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Artificial Intelligence for Retail Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports
Artificial Intelligence for Retail Market SizeAccording to new survey, global Artificial Intelligence for Retail market is projected to reach US$ 1249.7 million in 2029, increasing from US$ 942.3 million in 2022, with the CAGR of 3.2% during the period of 2023 to 2029.
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Artificial Intelligence for Retail Market
Artificial Intelligence (AI) for retail refers to the application of artificial intelligence and machine learning technologies in various aspects of the retail industry to enhance and optimize operations, customer experiences, and decision-making processes. AI is employed to analyze vast amounts of data, gain insights, and automate tasks, ultimately leading to improved efficiency, customer satisfaction, and profitability in retail businesses.
As an important force driving a new round of scientific and technological revolution, artificial intelligence has been of national strategic importance. Many governments introduces polices and increase capital investment to support AI companies. The Digital Europe plan adopted by the European Union will allocate €9.2 billion on high-tech investments, such as supercomputing, artificial intelligence, and network security. In order to maintain its leading position, the United States will increase its investment in artificial intelligence research and development in non-defense fields, from US$1.6 billion to US$1.7 billion in 2022. According to the latest data released by IDC, global artificial intelligence revenue was US$432.8 billion in 2022, a year-on-year increase of 19.116%, including software, hardware and services.
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Segment by Type
• Cloud-based
• On-Premises
Segment by Application
• SMEs
• Large Enterprise
By Company
Intel, Hitachi Solutions, DataRobot, Alibaba Cloud, Microsoft AI, Fujitsu, AWS, Huawei, Oracle, Google Cloud, Haystream, Habana, IBM, SymphonyAI, NVIDIA, SAP Industry, Salesforce Inc.
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