Artificial Intelligence (AI) in Retail Market Size, By Component, By Technology, By Application, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023

Description

List of Tables

AI in Retail Market is expected to grow significantly between 2023 and 2032, owing to the increasing preference for chatbots in online retail websites. This enables retailers to offer customer care and answer consumer queries 24/7.

Besides, the leading companies in the market are actively pursuing partnership and acquisition opportunities in a bid to expand their operations. The collaborations among such firms are expected to assist them in integrating AI technology with this platform and providing the best customer experience possible. For instance, in September 2022, Lowe's announced partnership with Magic Leap and NVIDIA. Through this partnership, the involved companies can improve their combined operations and offer customized services to better meet clients' needs.

Overall, the AI in retail market has been segmented in terms of component, technology, application, and region.

Considering the components, AI services in retail sector are poised to gain major traction in the coming years. Services including managed services and professional services offer vivid benefits such as reduced costs, enhanced customer satisfaction, improved security, increased sales, and optimum supply chain management.

Based on technology, the natural language processing segment attained over $2 billion in revenue in 2022. The segmental growth can be attributed to the growing preference for NLP technology in the retail industry. The technology has penetrated the retail and e-commerce industries, making it more tangible and accessible than ever before.

Additionally, NPL-enabled chatbots can respond to customers' questions and resolve issues on the e-commerce website without any need for human intervention, enabling e-commerce companies to enhance conversion rates, raise customer satisfaction levels, and lower client acquisition expenses, which will result in their increased adaptation by e-commerce businesses.

With respect to application, the data science segment is anticipated to amass more than 20% market share by 2032 end. The market is being driven by the expansion of digital data and the use of smart devices. Data science and AI in the telecom industry offer operators the capabilities to analyze data and apply it for a variety of purposes, including boosting dependability, cutting costs, and enhancing customer experience, which will fuel the market within the next decade.

From the regional perspective, the Asia Pacific AI in the retail market is slated to grow at a sturdy rate over the next ten years. The population increase, economic and social development, changing consumer preferences, and rising spending power are some of the factors driving the retail industry expansion, in turn impelling the regional market prospects throughout 2032.

Product Code: 2568

Chapter 1 Methodology & Scope

1.1 Market Definitions
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 AI in Retail market 360 degree synopsis, 2018 - 2032
2.2 Business Trends
- 2.2.1 Total addressable market(TAM)
2.3 Regional trends
2.4 Component trends
2.5 Technology trends
2.6 Application trends

Chapter 3 AI in Retail Market Insights

3.1 Introduction
3.2 Impact of COVID-19 outbreak
- 3.2.1 North America
- 3.2.2 Europe
- 3.2.3 Asia Pacific
- 3.2.4 South America
- 3.2.5 MEA
3.3 Russia- Ukraine war impact on AI in Retail market
3.4 Evolution of AI in Retail
3.5 Industry ecosystem analysis
- 3.5.1 AI component provider
- 3.5.2 Software providers
- 3.5.3 Application developers
- 3.5.4 Profit margin
- 3.5.5 Vendor matrix
  - 3.5.5.1 Hardware vendors
  - 3.5.5.2 Service vendors
  - 3.5.5.3 Data-analytics vendors
3.6 Technology & innovation landscape
- 3.6.1 Gesture Recognition
- 3.6.2 Robots
3.7 Patent analysis
3.8 Investment portfolio
3.9 Key initiatives and news
3.10 Regulatory landscape
- 3.10.1 North America
- 3.10.2 Europe
- 3.10.3 Asia Pacific
- 3.10.4 Latin America
- 3.10.5 MEA
3.11 Use cases
3.12 Industry impact forces
- 3.12.1 Growth drivers
  - 3.12.1.1 Growing investments in AI
  - 3.12.1.2 Increasingly empowered consumer
  - 3.12.1.3 Rising disruptive technologies
  - 3.12.1.4 Advent of new business models
  - 3.12.1.5 Advancement in data science
- 3.12.2 Industry pitfalls & challenges
  - 3.12.2.1 Limited public-private partnership to address social implications directly
  - 3.12.2.2 Privacy issues associated with the use of AI Growth potential analysis
3.13 Growth potential analysis
3.14 Porter's analysis
3.15 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
- 4.3.1 Amazon Web Services (AWS)
- 4.3.2 Alphabet Inc
- 4.3.3 International Business Machines Corporation(IBM)
- 4.3.4 Microsoft Corporation
- 4.3.5 Intel Corporation
4.4 Competitive analysis of innovative market players, 2022
- 4.4.1 Symbotic
- 4.4.2 Interactions LLC
- 4.4.3 Lexalytics
- 4.4.4 Fujitsu
- 4.4.5 Ibenta Technologies
4.5 Competitive positioning matrix
4.6 Stratgic outlook matrix

