Artificial Intelligence (AI) in Retail market is projected to grow up to USD 36.31 billion by 2027 growing at a CAGR of 30.1% during the forecasting period 2021-2027
The introduction of Artificial Intelligence (AI) into the retail market environment has resulted in the development of advanced data and predictive analytics systems that assist businesses in making data-driven business decisions. Most retail behemoths have recognized the ability of emerging technology such as the Internet of Things (IoT) and Artificial Intelligence (AI) to transform their retail operations and consumer experiences. Since these innovations are costly, small players in this sector have yet to implement them. However, major online and offline retailers such as Lowes, Walgreens, Sephora, Taco Bell, Walmart, Amazon, Zola, and others have begun to invest heavily in these innovations.
The retail sector is more fragmented and competitive than it has ever been. For years, the retail industry has been undergoing digital transformation, allowing it to progress with AI in the retail market. Implementing AI in Retail has improved the pace, performance, and accuracy of every branch of the retail sector. Highly structured e shops, intelligent in-store bots, and online chatbots can all help businesses build digital shopping experiences.
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The AI in Retail market report has been categorized as below
By Offering
Software
Service
By Component
Solution
Chatbots
Customer Behavior Tracking
CRM
Inventory Management
Price Optimization
Recommendation Engines
Supply Chain Management
Visual Search & Visual Listen
Others
Service
Professional Service
Managed Service
By Technology
Machine Learning
Context-Aware Computing
Natural Language Processing
Computer Vision
By Application
Automated Merchandising
Programmatic Advertising
Market Forecasting
In Store Navigation
Data Science
By Deployment
Cloud
On-Premise
By Region
North America
Europe
Asia Pacific
Rest of Europe
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