Artificial Intelligence (AI) Market in Retail – 40% of Growth Will Come from North America | Driven by rising investment and R&D in AI startups

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NEW YORK, June 29, 2022 /PRNewswire/ — The report “Artificial Intelligence (AI) in the Retail Industry Market – Competitive Analysis, Drivers, Trends, Challenges and Five Forces Analysis” has been added to Technavio’s offering. Artificial Intelligence (AI) in Retail Market Market Value is Expected to Grow by $29.57 billionat CAGR of 35.69% from 2021 to 2026.

Technavio has announced its latest market research report titled Artificial Intelligence (AI) in Retail Sector Market by Application and Geography – Forecast and Analysis 2022-2026

40% of market growth will come from North America during the forecast period. The United States and Canada are the main markets for artificial intelligence (AI) in the retail sector in North America. The growth of the market in this region will be faster than the growth of the market in South America and AEM. Significant increase in investments in technology and early adoption of AI will facilitate the growth of the artificial intelligence (AI) in retail sector market in North America over the forecast period.

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Market dynamics

The key factor driving the growth of the global artificial intelligence (AI) market in the retail sector is the rise of investment and R&D in AI startups. Many governments have developed formal AI frameworks and strategies, such as the US Executive Order on US AI Leadership, China Development plan for next-generation artificial intelligence and AI Made in Germanyall of which aim to stimulate economic and technological growth.

However, the main challenge to the growth of the global market for artificial intelligence in the retail sector is the privacy issues associated with AI deployment. Using advanced data mining techniques, data is collected on several parameters such as customer’s shopping habits, online behavior and payment information.

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Company Profiles

The market for artificial intelligence (AI) in the retail sector is fragmented and sellers are deploying growth strategies such as pricing and marketing strategies and product differentiation to compete in the market.

Some of the companies covered in this report are Accenture Plc, Amazon.com Inc., BloomReach Inc., Capgemini SE, Daisy Intelligence Corp., Element AI Inc., Evolv Technology Solutions Inc., Inbenta Technologies Inc., Infosys Ltd., Intel Corp., International Business Machines Corp. , Mad Street Den Inc., Microsoft Corp., NVIDIA Corp., Oracle Corp., Plexure Group Ltd., Salesforce.com Inc., SAP SE, Symphony Retail Solutions and Trax Technology Solutions Pte. Ltd., etc.

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Competitive analysis

The competitive scenario provided in the Artificial Intelligence (AI) in Retail Sector market report analyzes, evaluates and positions the companies based on various performance indicators. Some of the factors taken into account for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, market share growth, etc.

Segmentation analysis

  • By Application, the market is categorized into sales and marketing, in-store, PPP, and logistics management.

  • By Geography, the market is classified as North AmericaACPA, Europethe Middle East and Africaand South America.

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Market Scope of Artificial Intelligence (AI) in the Retail Industry

Report cover

Details

Page number

120

Year of reference

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 35.69%

Market Growth 2022-2026

$29.57 billion

Market structure

Fragmented

Annual growth (%)

31.45

Regional analysis

North America, APAC, Europe, Middle East and Africa and South America

Successful market contribution

North America at 40%

Main consumer countries

United States, Canada, China, Japan and United Kingdom

Competitive landscape

Leading Companies, Competitive Strategies, Consumer Engagement Reach

Profiled Key Companies

Accenture Plc, Amazon.com Inc., BloomReach Inc., Capgemini SE, Daisy Intelligence Corp., Element AI Inc., Evolv Technology Solutions Inc., Inbenta Technologies Inc., Infosys Ltd., Intel Corp., International Business Machines Corp. , Mad Street Den Inc., Microsoft Corp., NVIDIA Corp., Oracle Corp., Plexure Group Ltd., Salesforce.com Inc., SAP SE, Symphony Retail Solutions and Trax Technology Solutions Pte. ltd.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Recovery Analysis and Future Consumer Dynamics, Market Status Analysis for the forecast period

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Application

6 Customer Landscape

7 Geographic landscape

8 drivers, challenges and trends

9 Supplier Landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

Contact

Technavio Research
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Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

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