Press release
Artificial Intelligence in Retail Market Analysis Covering Current and Future Growth, Trend, Feasibility and Regional Outlook to 2028, Fortune Business Insights
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The global Artificial Intelligence in retail market is projected to grow from $4.84 billion in 2021 to $31.18 billion in 2028 at a CAGR of 30.5%
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Key Development:
April 2019: Warby Parker, an American online retailer of prescription glasses and sunglasses announced that it will provide virtual try-on features to its customers. The technology allows them to try-on virtual frames by using augmented reality (AR) which overlays computer-generated images (frames) into real-world images.
The Report Lists the Main Companies in the Artificial Intelligence (AI) in Retail Market:
com, Inc. (Seattle, Washington, United States)
Google LLC (Mountain View, California, United States)
IBM Corporation (Armonk, New York, United States)
Intel Corporation (Santa Clara, California, United States)
Microsoft Corporation (Redmond, Washington, United States)
Nvidia Corporation (Santa Clara, California, United States)
Oracle Corporation (Redwood City, California, United States)
SAP SE (Walldorf, Germany)
com, Inc. (San Francisco, California, United States)
BloomReach, Inc. (Mountain View, United States)
Sentient Technologies (San Francisco, California, United States)
Conversica Inc. (Foster City, California, United States)
Sentient Technologies Holdings Limited (San Francisco, California, United States)
ViSenze Pte Ltd (Singapore)
Baidu Inc. (Beijing, China)
CognitiveScale Inc (Austin, Texas, United States)
Inbenta Technologies (Foster City, California, United States)
NEXT IT Corp. (Redwood City, California, United States)
RetailNext Inc. (San Jose, California, United States)
Market Driver:
Trending AI-Driven Chatbots in Retail Industry to Drive Market
The growing focus towards enriched loyal customer base in the retail industry will spur opportunities for the market. Companies are constantly implementing strategies to offer personalized experiences and in turn, attain loyalty and customer engagement. The rising use of AI-powered chatbots for enhanced user experience will effectively enable expansion of the market. The escalating popularity of online and in-store chatbots is expected to contribute positively to the AI in retail market. The chatbots can resolve shopping-related queries of customers using AI-configured algorithms for quick and easy responses. The advantages of chatbots such as personalized and, on-demand support and suggestions for enhanced user experience will subsequently favor the industry.
Elevated AI Demand to Facilitate Business During COVID-19
The rising application of AI due to its convivence and user-friendliness will aid the development of the market amid coronavirus. The major shift in the retail shopping patterns of customers has led to substantial use of e-commerce and online shopping websites. This has resulted in the popularity of AI in retail shopping among companies. The surging online sales will consequently promote the market during the pandemic. Besides, the growing proclivity of customers towards AI-based shopping experience will uplift the market potential.
The report on AI in the Retail Market highlights:
Grand analysis of the market
Vital insights into the industry
All-inclusive data about dominant regions
Important information about competitors
COVID-19 effect on the market
Regional Analysis:
Rising Investment in AI Research to Augment Growth in Europe
The market in Europe is expected to witness a growth rate during the forecast period owing to the presence of a large retail supply chain. The rising use of artificial intelligence and AR/VR solutions in the apparel industry will further drive the market in the region. Moreover, the growing investments in artificial intelligence research by major companies will create numerous opportunities for the market in Europe. The market in Asia Pacific is predicted to rise tremendously during the forecast period due to the emerging e-commerce companies in countries such as India and China.
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Key Segmental Overview:
1. By Offering
Solution
Services
2. By Function
Operation-Focused
Customer-Facing
3. By Technology
Computer Vision
Machine Learning
Natural Language Processing
Others (Speech Recognition, Deep Learning, and Robotics)
4. ByRegion
North America (The U.S., and Canada)
Europe (The U.K., Germany, France, Scandinavia, and Rest of Europe)
Asia Pacific (China, Japan, India, Southeast Asia, and Rest of Asia Pacific)
Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)
Latin America (Mexico, Brazil, and Rest of Latin America)
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What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
KEY QUESTIONS ANSWERED:
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the Europe Prothrombin Complex Concentrate Market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
Research Methodology:
We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.
The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
Key questions answered in Artificial Intelligence (AI) in Retail Market report:
What will the market growth rate of Artificial Intelligence (AI) in Retail Market in 2021?
What are the key factors driving the global Artificial Intelligence (AI) in Retail Market?
Who are the key manufacturers in Artificial Intelligence (AI) in Retail Market space?
What are the market opportunities, market risk and market over view of the Artificial Intelligence (AI) in Retail Market?
What are sales, revenue, and price analysis of top manufacturers of Artificial Intelligence (AI) in Retail Market?
Who are the distributors, traders and dealers of Artificial Intelligence (AI) in Retail Market?
What are the Artificial Intelligence (AI) in Retail Market opportunities and threats faced by the vendors in the global Artificial Intelligence (AI) in Retail Market?
What are sales, revenue, and price analysis by types and applications of Artificial Intelligence (AI) in Retail Market?
What are sales, revenue, and price analysis by regions of Artificial Intelligence (AI) in Retail Market?
With tables and figures helping analyze worldwide Global Artificial Intelligence (AI) in Retail Market Forecast this research provides key statistics on the state of the industry and should be a valuable source of guidance and direction for companies and individuals interested in the market.
Table of Content -
Introduction
Definition, By Segment
Research Methodology/Approach
Data Sources
Executive Summary
Market Dynamics
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Short-term Impact
Long-term Impact
Competition Landscape
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
Porter's Five Force Analysis
Global Artificial Intelligence (AI) in Retail Market Share Analysis and Matrix, 2019
Key Market Insights and Analysis, By Segments
Global Artificial Intelligence (AI) in Retail Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
By Offering (Value)
Solution
Services
By Function (Value)
Operations-Focused
Customer-Facing
By Technology (Value)
Computer Vision
Machine Learning
Natural Language Processing
Others
By Region (Value)
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
TOC Continued...
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