AI in Retail Market Information, Industry Trends & Key Players - (Amazon Web Services, Baidu Inc., BloomReach, Google, IBM Corporation, Intel Corporation, Microsoft, Next Ltd, Nvidia Corporation, Oracle, Salesforce, SAP SE, Interactions LLC, RetailNext, V

The growth map of AI in retail market is estimated to depict quite an ascent by 2024, driven by the increasing implementation of AI technology in retail stores. Enterprises have started realizing the importance of new technologies which can help them in gaining an edge over their competitors. So, they are rapidly adopting these web solutions in order to expand their customer base and provide a personalized shopping experience to the customers. Increasing demand for the enhanced customer experience is primarily driving the AI in retail market trends.

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Escalating competition between the enterprises has become a common scenario in this dynamic market. With consistent focus on maintaining customer loyalty, companies have started adopting consumer centric platforms to improve the overall shopping experience. Ongoing digitalization and growing inclinations toward web solutions generates a huge volume of data, further creating the need of data analytics. Enterprises have begun utilizing the power of artificial intelligence which has been helping them to process this huge data and derive pointers for introduction of new business models. Upcoming advancements in data science are anticipated to foster AI in retail market demand.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Amazon Web Services
2. Baidu Inc.
3. BloomReach
4. Google
5. IBM Corporation
6. Intel Corporation
7. Microsoft
8. Next Ltd
9. Nvidia Corporation
10. Oracle
11. Salesforce
12. SAP SE
13. Interactions LLC
14. RetailNext
15. Visenze

The computer vision technology is gaining popularity among offline retailers owing to introduction of several technology based in-store applications to help sustaining the narrow competition in the retail sector. The increasing adoption of computer vision-based cameras and robots helping to track & manage store inventory is driving the segmental growth.

Retailers are leveraging computer vision for shelf scanning, facial recognition and analysis of consumers buying patterns. Owing to increasing trend of superior monitoring and surveillance at physically present retail stores, AI in retail market from computer vision technology is estimated to grow at a substantial CAGR of over 37% through 2024.

The escalating competition among retailers will foster implementation of advanced advertising strategies, which would eventually drive programmatic advertising application segment. Retailers are consistently striving to increase their customer base through multi-channel marketing solutions to provide customers with a seamless shopping experience.

Deploying artificial intelligence for programmatic advertising helps targeting the correct audience to deliver right messages about the products and discount offers for maximizing the sales and reducing the advertising expenditure. Owing to the proliferating trends of digital marketing, programmatic advertising segment is predicted to grow at CAGR of over 42% during the forecast timeframe.

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The North American region accounted for over 53% of AI in retail market share in 2017 and is predicted to maintain its dominance over the global market share during the forecast timeline. The regional growth is credited to increasing expenditure on AI technology complemented by existence of prominent players such as Microsoft, Google, and Intel. The proliferating e-commerce industry will further support the North America AI in retail market growth.

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