market Analysis: By Product

5. Chapter – Global Artificial Intelligence (AI) in Retail Market Analysis: By Deployment

6. Chapter – Global Artificial Intelligence (AI) in Retail Market Analysis: By Vehicle Type

7. Chapter – Global Artificial Intelligence (AI) in Retail Market Analysis: By Manufacturer

8. Chapter –Artificial Intelligence (AI) in Retail Market: Regional Analysis

9. Chapter – Company Profiles
9.1. Google Inc.
9.1.1. Financials
9.1.2. Product portfolio
9.1.3. Artificial Intelligence (AI) in Retail Market Revenue (USD Million) and Market Share (%), 2014 – 2018
9.1.4. Artificial Intelligence (AI) in Retail Sales Market Share (%), 2014 – 2018
9.1.5. Business strategy
9.1.6. Recent developments
9.2. Google Inc.
9.3. Microsoft Corporation
9.4. IBM Corporation
9.5. Amazon Web Services
9.6. Salesforce
9.7. Inbenta Technologies Inc.
9.8. Lex alytics Inc.
9.9. Interactions LLC
9.10. Retail Next Inc.
9.11. Sentinent Technologies
9.12. Others

Continued…………..  

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