Artificial Intelligence in Retail Market 2025: Industry Size, Growth Factors, Trends, and Top Companies Analysis for Business Development

New technologies and new ways to connect with consumers are transforming the retail sector. The industry is in the state of relentless competition to gain more customers, build customer loyalty and boost business visibility. Subsequently, various well-established retailers are struggling with increasing operational cost, dissatisfied customers, declining sales, and upstart competition; thereby creating a need for implementation of artificial intelligence in the retail industry. With the new phase of digital transformation, top players in the retail industry are implementing AI-powered intelligent automation in their core operations at a considerable scale.

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Growth of the global artificial intelligence in the retail market is mainly attributed to advancements in big data of the retail sector, rapid adoption of advances in technology across the retail chain, and increasing adoption of the multi-channel or omnichannel retailing strategy. Benefits of AI solutions in the form of enhanced end-user experience, improved productivity, and bridging the gap between online and offline retailing through AI-powered voice-enabled devices are driving retailers to embrace the power of AI. Rising number of smartphones and rapid economic growth in emerging economies across Latin America, South East Asia, and Africa provides significant opportunities for players in the AI market.

To provide efficient analysis, Meticulous Research [(R)] has segmented this market on the basis by Offerings (Solutions (Chatbot, Customer Behavior Tracking, Customer Relationship Management, Inventory Management, Price Optimization, Recommendation Engines, Supply Chain Management, and Visual Search) and Services (Managed, Professional)), By Application (Predictive Merchandising, Programmatic Advertising, Market Forecasting, In-store Visual Monitoring & Surveillance, Location-Based Marketing, Others), By Learning Technology (Machine Learning, Natural Language Processing, Computer Vision), By Retail type (E-commerce (Online Market Place, Fashion & Clothing, Food & Groceries, Electronics & White Goods, Health & Wellness) and Direct Retail (Brick & Mortar Stores, Supermarkets & Hypermarkets, Specialty Stores)), By Deployment Type (Cloud, On-premise), and Region - Global Forecast to 2025''

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Geographically, North America commanded the largest share of this market in 2018, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. The major share of North America is mainly attributed to the presence of several developed market, industry focus on enhancing the existing solutions in the retail space, and faster adoption of advanced technologies by players in the region's retail industry to enhance market share and achieve cost optimization. In addition, owing to the early adoption of new and emerging technologies such as machine learning, natural language processing (NLP), AI solutions and AI platforms is expected to dominate the market in terms of market size, throughout the forecast period. However, Asia-Pacific region is also promising fastest growth of artificial intelligence in retail market due to the improvements in the retail industry and the growth of e-commerce in countries including China and India. Growing penetration of AI-based solutions and services among retailers and increasing digitalization in the region is also supporting the growth of the market.

While in terms of applications, the predictive merchandising segment accounted for the largest share of the global artificial intelligence in retail market in 2018. The large share of this segment is mainly attributed to the growing demand for the customer behavior tracking solutions among the retailers. However, in-store visual monitoring and surveillance segment is expected to witness rapid growth during the forecast period.

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Scope of the Report:

AI in Retail Market by Product
Solutions
Chatbot
Customer Behavior Tracking
Customer Relationship Management (CRM)
Inventory Management
Price Optimization
Recommendation Engines
Supply Chain Management
Visual Search
Services
Managed services
Professional services

AI in Retail Market by Application
Predictive Merchandising
Programmatic Advertising
Market Forecasting
In-Store Visual Monitoring and Surveillance
Location-Based Marketing

AI in Retail Market by Technology
Machine Learning
Natural Language Processing (NLP)
Computer Vision

AI in Retail Market by End User
E-commerce
Online Market Place
Fashion & Clothing
Food & Groceries
Electronics & White Goods
Health & Wellness
Direct Retail
Brick & Mortar Stores
Supermarkets & Hypermarkets
Specialty Stores

AI in Retail Market by Deployment Mode
Cloud
On-Premises

AI in Retail Market by Geography:
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Latin America
Middle East & Africa

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Key Players:

The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market including Amazon.com, Inc. (U.S.), Google LLC (U.S.), IBM Corporation (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), Nvidia Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (GERMANY), Salesforce.com, Inc. (U.S.), BloomReach, Inc. (U.S.).

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Meticulous Research? was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.

This release was published on openPR.