Artificial Intelligence in Retail Market to Reach USD 36.87 Billion by 2030, Growing at a CAGR of 23.87%

Artificial Intelligence in Retail Market to Reach USD 36.87 Billion by 2030, Growing at a CAGR of 23.87%

Revolutionizing Retail: AI Market to Witness Exponential Growth

Summary: The global Artificial Intelligence in Retail Market was valued at USD 8.24 billion in 2023 and is expected to grow at a CAGR of 23.87% from 2024 to 2030, reaching nearly USD 36.87 billion by 2030. This growth is driven by the increasing adoption of AI in customer relationship management, predictive merchandising, and supply chain optimization.

To learn more about the market analysis, read the Summary of the Research Report:https://www.maximizemarketresearch.com/request-sample/1893/ 

Artificial Intelligence in Retail Market Overview

The Artificial Intelligence in Retail Market is undergoing rapid expansion, transforming the industry through automation, enhanced customer experiences, and data-driven decision-making. AI is reshaping retail through advanced analytics, personalized recommendations, and automated checkout systems. The increasing reliance on AI-driven solutions by major retailers is a key factor propelling market growth.

Market Size

• Market Value (2023): USD 8.24 billion

• Projected Market Value (2030): USD 36.87 billion

• CAGR (2024-2030): 23.87%

The surge in AI adoption is largely due to the rising demand for automation in retail, increased customer expectations, and the need for improved operational efficiency.

Scope and Research Methodology

The research presents a comprehensive analysis of the Artificial Intelligence in Retail Market, covering multiple aspects such as components, applications, industry verticals, and geographical regions. The study was conducted using primary and secondary research methodologies, including data collection from major industry players and rigorous market analysis techniques.

Report Coverage

The report extensively covers:

• Market trends and growth projections

• Key drivers and challenges influencing the market

• Industry developments and emerging opportunities

• Competitive landscape and major players

• Impact of COVID-19 on the retail AI sector

Market Dynamics

Drivers:

• Rapid digital transformation in retail

• Increasing demand for personalized shopping experiences

• AI-powered inventory management and automation

• Growth of e-commerce platforms integrating AI solutions

Challenges:

• High initial investment costs

• Data privacy and security concerns

• Need for skilled professionals to manage AI-driven retail systems

Opportunities:

• Advancements in AI-driven predictive analytics

• Expansion of omnichannel retail experiences

• AI integration in payment and fraud detection systems

Market Segmentation

By Type:

• Online

• Offline

By Solution:

• Product Recommendation & Planning

• Customer Relationship Management

• Visual Search

• Virtual Assistant

• Price Optimization

• Payment Services Management

• Supply Chain Management & Demand Planning

By Technology:

• Machine Learning & Deep Learning

• Natural Language Processing

• Others

By Deployment Mode:

• Cloud

• On-Premises

By Application:

• Predictive Merchandising

• Programmatic Advertising

• Market Forecasting

• In-Store Visual Monitoring & Surveillance

• Location-Based Marketing

Key Players in the Artificial Intelligence in Retail Market

North America:

• IBM Corporation

• Microsoft Corporation

• Amazon Web Services

• Oracle

• SAP

• Google Inc.

• NVIDIA Corporation

• Intel Corporation

Asia-Pacific:

• Baidu Inc.

Global Players:

• BloomReach Inc.

• CognitiveScale Inc.

• NEXT IT Corp.

• RetailNext Inc.

• Salesforce.com Inc.

Why You Should Buy This Report

• Gain insights into market trends and forecasts for AI in retail

• Understand regional growth potential and industry dynamics

• Analyze key competitors and their market positioning

• Identify investment opportunities and growth areas in AI adoption

• Stay updated with emerging AI applications in the retail sector

Table of Contents:

1. Introduction

2. Market Overview

3. Market Dynamics

4. Market Segmentation

5. Regional Analysis

6. Competitive Landscape

7. Recent Developments

8. Future Outlook

9. Conclusion

To learn more about the market analysis, read the Summary of the Research Report:https://www.maximizemarketresearch.com/market-report/artificial-intelligence-ai-in-retail-market/1893/ 

About Maximize Market Research

Maximize Market Research is a globally recognized market research and business consulting agency serving clients worldwide. With a revenue-focused approach and growth-driven insights, we have collaborated with numerous Fortune 500 organizations. Our expertise spans diverse industries, including IT & telecommunications, healthcare, aerospace, chemical, food & beverage, and many more.

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