Artificial Intelligence In Retail Market - Global Industry Analysis

Artificial Intelligence In Retail Market – By Deployment (Cloud and On-Premise), By Application (Supply Chain and Logistics, Product Optimization, In-Store Navigation, Payment and Pricing Analytics, Inventory Management, and Customer Relationship Management), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Published Date: 28-May-2021 Category: Technology & Media Report Format : PDF Pages: 120 Report Code: ZMR-6335 Status : Published

The global Artificial Intelligence In Retail market, which was estimated at about 1.18 (USD Billion) in 2019 and is predicted to accrue earnings worth 10.11 (USD Billion) by 2026, is set to record a CAGR of nearly over 34.5% during 2020-2026.

Description

Artificial Intelligence In Retail Market Size

The global Artificial Intelligence In the Retail market, which was estimated at about 1.18 (USD Billion) in 2019 and is predicted to accrue earnings worth 10.11 (USD Billion) by 2026, is set to record a CAGR of nearly 34.5% during 2020-2026.  The report offers a valuation and analysis of Artificial Intelligence In the Retail market on a global as well as regional level.

The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).

Report Scope :

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

To know more about this report, request a sample copy.

Artificial Intelligence In Retail Market: Overview

The integration of artificial intelligence and retail systems helps in enhancing the end-user experience and provides accuracy in forecasting. Apart from this, AI helps in improving the efficacy of inventory management operations in the retail sector.

Furthermore, AI is influencing the retail sector and it makes use of computer vision for customizing real-time promotions across the retail sector. Additionally, retailers can make effective use of AI tools to proficiently interact with the customers and thereby enhance the efficiency of inventory management operations as well as other retail activities.

Furthermore, AI will help in reshaping retail business along with improving the value chain activities. With artificial intelligence projected to create huge growth potential for merchandising, artificial intelligence in the retail industry is likely to grow at an enhanced velocity in the foreseeable future. Apparently, AI also helps in easing product searches for customers in retail stores, and this will enlarge the use of AI in retail business in the coming decade.

Artificial Intelligence In Retail Market: Growth Drivers

Integration of advanced analytics and AI is likely to help the retail ecosystem expand by leaps & bounds over the assessment period. With online shopping replacing brick & mortar retail units, artificial intelligence in retail activities has become a key focus for enterprises. This will not only assist in the creation of a strong platform for AI application in retail business but will also help in laying strong foundations of growth for artificial intelligence in the retail market.

With customers consistently looking for personalized products & services, AI services in the retail business are assisting retail stores in understanding customer preferences, thereby offering new products aligning with customer requirements & tastes. Furthermore, the disruptive effect of AI in the retail industry is also experienced in value chain activities. In addition to this, artificial intelligence is evolving as a robust tool for retail brands in gaining a competitive edge, thereby resulting in an increment in the scope of the use of artificial intelligence in the retail market.

Moreover, some of the major benefits offered by AI to retail stores include automating in-store functionalities and reducing of operational expenditure of retail units. AI also facilitates cashless transactions, offers real-time stock monitoring services, and digitizes store displays. All these aspects are anticipated to steer the expansion of artificial intelligence in the retail industry over the forecast period.

In addition to this, retailers can improve customer service and optimize the time of customers by using AI tools. AI-based interactive Chatbots can facilitate effective two-way communication between customers & retail store executives.

Apparently, AI tools can provide comprehensive information about pricing strategy as well as dynamic pricing & multiple pricing models to retail stores including supermarkets & hypermarkets. This will help the retailers in adjusting product costs as per buying trends of consumers based on different seasons. All these aforementioned factors will help in optimizing the growth of artificial intelligence in the retail sector over the forecast timeframe.