Chapter 5 AI in Retail Market, By Component

5.1 Key trends, by component
5.2 Solution
- 5.2.1 Market estimates and forecast, 2018 - 2032
- 5.2.2 Chatbots
  - 5.2.2.1 Market estimates and forecast, 2018 - 2032
- 5.2.3 Customer Behavior Tracking
  - 5.2.3.1 Market estimates and forecast, 2018 - 2032
- 5.2.4 CRM
  - 5.2.4.1 Market estimates and forecast, 2018 - 2032
- 5.2.5 Inventory Management
  - 5.2.5.1 Market estimates and forecast, 2018 - 2032
- 5.2.6 Price Optimization
  - 5.2.6.1 Market estimates and forecast, 2018 - 2032
- 5.2.7 Recommendation Engines
  - 5.2.7.1 Market estimates and forecast, 2018 - 2032
- 5.2.8 Supply Chain Management
  - 5.2.8.1 Market estimates and forecast, 2018 - 2032
- 5.2.9 Visual Search & Visual Listen
  - 5.2.9.1 Market estimates and forecast, 2018 - 2032
- 5.2.10 Others
  - 5.2.10.1 Market estimates and forecast, 2018 - 2032
5.3 Services
- 5.3.1 Market estimates and forecast, 2018 - 2032
- 5.3.2 Professional Service
  - 5.3.2.1 Market estimates and forecast, 2018 - 2032
- 5.3.3 Managed Service
  - 5.3.3.1 Market estimates and forecast, 2018 - 2032

Chapter 6 AI in Retail Market, By Technology

6.1 Key trends, by technology
6.2 Machine Learning
- 6.2.1 Market estimates and forecast, 2018 - 2032
6.3 Natural Language Processing
- 6.3.1 Market estimates and forecast, 2018 - 2032
6.4 Computer Vision
- 6.4.1 Market estimates and forecast, 2018 - 2032
6.5 Others
- 6.5.1 Market estimates and forecast, 2018 - 2032

Chapter 7 AI in Retail Market, By Application

7.1 Key trends, by application
7.2 Automated Merchandising
- 7.2.1 Market estimates and forecast, 2018 - 2032
7.3 Programmatic Advertising
- 7.3.1 Market estimates and forecast, 2018 - 2032
7.4 Market Forecasting
- 7.4.1 Market estimates and forecast, 2018 - 2032
7.5 In Store AI & location optimization
- 7.5.1 Market estimates and forecast, 2018 - 2032
7.6 Data Science
- 7.6.1 Market estimates and forecast, 2018 - 2032
7.7 Others
- 7.7.1 Market estimates and forecast, 2018 - 2032

