Market Overview

Artificial Intelligence (AI) in Retail Market 2020 Global Industry Analysis by Growth, Size, Revenue, Regional Demand, Trends and Forecasts to 2026

Share:

The global artificial intelligent (AI) in retail market size is estimated to reach USD 23,426.3 million by 2026, exhibiting a CAGR of 33.7% during the forecast period.

According to the report, published by Fortune Business Insights™ in a report, titled “Artificial Intelligence (AI) in Retail MarketSize, Share and Industry Analysis, By Offering (Solutions, Services), By Function (Operations-Focused, Customer-Facing), By Technology (Computer Vision, Machine Learning, Natural Language Processing, and Others), and Regional Forecast, 2019-2026” . The report is aimed at delivering a comprehensive view of the AI in retail market dynamics, structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers porter’s analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases different procedures and strategies of companies currently operating in the market. It further examines the components convincing market expansion, growth patterns, restricting factors and market strategies.

The global artificial intelligent (AI) in retail market size is estimated to reach USD 23,426.3 million by 2026, exhibiting a CAGR of 33.7% during the forecast period.

Get Detailed Analysis on Artificial Intelligence (AI) in Retail Market Research Report

The Report Covers the Following, Major Points Precisely:

• Top Players That Are Operating in the Global Market
• Market Segmentation
• Regional Analysis
• Deep Insights into the Market with Detailed Table of Content and Figures
• Global Market Predictions for Five Decades.

Introduction of AI Integrated Products and Solutions to Foster Growth in Asia Pacific

North America was valued at USD 1,102.0 million and is expected to remain dominant during the forecast period. The rising deployment of AI-based solutions by retailers to improve the supply chain operations and product portfolio will contribute positively to the AI in retail market revenue. Asia Pacific is expected to grow rapidly during the forecast period owing to the launch of various AI integrated products and solutions. For instance, China is expected to be a world-leading AI center by 2030.

Key Questions Answered:

• What are the key technological and trends shaping the market?
• What are the key opportunities in the market?
• What are the key companies operating in the market?
• Which company accounted for the highest market share?
• Why Choose Fortune Business Insights?
• What is the market size and growth rate of the global and regional market by various segments?
• What is the market size and growth rate of the market for selective countries?
• Which region or sub-segment is expected to drive the market in the forecast period?
• What Factors are estimated to drive and restrain the Market growth?

Some of the Major Companies in the Global Artificial Intelligence (AI) in Retail Market include:

  • Amazon Web Services, Inc.
  • Baidu, Inc.
  • CognitiveScale, Inc.
  • Google LLC
  • IBM Corporation
  • Microsoft Corporation
  • Next IT Corporation
  • Nvidia Corporation
  • Oracle Corporation
  • RetailNext, Inc.
  • SAP SE
  • ai
  • com, Inc.

Emergence of Virtual Trial Rooms to Bolster Healthy Growth

The increasing popularity of virtual trial rooms and ongoing development across retail supply chains will aid the AI in retail market trend during the forecast period. For instance, virtual trial rooms enable buyers to try different dresses without actually having to wear them with the help of digital mirrors. Further, AI allows shoppers to experiment with their outfit by means of a touch-based interface. In addition, the launch of virtual rooms by major companies to create growth opportunities for the market. For instance, Fitiquette, a fashion Web site uses a ground-breaking technology that allows customers to try on outfits in a virtual 3D world based on the user’s exact body dimensions. The trial room gives a 360-degree view of the fit and drape of a garment on the actual body dimensions of the consumer.

Request a Sample Copy

Market Segmentation

By Offering

  • Solution
  • Services

By Function

  • Operations-Focused
  • Customer-Facing

By Technology

  • Computer Vision
  • Machine Learning
  • Natural Language Processing
  • Others

By Region

  • North America (U.S. and Canada)
  • Europe (U.K., Germany, France, Scandinavia, and Rest of Europe)
  • Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)
  • Middle East and Africa (South Africa, GCC and Rest of Middle East and Africa)
  • Latin America (Brazil, Mexico, and Rest of Latin America)

Disposition to AI-powered Chat Bots by Retailers will Encourage Market Expansion

The growing inclination of retail brands for the deployment of AI-powered chatbots for customer engagement will augment healthy growth of the market in the forthcoming years. Retail brands are able to handle several queries simultaneously with the help of chatbots, without the need to employ a large workforce. The positive impact of artificial intelligence on customer relations and sales will spur demand for AI in retail. Furthermore, close-ended chatbots are configured to answer shopping-related questions, provide quick support and suggestions besides offering a better resolution to their problem. Customers are more likely to engage with AI-powered chatbots, which, in turns enhances customer loyalty. These factors combined will accelerate the AI in retail market share in the foreseeable future.

