Artificial Intelligence in Retail Market is expected to grow at a CAGR of 51.2% by 2025

Press Release

Latest market study on “Artificial Intelligence in Retail Market to 2025 by Retail Format (E-Commerce and, Brick & Mortar), Technology (Chat-Bot, Recommendation Engine and Audio – Visual Analytics, and Others), Application (Sales & Marketing, Supply Chain & Logistics, Shelf Analytics, Pricing, In-Store Navigation, and Auto-Checkout) – Global Analysis and Forecast“, the artificial intelligence in retail market is estimated to reach US$ 27,238.6 million by 2025 from US$ 712.6 million in 2016. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

Artificial intelligence in retail market by application is segmented into Sales & Marketing, Supply Chain & Logistics, Shelf Analytics, Pricing, In-Store Navigation, Auto-Checkouts, and others (staffing and product mix optimization). Customer experience and management segment is projected to acquire majority share in the market. Digital convergence in retail is considered to bring glowing opportunity for retailers to retail the customer and set themselves apart. In the coming few years, interaction with a variety of technologies such as bots is expected to reinvent the customer experience.

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Company Profiles :

  • Sentient Technologies Holdings Limited
  • Manthan Software Services Pvt. Ltd
  • Focal Systems Inc
  • Microsoft Corporation
  • ViSenze
  • Tata Consultancy Services Limited
  • Plexure Ltd.
  • Google,Inc
  • IBM Watson Group

The transformation in the retail industry has been accelerated by advent of new competitors and the immense global digital transformation in past few years. In past two year, a large number of start-ups have come up in the artificial intelligence ecosystem that are also catering to the retail industry. This has resulted in dramatic increase in competition and relentless innovation.

There has been constant development in retail industry with respect to artificial intelligence. Recently, Manthan launched its new Intelligent In-Store personalization for retailers. With this app the retailers can send personalized offers and notifications to customers during their shopping time to meet their requirements.

Also, the company developed a mobile application best suitable for retail industry, Engage247. The application facilitates in increasing day to day access to critical metrics such as sales metrics, purchase trends, and walk in shopper preference. It also helps in better decision making by evaluating daily, weekly and monthly reports, resulting in optimizing customer experience.

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Reasons To Buy :

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global artificial intelligence in retail market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the artificial intelligence in retail market, thereby allowing players across the value chain to develop effective long term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
  • Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.

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