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Market Snapshot

CAGR:8.17

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	8.17

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Report Overview

The Artificial Intelligence in Retail Market is projected to grow at a CAGR of 23.81% between 2022 and 2032. The market size is forecast to increase by USD 15,784.29 million during this period. The growth of the Artificial Intelligence in Retail Market is driven by the increasing demand for personalized customer experiences, enhanced operational efficiency, and data-driven decision-making in the retail sector.

Market Overview:

Drivers:

The Artificial Intelligence in Retail Market is experiencing growth due to the changing consumer behavior, increasing competition, and the need for retailers to stay ahead in a digital landscape. AI solutions enable retailers to analyze customer preferences, optimize inventory management, and create targeted marketing campaigns.

Moreover, the adoption of AI-powered chatbots and virtual assistants in retail environments is driving market growth. These AI-driven tools enhance customer engagement, provide instant support, and improve overall shopping experiences.

Trends:

The adoption of Computer Vision and Machine Learning algorithms in retail analytics is a prominent trend in the Artificial Intelligence in Retail Market. Computer Vision technologies enable retailers to analyze customer behavior, track foot traffic, and optimize store layouts.

Furthermore, the integration of Augmented Reality (AR) and Virtual Reality (VR) experiences in retail is influencing the market. AR and VR technologies enable customers to visualize products before making purchasing decisions.

Restraints:

Challenges related to data privacy and ethical concerns can restrain market growth. Gathering and analyzing customer data raise concerns about consumer privacy and consent.

Additionally, the complexity of integrating AI solutions into existing retail operations can impact adoption. Retailers need to ensure seamless integration to avoid disruptions and optimize benefits.

Artificial Intelligence in Retail Market Segmentation by Technology:

The Machine Learning segment is expected to witness significant growth during the forecast period. Machine learning algorithms enable retailers to analyze data patterns, predict customer behavior, and optimize supply chains.

Artificial Intelligence in Retail Market Segmentation by Application:

The Customer Service and Support segment is anticipated to experience strong growth in the Artificial Intelligence in Retail Market. AI-powered chatbots and virtual assistants enhance customer interactions and support services.

Regional Overview:

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North America is expected to lead the global Artificial Intelligence in Retail Market, driven by the region's technologically advanced retail sector, early adoption of AI solutions, and focus on enhancing customer experiences.

Moreover, Asia-Pacific (APAC) is projected to experience substantial growth due to the region's expanding e-commerce market, adoption of mobile-based shopping, and investments in AI-powered retail technologies.

Artificial Intelligence in Retail Market Customer Landscape:

The report includes insights into the customer landscape, identifying retailers and businesses that extensively use AI solutions for optimizing operations and delivering personalized shopping experiences.

Major Artificial Intelligence in Retail Market Companies:

Companies in the Artificial Intelligence in Retail Market are adopting strategies such as developing AI-driven recommendation engines, implementing AI-based visual search tools, and leveraging data analytics for demand forecasting.

Sample companies in the Artificial Intelligence in Retail Market include:

IBM Corporation
Amazon Web Services, Inc.
Microsoft Corporation
Salesforce.com, Inc.
NVIDIA Corporation
Intel Corporation
SAP SE
Adobe Inc.
Baidu, Inc.
Alibaba Group Holding Limited

Segment Overview:

The Artificial Intelligence in Retail Market report provides revenue forecasts at global, regional, and country levels, analyzing trends and opportunities from 2019 to 2032.

Technology Outlook (USD Million, 2019 - 2032)

Machine Learning
Natural Language Processing (NLP)
Computer Vision
Others

Application Outlook (USD Million, 2019 - 2032)

Customer Service and Support
Inventory Management
Pricing Optimization
Demand Forecasting
Personalized Marketing
Others

Geography Outlook (USD Million, 2019 - 2032)

North America

The U.S.
Canada

Europe

U.K.
Germany
France
Rest of Europe

APAC

China
India

South America

Brazil
Argentina
Rest of South America

Middle East & Africa

Saudi Arabia
UAE
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Artificial Intelligence in Retail MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Artificial Intelligence in Retail MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Artificial Intelligence in Retail Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Artificial Intelligence in Retail MARKET BY product landscape

SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Software

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Services

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Artificial Intelligence in Retail MARKET BY deployment INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 Cloud

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 On-Premise

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Artificial Intelligence in Retail MARKET REGIONAL OUTLOOK

7.1. Artificial Intelligence in Retail Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Artificial Intelligence in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Artificial Intelligence in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Artificial Intelligence in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Artificial Intelligence in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Artificial Intelligence in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Artificial Intelligence in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Artificial Intelligence in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Artificial Intelligence in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Artificial Intelligence in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Artificial Intelligence in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Artificial Intelligence in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Artificial Intelligence in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Artificial Intelligence in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Artificial Intelligence in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Artificial Intelligence in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Artificial Intelligence in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Artificial Intelligence in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Artificial Intelligence in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Artificial Intelligence in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Artificial Intelligence in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Artificial Intelligence in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Artificial Intelligence in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Artificial Intelligence in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Artificial Intelligence in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Artificial Intelligence in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Artificial Intelligence in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Artificial Intelligence in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Artificial Intelligence in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Artificial Intelligence in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Artificial Intelligence in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Artificial Intelligence in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Artificial Intelligence in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Artificial Intelligence in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Artificial Intelligence in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Artificial Intelligence in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Artificial Intelligence in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Artificial Intelligence in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Artificial Intelligence in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Artificial Intelligence in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Artificial Intelligence in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Artificial Intelligence in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Artificial Intelligence in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Artificial Intelligence in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Artificial Intelligence in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Artificial Intelligence in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Artificial Intelligence in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Artificial Intelligence in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Artificial Intelligence in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Artificial Intelligence in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Artificial Intelligence in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Artificial Intelligence in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Artificial Intelligence in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Artificial Intelligence in Retail Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Artificial Intelligence in Retail Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Artificial Intelligence in Retail Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Artificial Intelligence in Retail Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Artificial Intelligence in Retail Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 Amazon Web Services Inc

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 IBM Corporation

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 Microsoft Corporation

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 SAP SE

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 Google LLC

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Company 6

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Company 7

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 Company 8

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Company 9

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10 Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Artificial Intelligence In Retail Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032