Global 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%
Summary: The global Artificial Intelligence (AI) in Retail Market was valued at USD 8.24 billion in 2023 and is projected to grow significantly at a compound annual growth rate (CAGR) of 23.87%, reaching approximately USD 36.87 billion by 2030. The rise in consumer demand for personalized experiences, increased adoption of AI-powered retail solutions, and technological advancements are expected to drive this robust growth. This report provides an in-depth analysis of market trends, segmentation, and key players shaping the future of AI in the retail industry.
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Market Size
The global Artificial Intelligence in Retail Market size stood at USD 8.24 billion in 2023. The market is expected to grow rapidly at a CAGR of 23.87%, with a forecasted value of USD 36.87 billion by 2030. This surge can be attributed to the growing demand for innovative, customer-centric solutions and the implementation of AI technologies such as machine learning, natural language processing, and data analytics across retail operations.
Scope and Research Methodology
This research report is based on a combination of primary and secondary research methodologies, ensuring accurate data collection and comprehensive market analysis. The study draws insights from global market surveys, reports from leading industry analysts, interviews with key stakeholders, and data from authoritative government publications. The report provides detailed segmentation, market forecasting, and key trends driving growth within the retail industry.
Report Coverage
Market Overview: Provides a detailed examination of the global AI in retail landscape, including growth drivers, market trends, and future opportunities.
Segmentation Analysis: Breaks down the market into types, solutions, technologies, and deployment modes, offering insights into the most lucrative segments.
Competitive Landscape: Covers key players, their strategies, innovations, and market shares.
Impact of COVID-19: Analyzes how the pandemic has affected the market dynamics and future projections.
Geographic Insights: Includes a regional breakdown, focusing on North America, Europe, Asia Pacific, and other key regions.
Overview
The global Artificial Intelligence in Retail market is experiencing unprecedented growth as retailers adopt advanced AI technologies to enhance customer experiences, optimize operations, and drive better business outcomes. From AI-driven customer service chatbots to product recommendation systems, retailers are leveraging AI to streamline processes and provide tailored shopping experiences. As consumer preferences continue to evolve, the market for AI-powered solutions in the retail sector is expected to witness substantial expansion.
Dynamics
Several factors are driving the growth of AI in the retail market:
Consumer Demand for Personalization: AI enables retailers to offer hyper-personalized shopping experiences, increasing consumer satisfaction and brand loyalty.
Technological Advancements: The integration of machine learning, deep learning, and natural language processing technologies is transforming retail operations.
Cost Efficiency: AI-driven automation and predictive analytics help retailers reduce operational costs while enhancing productivity and decision-making.
Emerging Applications: Innovations such as predictive merchandising, programmatic advertising, and AI-powered supply chain management are gaining traction.
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
Others
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 and Surveillance
Location-Based Marketing
Other
Key Players Include
IBM Corporation
Microsoft Corporation
Amazon Web Services (AWS)
Oracle
SAP
Google Inc.
NVIDIA Corporation
Intel Corporation
Sentient Technologies
Salesforce
Reason to Buy
Strategic Insights: Gain valuable insights to help make informed decisions and capture emerging opportunities.
Market Forecasting: Understand the projected growth trajectory and how your business can benefit from these trends.
Competitive Analysis: Learn about key competitors and their strategies, innovations, and market shares.
Customization: Tailor the research to your specific business needs, whether it's market entry or expanding into new regions.
Table of Contents
Introduction
Executive Summary
Market Dynamics
Market Size and Forecasts
Market Segmentation
Competitive Landscape
Regional Analysis
Impact of COVID-19 on the AI in Retail Market
Key Market Players and Strategies
Conclusion
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About Us
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