NEW YORK, June 29, 2022 /PRNewswire/ — The report “Artificial Intelligence (AI) in the Retail Industry Market – Competitive Analysis, Drivers, Trends, Challenges and Five Forces Analysis” has been added to Technavio’s offering. Artificial Intelligence (AI) in Retail Market Market Value is Expected to Grow by $29.57 billionat CAGR of 35.69% from 2021 to 2026.
40% of market growth will come from North America during the forecast period. The United States and Canada are the main markets for artificial intelligence (AI) in the retail sector in North America. The growth of the market in this region will be faster than the growth of the market in South America and AEM. Significant increase in investments in technology and early adoption of AI will facilitate the growth of the artificial intelligence (AI) in retail sector market in North America over the forecast period.
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Market dynamics
The key factor driving the growth of the global artificial intelligence (AI) market in the retail sector is the rise of investment and R&D in AI startups. Many governments have developed formal AI frameworks and strategies, such as the US Executive Order on US AI Leadership, China Development plan for next-generation artificial intelligence and AI Made in Germanyall of which aim to stimulate economic and technological growth.
However, the main challenge to the growth of the global market for artificial intelligence in the retail sector is the privacy issues associated with AI deployment. Using advanced data mining techniques, data is collected on several parameters such as customer’s shopping habits, online behavior and payment information.
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Company Profiles
The market for artificial intelligence (AI) in the retail sector is fragmented and sellers are deploying growth strategies such as pricing and marketing strategies and product differentiation to compete in the market.
Some of the companies covered in this report are Accenture Plc, Amazon.com Inc., BloomReach Inc., Capgemini SE, Daisy Intelligence Corp., Element AI Inc., Evolv Technology Solutions Inc., Inbenta Technologies Inc., Infosys Ltd., Intel Corp., International Business Machines Corp. , Mad Street Den Inc., Microsoft Corp., NVIDIA Corp., Oracle Corp., Plexure Group Ltd., Salesforce.com Inc., SAP SE, Symphony Retail Solutions and Trax Technology Solutions Pte. Ltd., etc.
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Competitive analysis
The competitive scenario provided in the Artificial Intelligence (AI) in Retail Sector market report analyzes, evaluates and positions the companies based on various performance indicators. Some of the factors taken into account for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, market share growth, etc.
Segmentation analysis
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By Application, the market is categorized into sales and marketing, in-store, PPP, and logistics management.
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By Geography, the market is classified as North AmericaACPA, Europethe Middle East and Africaand South America.
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Market Scope of Artificial Intelligence (AI) in the Retail Industry |
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Report cover |
Details |
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Page number |
120 |
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Year of reference |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum and CAGR |
Accelerate at a CAGR of 35.69% |
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Market Growth 2022-2026 |
$29.57 billion |
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Market structure |
Fragmented |
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Annual growth (%) |
31.45 |
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Regional analysis |
North America, APAC, Europe, Middle East and Africa and South America |
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Successful market contribution |
North America at 40% |
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Main consumer countries |
United States, Canada, China, Japan and United Kingdom |
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Competitive landscape |
Leading Companies, Competitive Strategies, Consumer Engagement Reach |
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Profiled Key Companies |
Accenture Plc, Amazon.com Inc., BloomReach Inc., Capgemini SE, Daisy Intelligence Corp., Element AI Inc., Evolv Technology Solutions Inc., Inbenta Technologies Inc., Infosys Ltd., Intel Corp., International Business Machines Corp. , Mad Street Den Inc., Microsoft Corp., NVIDIA Corp., Oracle Corp., Plexure Group Ltd., Salesforce.com Inc., SAP SE, Symphony Retail Solutions and Trax Technology Solutions Pte. ltd. |
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Market dynamics |
Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Recovery Analysis and Future Consumer Dynamics, Market Status Analysis for the forecast period |
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Personalization area |
If our report does not include the data you are looking for, you can contact our analysts and customize the segments. |
Contents
1. Summary
2 Market landscape
3 Market sizing
4 Five forces analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic landscape
8 drivers, challenges and trends
9 Supplier Landscape
10 Vendor Analysis
11 Appendix
About Us
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