Selbyville, DE -- (SBWIRE) -- 01/19/2019 -- Artificial Intelligence (AI) in Retail Market, Artificial Intelligence (AI) in Retail Market trend, Artificial Intelligence (AI) in Retail Market analysis, Artificial Intelligence (AI) in Retail Industry, Artificial Intelligence (AI) in Retail Industry Size, Artificial Intelligence (AI) in Retail Industry Forecast, Artificial Intelligence (AI) in Retail Industry Share
North America accounts for over 35% share in the AI in Retail market. The increasing investments in the AI technology, the early adoption, and the presence of tech giants, such as AWS, Microsoft, Google and IBM, in the country also foster the market growth. Asia Pacific AI in Retail market is anticipated to grow significantly with a CAGR of more than 45%. The growth of the market is driven by e-commerce industry in the region. Furthermore, the investment in the AI by the Chinese technology giants Alibaba and Baidu also fuel the market growth.
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Natural Language Processing (NLP) leads AI in Retail market with over 40% share in the revenue. The growing demand to provide the enhanced customer experience is the major force augmenting the market growth. Machine learning and deep learning technology are anticipated to surpass the NLP technology during the forecast period with a CAGR of over 42%. The market is driven by the increasing investments in machine learning and deep learning technology.
MarketStudyReport.com Adds New Artificial Intelligence (AI) in Retail Market 2018 – 2024 research report providing information and data By Component, By Technology, By Application, Industry Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast spreading across 300 Pages with table and figures in it.
AI in Retail Market is estimated to cross the USD 8 billion mark by the year 2024. The growth of the market is driven by the disruption of the technology in the retail sector. Enterprises are rapidly deploying new technologies to get an edge over competitors and provide a personalized shopping experience to the customers. The growing demand for the enhanced customer experience is also one of the major forces propelling the market growth. As the competition among the enterprises is increasing, companies have started focusing more on providing improved shopping experience to gain customers? loyalty. Furthermore, rising investments in the AI and the development of new business models along with the advances in the data science are some of the major factors that foster the market growth. However, the data privacy and the lack of public private partnership are hindering the growth of the AI in Retail market.
The solutions market is estimated to lead the AI in Retail market with over 85% share in the revenue. The growing demand for the advanced analytics solutions among the retailers to extract the consumer data is propelling the growth. Services market is anticipated to grow at a CAGR of over 45% during the forecast timeline. The increasing demand among the retailers for the third-party services is the driving the growth.
The companies that serve AI-powered solutions in the retail sector are Google, Microsoft, IBM, AWS, Baidu, Intel, Oracle, SAP, Salesforce.com, Nvidia, Interactions, CognitiveScale, Lexalytics, Inbenta Technologies, NEXT IT, RetailNext, Sentient Technologies, Visenze, and BloomReach.
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Recommendation engine is the most used solution among the retailers accounting for more than 35% share in the revenue. The growth of the recommendation engine market is credited to the rising demand for the personalized shopping experience among the customers. Furthermore, the demand for the visual search solutions is estimated to grow at a CAGR of more than 45% during 2018-2024.
There are 14 Chapters to deeply display the Artificial Intelligence (AI) in Retail market
Chapter 1: To describe Artificial Intelligence (AI) in Retail Market Overview, Introduction, product scope, market opportunities, Application.
Chapter 2: To analyze the Top Manufacturers of Artificial Intelligence (AI) in Retail, with sales, capacity, production, revenue, and price of Artificial Intelligence (AI) in Retail, in 2014 and 2019.
Chapter 3: Artificial Intelligence (AI) in Retail, to display the competitive situation among the top manufacturers with capacity, production, share by region, sales, revenue, gross margin and market share in 2014 and 2019.
Chapter 4: To show the market by regions, supply, consumption, with sales, export-import, revenue and market share of Artificial Intelligence (AI) in Retail, for each region, from 2014 Artificial Intelligence (AI) in Retail to 2019.
Chapter 5, 6, 7, 8 and 9 To analyze the market by countries, by type, by application and by manufacturers, with sales, analysis by application, revenue and market share by key countries in these regions.
Chapter 10 and 11 To show the market by type and application, with sales market share and growth rate by type, strategy analysis and factor analysis from 2016 Artificial Intelligence (AI) in Retail to 2019.
Chapter 12 Artificial Intelligence (AI) in Retail market forecast, by regions, type, with sales and revenue, growth rate, price Forecast from 2019 to 2025 Artificial Intelligence (AI) in Retail.
Chapter 13: Connected Artificial Intelligence (AI) in Retail market.
Chapter 14: To describe Artificial Intelligence (AI) in Retail market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
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