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Artificial Intelligence in Retail Market Global Research Growth 2018-2025 by Top Companies : International Business Machines Corporation,. Microsoft Corporation, ViSenze, . Oracle
Artificial Intelligence in Retail
Artificial intelligence in retail market is estimated to be US$ 27,238.6 million by 2025 from US$ 712.6 million in 2016.
Artificial Intelligence in Retail Market is a technology which collects data and processed by using algorithms and then gives a model through which they can get useful and worthy information which can later on be used for making customer related decisions, and store related such as operational decisions, logistics, more productivity etc. Major driver for this market is retailers can learn about the requirements and needs of the customer when they link the data with the actual productivity. It also depicts in creating strategies related to monitoring, productivity, better relationship with customer and many more.
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Top Company Profiles : International Business Machines Corporation,. Microsoft Corporation, ViSenze, . Oracle, . Amazon Web Services, Inc. ,. Intel Corporation, . NVIDIA Corporation,8. Sentient Technologies Holdings Limited, . Salesforce.com, Inc.,. Google Inc.
Artificial intelligence in retail market by application is segmented into Sales & Marketing, Supply-chain & Logistics, Shelf Analytics, Pricing, In-Store Navigation, Auto-checkout and others (staffing and product mix optimization). Customer experience and management is projected to acquire majority share in the market. Digital convergence in retail is considered to bring glowing opportunity for retailers to retail the customer and set themselves apart. In the coming few years, interaction with a variety of technologies such as bots is expected to reinvent the customer experience.
The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the artificial intelligence and retail industry.
North America is one of the prominent regions in artificial intelligence in retail market which will contribute highest revenue globally owing to the massive transformation of region under the influence of internet and accessibility to various devices such as tablets, laptops and smart phones. Rapidly growing economies in Asia-Pacific (APAC) with significant growth in IT infrastructure and will pave the path for increasing adoption and propel the market for artificial intelligence in retail market. The APAC region is expected to lead the market with highest CAGR during the forecast period. Some of the key players of artificial intelligence in retail market include Sentient Technologies Holdings Limited, Manthan Software Services Pvt. Ltd, Focal Systems Inc, Microsoft Corporation, ViSenze, Tata Consultancy Services Limited, Salesforce.com, Inc., Plexure Ltd., Google,Inc., and IBM Watson Group, among others
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