Artificial Intelligence in Retail Market, By Technology, By Application, By End User, By Geography

Description

The Global Artificial Intelligence in Retail Market is estimated to be valued at USD 10.48 Bn in 2024 and is expected to reach USD 73.02 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 32% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 10.48 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	32.00%	2031 Value Projection:	US$ 73.02 Bn

Figure. Artificial Intelligence in Retail Market Share (%), By Region, 2024

Artificial Intelligence in Retail Market - IMG1

Artificial Intelligence (AI) is transforming industries at an unprecedented rate, and retail is no exception. AI is being applied to crucial areas of the retail experience from product recommendations to autonomous stores. AI presents a massive opportunity for retailers to gain deeper customer insights, optimize operations and inventory, and provide more personalized experiences. Advanced algorithms are powering new technologies like computer vision, which allows AI systems to see and understand visual inputs. This enables innovative applications from virtual assistants that see and understand consumer needs to autonomous checkout-free stores. AI is ushering in a new era of hyper-personalized interactions, customized product recommendations, and frictionless shopping experiences.

Market Dynamics:

The global artificial intelligence in retail market growth is driven by the growing need for personalized shopping experiences, predictive analysis to reduce risks and optimize operations, and automation of repetitive tasks to improve productivity. However, high implementation costs of advanced AI technologies and lack of skilled talent are restraining faster adoption. Key opportunities include leveraging computer vision for applications like visual search, virtual/augmented reality retail, and autonomous stores. Adoption of AI is also being encouraged by technological advancements such as edge computing that support advanced analytics even with limited connectivity. Retail giants are investing heavily in startups developing innovative AI solutions to gain a competitive edge and enhance customer experiences.

Key features of the study:

This report provides in-depth analysis of the global artificial intelligence in retail market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global artificial intelligence in retail market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Adobe, Alibaba Group, Amazon Web Services (AWS), Apple, Appier, Ceconomy, Edeka, Foot Locker, Home Depot, IBM, Kroger, Lemon AI, Lowe's, Microsoft, and NIKE

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global artificial intelligence in retail market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global artificial intelligence in retail market.

Detailed Segmentation-

By Technology Insights (Revenue, USD Bn, 2019 - 2031)
- Machine Learning
- Natural Language Processing (NLP)
- Computer Vision
- Robotic Process Automation (RPA)
By Application Insights (Revenue, USD Bn, 2019 - 2031)
- Personalized Recommendations
- Inventory Management
- Customer Service Chatbots
- Fraud Detection
- Pricing Optimization
By End User Insights (Revenue, USD Bn, 2019 - 2031)
- E-commerce
- Brick-and-Mortar Stores
- Wholesalers
By Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- Adobe
- Alibaba Group
- Amazon Web Services (AWS)
- Apple
- Appier
- Ceconomy
- Edeka
- Foot Locker
- Home Depot
- IBM
- Kroger
- Lemon AI
- Lowe's
- Microsoft
- NIKE

Product Code: CMI7404

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Technology
- Market Snippet, By Application
- Market Snippet, By End User
- Market Snippet, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Artificial Intelligence in Retail Market, By Technology, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Machine Learning
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Natural Language Processing (NLP)
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Computer Vision
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Robotic Process Automation (RPA)
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)

5. Global Artificial Intelligence in Retail Market, By Application, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Personalized Recommendations
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Inventory Management
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Customer Service Chatbots
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Fraud Detection
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Pricing Optimization
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)

6. Global Artificial Intelligence in Retail Market, By End User, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
E-commerce
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Brick-and-Mortar Stores
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Wholesalers
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)

7. Global Artificial Intelligence in Retail Market, By Region, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
North America
- Regional Trends
- Market Size and Forecast, By Technology, 2019-2031, (USD Bn)
- Market Size and Forecast, By Application, 2019-2031, (USD Bn)
- Market Size and Forecast, By End User, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Technology, 2019-2031, (USD Bn)
- Market Size and Forecast, By Application, 2019-2031, (USD Bn)
- Market Size and Forecast, By End User, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Technology, 2019-2031, (USD Bn)
- Market Size and Forecast, By Application, 2019-2031, (USD Bn)
- Market Size and Forecast, By End User, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Technology, 2019-2031, (USD Bn)
- Market Size and Forecast, By Application, 2019-2031, (USD Bn)
- Market Size and Forecast, By End User, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East
- Regional Trends
- Market Size and Forecast, By Technology, 2019-2031, (USD Bn)
- Market Size and Forecast, By Application, 2019-2031, (USD Bn)
- Market Size and Forecast, By End User, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - Israel
  - GCC Countries
  - Rest of the Middle East
Africa
- Regional Trends
- Market Size and Forecast, By Technology, 2019-2031, (USD Bn)
- Market Size and Forecast, By Application, 2019-2031, (USD Bn)
- Market Size and Forecast, By End User, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - South Africa
  - North Africa
  - Central Africa

8. Competitive Landscape

Company Profiles
- Adobe
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Alibaba Group
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Amazon Web Services (AWS)
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Apple
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Appier
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Ceconomy
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Edeka
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Foot Locker
- Home Depot
- IBM
- Kroger
- Lemon AI
- Lowe's
- Microsoft
- NIKE

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
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