Press release
What's driving the Artificial Intelligence in Retail Market trends? Google, IBM Watson Group, Microsoft Corporation, Sentient Technologies Holdings Limited, Manthan Software Services Pvt. Ltd., Focal Systems Inc., ViSenze, Tata Consultancy Services Limite
Artificial Intelligence in Retail Market
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 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).
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Key Company Profiles
o Sentient Technologies Holdings Limited
o Manthan Software Services Pvt. Ltd.
o Focal Systems Inc.
o Microsoft Corporation
o ViSenze
o Tata Consultancy Services Limited
o Salesforce.com, Inc.
o Plexure Ltd.
o Google,Inc.
o IBM Watson Group
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.
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.
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
1 Table of Contents
2 Introduction 14
3 Key Takeaways
4 Artificial Intelligence in Retail Market Landscape 18
5 Global Artificial Intelligence in Retail Market - Key Industry Dynamics 36
6 Artificial Intelligence in Retail Market - Global 42
7 Global Artificial Intelligence in Retail Market Analysis - By Retail Format
8 Global Artificial Intelligence in Retail Market Analysis - By Technology
9 Global Artificial Intelligence in Retail Market Analysis - By Application
10 Global Artificial Intelligence in Retail Market - Geographical Analysis
11 Industry Landscape
12 Competitive Landscape
12.1 Competitive Product Mapping
13 Global Artificial Intelligence in Retail Market - Key Company Profiles
13.1 Sentient Technologies Holdings Limited
13.2 Manthan Software Services Pvt. Ltd.
13.3 Focal Systems Inc.
13.4 Microsoft Corporation
13.5 ViSenze
13.6 Tata Consultancy Services Limited
13.7 Salesforce.com, Inc.
13.8 Plexure Ltd.
13.9 Google,Inc.
13.10 IBM Watson Group
14 Appendix
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