Regional Landscape

North America To Dominate Market Growth Over 2020-2026

The expansion of artificial intelligence in the retail industry over the forecast timeline is attributed to the presence of online shopping such as Amazon, Inc. and retail firms like The Kroger Company in the U.S. Reportedly, Amazon introduced Amazon Go as well as Just Walk Out Shopping tools to reduce queues during payment. Apparently, Kroger, a retail firm based in the U.S., launched Kroger's edge technology that helps in replacing conventional shelves in its retail stores with digital ones, thereby reducing costs. With AI facilitating inventory planning as well as improving & easing logistics & supply chain management operations, the market in the sub-continent is anticipated to witness an increment in growth over the forecast period.

Competitive Landscape

Key players profiled in the study include Microsoft Corporation, NVIDIA Corporation, IBM Corporation, Intel Corporation, Google Inc., Salesforce, Sentient Technologies, and Amazon Web Services. 

The global Artificial Intelligence in Retail Market is segmented as follows:

By Application:

By Deployment:

  • Cloud
  • On-Premise

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodology
      • 1.3.1. Market Research Process
      • 1.3.2. Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1. Artificial Intelligence in Retail Market, 2016–2026 (USD Billion)
    • 2.2. Artificial Intelligence in Retail Market: Snapshot
  • Chapter 3. Global Artificial Intelligence in Retail Market– Industry Analysis
    • 3.1. Artificial Intelligence in Retail Market: Market Dynamics
    • 3.2. Market Drivers
      • 3.2.1. Artificial intelligence is evulving as a robust toul for retail brands in gaining competitive edge, thereby resulting in increment in scope of the use of artificial intelligence in retail market.
      • 3.2.2. Some of the major benefits offered by AI to retail stores include automating of in-store functionalities and reduction of operational expenditure of retail units. AI also facilitates cashless transactions, offers real-time stock monitoring services, and digitize store displays. All these aspects are anticipated to steer the expansion of artificial intelligence in retail industry over the forecast period.
    • 3.3. Porter’s Five Forces Analysis
    • 3.4. Market Attractiveness Analysis
      • 3.4.1. Market attractiveness analysis By Application
      • 3.4.2. Market attractiveness analysis By Deployment
  • Chapter 4. Global Artificial Intelligence in Retail Market– Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global Artificial Intelligence in Retail Market: company market share, 2018
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New Technology launches
      • 4.2.3. Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4. Research and development and Regional expansion
    • 4.3. Price trend analysis
  • Chapter 5. Global Artificial Intelligence in Retail Market– Application Analysis
    • 5.1. Global Artificial Intelligence in Retail Market overview: By Application
      • 5.1.1. Global Artificial Intelligence in Retail Market share, By Application , 2019 and 2026
    • 5.2. Supply Chain and Logistics
      • 5.2.1. Global Artificial Intelligence in Retail Market By Supply Chain and Logistics, 2016–2026 (USD Billion)
    • 5.3. PRODUCT OPTIMIZATION
      • 5.3.1. Global Artificial Intelligence in Retail Market By PRODUCT OPTIMIZATION, 2016–2026 (USD Billion)
    • 5.4. In-Store Navigation
      • 5.4.1. Global Artificial Intelligence in Retail Market By In-Store Navigation, 2016–2026 (USD Billion)
    • 5.5. Payment and Pricing Analytics
      • 5.5.1. Global Artificial Intelligence in Retail Market By Payment and Pricing Analytics, 2016–2026 (USD Billion)
    • 5.6. Inventory Management
      • 5.6.1. Global Artificial Intelligence in Retail Market By Inventory Management, 2016–2026 (USD Billion)
    • 5.7. Customer Relationship Management
      • 5.7.1. Global Artificial Intelligence in Retail Market By Customer Relationship Management, 2016–2026 (USD Billion)
  • Chapter 6. Global Artificial Intelligence in Retail Market– Deployment Analysis
    • 6.1. Global Artificial Intelligence in Retail Market overview: By Deployment
      • 6.1.1. Global Artificial Intelligence in Retail Market share, By Deployment, 2019 and 2026
    • 6.2. Cloud
      • 6.2.1. Global Artificial Intelligence in Retail Market By Cloud , 2016–2026 (USD Billion)
    • 6.3. On-Premise
      • 6.3.1. Global Artificial Intelligence in Retail Market By On-Premise, 2016–2026 (USD Billion)
  • Chapter 7. Company Profiles
    • 7.1. NVIDIA Corporation
      • 7.1.1. Overview
      • 7.1.2. Financials
      • 7.1.3. Technology Portfolio
      • 7.1.4. Business Strategy
      • 7.1.5. Recent Developments
    • 7.2. Microsoft Corporation
      • 7.2.1. Overview
      • 7.2.2. Financials
      • 7.2.3. Technology Portfolio
      • 7.2.4. Business Strategy
      • 7.2.5. Recent Developments
    • 7.3. Intel Corporation
      • 7.3.1. Overview
      • 7.3.2. Financials
      • 7.3.3. Technology Portfolio
      • 7.3.4. Business Strategy
      • 7.3.5. Recent Developments
    • 7.4. Sentient Technulogies
      • 7.4.1. Overview
      • 7.4.2. Financials
      • 7.4.3. Technology Portfolio
      • 7.4.4. Business Strategy
      • 7.4.5. Recent Developments
    • 7.5. IBM Corporation
      • 7.5.1. Overview
      • 7.5.2. Financials
      • 7.5.3. Technology Portfolio
      • 7.5.4. Business Strategy
      • 7.5.5. Recent Development
    • 7.6. Google, Inc.
      • 7.6.1. Overview
      • 7.6.2. Financials
      • 7.6.3. Technology Portfolio
      • 7.6.4. Business Strategy
      • 7.6.5. Recent Development
    • 7.7. Salesforce
      • 7.7.1. Overview
      • 7.7.2. Financials
      • 7.7.3. Technology Portfolio
      • 7.7.4. Business Strategy
      • 7.7.5. Recent Development
    • 7.8. Amazon Web Services
      • 7.8.1. Overview
      • 7.8.2. Financials
      • 7.8.3. Technology Portfolio
      • 7.8.4. Business Strategy
      • 7.8.5. Recent Development

