Artificial Intelligence (AI) in Retail Market By Offering (Solutions, Services), By Type (Offline, Online), By Technology (Machine Learning, Natural Language Processing, Other), By Deployment (Cloud, On-premise), By Application (CRM, Supply Chain & L
The global artificial intelligence (AI) in retail market is expected to reach a valuation of US$ 85 billion by 2033, growing at a notable 30.3% CAGR from 2023 to 2033, according to Fact.MR, a supplier of market research and competitive intelligence.
A new era of company tracking operations to enhance corporate plans, provide better results, and interact with customers in the digital world is being ushered in by artificial intelligence in retail. Many well-known stores are facing increasing costs, unsatisfied customers, declining revenues, and escalating competition. In order to increase operational effectiveness and enhance consumer relations, retailers are embracing technological solutions.
Download Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8396?AS
The global artificial intelligence in retail market is rising rapidly due to factors such as greater knowledge of AI and big data analytics, increasing smart devices and internet users, growing amount of data in the retail industry, and strong government digitization programs. Moreover, the acceptance of an omnichannel or multichannel retailing strategy, enterprise requirements for streamlining business processes, untapped possibilities to boost sales efficiency, and the expanding need to improve end-user experience and capitalize on market dynamics are all contributing to global market growth.
Key Takeaways from Market Study
“AI is rapidly altering the retail industry by enabling businesses to personalize customer experiences, streamline supply chains, and boost operational efficiency. AI is also helping businesses obtain important insights into customer behavior and preferences, which can then be utilized to build more targeted and efficient marketing efforts,” says a Fact.MR analyst.
Market Titans
Winning Strategy
Leading companies are concentrating on launching innovative solutions to broaden their presence and gain market share.
Competitive Landscape
Key providers of artificial intelligence for retail are constantly investing in innovative solutions. Furthermore, key players are using partnership, merger, and acquisition tactics to increase market share. Moreover, many start-ups are focusing on new developments to provide novel AI-driven solutions.
Key Segments of AI in Retail Industry Research
Regional Analysis
North America controls the majority of global revenue. To improve customer service efficiency, retailers in the region are concentrating on extracting accessible data on customer preferences. The United States is the leading market in North America. The country is currently investing heavily in AI technology. Due to the increased demand for technology, the United States is also seeing the emergence of new small businesses and start-ups.
Asia Pacific and Europe are following North America in terms of development. The retail industry in Asia Pacific is undergoing a fast transformation. As a result, there is a greater demand for modern technologies to enhance operations and the customer experience.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global artificial intelligence (AI) in retail market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study divulges essential insights on the market based on offering (solutions, services), type (offline, online), technology (machine learning, natural language processing, computer vision, other technologies), deployment (cloud, on-premise), and application (customer relationship management (CRM), supply chain and logistics, inventory management, product optimizations, in-store navigation, payment and pricing analytics, virtual assistants), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).
Key Questions Covered in the Artificial Intelligence (AI) in Retail Market Report
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=8396?AS
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year.
Jun 19, 2023
Latest News