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AI in Retail Market Trends

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

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AI in Retail Market Trends

Growth Drivers

Increasing Investments in AI Technology for Developing Innovative Applications to Improve Retail Customer Experience
Rising Advent of New Business Models

Challenges

Privacy Issues Associated with the Use of AI

AI in Retail Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	30.8%
Base Year Market Size (2023)	USD 7.25 billion
Forecast Year Market Size (2036)	USD 237.81 billion
Regional Scope	North America (U.S., and Canada) Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific) Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Latin America (Mexico, Argentina, Brazil, Rest of Latin America) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

AI in Retail Market Size & Share, Growth Report 2036

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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