Global Artificial Intelligence in Retail Market Size Study, by Solution, Type, Business Function, End User, and Regional Forecasts 2022-2032

Description

The global Artificial Intelligence in Retail Market, valued at approximately USD 23.58 billion in 2023, is set to experience exponential growth, surging at a remarkable compound annual growth rate (CAGR) of 32.00% over the forecast period 2024-2032. The integration of artificial intelligence into retail represents a transformative leap, enabling retailers to enhance customer experiences, streamline operations, and optimize decision-making processes. AI solutions such as personalized product recommendations, visual search technologies, and virtual customer assistants are driving unprecedented levels of efficiency and engagement across the retail ecosystem.

The market is witnessing a paradigm shift as retailers leverage generative AI to deliver hyper-personalized shopping experiences, catering to the diverse preferences of a global customer base. Additionally, virtual stores and AI-powered CRM solutions are empowering businesses to enhance customer interactions, improve retention, and achieve operational scalability. By incorporating advanced AI technologies, retailers can predict consumer behavior with precision, reduce inefficiencies, and unlock new revenue streams.

The rapid proliferation of e-commerce platforms and the increasing adoption of AI technologies in offline channels are propelling the market forward. Investments in research and development, coupled with strategic collaborations between technology providers and retailers, are fostering innovation in the sector. However, challenges such as high implementation costs, data privacy concerns, and integration complexities with legacy systems may impede the seamless adoption of AI in retail environments.

Regionally, North America dominates the Artificial Intelligence in Retail Market, attributed to robust technological infrastructure, a high penetration of e-commerce platforms, and significant investments in AI-driven innovation. Europe follows closely, supported by stringent data privacy regulations and a focus on sustainable retail practices. Meanwhile, the Asia Pacific region is expected to witness the fastest growth, driven by rapid digitization, a growing consumer base, and government initiatives promoting AI adoption across the retail sector.

Major market players included in this report are:

IBM Corporation
Google LLC
Amazon Web Services (AWS)
Salesforce.com, Inc.
Microsoft Corporation
Oracle Corporation
Adobe Inc.
SAP SE
Nvidia Corporation
Intel Corporation
Baidu, Inc.
Alibaba Group Holding Limited
Infosys Limited
Accenture Plc
Shopify Inc.

The detailed segments and sub-segment of the market are explained below:

By Solution:

Personalized Product Recommendation
Visual Search
Virtual Stores
Virtual Customer Assistant
CRM

By Type:

Generative AI
Other AI

By Business Function:

Marketing and Sales
Customer Support
Supply Chain Management
Inventory Management

By End User:

Online
Offline

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia Pacific

Latin America:

Brazil
Mexico
Rest of Latin America

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year: 2022
Base year: 2023
Forecast period: 2024 to 2032

Key Takeaways:

Market Estimates & Forecasts for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of geographical landscape with country-level data.
Competitive landscape featuring major market players and their strategies.
Insights into demand-side and supply-side market dynamics.
Strategic recommendations to capitalize on emerging market opportunities.

Chapter 1. Global Artificial Intelligence in Retail Market Executive Summary

1.1. Global Artificial Intelligence in Retail Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Solution
- 1.3.2. By Type
- 1.3.3. By Business Function
- 1.3.4. By End User
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Artificial Intelligence in Retail Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Artificial Intelligence in Retail Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Adoption of AI Technologies in Retail
- 3.1.2. Demand for Personalized Customer Experiences
- 3.1.3. Rapid Proliferation of E-commerce Platforms
3.2. Market Challenges
- 3.2.1. High Implementation Costs
- 3.2.2. Data Privacy Concerns
- 3.2.3. Integration Complexities with Legacy Systems
3.3. Market Opportunities
- 3.3.1. Growing Adoption of AI in Offline Retail Channels
- 3.3.2. Advancements in Generative AI Technologies
- 3.3.3. Strategic Collaborations and Partnerships

Chapter 4. Global Artificial Intelligence in Retail Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Artificial Intelligence in Retail Market Size & Forecasts by Solution 2022-2032