Table Of Figures

List of Figures

1. Market research process
2. Market research methodology
3. Global Artificial Intelligence in Retail Market, 2016–2026 (USD Billion)
4. Porter’s Five Forces Analysis
5. Global Artificial Intelligence in Retail Market attractiveness, By Application
6. Global Artificial Intelligence in Retail Market attractiveness, By Deployment
7. Global Artificial Intelligence in Retail Market Share by Application ,2019 and 2026 (USD Billion)
8. Global Artificial Intelligence in Retail Market by Supply Chain and Logistics,2016–2026 (USD Billion)
9. Global Artificial Intelligence in Retail Market by PRODUCT OPTIMIZATION,2016–2026 (USD Billion)
10. Global Artificial Intelligence in Retail Market by  In-Store Navigation, 2016–2026 (USD Billion)
11. Global Artificial Intelligence in Retail Market by Payment and Pricing Analytics,2016–2026 (USD Billion)
12. Global Artificial Intelligence in Retail Market by Inventory Management,2016–2026 (USD Billion)
13. Global Artificial Intelligence in Retail Market by Customer Relationship Management, 2016–2026 (USD Billion)
14. Global Artificial Intelligence in Retail Market Share by Deployment ,2019 and 2026 (USD Billion)
15. Global Artificial Intelligence in Retail Market by Cloud , and,2016–2026 (USD Billion)
16. Global Artificial Intelligence in Retail Market by On-Premise,2016–2026 (USD Billion)
17. Global Artificial Intelligence in Retail Market share, by Region, 2019 and 2026
18. North America Artificial Intelligence in Retail Market, 2016–2026 (USD Billion)
19. Europe Artificial Intelligence in Retail Market, 2016–2026 (USD Billion)
20. Asia Pacific Artificial Intelligence in Retail Market, 2016–2026 (USD Billion)
21. Latin America Artificial Intelligence in Retail Market, 2016–2026 (USD Billion)
22. The Middle East and Africa Artificial Intelligence in Retail Market, 2016–2026 (USD Billion)
 


