Spain Brazil Russia France Germany China Korea Japan

Artificial Intelligence driven Marketing Communications

Sep 4, 2019 2:05 PM ET

Global AI in Retail Market is Expected to Reach USD 4.4 billion by 2024, Observing a CAGR of 35.5% during 2019–2024: VynZ Research


iCrowd Newswire - Sep 4, 2019

The global AI in retail market is expected to grow at a CAGR of 35.5% during the forecast period with its market size predicted to reach USD 4.4 billion by 2024.

Industry Insights by Offering (Solution [Chatbot, CRM, SCM, Price Optimization, Recommendation Engine, Visual Search, Others], Service [Managed, Professional]), by Technology (Machine Learning, NLP, Computer Vision, Others)

The Increasing e-retail industry, growing investments by retail companies in AI technology, and growing mobile internet penetration are the major factors leading to the high demand of AI in retail market.

Get a free copy of sample report: https://www.vynzresearch.com/ict-media/ai-in-retail-market/request-sample

AI in Retail Market

Solution category accounted for the largest revenue share in the AI in retail market

Based on offering, the global AI in retail market is categorized into solution and service, wherein solution category accounted for a larger share in 2018. The category is expected to lead throughout the forecast period owing to the mounting adoption of AI technology by e-commerce companies.

Solution category is further sub-segmented into the chatbot, CRM, price optimization, recommendation engine, SCM, visual search, and others.

Service category is further sub-categorized into managed and professional.

On the basis of technology, the global AI in retail market is segmented into machine learning, NLP, computer vision, and others. Among these categories, the machine learning category accounted for the largest share in 2018, and also it is expected to witness the fastest growth in the market during the forecast period. Companies in the retail business are utilizing machine learning solution to offer an increasingly customized involvement to the end clients just as to give an intelligent domain to them. Besides, the developing pattern of rising technology adoption can be related to the requirement for streamlining retail tasks, limiting endeavors, and expanding income for the most part for web-based business retailers.

Geography Insight

Geographically, North America is the largest AI in retail market owing to the presence of several developed economies, such as the United States and Canada, concentrating on improving the current arrangements in the retail space. North America has the essential AI solution suppliers and is an early adopter of AI solution. Numerous US-based organizations like IBM Corporation, Amazon Web Services, Microsoft Corporation, Google Inc., NVIDIA Corporation, Intel Corporation, Salesforce, Sentient Technologies are widely including themselves in the product advancement and enhancement.

Competitive Insight

The increasing adoption of IoT, Big Data analytics, and online business promoting give rewarding chances to AI in the retail market. AI in retail market is fragmented in nature. In general, the focused competition among existing players is high. Market players in the global AI in retail industry are majorly focusing on mergers & acquisitions, product launches, and partnerships to expand their market share.

Some of the key players operating in the global AI in retail market are Industrial and Financial Systems (IFS) AB, Infor Inc., Ramco Systems Limited, Bentley Systems Incorporated, Rockwell Automation Inc., SAP SE, ABB Ltd., International Business Machines (IBM) Corporation, Schneider Electric SE, MRI Software LLC, CGI Group Inc., and AssetWorks LLC.

Do you have any specific research requirement? Ask for customization: https://www.vynzresearch.com/ict-media/ai-in-retail-market/customize-report

Primary Research

In the primary data collection process, there are several sources interviewed in order to obtain precise quantitative and qualitative information for this study. The primary sources those are included for the data collection of this study comprises of manufacturers, commercial growers, industry consultants and others key industry experts. There are several others sources that helped in gaining insightful information about this market are CEOs, marketing and sales directors, vice presidents, and key opinion leaders from various key companies operating in the global AI in retail market. Primary research in this report has been conducted for estimating market size, market dynamics and strategies adopted by the key players in this market.

Secondary Research

Secondary sources referred for this research report includes association for AI in retail, business filings such as financial statements, annual reports, investor presentations and trade associations. The secondary data has been used for estimating overall market size and growth of AI in retail market that has been authenticated with the supporting facts gathered through primary data collection.

The Report Offers:

Benefits of Report Purchase from VynZ:

Detailed Research

We provide accurate data and in-depth analysis with all-inclusive coverage.

Robust Research Methodology

Robust research methodology and data triangulation to ensure high quality report.

Analyst Support

24*7 analyst support – Pre and post purchase of the report as well as during the project tenure.

Sales Support

24*7 sales support – Hassle free delivery of the report and quick response and support by sales team.

Free Customization

20% post purchase free customization to meet your requirements.

Customer Satisfaction

We claim full customer satisfaction as our core values lie in building long term relationship.

Security

High level of data security and confidentiality of your information.

Global AI in Retail Market Coverage

Offering Insight and Forecast 2014-2024

Technology Insight and Forecast 2014-2024

Geographical Segmentation

AI in Retail Market by Region

North America

Europe

Asia-Pacific (APAC)

Rest of the World (RoW)

More from VynZ Research

Global Artificial Intelligence (AI) in Cyber Security Market Analysis and Forecast to 2024

The global AI in cyber security market is predicted to grow at 35.0% CAGR during the forecast period with the market size reaching USD 31.2 billion by 2024. Different technologies including natural language processing, machine learning, and image processing are majorly contributing to the AI in Cyber Security market size. The market has witnessed significant demand for these technologies and services over the last few years due to increasing adoption of internet of things (IoT), vulnerability of systems connected to Wi-Fi networks, and increasing number of cyber-attacks.

Explore more at: https://www.vynzresearch.com/ict-media/artificial-intelligence-in-cyber-security-market

Global Cyber Security Market Market Analysis and Forecast to 2024

The global cyber security market is projected to reach USD 282.3 billion by 2024, registering a CAGR of 11.1% during the forecast period. The global cyber security market has been driven by several key factors, predominantly the stringent directives for data privacy, increasing number of cyber-attacks, increasing adoption of digital solutions by most industries, and increasing inclination towards cloud-based solutions from on-premise. Owing to security reasons, enterprises are inclining towards the usage of cloud-based solutions to keep data safe at third-party servers.

Explore more at: https://www.vynzresearch.com/ict-media/cyber-security-market

Global Enterprise Asset Management (EAM) Market Analysis and Forecast to 2024

The global enterprise asset management (EAM) market is projected to reach USD 8.8 billion by 2024, registering a CAGR of 13.3% during the forecast period. The market has been driven by several key factors, predominantly increasing adoption of EAM for effective utilization of assets, reduced maintenance and procurement expenses, and improved return on assets.

Explore more at: https://www.vynzresearch.com/ict-media/enterprise-asset-management-eam-market

 

About VynZ Research

VynZ Research is a market research firm offering research, analytics, and consulting services on business strategies. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. VynZ Research assists enterprises to take strategic decisions for helping their businesses to grow. The reports developed by VynZ are based on market facts that include comprehensive analysis and quantification of market drivers, industry dynamics, opportunities, challenges, threats, market shares and anticipated new trends & technologies arising across a wide range of industries.

Contact Us:

VynZ Research

Call: +91-996-028-8381

Toll Free (U.S. and Canada): +1-888-253-3960

Email: enquiry@vynzresearch.com

Web: https://www.vynzresearch.com



Contact Information:

VynZ Research
Call: +91-996-028-8381
Toll Free (U.S. and Canada): +1-888-253-3960






Keywords:    AI in Retail Market, AI in Retail, Artificial Intelligence in Retail Market, Artificial Intelligence in Retail, AI in Retail Market Size, AI in Retail Market Growth, AI in Retail Market Demand

Tags:    Extended Distribution, Wire, Research Newswire, English