5.1. Segment Dashboard
5.2. Global Artificial Intelligence in Retail Market: Solution Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Personalized Product Recommendation
- 5.2.2. Visual Search
- 5.2.3. Virtual Stores
- 5.2.4. Virtual Customer Assistant
- 5.2.5. CRM

Chapter 6. Global Artificial Intelligence in Retail Market Size & Forecasts by Type 2022-2032

6.1. Segment Dashboard
6.2. Global Artificial Intelligence in Retail Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Generative AI
- 6.2.2. Other AI

Chapter 7. Global Artificial Intelligence in Retail Market Size & Forecasts by Business Function 2022-2032

7.1. Segment Dashboard
7.2. Global Artificial Intelligence in Retail Market: Business Function Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Marketing and Sales
- 7.2.2. Customer Support
- 7.2.3. Supply Chain Management
- 7.2.4. Inventory Management

Chapter 8. Global Artificial Intelligence in Retail Market Size & Forecasts by End User 2022-2032

8.1. Segment Dashboard
8.2. Global Artificial Intelligence in Retail Market: End User Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 8.2.1. Online
- 8.2.2. Offline

Chapter 9. Global Artificial Intelligence in Retail Market Size & Forecasts by Region 2022-2032

9.1. North America Artificial Intelligence in Retail Market
- 9.1.1. U.S. Artificial Intelligence in Retail Market
  - 9.1.1.1. Solution Breakdown Size & Forecasts, 2022-2032
  - 9.1.1.2. Type Breakdown Size & Forecasts, 2022-2032
- 9.1.2. Canada Artificial Intelligence in Retail Market
9.2. Europe Artificial Intelligence in Retail Market
- 9.2.1. UK Artificial Intelligence in Retail Market
- 9.2.2. Germany Artificial Intelligence in Retail Market
- 9.2.3. France Artificial Intelligence in Retail Market
- 9.2.4. Spain Artificial Intelligence in Retail Market
- 9.2.5. Italy Artificial Intelligence in Retail Market
- 9.2.6. Rest of Europe Artificial Intelligence in Retail Market
9.3. Asia Pacific Artificial Intelligence in Retail Market
- 9.3.1. China Artificial Intelligence in Retail Market
- 9.3.2. India Artificial Intelligence in Retail Market
- 9.3.3. Japan Artificial Intelligence in Retail Market
- 9.3.4. Australia Artificial Intelligence in Retail Market
- 9.3.5. South Korea Artificial Intelligence in Retail Market
- 9.3.6. Rest of Asia Pacific Artificial Intelligence in Retail Market
9.4. Latin America Artificial Intelligence in Retail Market
- 9.4.1. Brazil Artificial Intelligence in Retail Market
- 9.4.2. Mexico Artificial Intelligence in Retail Market
- 9.4.3. Rest of Latin America Artificial Intelligence in Retail Market
9.5. Middle East & Africa Artificial Intelligence in Retail Market
- 9.5.1. Saudi Arabia Artificial Intelligence in Retail Market
- 9.5.2. South Africa Artificial Intelligence in Retail Market
- 9.5.3. Rest of Middle East & Africa Artificial Intelligence in Retail Market

Chapter 10. Competitive Intelligence

10.1. Key Company SWOT Analysis
- 10.1.1. IBM Corporation
- 10.1.2. Google LLC
- 10.1.3. Amazon Web Services (AWS)
10.2. Top Market Strategies
10.3. Company Profiles
- 10.3.1. IBM Corporation
  - 10.3.1.1. Key Information
  - 10.3.1.2. Overview
  - 10.3.1.3. Financial (Subject to Data Availability)
  - 10.3.1.4. Product Summary
  - 10.3.1.5. Market Strategies
- 10.3.2. Salesforce.com, Inc.
- 10.3.3. Microsoft Corporation
- 10.3.4. Oracle Corporation
- 10.3.5. Adobe Inc.
- 10.3.6. SAP SE
- 10.3.7. Nvidia Corporation
- 10.3.8. Intel Corporation
- 10.3.9. Baidu, Inc.
- 10.3.10. Alibaba Group Holding Limited
- 10.3.11. Infosys Limited
- 10.3.12. Accenture Plc
- 10.3.13. Shopify Inc.

Chapter 11. Research Process

11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
11.2. Research Attributes