Table Of Tables

List of Tables

1. Global Artificial Intelligence in Retail Market: snapshot
2. Drivers of the Artificial Intelligence in Retail Market: impact analysis
3. North America Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
4. North America Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
5. The U.S. Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
6. The U.S. Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
7. Rest of North America Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
8.  Rest of North America Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
9.  Europe Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
10. Europe Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
11. UK Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
12. UK Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
13. France Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
14. France Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
15. Germany Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
16. Germany Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
17. Rest of Europe Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
18. Rest of Europe Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
19. Asia Pacific Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
20. Asia Pacific Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
21. China Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
22. China Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
23. Japan  Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
24. Japan Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
25. India Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
26. India Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
27. Rest of Asia Pacific Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
28. Rest of Asia Pacific Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
29. Latin America Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
30. Latin America Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
31. Brazil Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
32. Brazil Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
33. Rest of Latin America Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
34. Rest of Latin America Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
35. The Middle East and Africa Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
36. The Middle East and Africa Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
37. Saudi Arabia Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
38. Saudi Arabia Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
39. South Africa Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
40. South Africa Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)
41. Rest of the Middle East & Africa Artificial Intelligence in Retail Market revenue, By Application, 2016–2026 (USD Billion)
42. Rest of the Middle East & Africa Artificial Intelligence in Retail Market revenue, By Deployment, 2016–2026 (USD Billion)

   
 

Methodology

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FrequentlyAsked Questions

Integration of advanced analytics and AI is likely to help the retail ecosystem expand by leaps & bounds over the assessment period. With online shopping replacing brick & mortar retail units, artificial intelligence in retail activities has become a key focus for enterprises. This will not only assist in creation of a strong platform for AI application in retail business, but will also help in laying strong foundations of growth for artificial intelligence in retail market. With customers consistently looking for personalized products & services, AI services in retail business are assisting retail stores in understanding the customer preferences, thereby offering new products aligning with customer requirements & tastes. Furthermore, disruptive effect of AI in retail industry is also experienced in value chain activities. In addition to this, artificial intelligence is evolving as a robust tool for retail brands in gaining competitive edge, thereby resulting in increment in scope of the use of artificial intelligence in retail market.

Moreover, some of the major benefits offered by AI to retail stores include automating of in-store functionalities and reduction of operational expenditure of retail units. AI also facilitates cashless transactions, offers real-time stock monitoring services, and digitize store displays. All these aspects are anticipated to steer the expansion of artificial intelligence in retail industry over the forecast period.  

According to Zion Market Research report, the global Artificial Intelligence In Retail market, which was estimated at about 1.18 (USD Billion) in 2019 and is predicted to accrue earnings worth 10.11 (USD Billion) by 2026, is set to record a CAGR of nearly over 34.5% during 2020-2026.   

North America is likely to make noteworthy contributions towards overall market revenue. The growth of the industry in the sub-continent over the estimated timespan is attributed to presence of online shopping such as Amazon, Inc. and retail firm like The Kroger Company in the U.S. Reportedly, Amazon introduced Amazon Go as well as Just Walk Out Shopping tools to reduce queues during payment. Apparently, Kroger, a retail firm based in the U.S., launched Kroger edge technology that helps in replacing conventional shelves in its retail stores with digital ones, thereby reducing down costs. With AI facilitating inventory planning as well as improving & easing logistics & supply chain management operations, the market in the sub-continent is anticipated to witness increment in growth over the forecast period.  

The key players profiled in the report include are Microsoft Corporation, NVIDIA Corporation, IBM Corporation, Intel Corporation, Google Inc., Salesforce, Sentient Technologies, and Amazon Web Services. 

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