Artificial Intelligence in Retail Market, By Technology (Machine Learning, Natural Language Processing, Computer Vision, and Robotic Process Automation), By Application (Personalized Recommendations, Inventory Management, Customer Service Chatbots, Fraud

Artificial Intelligence in Retail Market, By Technology (Machine Learning, Natural Language Processing, Computer Vision, and Robotic Process Automation), By Application (Personalized Recommendations, Inventory Management, Customer Service Chatbots, Fraud Detection, and Pricing Optimization), By End User (E-commerce, Brick-and-Mortar Stores, and Wholesalers), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Artificial Intelligence (AI) is transforming industries at an unprecedented rate, and retail is no exception. AI is being applied to crucial areas of the retail experience from product recommendations to autonomous stores. AI presents a massive opportunity for retailers to gain deeper customer insights, optimize operations and inventory, and provide more personalized experiences. Advanced algorithms are powering new technologies like computer vision, which allows AI systems to see and understand visual inputs. This enables innovative applications from virtual assistants that see and understand consumer needs to autonomous checkout-free stores. AI is ushering in a new era of hyper-personalized interactions, customized product recommendations, and frictionless shopping experiences.

Market Dynamics:

The global artificial intelligence in retail market growth is driven by the growing need for personalized shopping experiences, predictive analysis to reduce risks and optimize operations, and automation of repetitive tasks to improve productivity. However, high implementation costs of advanced AI technologies and lack of skilled talent are restraining faster adoption. Key opportunities include leveraging computer vision for applications like visual search, virtual/augmented reality retail, and autonomous stores. Adoption of AI is also being encouraged by technological advancements such as edge computing that support advanced analytics even with limited connectivity. Retail giants are investing heavily in startups developing innovative AI solutions to gain a competitive edge and enhance customer experiences.

Key features of the study:

This report provides in-depth analysis of the global artificial intelligence in retail market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global artificial intelligence in retail market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Adobe, Alibaba Group, Amazon Web Services (AWS), Apple, Appier, Ceconomy, Edeka, Foot Locker, Home Depot, IBM, Kroger, Lemon AI, Lowe's, Microsoft, and NIKE

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global artificial intelligence in retail market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global artificial intelligence in retail market.

Detailed Segmentation-

By Technology Insights (Revenue, USD Bn, 2019 - 2031)

Machine Learning

Natural Language Processing (NLP)

Computer Vision

Robotic Process Automation (RPA)

By Application Insights (Revenue, USD Bn, 2019 - 2031)

Personalized Recommendations

Inventory Management

Customer Service Chatbots

Fraud Detection

Pricing Optimization

By End User Insights (Revenue, USD Bn, 2019 - 2031)

E-commerce

Brick-and-Mortar Stores

Wholesalers

By Regional Insights (Revenue, USD Bn, 2019 - 2031)

North America

U.S.

Canada

Latin America

Brazil

Argentina

Mexico

Rest of Latin America

Europe

Germany

U.K.

Spain

France

Italy

Russia

Rest of Europe

Asia Pacific

China

India

Japan

Australia

South Korea

ASEAN

Rest of Asia Pacific

Middle East

GCC Countries

Israel

Rest of Middle East

Africa

South Africa

North Africa

Central Africa

Key Players Insights

Adobe

Alibaba Group

Amazon Web Services (AWS)

Apple

Appier

Ceconomy

Edeka

Foot Locker

Home Depot

IBM

Kroger

Lemon AI

Lowe's

Microsoft

NIKE