Artificial Intelligence in Retail Market to Reach USD 36.87 Billion by 2030, Growing at a CAGR of 23.87%
Artificial Intelligence in Retail Market to Reach USD 36.87 Billion by 2030, Growing at a CAGR of 23.87%
Revolutionizing Retail: AI Market to Witness Exponential Growth
Summary: The global Artificial Intelligence in Retail Market was valued at USD 8.24 billion in 2023 and is expected to grow at a CAGR of 23.87% from 2024 to 2030, reaching nearly USD 36.87 billion by 2030. This growth is driven by the increasing adoption of AI in customer relationship management, predictive merchandising, and supply chain optimization.
To learn more about the market analysis, read the Summary of the Research Report:maximizemarketresearch.com/request-sample/1..
Artificial Intelligence in Retail Market Overview
The Artificial Intelligence in Retail Market is undergoing rapid expansion, transforming the industry through automation, enhanced customer experiences, and data-driven decision-making. AI is reshaping retail through advanced analytics, personalized recommendations, and automated checkout systems. The increasing reliance on AI-driven solutions by major retailers is a key factor propelling market growth.
Market Size
Market Value (2023): USD 8.24 billion
Projected Market Value (2030): USD 36.87 billion
CAGR (2024-2030): 23.87%
The surge in AI adoption is largely due to the rising demand for automation in retail, increased customer expectations, and the need for improved operational efficiency.
Scope and Research Methodology
The research presents a comprehensive analysis of the Artificial Intelligence in Retail Market, covering multiple aspects such as components, applications, industry verticals, and geographical regions. The study was conducted using primary and secondary research methodologies, including data collection from major industry players and rigorous market analysis techniques.
Report Coverage
The report extensively covers:
Market trends and growth projections
Key drivers and challenges influencing the market
Industry developments and emerging opportunities
Competitive landscape and major players
Impact of COVID-19 on the retail AI sector
Market Dynamics
Drivers:
Rapid digital transformation in retail
Increasing demand for personalized shopping experiences
AI-powered inventory management and automation
Growth of e-commerce platforms integrating AI solutions
Challenges:
High initial investment costs
Data privacy and security concerns
Need for skilled professionals to manage AI-driven retail systems
Opportunities:
Advancements in AI-driven predictive analytics
Expansion of omnichannel retail experiences
AI integration in payment and fraud detection systems
Market Segmentation
By Type:
Online
Offline
By Solution:
Product Recommendation & Planning
Customer Relationship Management
Visual Search
Virtual Assistant
Price Optimization
Payment Services Management
Supply Chain Management & Demand Planning
By Technology:
Machine Learning & Deep Learning
Natural Language Processing
Others
By Deployment Mode:
Cloud
On-Premises
By Application:
Predictive Merchandising
Programmatic Advertising
Market Forecasting
In-Store Visual Monitoring & Surveillance
Location-Based Marketing
Key Players in the Artificial Intelligence in Retail Market
North America:
IBM Corporation
Microsoft Corporation
Amazon Web Services
Oracle
SAP
Google Inc.
NVIDIA Corporation
Intel Corporation
Asia-Pacific:
- Baidu Inc.
Global Players:
BloomReach Inc.
CognitiveScale Inc.
NEXT IT Corp.
RetailNext Inc.
Salesforce.com Inc.
Why You Should Buy This Report
Gain insights into market trends and forecasts for AI in retail
Understand regional growth potential and industry dynamics
Analyze key competitors and their market positioning
Identify investment opportunities and growth areas in AI adoption
Stay updated with emerging AI applications in the retail sector
Table of Contents:
Introduction
Market Overview
Market Dynamics
Market Segmentation
Regional Analysis
Competitive Landscape
Recent Developments
Future Outlook
Conclusion
To learn more about the market analysis, read the Summary of the Research Report:maximizemarketresearch.com/market-report/ar..
About Maximize Market Research
Maximize Market Research is a globally recognized market research and business consulting agency serving clients worldwide. With a revenue-focused approach and growth-driven insights, we have collaborated with numerous Fortune 500 organizations. Our expertise spans diverse industries, including IT & telecommunications, healthcare, aerospace, chemical, food & beverage, and many more.
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