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Artificial Intelligence (AI) Market in Retail Sector 2019-2023

  • Published: Jul 2019
  • Pages: 138
  • SKU: IRTNTR31763
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The global artificial intelligence in retail market size will grow by USD 14.05 billion during 2019-2023. This market report provides a detailed analysis of the market by application (sales and marketing, in-store, planning, procurement, and production; and logistics management) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on many market vendors, including IBM Corp., Intel Corp., Microsoft Corp., NVIDIA Corp., and Oracle Corp.

Some of the key findings from our artificial intelligence in retail market forecast report are summarized below

Artificial Intelligence in Retail Market

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Global Artificial Intelligence (AI) in Retail Industry Overview

Manufacturers and consumer product companies are increasingly focusing on implementing robotics to improve the efficiency of production and packaging lines. Many retailers have adopted AI-powered automation in their core operations. For instance, Walmart has been using AI and Big Data to identify gaps in its online product offerings. The company has been using AI to scan its e-commerce landscape to collect insights on emerging products. These factors are increasing revenue generation for market vendors. Therefore, increased efficiency of operations with the use of AI and Big Data is one of the key artificial intelligence in retail market growth drivers. The artificial intelligence market in the retail sector will record a CAGR of over 35% during the forecast period.

E-commerce providers and retailers are integrating AI with various applications such as planning and procurement, inventory management and sales forecasting, production, supply management, in-store operations, and marketing. AI-enabled smart solutions that the e-commerce industry is deploying are chatbots, advanced visual search engines, and personalized recommendations, which are improving the shopping experience of customers. As a result, sales are increasing, and customer satisfaction is improving. Therefore, large and small e-commerce brands are deploying AI in some form or the other. The increased applications of AI in e-commerce is one of the key artificial intelligence in retail market trends. The trend will contribute to the retail AI market growth during the forecast period.

Top Artificial Intelligence (AI) in Retail Companies Covered in this Market Research Report

The global artificial intelligence in retail market is moderately fragmented. To help clients improve their market positions, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. This artificial intelligence in retail market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.

The report offers a detailed analysis of several leading artificial intelligence in retail manufacturers, including:

  • IBM Corp.
  • Intel Corp.
  • Microsoft Corp.
  • NVIDIA Corp.
  • Oracle Corp.

Artificial Intelligence (AI) in Retail Market Segmentation Based on Application

  • Sales and marketing
  • In-store
  • Planning, procurement, and production
  • Logistics management

The sales and marketing segment held the largest market share in 2018. It will account for the highest global artificial intelligence in retail market share over the forecast period. Optimization of sales and marketing functions and increasing focus on customer preferences and personalization are expected to boost the demand for AI in sales and marketing during the forthcoming years. This report provides an accurate prediction of the contribution of all the segments to the growth of artificial intelligence in retail market size.

Artificial Intelligence (AI) in Retail Market Segmentation Based on Geographic Region

  • APAC
  • Europe
  • MEA
  • North America
  • South America

With a complete study of the growth opportunities for the companies, it has been identified that North America will account for the highest share of the artificial intelligence in retail market throughout the forecast period. Factors such as early adoption of AI, rising investments in R&D and start-ups, and increasing investments in technologies are contributing to the artificial intelligence in the retail market growth in the region.

Key Highlights of the Global Artificial Intelligence (AI) in Retail Market for the Forecast Years 2019-2023

  • CAGR of the market during the forecast period 2019-2023
  • Detailed information on factors that will accelerate the growth of the artificial intelligence in retail market during the next five years
  • Precise estimation of the global artificial intelligence in retail market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of artificial intelligence in the retail industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on several vendors
  • Comprehensive details of factors that will challenge the growth of artificial intelligence in retail companies 

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY APPLICATION

  • Market segmentation by application
  • Comparison by application
  • Sales and marketing - Market size and forecast 2018-2023
  • In-store - Market size and forecast 2018-2023
  • Planning, procurement, and production - Market size and forecast 2018-2023
  • Logistics management - Market size and forecast 2018-2023
  • Market opportunity by application

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2018-2023
  • APAC - Market size and forecast 2018-2023
  • Europe - Market size and forecast 2018-2023
  • MEA - Market size and forecast 2018-2023
  • South America - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 11: MARKET TRENDS

  • Increased applications in e-commerce
  • Increased availability of cloud-based applications
  • Bridging offline and online experiences

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • IBM Corp.
  • Intel Corp.
  • Microsoft Corp.
  • NVIDIA Corp.
  • Oracle Corp.

PART 14: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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