Chapter 8 AI in Retail Market, By Region

8.1 Key trends, by region
8.2 North America
- 8.2.1 Market estimates and forecast, by component, 2018 - 2032
  - 8.2.1.1 Market estimates and forecast, by solution, 2018 - 2032
  - 8.2.1.2 Market estimates and forecast, by services, 2018 - 2032
- 8.2.2 Market estimates and forecast, by technology, 2018 - 2032
- 8.2.3 Market estimates and forecast, by application, 2018 - 2032
- 8.2.4 U.S.
  - 8.2.4.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.2.4.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.2.4.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.2.4.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.2.4.3 Market estimates and forecast, by application 2018 - 2032
- 8.2.5 Canada
  - 8.2.5.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.2.5.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.2.5.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.2.5.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.2.5.3 Market estimates and forecast, by application 2018 - 2032
8.3 Europe
- 8.3.1 Market estimates and forecast, by component, 2018 - 2032
  - 8.3.1.1 Market estimates and forecast, by solution, 2018 - 2032
  - 8.3.1.2 Market estimates and forecast, by services, 2018 - 2032
- 8.3.2 Market estimates and forecast, by technology, 2018 - 2032
- 8.3.3 Market estimates and forecast, by application, 2018 - 2032
- 8.3.4 UK
  - 8.3.4.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.3.4.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.3.4.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.3.4.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.3.4.3 Market estimates and forecast, by application 2018 - 2032
- 8.3.5 Germany
  - 8.3.5.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.3.5.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.3.5.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.3.5.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.3.5.3 Market estimates and forecast, by application 2018 - 2032
- 8.3.6 France
  - 8.3.6.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.3.6.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.3.6.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.3.6.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.3.6.3 Market estimates and forecast, by application 2018 - 2032
- 8.3.7 Spain
  - 8.3.7.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.3.7.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.3.7.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.3.7.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.3.7.3 Market estimates and forecast, by application 2018 - 2032
- 8.3.8 Sweden
  - 8.3.8.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.3.8.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.3.8.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.3.8.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.3.8.3 Market estimates and forecast, by application 2018 - 2032
- 8.3.9 Switzerland
  - 8.3.9.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.3.9.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.3.9.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.3.9.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.3.9.3 Market estimates and forecast, by application 2018 - 2032
8.4 Asia Pacific
- 8.4.1 Market estimates and forecast, by component, 2018 - 2032
  - 8.4.1.1 Market estimates and forecast, by solution, 2018 - 2032
  - 8.4.1.2 Market estimates and forecast, by services, 2018 - 2032
- 8.4.2 Market estimates and forecast, by technology, 2018 - 2032
- 8.4.3 Market estimates and forecast, by application, 2018 - 2032
- 8.4.4 China
  - 8.4.4.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.4.4.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.4.4.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.4.4.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.4.4.3 Market estimates and forecast, by application 2018 - 2032
- 8.4.5 India
  - 8.4.5.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.4.5.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.4.5.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.4.5.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.4.5.3 Market estimates and forecast, by application 2018 - 2032
- 8.4.6 Japan
  - 8.4.6.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.4.6.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.4.6.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.4.6.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.4.6.3 Market estimates and forecast, by application 2018 - 2032
- 8.4.7 Australia
  - 8.4.7.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.4.7.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.4.7.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.4.7.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.4.7.3 Market estimates and forecast, by application 2018 - 2032
- 8.4.8 South Korea
  - 8.4.8.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.4.8.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.4.8.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.4.8.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.4.8.3 Market estimates and forecast, by application 2018 - 2032
- 8.4.9 Singapore
  - 8.4.9.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.4.9.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.4.9.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.4.9.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.4.9.3 Market estimates and forecast, by application 2018 - 2032
8.5 Latin America
- 8.5.1 Market estimates and forecast, by component, 2018 - 2032
  - 8.5.1.1 Market estimates and forecast, by solution, 2018 - 2032
  - 8.5.1.2 Market estimates and forecast, by services, 2018 - 2032
- 8.5.2 Market estimates and forecast, by technology, 2018 - 2032
- 8.5.3 Market estimates and forecast, by application, 2018 - 2032
- 8.5.4 Brazil
  - 8.5.4.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.5.4.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.5.4.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.5.4.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.5.4.3 Market estimates and forecast, by application 2018 - 2032
- 8.5.5 Mexico
  - 8.5.5.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.5.5.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.5.5.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.5.5.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.5.5.3 Market estimates and forecast, by application 2018 - 2032
8.6 MEA
- 8.6.1 Market estimates and forecast, by component, 2018 - 2032
  - 8.6.1.1 Market estimates and forecast, by solution, 2018 - 2032
  - 8.6.1.2 Market estimates and forecast, by services, 2018 - 2032
- 8.6.2 Market estimates and forecast, by technology, 2018 - 2032
- 8.6.3 Market estimates and forecast, by application, 2018 - 2032
- 8.6.4 UAE
  - 8.6.4.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.6.4.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.6.4.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.6.4.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.6.4.3 Market estimates and forecast, by application 2018 - 2032
- 8.6.5 Israel
  - 8.6.5.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.6.5.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.6.5.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.6.5.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.6.5.3 Market estimates and forecast, by application 2018 - 2032
- 8.6.6 South Africa
  - 8.6.6.1 Market estimates and forecast, by component, 2018 - 2032
    - 8.6.6.1.1 Market estimates and forecast, by solution, 2018 - 2032
    - 8.6.6.1.2 Market estimates and forecast, by services, 2018 - 2032
  - 8.6.6.2 Market estimates and forecast, by technology, 2018 - 2032
  - 8.6.6.3 Market estimates and forecast, by application 2018 - 2032

