Market Overview

Artificial Intelligence (AI) in the Global Retail Market, 2023: CAGR to Grow by 35% - ResearchAndMarkets.com

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The "Global
Artificial Intelligence in Retail Market - Growth, Trend and Forecasts
(2018 - 2023)"
report has been added to ResearchAndMarkets.com's
offering.

The artificial intelligence in retail market is expected to grow at a
CAGR of over 35%, during the forecast period (2018-2023).

The scope of the report is limited to solutions offered by various
market players from various applications including supply chain &
logistics, product optimization, in-store navigation, payment & pricing
analytics, inventory management, and customer relationship management.

The global revenue from AI is expected to take a massive jump, which has
been estimated, due to the rising application of AI technology across
multiple industries. In fact, within the same timeframe, the advances in
the cognitive technologies, including AI and automation will replace 7%
of US jobs. These imply that retail companies could significantly reduce
the costs of labor and make their shopping processes far more efficient
depending on the customer persona.

The AI equipped retailers with sharper forecasting tools will help in
making smarter business decisions. The use of algorithms increases
visibility into ROI implications, translating to results like lower
costs and higher sales. AI has brought real disruption to the retail
sector by improving efficiency, as well as prediction. Based on a recent
survey by Walmart, 70% of U.S. millennial and 62% of millennial in the
UK would appreciate a brand or retailer using AI technology to show
exciting products.

Key Highlights

  • Inventory Management to Dominate the Retail Market Over the Forecast
    Period
  • North America to Appear as One of the Leading Regions in the
    Artificial Intelligence in Retail Market

Notable Developments in the Market

  • February 2018: Flipkart is eyeing deep-technology investments in the
    Silicon Valley to ramp up its technology infrastructure by investing
    over $25 million in an artificial intelligence startup to bring the
    technology over to India in order to play catch up with rival Amazon
    India.
  • January 2018: Manthan Software Services has launched an intuitive and
    context relevant in-store personalization solution for retailers. The
    in-store, marketing solution is powered by 'Manthan's TargetOne'
    personalized marketing engine and is delivered to customers through
    the retailer's mobile app.

Key Topics Covered

1. Introduction

2. Research Methodology

3. Executive Summary

4. Artificial Intelligence in Retail Market Insights

5. Artificial Intelligence in Retail Market Dynamics

6. Global AI in Retail Market Segmentation

7. Competitive Intelligence - Company Profiles

  • Amazon Web Services Inc.
  • NVIDIA Corporation
  • Google LLC
  • Walmart Inc.
  • IBM Watson Group
  • Microsoft Corporation
  • Plexure Ltd.
  • Intel Corporation
  • Qualcomm Inc.
  • SAP SE
  • Salesforce.com Inc.
  • Oracle Corporation
  • Manthan Software Services Pvt. Ltd.
  • Sentient Technologies Holdings Limited
  • Focal Systems Inc.
  • ViSenze Pte Ltd.

8. Investment Analysis

9. Future of the AI in Retail Market

For more information about this report visit https://www.researchandmarkets.com/research/lz24gz/artificial?w=4

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