WiseGuyRerports.com Presents “Global Artificial Intelligence in Retail Market Size, Status and Forecast 2018-2025” New Document to its Studies Database
On the flip side, scarcity of skilled experts related to cloud-based and AI technology, an increase in integration issues of artificial intelligence in various retail-related software, the emergence of risk related to ethics and machine responsibility, and privacy concern are factors that may restrict the artificial intelligence in retail market growth.
Artificial intelligence in retail market plays a crucial role in pricing, marketing, advertising, and promotion of products. AI technology offers organizations the power to reduce costs and making the end consumers experience efficient and delightful. The use of AI in the retail market spans every facet of the industry. Be it optimizing the supply chain, using existing data for increasing conversion, or customizing shopping experiences through pricing, micro-targeting, or predictive modeling, artificial intelligence can help in meeting all such tasks in the retail space.
Several factors are propelling the artificial intelligence in retail market growth such as growing requirement among retail enterprises to improve productivity, maintain inventory accuracy, and offer enhanced customer experience, changing preferences of customers related to real-time management, relevant recommendations, differentiated personalization, and value-oriented shopping, increasing investments by retail companies in AI, and growing e-retail industry. Additional factors pushing market growth include increasing need for superior monitoring and surveillance in physical stores, increasing awareness as well as the application of artificial intelligence in the retail industry, and adoption of various technologies such as chatbot, deep learning, and machine learning.
Major Key Players:
Amazon Web Services
The report provides a comprehensive segmental analysis of artificial intelligence in retail market on the basis of type and application.
Based on type, the artificial intelligence in retail market is segmented into on-premises and cloud.
Based on application, the global artificial intelligence in retail market is segmented into location-based marketing, in-store visual monitoring and surveillance, market forecasting, programmatic advertising, predictive merchandising, and others.
By region, the artificial intelligence in retail market has been segmented into the North America, Europe, the Asia Pacific, and the Rest of the World.
The artificial intelligence in retail market in North America is predicted to have significant growth. Factors supporting growth in the region include huge investments in the artificial intelligence technology and the presence of many top market players in the region, including Google, IBM, and Microsoft. Besides, accessibility to different devices such as smartphones, laptops, and tablets and the region’s massive transformation under the influence of the internet is also adding to the market growth.
The artificial intelligence in retail market in the APAC region is predicted to have healthy growth. Factors supporting growth in the region include a rapidly growing economy, remarkable growth in IT infrastructure, improvements in the retail industry, and growth of e-commerce in China as well as India. China is the leading contributor in the region.
The artificial intelligence in retail market in Europe is predicted to have a notable growth chiefly on account of feasibility in both in-store and online shopping experience and prominent companies operating in this market.
The artificial intelligence in retail market in the RoW is predicted to have a favorable growth over the forecast period.
Table Of Content:
1 Market Overview
2 Global Market Competition by Manufacturers
3 Global Capacity, Production, Revenue (Value) by Region (2013-2018)
4 Global Supply (Production), Consumption, Export, Import by Region (2013-2018)
5 Global Production, Revenue (Value), Price Trend by Type
6 Global Market Analysis by Application
7 Global Manufacturers Profiles/Analysis
8 Manufacturing Cost Analysis
9 Industrial Chain, Sourcing Strategy and Downstream Buyers
10 Marketing Strategy Analysis, Distributors/Traders
11 Market Effect Factors Analysis
12 Global Market Forecast (2018-2025)
13 Research Findings and Conclusion