Artificial Intelligence in Retail Market 2020 is Projected to Exhibit a CAGR of 35% during the Forecast period 2023 Consumer research, Report Covering Major Key Points Like – Business outlook, Key players
The Global Artificial Intelligence in Retail Market 2020-2023 Research Report provides idealistic and determined details of the Artificial Intelligence in Retail Market, that assist you in promoting ideas with research-based factors. It offers in-depth data, refines variations of the worldwide Artificial Intelligence in Retail market to help you in deciding the final strategy. The report features a thorough outlook of the market considering profitability, attractiveness, revenue, and CAGR.
The Artificial Intelligence in Retail Market Research Report also focuses on leading industry Manufacturer with information such as company profiles, products, and services offered financial information throughout 2020 – 2023
- Amazon Web Services
- 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
The Artificial Intelligence in Retail Market Report offers an accurate financial assessment of each leading Competitor based on their business data that includes estimation of gross margin, Artificial Intelligence in Retail Market sales volume, profitability, pricing erection, product value, cost structure, revenue, and growth rate.
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Summary of Artificial Intelligence in Retail Market:
The artificial intelligence in retail market is expected to grow at a CAGR of over 35 %, during the forecast period (2020 – 2023). The scope of the report is limited to solutions offered by various market players from various application including supply chain & logistics, product optimization, in-store navigation, payment & pricing analytics, inventory management, and customer relationship management. The regions considered under the scope of the report include North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
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.
Inventory Management to Dominate the Retail Market over the Forecast Period
The use of AI systems in inventory management reduces the uncertainty of maintaining stock levels by monitoring supply chain, market, and consumer demand variables. Since inaccurate inventory management is a high risk for retailers as having too much of inventory is a costly affair, while commodities being out-of-stock leads to loss of sales as well as customer disappointment. Artificial intelligence market in retail has immense growth opportunities with improvement in inventory management. Through the monitoring of weather patterns, dynamic consumer behaviors, and different purchasing rates, artificial intelligence can help retail owners to make informed decisions to manage their inventory and understand consumer needs.
North America to Appear as one of the Leading Region in the Artificial Intelligence in Retail Market
North America is expected to dominate the market with the largest market share mainly because of the presence of several developed economies, such as the United States and Canada, focusing on enhancing the existing solutions in the retail space. North America hosts the primary AI solution providers and is an early adopter of the AI technology. Many retailers in this region have deployed AI-based solutions to optimize their supply chain operations and inventory. AI is helping the retailers in managing and maintaining their customers, and understanding the buying patterns of the consumers. To engage customers and improve the sales turnover, AI technologies are being adopted by both online and offline retail businesses.
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Reasons to Purchase Artificial Intelligence in Retail Market Report
The Artificial Intelligence in Retail Market 2020-2023 Analysis objectives of the report are:
- To analyze Artificial Intelligence in Retail Market regarding growth trends, anticipation and also their participation in the entire sector.
- To equitably share in-depth info regarding the vital elements influencing the increase of industry (growth capacity, probability, drivers and industry-specific challenges and risks).
- To know the Artificial Intelligence in Retail Market by distinguishing its many sub-segments.
- To examine and study the market size (volume & value) from the company, essential regions/countries, products and application, background information from 2013 – 2020 and also prediction to 2023.
- To profile the Leading players in the industry and analyze their growth plans.
- To venture the amount and value of sub-markets, depending on key regions.
- Primary worldwide Antifouling Paints and Coatings Market manufacturing companies, to specify, clarify and analyze the product sales amount, value and market share, market rivalry landscape, SWOT analysis, and development plans next coming years.
- To examine competitive progress such as expansions, arrangements, new product launches and acquisitions on the market.
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The growth of this market worldwide is subjected to various factors; including consumer world-class Artificial Intelligence in Retail Market of many Artificial Intelligence in Retail Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Artificial Intelligence in Retail Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Artificial Intelligence in Retail Market competitors.
Mr. Ajay More
Phone: +14242530807 / + 44 20 3239 8187
Email: [email protected]
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