Have Any Query? Ask Our Research Experts

Detailed Table of Content

5.Global Artificial Intelligence (AI) in Retail Market Analysis, Insights and Forecast, 2015-2026
5.1.Key Findings / Summary
5.2.Market Size Estimates and Forecasts
5.2.1.By Offering (Value)
5.2.1.1.Solution
5.2.1.2.Services
5.2.2.By Function (Value)
5.2.2.1.Operations-Focused
5.2.2.2.Customer-Facing
5.2.3.By Technology (Value)
5.2.3.1.Computer Vision
5.2.3.2.Machine Learning
5.2.3.3.Natural Language Processing
5.2.3.4.Others
5.2.4.By Geography (Value)
5.2.4.1.North America
5.2.4.2.Europe
5.2.4.3.Asia Pacific
5.2.4.4.Middle East and Africa
5.2.4.5.Latin America
6.North America Artificial Intelligence (AI) in Retail Market Analysis, Insights and Forecast, 2015-2026
6.1.Market Size Estimates and Forecasts
6.1.1.By Offering (Value)
6.1.1.1.Solution
6.1.1.2.Services
6.1.2.By Function (Value)
6.1.2.1.Operations-Focused
6.1.2.2.Customer-Facing
6.1.3.By Technology (Value)
6.1.3.1.Computer Vision
6.1.3.2.Machine Learning
6.1.3.3.Natural Language Processing
6.1.3.4.Others
6.1.4.By Country (Value)
6.1.4.1.U.S.
6.1.4.2.Canada
7.Europe Artificial Intelligence (AI) in Retail Market Analysis, Insights and Forecast, 2015-2026
7.1.Market Size Estimates and Forecasts
7.1.1.By Offering (Value)
7.1.1.1.Solution
7.1.1.2.Services
7.1.2.By Function (Value)
7.1.2.1.Operations-Focused
7.1.2.2.Customer-Facing
7.1.3.By Technology (Value)
7.1.3.1.Computer Vision
7.1.3.2.Machine Learning
7.1.3.3.Natural Language Processing
7.1.3.4.Others
7.1.4.By Country (Value)
7.1.4.1.UK
7.1.4.2.Germany
7.1.4.3.France
7.1.4.4.Scandinavia
7.1.4.5.Rest of Europe
8.Asia Pacific Artificial Intelligence (AI) in Retail Market Analysis, Insights and Forecast, 2015-2026
8.1.Market Size Estimates and Forecasts
8.1.1.By Offering (Value)
8.1.1.1.Solution
8.1.1.2.Services
8.1.2.By Function (Value)
8.1.2.1.Operations-Focused
8.1.2.2.Customer-Facing
8.1.3.By Technology (Value)
8.1.3.1.Computer Vision
8.1.3.2.Machine Learning
8.1.3.3.Natural Language Processing
8.1.3.4.Others
8.1.4.By Country (Value)
8.1.4.1.China
8.1.4.2.Japan
8.1.4.3.India
8.1.4.4.Southeast Asia
8.1.4.5.Rest of APAC

TOC Continued...!!!

View Related Reports:

Connected Agriculture Market to Reach USD 7.22 billion by 2026, Driven by Advancements in Related Equipment, says Fortune Business Insights™

3D Audio Market to Exhibit 16.9% CAGR, Market to Rise with Advent of Acoustic Headphones, Reports Fortune Business Insights™

Predictive Maintenance Market to Reach USD 18,551.0 Million by 2026 Driven by the Increasing Industrialization Across the World, says Fortune Business Insights™

About us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email:sales@fortunebusinessinsights.com

Website:Fortune Business Insights™

Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Artificial Intelligence (AI) in Retail Market 2020 Global Industry Analysis by Growth, Size, Revenue, Regional Demand, Trends and Forecasts to 2026

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com