Insights Into The Artificial Intelligence (AI) In Retail Market’s Growth Potential 2024-2033
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The artificial intelligence (AI) in the retail market size has grown exponentially in recent years. It will grow from $9.12 billion in 2023 to $11.9 billion in 2024 at a compound annual growth rate (CAGR) of 30.4%. The growth in the historic period can be attributed to growth of AI in retail, increased necessity for surveillance and monitoring, rapid implementation of AI solutions, advancements in computer vision, growing demand for efficient operations.
The artificial intelligence (AI) in the retail market size is expected to see exponential growth in the next few years. It will grow to $34.09 billion in 2028 at a compound annual growth rate (CAGR) of 30.1%. The growth in the forecast period can be attributed to projected market growth, AI’s transformative power, demand-side trends, favorable global market outlook, increasing competition. Major trends in the forecast period include adoption of machine learning, growing demand for ai services, enhanced user experience and productivity, regional market expansion.
The digital transformation in the retail industry is expected to propel the growth of artificial intelligence (AI) in the retail market going forward. Digital transformation refers to the comprehensive and strategic integration of digital technologies, processes, and capabilities across various aspects of an organization. Retailers globally are adopting digital processes and enhancing customer experiences, resulting in an increased demand for AI solutions. This integration of AI in retail, driven by the imperative of digital transformation, fosters innovation in tasks such as automation, personalized marketing, and trend prediction, improving operational efficiency and providing insights into customer behavior.
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What Are The Key Trends That Influence Artificial Intelligence (AI) In Retail Market Share Analysis?
Major companies operating in the artificial intelligence (AI) retail market are developing advanced technologies, such as cloud-based solutions, to drive innovation and enhance efficiency in the retail sector. Cloud-based solutions refer to computing services, including storage, processing, and software applications, that are delivered over the internet (cloud) instead of relying on local servers or traditional computing infrastructure.
Which Market Players Are Driving Growth In The Artificial Intelligence (AI) In Retail Market?
Major companies operating in the artificial intelligence (AI) in retail market are Google LLC, Microsoft Corporation, Amazon Web Services, Intel Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Presto, NVIDIA Corporation, Salesforce Inc., Baidu Inc., ViSenze, Travelport, Databricks, DATAIKU, Symbotic, BloomReach Inc., Trax, Interactions LLC, Featurespace, RetailNext Inc., Trigo, Standard Cognition, CognitiveScale Inc., BrainBox AI, Inbenta Technologies, Next IT Corp., Infinite Analytics, Lexalytics Inc., Sentient Technologies
How Is The Global Artificial Intelligence (AI) In Retail Market Segmented?
1) By Component: Solution; Service
2) By Technology: Machine Learning; Natural Language Processing; Chatbots; Image And Video Analytics; Swarm Intelligence
3) By Deployment: Cloud; On-Premise
4) By Channel: Omnichannel; Brick And Mortar; Pure-Play Online Retailers
5) By Application: Customer Relationship Management; Supply Chain And Logistics In-Store; Navigation Inventory Management; Product Optimization; Payment And Pricing Analytics
Read The Full Artificial Intelligence (AI) In Retail Market Report Here
The Artificial Intelligence (AI) In Retail Global Market Report 2024 provides an overview of the artificial intelligence (AI) in retailmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The artificial intelligence (AI) in retail market forecast analyzes artificial intelligence (AI) in retail market size, artificial intelligence (AI) in retail market share, leading competitor and their market positions.
The Table Of Content For The Artificial Intelligence (AI) In Retail Market Include
1. Artificial Intelligence (AI) In Retail Market Executive Summary
2. Artificial Intelligence (AI) In Retail Market Segments
3. Artificial Intelligence (AI) In Retail Market Size And Template Market Growth Rate
4. Key Artificial Intelligence (AI) In Retail Market Trends
5. Major Artificial Intelligence (AI) In Retail Market Drivers
……
25. Key Mergers And Acquisitions In The Artificial Intelligence (AI) In Retail Market
26. Top Artificial Intelligence (AI) In Retail Companies
27. Artificial Intelligence (AI) In Retail Market Opportunities And Strategies
28. Artificial Intelligence (AI) In Retail Market, Conclusions And Recommendations
29. Appendix
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