Press release
Artificial Intelligence in Retail Market 2021 by Type, Size, Growth and Forecast-Style.ai, Google LLC, Daisy Intelligence, IBM Corporation
Artificial Intelligence in Retail Market by Component, Application, Services, and Region- Forecast to 2026The Global Artificial Intelligence in Retail Market Research Report 2021-2026 published by Market Insights Reports is a significant source of keen information for business specialists. It furnishes the Artificial Intelligence in Retail business outline with development investigation and historical and futuristic cost analysis, income, demand, and supply information (upcoming identifiers). The research analysts give a detailed depiction of the Artificial Intelligence in Retail worth chain and its wholesaler examination. Artificial Intelligence in Retail Market study gives extensive information which upgrades the agreement, degree, and use of this report.
The Artificial Intelligence in Retail Market was valued at USD 1.80 billion in 2020 and is expected to reach USD 10.90 billion by 2026, at a CAGR of 35% over the forecast period 2021 - 2026.
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Top Leading Companies of Artificial Intelligence in Retail Market are Style.ai, Google LLC, Daisy Intelligence, IBM Corporation, Microsoft Corporation, Plexure Ltd, Versium Analytics Inc., Findmine Inc., SAP SE, Salesforce.com Inc., Conversica Inc., BloomReach Inc., Sentient Technologies Holdings Limited, Focal Systems Inc., ViSenze Pte Ltd and others.
-Artificial Intelligence in Retail Market Analysis
-Industry News And Updates on Artificial Intelligence in Retail Market-
North America Accounts for the Largest Share
- North America is expected to dominate the market with the largest market share mainly because of the presence of several developed economies, such as the United States and Canada, focusing on enhancing the existing solutions in the retail space. North America hosts the primary AI solution providers and is an early adopter of AI technology.
- Many retailers in this region have deployed AI-based solutions to optimize their supply chain operations and inventory. AI is helping the retailers in managing and maintaining their customers and understanding the buying patterns of the consumers. To engage customers and improve sales turnover, AI technologies are being adopted by both online and offline retail businesses.
-Key Market Trends Artificial Intelligence in Retail Market-
Product Optimization Segment is Expected to Hold Significant Share
- Product recommendation and planning will be the growing area for AI in the retail sector. The advancement in Big Data analytics will drive the growing adoption of artificial enabled devices and services across different industrial domains and verticals.
- There is a range of different technologies involved in AI and Big Data, including machine learning, natural language processing, deep learning, and more for the automated machine-driven decisions.
- According to the Consumer Technology Association, AI has different benefits in the retail industry like cost saving, increased productivity, faster resolution of business problems, faster delivery of new products and services, increase in innovation which is rapidly making its way into many advanced solutions, including autonomous vehicles, smart bots, advanced predictive analytics, in the retail space. This factor is expected to improve customer analytics and behavior experience raising significance of product optimization.
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