Press release
What Are The Factors Driving The Artificial Intelligence in Retail Market Trends By 2025? | Google Inc., Salesforce.com, Inc., ViSenze, Focal Systems Inc., Sentient Technologies Holdings Limited, Manthan Software Services Pvt. Ltd., Microsoft Corporation,
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Artificial intelligence in retail market is estimated to be US$ 27,238.6 million by 2025 from US$ 712.6 million in 2016. The growth in market revenue is attributed to proliferating adoption of game changing technologies, growth in mobile market and emergence of various AI based start-ups catering to retail industry. Proliferation of enhanced technological awareness and varied product choices among the consumers have resulted into a noteworthy shift in global retail industry landscape. This has further foisted pressure on the traditional retailers to reimagine the strategies for creating and capturing value in order to explore the optimal usage of their assets. Public policy liberalization is also one of the key factors supporting the flow of knowledge, information and resources, further generating pressure on the brick 'n' mortar retailers to tackle with the lowered entry barriers to the online retailers in the market.
Key trend which will predominantly effect the market in coming year is rising adoption of multi-channel or omni channel retailing. In forthcoming years, the retail industry is anticipated to witness higher growth in the trend of Omni channel retailing. Artificial intelligence will be having a key role as this technology would be bridging the gap between online and offline retailing in coming future. Companies like Amazon have already enrooted its focus towards development of an AI enabled offline retail store that would enable the shoppers to move out of the store without waiting in the long queues of billing.
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.
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Table of Contents Snapshot:
1 Table of Contents 2
1.1 List of Tables 9
1.2 List of Figures 10
2 Introduction 14
2.1 Scope of the Study 14
2.2 The Insight Partners Research Report Guidance 14
3 Key Takeaways 16
4 Artificial Intelligence in Retail Market Landscape 18
4.1 Market Overview 18
4.2 Market Segmentation 19
4.2.1 Global Artificial Intelligence in Retail Market - By Retail Format 21
4.2.2 Global Artificial Intelligence in Retail Market - By Technology 21
4.2.3 Global Artificial Intelligence in Retail Market - By Application 21
4.2.4 Global Artificial Intelligence in Retail Market - By Geography 21
4.3 PEST Analysis 23
4.3.1 North America PEST Analysis 23
4.3.2 Europe PEST Analysis 26
4.3.3 Asia Pacific PEST Analysis 29
4.3.4 Middle East & Africa PEST Analysis 31
4.3.5 South America PEST Analysis 34
5 Global Artificial Intelligence in Retail Market - Key Industry Dynamics 36
5.1 Key Market Drivers 36
5.1.1 Startups are at the forefront, driving the adoption of AI in retail industry 36
5.1.2 Rapid adoption of game-changing technologies across the retail - value chain 37
5.1.3 Tremendous growth in mobile market is expected to encourage the widespread adoption of AI in retail 37
5.2 Key Market Restraints 38
5.2.1 Lack of in-house knowledge and cultural readiness hold back AI adoption 38
5.2.2 High cost and difficulty of implementing new technologies 38
5.3 Key Market Opporunities 39
5.3.1 Rising investments in speech analytics technology 39
5.4 Future Trends 39
5.4.1 Artificial intelligence to bridge the gap between online and offline retailing 39
5.4.2 Artificial intelligence enabled virtual mirrors to be major traction in fashion retail industry 40
5.5 Impact Analysis of Drivers and Restraints 41
6 Artificial Intelligence in Retail Market - Global 42
6.1 Global Artificial Intelligence Market Overview 42
6.2 Global Artificial Intelligence in Retail Market Forecast and Analysis 42
7 Global Artificial Intelligence in Retail Market Analysis - By Retail Format 44
7.1 Overview 44
7.2 E-commerce 45
7.2.1 Overview 45
7.2.2 Global Ecommerce Market Revenue and Forecasts to 2025 (US$ Mn) 45
7.3 Brick 'n' Mortar 47
7.3.1 Overview 47
7.3.2 Global Brick 'n' Mortar Market Revenue and Forecasts to 2025 (US$ Mn) 47
8 Global Artificial Intelligence in Retail Market Analysis - By Technology 49
8.1 Overview 49
8.2 Chatbots 50
8.2.1 Overview 50
8.2.2 Global Chatbots Market Revenue and Forecasts to 2025 (US$ Mn) 50
8.3 Recommendation Engines 52
8.3.1 Overview 52
8.3.2 Global Recommendation Engine Market Revenue and Forecasts to 2025 (US$ Mn) 52
8.4 Audio Visual Analytics 53
8.4.1 Overview 53
8.4.2 Global Audio Video Analytics Market Revenue and Forecasts to 2025 (US$ Mn) 54
8.5 Others 55
8.5.1 Overview 55
8.5.2 Global Others Market Revenue and Forecasts to 2025 (US$ Mn) 55
More Details on this Report At: https://www.marketstudyreport.com/reports/artificial-intelligence-in-retail-market-2025-global-analysis?utm_source=openpr.com-Mahadev
Related Report:
1. Global Artificial Intelligence in the Education Sector Market Size, Status and Forecast 2019-2025
Artificial Intelligence in the Education Sector refers to the AI applications in education industry, solving the issues such as language processing, reasoning, planning, and cognitive modeling. Growth in adoption of AI powered educational games, rise in trend of AI services through mobile devices, implementation of collaborative learning model, and facilitation of the improved course designing activities pose new opportunities in the market. This report focuses on the global Artificial Intelligence in the Education Sector status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Artificial Intelligence in the Education Sector development in United States, Europe and China. Read More: https://www.marketstudyreport.com/reports/global-artificial-intelligence-in-the-education-sector-market-size-status-and-forecast-2019-2025?utm_source=openpr.com-Mahadev
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