Global Artificial Intelligence (AI) in Retail Market to Reach $72 Billion by 2030
The global market for Artificial Intelligence (AI) in Retail estimated at US$13.2 Billion in the year 2023, is expected to reach US$72 Billion by 2030, growing at a CAGR of 27.4% over the analysis period 2023-2030. Machine Learning Technology, one of the segments analyzed in the report, is expected to record a 27.7% CAGR and reach US$31.8 Billion by the end of the analysis period. Growth in the Natural Language Processing Technology segment is estimated at 28.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.3 Billion, While China is Forecast to Grow at 26.5% CAGR
The Artificial Intelligence (AI) in Retail market in the U.S. is estimated at US$4.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$12.1 Billion by the year 2030 trailing a CAGR of 26.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 24.6% and 23.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 18.9% CAGR.
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