Global Artificial Intelligence (AI) In Retail Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities

The Artificial Intelligence (AI) In Retail Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Artificial Intelligence (AI) In Retail Market Size Expected to Be by 2034?
The market size of artificial intelligence (AI) in retail has witnessed rapid expansion in the past few years. This market is projected to burgeon from $11.9 billion in 2024 to an estimated $15.51 billion in 2025, showing a compound annual growth rate (CAGR) of 30.3%. The augmentation in this historical period owes to the growth of AI implementations in retail, heightened need for surveillance and monitoring, swift deployment of AI-powered solutions, advancements in computer vision technology, and the surging demand for efficient operations.

In the forTH*Coming years, the market size of artificial intelligence (AI) in retail is anticipated to witness a boom, expanding to $44.43 billion by 2029 with a compound annual growth rate (CAGR) of 30.1%. Factors contributing to this surge during the forecasted period include anticipated market growth, the transformational impact of AI, favorable international market outlook, rising competition, and demand-side trends. The forecasted period also foresees major trends such as the increased utilization of machine learning, surging demand for AI services, improved user experience and productivity, along with regional market extension.

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What Are the Emerging Segments Within the Artificial Intelligence (AI) In Retail Market?
The artificial intelligence (AI) in retail market covered in this report is segmented -

1) By Component: Solution, Service
2) By Technology: Machine Learning, Natural Language Processing, Chatbots, Image And Video Analytics, Swarm Intelligence
3) By Deployment: Cloud, On-Premise
4) By Channel: Omnichannel, Brick And Mortar, Pure-Play Online Retailers
5) By Application: Customer Relationship Management, Supply Chain And Logistics In-Store, Navigation Inventory Management, Product Optimization, Payment And Pricing Analytics

Subsegments:
1) By Solution: Predictive Analytics, Customer Relationship Management (CRM), Inventory Management, Visual Search, Personalization Engines, Fraud Detection
2) By Service: Consulting Services, Implementation Services, Support And Maintenance, Managed Services

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What Long-Term Drivers Are Shaping Artificial Intelligence (AI) In Retail Market Trends?
The surge in artificial intelligence (AI) within the retail market is being spurred on by the sweeping digitization transformation taking place within the retail industry. This shift to digitization involves a comprehensive and strategic merging of digital technologies, processes, and capabilities within various facets of an organization. Retailers around the world have begun implementing digital procedures and improving customer experiences, resulting in a heightened demand for AI solutions. This incorporation of AI in retail - a mandate driven by the movement towards digitization - encourages innovation in areas like automation, personalized marketing, and trend forecasting, helping streamline operations and revealing valuable insights into customer behavior. A survey conducted by US-based manufacturer and technology firm NVIDIA Corporation in January 2024, for example, revealed that 69% of retailers cited increased yearly revenue thanks to AI implementation, while 72% reported decreased operational costs. Furthermore, more than 60% intend to ramp up their investments in AI over the coming 18 months. Consequently, the digital transformation taking place in the retail industry is fueling artificial intelligence's expansion within the retail market.

Who Are the Top Competitors in Key Artificial Intelligence (AI) In Retail Market Segments?
Major companies operating in the artificial intelligence (AI) in retail market are Google LLC, Microsoft Corporation, Amazon Web Services, Intel Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Presto, NVIDIA Corporation, Salesforce Inc., Baidu Inc., ViSenze, Travelport, Databricks, DATAIKU, Symbotic, BloomReach Inc., Trax, Interactions LLC, Featurespace, RetailNext Inc., Trigo, Standard Cognition, CognitiveScale Inc., BrainBox AI, Inbenta Technologies, Next IT Corp., Infinite Analytics, Lexalytics Inc., Sentient Technologies

What Artificial Intelligence (AI) In Retail Market Trends Are Gaining Traction Across Different Segments?
Major corporations in the artificial intelligence (AI) retail market are focusing on developing progressive technologies, such as cloud-based solutions, to foster innovation and boost effectiveness in the retail sector. Cloud-based solutions consist of computing services like storage, processing, and software applications, which are provided via the internet (cloud) rather than depending on local servers or conventional computing infrastructure. For example, in October 2023, Flipkart Private Limited, a company based in India that specializes in e-commerce, introduced Flipkart Commerce Cloud. This product is designed to assist retailers globally in expanding their businesses and addressing their operational requirements via intelligent and AI-driven solutions. This platform proposes retail technology solutions for global retailers, marketplaces, and e-commerce platforms. The range of solutions provided encompasses a comprehensive marketplace technology stack, retail media solution, pricing solution, inventory management, and forecasting solutions, all founded on artificial intelligence and machine learning.

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Which Regions Are Becoming Hubs for Artificial Intelligence (AI) In Retail Market Innovation?
North America was the largest region in the artificial intelligence (AI) in retail market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Artificial Intelligence (AI) In Retail Market?
2. What is the CAGR expected in the Artificial Intelligence (AI) In Retail Market?
3. What Are the Key Innovations Transforming the Artificial Intelligence (AI) In Retail Industry?
4. Which Region Is Leading the Artificial Intelligence (AI) In Retail Market?

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