Artificial Intelligence (AI) in the Global Retail Market, 2023: CAGR to Grow by 35% - ResearchAndMarkets.com
Aug. 20, 2018
DUBLIN--(BUSINESS WIRE)--Aug 20, 2018--The "Global Artificial Intelligence in Retail Market - Growth, Trend and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The artificial intelligence in retail market is expected to grow at a CAGR of over 35%, during the forecast period (2018-2023).
The scope of the report is limited to solutions offered by various market players from various applications including supply chain & logistics, product optimization, in-store navigation, payment & pricing analytics, inventory management, and customer relationship management.
The global revenue from AI is expected to take a massive jump, which has been estimated, due to the rising application of AI technology across multiple industries. In fact, within the same timeframe, the advances in the cognitive technologies, including AI and automation will replace 7% of US jobs. These imply that retail companies could significantly reduce the costs of labor and make their shopping processes far more efficient depending on the customer persona.
The AI equipped retailers with sharper forecasting tools will help in making smarter business decisions. The use of algorithms increases visibility into ROI implications, translating to results like lower costs and higher sales. AI has brought real disruption to the retail sector by improving efficiency, as well as prediction. Based on a recent survey by Walmart, 70% of U.S. millennial and 62% of millennial in the UK would appreciate a brand or retailer using AI technology to show exciting products.
Key HighlightsInventory Management to Dominate the Retail Market Over the Forecast Period North America to Appear as One of the Leading Regions in the Artificial Intelligence in Retail Market
Notable Developments in the MarketFebruary 2018: Flipkart is eyeing deep-technology investments in the Silicon Valley to ramp up its technology infrastructure by investing over $25 million in an artificial intelligence startup to bring the technology over to India in order to play catch up with rival Amazon India. January 2018: Manthan Software Services has launched an intuitive and context relevant in-store personalization solution for retailers. The in-store, marketing solution is powered by 'Manthan's TargetOne' personalized marketing engine and is delivered to customers through the retailer's mobile app.
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Artificial Intelligence in Retail Market Insights
5. Artificial Intelligence in Retail Market Dynamics
6. Global AI in Retail Market Segmentation
7. Competitive Intelligence - Company ProfilesAmazon Web Services Inc. NVIDIA Corporation Google LLC Walmart Inc. IBM Watson Group Microsoft Corporation Plexure Ltd. Intel Corporation Qualcomm Inc. SAP SE Salesforce.com Inc. Oracle Corporation Manthan Software Services Pvt. Ltd. Sentient Technologies Holdings Limited Focal Systems Inc. ViSenze Pte Ltd.
8. Investment Analysis
9. Future of the AI in Retail Market
For more information about this report visit https://www.researchandmarkets.com/research/lz24gz/artificial?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180820005350/en/
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Related Topics:Artificial Intelligence
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE RETAIL OTHER RETAIL
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 08/20/2018 09:56 AM/DISC: 08/20/2018 09:56 AM