Chapter 9 Company Profiles

9.1 Amazon Web Services (AWS)
- 9.1.1 Business Overview
- 9.1.2 Financial Data
- 9.1.3 Product Landscape
- 9.1.4 Strategic Outlook
- 9.1.5 SWOT Analysis
9.2 Baidu Inc
- 9.2.1 Business Overview
- 9.2.2 Financial Data
- 9.2.3 Product Landscape
- 9.2.4 Strategic Outlook
- 9.2.5 SWOT Analysis
9.3 BloomReach Inc
- 9.3.1 Business Overview
- 9.3.2 Financial Data
- 9.3.3 Product Landscape
- 9.3.4 Strategic Outlook
- 9.3.5 SWOT Analysis
9.4 CognitiveScale Inc
- 9.4.1 Business Overview
- 9.4.2 Financial Data
- 9.4.3 Product Landscape
- 9.4.4 Strategic Outlook
- 9.4.5 SWOT Analysis
9.5 Google Inc.
- 9.5.1 Business Overview
- 9.5.2 Financial Data
- 9.5.3 Product Landscape
- 9.5.4 Strategic Outlook
- 9.5.5 SWOT Analysis
9.6 IBM Corporation
- 9.6.1 Business Overview
- 9.6.2 Financial Data
- 9.6.3 Product Landscape
- 9.6.4 Strategic Outlook
- 9.6.5 SWOT Analysis
9.7 Ibenta Technologies
- 9.7.1 Business Overview
- 9.7.2 Financial Data
- 9.7.3 Product Landscape
- 9.7.4 Strategic Outlook
- 9.7.5 SWOT Analysis
9.8 Intel Corporation
- 9.8.1 Business Overview
- 9.8.2 Financial Data
- 9.8.3 Product Landscape
- 9.8.4 Strategic Outlook
- 9.8.5 SWOT Analysis
9.9 Interactions LLC
- 9.9.1 Business Overview
- 9.9.2 Financial Data
- 9.9.3 Product Landscape
- 9.9.4 Strategic Outlook
- 9.9.5 SWOT Analysis
9.10 Lexalytics Inc.
- 9.10.1 Business Overview
- 9.10.2 Financial Data
- 9.10.3 Product Landscape
- 9.10.4 Strategic Outlook
- 9.10.5 SWOT Analysis
9.11 Microsoft Corporation
- 9.11.1 Business Overview
- 9.11.2 Financial Data
- 9.11.3 Product Landscape
- 9.11.4 Strategic Outlook
- 9.11.5 SWOT Analysis
9.12 Next IT Corp.
- 9.12.1 Business Overview
- 9.12.2 Financial Data
- 9.12.3 Product Landscape
- 9.12.4 Strategic Outlook
- 9.12.5 SWOT Analysis
9.13 Nvidia Corporation
- 9.13.1 Business Overview
- 9.13.2 Financial Data
- 9.13.3 Product Landscape
- 9.13.4 Strategic Outlook
- 9.13.5 SWOT Analysis
9.14 Oracle Corporation
- 9.14.1 Business Overview
- 9.14.2 Financial Data
- 9.14.3 Product Landscape
- 9.14.4 Strategic Outlook
- 9.14.5 SWOT Analysis
9.15 RetailNext Inc.
- 9.15.1 Business Overview
- 9.15.2 Financial Data
- 9.15.3 Product Landscape
- 9.15.4 Strategic Outlook
- 9.15.5 SWOT Analysis
9.16 Salesforce.com Inc.
- 9.16.1 Business Overview
- 9.16.2 Financial Data
- 9.16.3 Product Landscape
- 9.16.4 Strategic Outlook
- 9.16.5 SWOT Analysis
9.17 SAP SE
- 9.17.1 Business Overview
- 9.17.2 Financial Data
- 9.17.3 Product Landscape
- 9.17.4 Strategic Outlook
- 9.17.5 SWOT Analysis
9.18 Sentient Technologies
- 9.18.1 Business Overview
- 9.18.2 Financial Data
- 9.18.3 Product Landscape
- 9.18.4 Strategic Outlook
- 9.18.5 SWOT Analysis
9.19 Visenze
- 9.19.1 Business Overview
- 9.19.2 Financial Data
- 9.19.3 Product Landscape
- 9.19.4 Strategic Outlook
- 9.19.5 SWOT Analysis
9.20 Symbotic
- 9.20.1 Business Overview
- 9.20.2 Financial Data
- 9.20.3 Product Landscape
- 9.20.4 Strategic Outlook
- 9.20.5 SWOT Analysis