Cover Image
Market Research Report

Artificial Intelligence for Retail Applications: Global Market Analysis and Forecasts

Published by Omdia | Tractica Product code 929306
Published Content info 59 Pages; 20 Tables, Charts & Figures
Delivery time: 1-2 business days
Price
Back to Top
Artificial Intelligence for Retail Applications: Global Market Analysis and Forecasts
Published: March 23, 2020 Content info: 59 Pages; 20 Tables, Charts & Figures
Description

Title:
Artificial Intelligence for Retail Applications
Supply Chain & Inventory Management, Virtual Digital Assistants, Video Surveillance, Image Recognition, Stockout Management & Promotion Compliance, Personalized Customer Journeys, Autonomous Stores, Merchandising, Shopper Behavior Analytics, Returns Management, and Other Use Cases: Global Market Analysis and Forecasts.

The retail industry has been facing major headwinds spawned by disruptors like Amazon, Alibaba, and Walmart, as well as hundreds of hungry startups, that have built lean, analytics-driven organizations based on scale and efficiency. The goal of these organizations is to drive top-line revenue and reduce operating costs. Overall, revenue and margins are under pressure as these more efficient and scalable disruptors draw more buyers and sales with sharper pricing, personalized customer journeys, and finely tuned assortments. Meanwhile, they are driving down costs through efficiencies in supply chain & inventory management.

The stakes are high. It is estimated that hundreds of billions of dollars are lost every year through missed opportunities and excess costs due to issues. Increasingly, a broad range of solutions providers and pioneering retailers are launching AI-driven solutions that are taking the following steps: leveraging contextual personal data and predictive analytics; improving search functionality through sharper meta-tagging and visual search; creating digital maps of in-store inventory; and applying predictive analytics and data science.

This Omdia - Tractica Focus Report examines the market issues surrounding AI use cases in the retail industry and presents profiles for key industry players throughout the ecosystem. It analyzes 11 major use cases: supply chain & inventory management; e-commerce VDAs; video surveillance; image recognition (visual search, content management, & advertising); stockout management & promotion compliance; personalized customer journeys; autonomous stores; merchandising; shopper behavior analytics; customer service & marketing VDAs; and returns management. Global market forecasts for retail AI software spending, segmented by region and use case, extend through 2025.

Key Questions Addressed:

  • What is the current state of the market for retail AI software and how will it develop over the next 5 years?
  • What use cases will drive greater adoption of retail AI software around the globe?
  • What are the key drivers of market growth and the major challenges faced by retail AI applications in each world region?
  • Which companies are the major players in the market, what is their competitive positioning, and which are poised for the greatest success in the years ahead?
  • What is the size of the global retail AI software market opportunity?

Who Needs This Report?

  • Retailers
  • Retail industry hardware and software solutions providers
  • AI hardware and software companies
  • Customer experience-focused solutions providers
  • Investor community
Table of Contents
Product Code: AIRET-20

Table of Contents

Table of contents

Table of charts and figures

Executive Summary

  • Introduction
  • Market drivers
  • Market barriers
  • Key use cases
  • Market forecast highlights

Market Issues

  • Overview
  • Market drivers
    • AI: Reducing costs, increasing efficiencies
    • Brick-and-mortar slow drain
      • Physical retail: The rumors of its death have been greatly exaggerated
    • Omnichannel and harmonization
    • Inefficiencies in inventory management
    • Substandard search and product identification
    • Inefficiencies in product marketing management
    • Personalization
    • Lack of understanding physical shopper behavior
    • High cost of returns
  • Market barriers
    • Unrealistic expectations
    • Over-hyped and over-sold
    • Societal backlash and ethics
    • Need for accurate data
    • Lack of experienced talent
    • Change management issues

Use Cases

  • Introduction
  • Supply chain & inventory management
  • E-commerce VDAs
  • Video surveillance
  • Image recognition: Visual search, content management, & advertising
  • Stockout management & promotion compliance
  • Personalized customer journeys
  • Autonomous stores
  • Merchandising
    • Inmar Intelligence
  • Shopper behavior analytics
  • Customer service VDAs
    • Multiple signs of maturity
    • Channel wars: Voice, digital, or both?
    • Hybrid-live solutions
    • Agent-assist emerges
  • Returns management
    • Secret Sauce Partners
  • Other use cases
    • Freight breakdown & maintenance
    • Localization & mapping
    • Warehouse automation
    • Voice/speech recognition
    • Face recognition
    • Online product review analysis
    • Satellite imagery for geo-analytics
    • Human emotion analysis
    • Interactive window displays
    • Virtual fitting rooms
    • Real-time media & social intelligence
    • Workforce management & scheduling
    • Weather forecasting

Key Industry Players

  • Introduction
  • Adobe
  • AiFi
  • Badger Technologies
  • Clarifai
  • Google Cloud
  • IBM
  • Inmar Intelligence
  • Intelligence Node
  • Microsoft
  • Nextail
  • Oracle
  • Pensa Systems
  • Salesforce
  • SAP
  • SAS
  • Secret Sauce Partners
  • Shelfie
  • Symphony AI
  • ViSenze
  • Vue.ai
  • Other industry players

Market Forecasts

  • Forecast methodology
  • Total AI software spending for retail use cases
  • AI software spending by use case
  • AI software spending by region
  • Conclusions and recommendations

Appendix

  • Company directory
  • Acronym and abbreviation list
  • Scope of study
  • Sources and methodology
  • Notes

Tables

  • Total retail AI software spending by region, world markets: 2019-2025
  • Total retail AI software spending by use case, world markets: 2019-2025
  • Retail AI software spending by use case, North America: 2019-2025
  • Retail AI software spending by use case, Europe: 2019-2025
  • Retail AI software spending by use case, Asia Pacific: 2019-2025
  • Retail AI software spending by use case, Latin America: 2019-2025
  • Retail AI software spending by use case, Middle East & Africa: 2019-2025
  • Retail AI use cases, listed by spending
  • Other industry participants

Figures

  • Total retail AI software spending by region, world markets: 2019-2025
  • Retail AI software spending share by top 11 use cases, world markets: 2025
  • Retail AI software spending share by top 11 use cases, world markets: 2025
  • Computer vision-enabled tagging
  • Badger Technologies robot at work
  • Pensa Systems drone
  • Microsoft 2018 State of Global Customer Service Report - Channel preference
  • Online returns growing
  • Creative professionals estimate
  • Adobe vision for digital experience solutions
  • AiFi nano store concept
Back to Top