AI in Retail Market Analysis

  • Report ID: 3516
  • Published Date: Aug 26, 2024
  • Report Format: PDF, PPT

AI in Retail Market Analysis

The market is segmented by application into supply chain and logistics, product optimization, in-store navigation, payment and pricing analytics, inventory management, and customer relationship management. Out of these, the product optimization segment is anticipated to hold the largest share in the global AI In retail market on account of the rising emphasis of companies on product recommendation and planning, and growing advancements in big data analytics. Moreover, on the basis of technology, the segment for natural language processing is assessed to grab the largest share during the forecast period owing to the increase in funding to leverage voice-based technologies for developing interactive online and in-store conversational AI platforms. In addition, integration of chatbots with social media platforms is also evaluated to boost the growth of the market segment in the future.

Our in-depth analysis of the global market includes the following segments

        By Technology

  • Machine Learning
  • Natural Language Processing
  • Image and Video Analytics
  • Swarm Intelligence

        By Component

  • Solution
  • Service

        By Deployment

 

  • Cloud
  • On-Premise

        By Application

 

  • Supply Chain and Logistics
  • Product Optimization
  • In-Store Navigation
  • Payment and Pricing Analytics
  • Inventory Management
  • Customer Relationship Management
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Browse Key Market Insights with Data Illustration:


Author Credits:  Abhishek Verma


  • Report ID: 3516
  • Published Date: Aug 26, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of AI in retail is evaluated at USD 9.04 billion.

AI in Retail Market size was valued at USD 7.25 billion in 2023 and is set to cross USD 237.81 billion by 2036, registering more than 30.8% CAGR during the forecast period i.e., between 2024-2036. The market growth is impelled by increasing investments in AI technology for developing innovative applications to improve retail customer experience and rising advent of new business models.

Asia Pacific industry is anticipated to dominate majority revenue share by 2036, owing to increasing number of retail companies in the region taking up AI-oriented initiatives.

The major players in the market are Baidu Inc., Amazon Web Services, Inc., Intel Corporation, Interactions LLC, Lexalytics Inc., and others.
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