According to a new report published by UnivDatos, the AI in Retail Market is expected to grow at a CAGR of around 32% from 2022-2028. The analysis has been segmented into Type (Online and Offline) Technology (Machine Learning & Deep Learning, and Natural Language Processing (NLP); Deployment (On-Premises and Cloud Application (Location Based Marketing, Market Forecasting, In-Store visual monitoring, Advertising, Others); Region/Country.

Click here to view the Report Description & TOC - https://univdatos.com/reports/ai-in-retail-market

The AI in retail market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the AI in Retail Market. The AI in Retail Market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the AI in retail market at the global and regional levels.

Market Overview

Stores are using AI and advanced algorithms to understand what a customer might be interested in based on things like demographic data, social media behavior, and purchase patterns. Using this data, they can further improve the shopping experience and personalized service, both online and in stores.

The growing adoption of AI in retail is attributed to growing internet users and smart devices, increasing awareness about AI and big data & analytics, and government initiatives towards digitization. Furthermore, the adoption of the multichannel or omnichannel retailing strategy, untapped opportunities to increase sales efficiency, enterprises' demands for streamlining the business process, and the growing need to enhance end-user experience and take advantage of market dynamics are also contributing to the growth of the global AI in retail market. Moreover, the growing AI investments are also expected to significantly influence AI in retail market growth. For instance, in 2021, the global corporate AI investment reached 93.5 billion USD.

Some of the major players operating in the market include Amazon.com Inc, Google LLC, IBM Corporation, Intel Corporation, Microsoft Corporation, Nvidia Corporation, Oracle Corporation, SAP SE, Salesforce.com Inc, and BloomReach Inc.

Request for Sample Pages - https://univdatos.com/reports/ai-in-retail-market?popup=report-enquiry

COVID-19 Impact

Retail stores have been severely affected by the COVID-19 pandemic's aftermath because many of them had to close their doors or go completely online to stop the virus's spread. Despite the setbacks, analytics and AI in retail have assisted some retailers in surviving and adapting to the new situation.

The global AI in Retail Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

·        On the basis of technology, the market is segmented into machine learning & deep learning, and natural language processing (NLP). The machine learning and deep learning segment are expected to grow significantly during the forecast period. This is mainly due to the growing adoption of chatbots in online retail stores around the world. Chatbots offer various benefits such as cost savings, and contextual, AI-driven support, chatbots also help organizations analyze consumer data in a more refined manner.

·        Based on deployment, the market is segmented into on-premises and cloud. The cloud segment is expected to grow significantly during the forecast period. Cloud implementation is very cost-effective. Moreover, Several SMEs prefer adopting the cloud deployment model as it enables them to leverage marketing analytics software without making changes to the existing IT infrastructure. Furthermore, applications implemented on the cloud are accessible from anywhere.

AI in Retail Market Geographical Segmentation Includes:

·        North America (United States, Canada, and the Rest of North America)

·        Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)

·        Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)

·        Rest of the World

In 2020, the North American region is expected to grow with a significant CAGR during the forecast period. This is mainly due to the presence of major players in the region such as Google Inc, Microsoft Corporation IBM Corporation, Salesforce, and Amazon Web Services. Moreover, the United States and Canada are the countries in the region that are the early adopters of AI technology. Also, the growing number of AI startups in the USA and Canada is expected to significantly influence the market. Furthermore, the growing investments in the research and development of AI technology in the region are expected to drive the market.

The major players targeting the market include

·        Amazon.com Inc

·        Google LLC

·        IBM Corporation

·        Intel Corporation

·        Microsoft Corporation

·        Nvidia Corporation

·        Oracle Corporation

·        SAP SE

·        Salesforce.com Inc

·        BloomReach Inc.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the AI in Retail Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Related Reports

AI in Tourism Market: Current Analysis and Forecast (2024-2032)

Smart Ports Market: Current Analysis and Forecast (2021-2027)

Smart Watch Chips Market: Current Analysis and Forecast (2022-2028)

Conversational AI Market : Current Analysis and Forecast (2022-2030)

AI In Retail Market: Current Analysis and Forecast (2022-2028)

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the AI in retail market?

• Which factors are influencing the AI in retail market over the forecast period?

• What are the global challenges, threats, and risks in the AI in retail market?

• Which factors are propelling and restraining the AI in retail market?

• What are the demanding global regions of the AI in retail market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs. 

Contact Us:

UnivDatos

Contact Number - +19787330253

Email - contact@univdatos.com 

Website - www.univdatos.com

Linkedin- https://www.linkedin.com/company/univ-datos-market-insight/mycompany/