Resources
About Us
Meticulous Research®—a leading global market research company, published a research report titled ‘Artificial Intelligence in Retail Market—Global Opportunity Analysis and Industry Forecast (2024-2031).’ According to this latest publication from Meticulous Research®, the artificial intelligence in retail market is expected to reach $92.7 billion by 2031, at a CAGR of 38.6% from 2024 to 2031.
The growth of the artificial intelligence (AI) in retail market is driven by the increasing number of smart stores, the growing need to enhance customer experience and improve productivity, and the rising use of AI for inventory management. However, the low technology adoption rate in the unorganized retail sector and a shortage of skilled professionals restrain this market’s growth.
Additionally, the increasing adoption of AI-powered voice-enabled devices and the growing demand for AI-driven personal shopping services are expected to offer growth opportunities for market players. However, challenges such as legal concerns, data privacy issues, and the complexities of integrating AI systems with existing infrastructure are expected to impact market growth.
Key Players:
The artificial intelligence in retail market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The major players operating in the artificial intelligence in retail market are Amazon.com, Inc. (U.S.), Google LLC (U.S.), IBM Corporation (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), Nvidia Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), BloomReach, Inc. (U.S.), Salesforce.com, Inc. (U.S.), ViSenze (Singapore), SymphonyAI LLC (U.S.), Daisy Intelligence Corporation (Canada), Conversica (U.S.), and RetailNext Inc. (U.S.).
The global artificial intelligence in retail market is segmented by offering, technology, type, deployment mode, and end user. The report also evaluates industry competitors and analyzes the market at the regional and country levels.
By offering, in 2024, the solutions segment is expected to account for the largest share of over 72.0% of the global artificial intelligence in retail market. The large market share of this segment is attributed to the increasing adoption of AI solutions in retail to enhance operations, create personalized shopping experiences, and unify retail data, enabling brands to more effectively reach their audiences. Additionally, key market players are focusing on launching innovative AI solutions for the retail sector. For instance, in January 2024, Microsoft Corporation (U.S.) announced new generative AI capabilities and data solutions for retailers. These include new copilot templates on the Azure OpenAI Service, which allow retailers to develop personalized shopping experiences and improve store operations.
By type, in 2024, the online retail segment is expected to account for a larger share of artificial intelligence in retail market. The large market share of this segment is attributed to the increasing use of AI-based shopping assistants and AI-powered solutions by online retailers to enhance customer interactions, reduce returns, detect and prevent fraud, and optimize the overall shopping experience.
By technology, in 2024, the machine learning segment is expected to account for the largest share of over 36.0% of the artificial intelligence in retail market. The large market share of this segment is attributed to the increasing adoption of machine learning by retailers to track customer movements, product interactions, and foot traffic patterns. This data helps optimize store layouts, product placements, and marketing strategies.
By deployment mode, in 2024, the on-premise deployments segment is expected to account for the larger share of the artificial intelligence in retail market. On-premise solutions provide organizations with a high level of security and control over their data. These deployments often offer better protection compared to cloud-based solutions, as security can be managed locally without relying on external networks. On-premise streaming analytics solutions can be implemented in a layered approach, enhancing defenses against network threats. As a result, many enterprises prefer on-premise deployments for their streaming analytics needs, contributing to the large market share of this segment.
By end user, in 2024, the food & groceries segment is expected to account for the largest share of over 22.0% of the artificial intelligence in retail market. The large market share of this segment is attributed to the increasing adoption of AI-powered solutions by food & grocery retailers, including automated shelf scanning, smart shopping carts, and automated payment systems.
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Spain, Switzerland, Netherlands and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa (UAE, Israel, and Rest of Middle East & Africa)
By geography, in 2024, North America is expected to account for the largest share of over 32.0% of the artificial intelligence in retail market, followed by Asia-Pacific and Europe. North America’s large market share is attributed to the significant investments in AI R&D by major technology companies and the increasing efforts by retailers to provide more personalized experiences to customers, create interactive environments, and optimize supply chains.
Download Free Sample PDF Copy Here: https://www.meticulousresearch.com/download-sample-report/cp_id=4979
Key Questions Answered in the Report:
What is the revenue generated from the artificial intelligence in retail market?
At what rate is the global demand for artificial intelligence in retail projected to grow for the next five to seven years?
What is the historical market size and growth rate for the artificial intelligence in retail market?
What are the major factors impacting the growth of this market at the global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which segments in terms of offering, technology, type, deployment mode, and end user are expected to create traction for market players?
What are the key geographical trends, and which regions or countries are expected to provide significant growth opportunities for companies in the AI in retail market?
Who are the major players in the AI in retail market, and what are their specific product offerings?
What recent developments have taken place in the artificial intelligence in retail market? What are the impacts of these developments on the market?
Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Network Monitoring Market to be Worth $3.9 Billion by 2031
Read MoreGeofencing Market to be Worth $12.7 Billion by 2031
Read MoreHealthy Buildings Market to be Worth $71.5 Billion by 2031
Read MoreGenerative AI Market to Be Worth $133.9 Billion by 2031
Read MoreIndustrial Metaverse Market to be Worth $600.6 Billion by 2031
Read MoreCloud Encryption Market to be Worth $30.2 Billion by 2031
Read MoreSmart Contracts Market to be Worth $8.7 Billion by 2031
Read MoreIPTV Market to Be Worth $145.1 Billion by 2031
Read MoreSmart Parking Market to be Worth $22.9 Billion by 2031
Read MoreEnterprise AI Market to be Worth $171.2 Billion by 2031
Read MoreOver-the-air (OTA) Market to be Worth $20.7 Billion by 2031
Read MoreRF Test Equipment Market to be Worth $5.4 Billion by 2031
Read MoreAirport Security Market to be Worth $25.27 Billion by 2031
Read MoreAI in E-commerce Market to be Worth $11.1 Billion by 2031
Read MoreFood Traceability Market to be Worth $40.05 Billion by 2031
Read MoreSatellite Imaging Market to be Worth $8.6 Billion by 2031
Read MoreIoT Sensors Market to be Worth $71.6 Billion by 2031
Read MoreSmart Airports Market to be Worth $10.16 Billion by 2030
Read MoreEdge Security Market to Be Worth $82.4 Billion by 2031
Read MoreMetaverse Market to be Worth $815.8 Billion by 2030
Read MoreNFC Market to Reach $50.1 Billion by 2030
Read MoreBiosensors Market to be Worth $43.8 Billion by 2030
Read MoreSatellite IoT Market Worth $2.48 Billion by 2031
Read MoreSocial Media Management Market to Reach $109.4 Billion by 2031
Read MoreCloud Managed Services Market Worth $247.5 Billion by 2030
Read MoreSpeech-to-text API Market to be Worth $10 Billion by 2030
Read MoreOnline Gaming Market Worth $431.87 Billion by 2030
Read MoreCybersecurity Services Market Worth $158.4 Billion by 2030
Read MoreAviation MRO Market to be Worth $92.1 Billion by 2031
Read MoreSolid State Radar Market Worth $3.3 Billion by 2030
Read MoreIndustrial Asset Management Market Worth $14.4 Billion by 2029
Read More5G IoT Market Worth $17.68 Billion by 2030
Read MoreTokenization Market Worth $13.23 Billion by 2030
Read MoreSmart Retail Market Worth $91.36 Billion by 2030
Read MoreBusiness Intelligence Market Worth $47.9 Billion by 2029
Read MoreDigital Payment Market Worth $274.61 Billion by 2029
Read MoreMobile Security Market Worth $19.5 Billion by 2029
Read MoreAI Training Dataset Market Worth $9.35 Billion by 2029
Read MorePenetration Testing Market Worth $4.05 Billion by 2029
Read MoreCloud Security Market Worth $83.03 Billion by 2029
Read MoreBlockchain in Retail Market Worth $25.8 Billion by 2029
Read MoreSmart Building Market Worth $152.93 Billion by 2029
Read MoreIoT in Manufacturing Market Worth $233.6 Billion by 2029
Read MoreSmart Factory Market to be Worth $285.7 Billion by 2031
Read MoreSpeech Analytics Market Worth $14.1 Billion by 2029
Read MoreConnected Logistics Market to be Worth $57.75 Billion by 2029
Read MoreSmart Lighting Market Worth $39.91 Billion by 2029
Read MoreSmart Lock Market Worth $5.53 Billion by 2029
Read MorePoint-of-Sale Terminal Market Worth $152.5 Billion by 2029
Read MoreRegTech Market to be Worth $32.6 Billion by 2031
Read MoreEnvironmental Sensor Market Worth $13.53 Billion by 2029
Read MoreSecurity Analytics Market Worth $43.9 Billion by 2029
Read MoreGeospatial Solutions Market Worth $845.7 Billion by 2029
Read MoreMachine Condition Monitoring Market Worth $5.2 Billion by 2029
Read More5G Technology Market Worth $241.5 Billion by 2029
Read MorePackaging Automation Market to be Worth $118.8 Billion by 2031
Read MoreTokenization Market Worth $14.3 Billion by 2029
Read MoreIndustrial Cybersecurity Market Worth $49.53 Billion by 2030
Read MoreIoT in Retail Market Worth $42.6 Billion by 2029
Read MoreBiometric System Market Worth $51.6 Billion by 2029
Read MoreMobile Computer Market Worth $3.3 Billion by 2029
Read MoreVideo Analytics Market Worth $19.3 Billion by 2029
Read MoreRFID Market Worth $32.4 Billion by 2029
Read MoreApplication Security Market Worth $5.5 Billion by 2028
Read MoreNetwork Automation Market Worth $32.4 Billion by 2028
Read MoreSmart Water Management Market to be Worth $69.60 Billion by 2030
Read MoreVideo Conferencing Market Worth $24.4 Billion by 2028
Read MoreSCADA Market to be Worth $18.7 Billion by 2031
Read MoreGeospatial Analytics Market Worth $256 Billion by 2028
Read MoreAI in Manufacturing Market to Reach $84.5 Billion by 2031
Read MoreDigital Signage Market Worth $19.44 billion by 2027
Read MoreGraph Analytics Market Worth $2.03 Billion by 2027
Read MoreSmart Cities Market to be Worth $3,967.7 Billion by 2031
Read MoreAutomotive IoT Market Worth $541.73 billion by 2025
Read MoreDigital Twin Market to Be Worth $183 Billion by 2030
Read MoreFinTech Blockchain Market Worth $36.04 billion by 2028
Read MoreE-commerce Market to be Worth $21,168.6 Billion by 2030
Read MoreBlockchain Technology Market worth $28,248.7 million by 2025
Read MoreParking Management Market to be Worth $12.3 Billion by 2031
Read MoreArtificial Intelligence in Retail Market to Reach $92.7 Billion by 2031
Read MoreAgriculture IoT Market Worth $22.6 billion by 2028
Read MoreMobile Edge Computing (MEC) Market Worth $2.8 billion by 2027
Read More