Global artificial intelligence in retail market is expected to grow from US$ 712.6 million in 2016 to US$ 27,238.6 million by 2025 at a CAGR of 51.2% between 2017 and 2025.
Inception of exponential technologies such as sensors, robotics, virtual reality, and artificial intelligence in the retail industry has enabled the retailers to enhance their interactions with consumers and transformed the way retail operations were performed. This change in the industry is prominently driven by the seismic shift in the shopping pattern of the consumers, and their preferences backed by demographic dividend across regions.
The report focuses on an in-depth segmentation of this market based by retail format, technology, and application. The geographic segmentation of the report covers five major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA). The regional market has been further bifurcated by respective countries. By application segment customer experience and management accounted for the largest share of the artificial intelligence in retail market in 2016; whereas, APAC region is expected to grow at the highest CAGR during the forecast period.
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Leading Artificial Intelligence in Retail Market Players:
· Sentient Technologies Holdings Limited
· Manthan Software Services Pvt. Ltd
· Focal Systems Inc
· Microsoft Corporation
· Tata Consultancy Services Limited
· Salesforce.com, Inc
· Plexure Ltd.
· IBM Watson Group
North America is one of the prominent regions in artificial intelligence in retail market which will contribute highest revenue globally owing to the massive transformation of region under the influence of internet and accessibility to various devices such as tablets, laptops and smart phones. Rapidly growing economies in Asia-Pacific (APAC) with significant growth in IT infrastructure and will pave the path for increasing adoption and propel the market for artificial intelligence in retail market. The APAC region is expected to lead the market with highest CAGR during the forecast period. Some of the key players of artificial intelligence in retail market include Sentient Technologies Holdings Limited, Manthan Software Services Pvt. Ltd, Focal Systems Inc, Microsoft Corporation, ViSenze, Tata Consultancy Services Limited, Salesforce.com, Inc., Plexure Ltd., Google,Inc., and IBM Watson Group, among others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Artificial Intelligence in Retail Market based on product and application. It also provides market size and forecast till 2025 for overall Artificial Intelligence in Retail Market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM), which is later sub-segmented by respective countries and segments. The report evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend and provides exhaustive PEST analysis for all five regions.
Also, key Artificial Intelligence in Retail Market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 3 years, key development in past five years.
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