Blog: Artificial Intelligence is Powering the Retail Experience
Global artificial intelligence in retail market is expected to grow from US$ 712.6 million in 2016 to US$ 27,238.6 million by 2025 at a CAGR of 51.2% between 2017 and 2025.
Inception of exponential technologies such as sensors, robotics, virtual reality, and artificial intelligence in the retail industry has enabled the retailers to enhance their interactions with consumers and transformed the way retail operations were performed. This change in the industry is prominently driven by the seismic shift in the shopping pattern of the consumers, and their preferences backed by demographic dividend across regions.
The report focuses on an in-depth segmentation of this market based by retail format, technology, and application. The geographic segmentation of the report covers five major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA). The regional market has been further bifurcated by respective countries. By application segment customer experience and management accounted for the largest share of the artificial intelligence in retail market in 2016; whereas, APAC region is expected to grow at the highest CAGR during the forecast period.
The report aims to provide an overview of global artificial intelligence in retail market with detailed market segmentation. Also, it analyzes the current artificial intelligence in retail market scenario and forecasts the market till 2025. The report covers market dynamics effecting the market during the forecast period. Furthermore, the report analyzes the competitive scenario, geographic trends, and opportunities in the markets with respect to all geographic regions. The report also includes the detailed company profiles of the key players in the market along with their market strategies. The report also provide PEST analysis of all five regions along with the SWOT analysis for all company profiled in the report.
Leading Key Players:
• Sentient Technologies Holdings Limited
• Manthan Software Services Pvt. Ltd
• Focal Systems Inc
• Microsoft Corporation
• Tata Consultancy Services Limited
• Salesforce.com, Inc
• Plexure Ltd.
• IBM Watson Group
Key Benefits –
– To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Artificial Intelligence in Retail Market
– To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa).
Source: The Insight Partners