Artificial Intelligence in Retail Market Trends & Emerging Opportunities to 2027

By Ronak Bora

Artificial Intelligence in Retail Market will be significantly bolstered with the surging need for digitization and the consistent development of new business models across the retail sector. There are large investments made by public and private enterprises in AI technology.
The incorporation of AI together with advanced analytics and machine learning is believed to yield multiple functional benefits. This has led to the increasing requirement of these techniques from retailers in order to offer a personalized store experience. The market size will globally cross an annual value of more than USD 20 billion by 2027.
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Demand for managed services in the artificial intelligence in retail market is pegged to rise at a growth rate of over 30% over the next few years. This is owing to the extensive utilization of intelligent algorithms and AI technology by most managed service providers. The cost-effectiveness of AI solutions has increased their preference.
This is because the systems offer effective management in diverse applications, that range from controlling the network traffic to working on the machine issues without the need of human assistance.
Value of computer vision technology in artificial intelligence in retail market is estimated to hold a significant revenue share through 2027. This can be attributed to the higher adoption of computer vision-based cameras and robots in order to track and manage the store inventory. Various retailers are also making use of in-store applications to gain a competitive edge over their counterparts by leveraging computer vision solutions.
Europe is a promising market for artificial intelligence in retail. The region is poised to grow at a 35% CAGR over the coming years with the significant expansion in the retail sector and the surge in the number of government investments in AI technology. For instance, the French government introduced the AI Strategy in March 2018 and is in plans to invest more than USD 1.76 billion in AI technology by the end of 2022.
On the other hand, artificial intelligence in retail market across North America will gain considerable traction through 2027. This is due to the prominent number of enterprises that are consistently focused on AI technology development and investments across the region.
The Prominent Key Players in the market include Amazon Web Services, Baidu Inc., BloomReach Inc., CognitiveScale Inc., Google Inc., IBM Corporation, Inbenta Technologies, Intel Corporation
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Table of Content
Chapter 6   artificial intelligence in retail market, By Technology
6.1    Key trends, by technology
6.2    Machine learning and deep learning
6.2.1    Market estimates and forecast, 2016 - 2027
6.3    Natural Language Processing
6.3.1    Market estimates and forecast, 2016 – 2027
6.4    Computer vision
6.4.1    Market estimates and forecast, 2016 - 2027
6.5    Others
6.5.1    Market estimates and forecast, 2016 - 2027
Chapter 7   artificial intelligence in retail Market, By Application
7.1    Key trends, application
7.2    Automated merchandizing
7.2.1    Market estimates and forecast, 2016 - 2027
7.3    Programmating advertising
7.3.1    Market estimates and forecast, 2016 - 2027
7.4    Market forecasting
7.4.1    Market estimates and forecast, 2016 - 2027
7.5    In-store AI and location optimization
7.5.1    Market estimates and forecast, 2016 - 2027
7.6    Data Science
7.6.1    Market estimates and forecast, 2016 – 2027
7.7    Others
7.7.1    Market estimates and forecast, 2016 – 2027
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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