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Artificial Intelligence in Retail Market Research Report: By Offering, Technology - Global Industry Analysis and Growth Forecast to 2030

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    Report

  • 154 Pages
  • January 2022
  • Region: Global
  • Prescient & Strategic Intelligence Private Limited
  • ID: 4844618
By 2025, e-commerce sales are expected to reach $7.3 trillion, which will drive the AI in retail market value to $36,462.5 million by 2030 from an estimated $1,714.3 million in 2021, according to the market research report. This is because retailers are using AI to offer personalized services and product recommendations and predict consumer behavior. AI is also being leveraged by e-commerce platforms for accurate demand forecasting, supply chain planning, and real-time customer intelligence gathering.



Among all the AI solutions designed for retailers, recommendation engines are the most popular. Online retailers are using them to study customers' activity on the internet and recommend related products and services based on it. Since marketing everything to everyone, like in TVs and newspapers, doesn't always give the desired returns, retailers are marketing only the products and services that customers are interested in, using recommendation engines.

Key Findings of AI in Retail Market Report

  • In the coming years, the demand for related services will rise faster among retailers adopting AI solutions. Services offered by AI vendors include data management, software monitoring, training, and system maintenance and support.
  • Machine learning is the most-widely used technology among AI in retail market end users as it allows them to enhance customers' shopping experience by making accurate purchase recommendations.
  • Natural language processing (NLP) is another popular AI technology among retailers because it understands and processes human language, thereby allowing users to offer personalized shopping experiences.
  • Moreover, AI is now being utilized for marketing via multiple channels, primarily to analyze in-store consumer behavior and for e-mail marketing and campaign management.
  • Seeing the vast benefit AI offers, major retailers are increasing their investments in allied technologies. For instance, IKEA has acquired Geomagical Labs, which offers augmented reality and AI solutions.
  • Similarly, in April 2019, Reliance Jio Digital Services Ltd. finalized plans for the acquisition of an 87.0% stake in AI-driven conversational platform Haptik Inc.

The COVID-19 pandemic has accelerated such activities, thus affecting the AI in retail market positively. In 2020, lockdowns forced people inside their homes, which led to a sharp surge in the number of online shoppers. As per the United Nations, the top 13 online shopping platforms witnessed an over 20% increase in sales in 2020.

In the coming years, the aftereffects of the pandemic will drive the AI in retail market at the highest rate in Asia-Pacific (APAC). As per the UN, most of the 13 companies that witnessed the massive jump in sales in 2020 were based in the U.S. and China. Moreover, online sales in China, Australia, and Singapore in 2020 grew by 24.9%, 9.4%, and 11.7%, respectively, faster than in 2019. This is also credited to the increasing sale of smartphones and rising penetration of the internet here.

Table of Contents

Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Offering
1.3.2 Market Segmentation by Technology
1.3.3 Market Segmentation by Region
1.3.4 Analysis Period
1.3.5 Market Data Reporting Unit
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 by Region
2.2.1.2 by Industry Participant
2.2.1.3 by Company Type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 by Offering
4.1.1.1 Solution
4.1.1.1.1 Chatbot
4.1.1.1.2 Crm
4.1.1.1.3 Price Optimization
4.1.1.1.4 Recommendation Engine
4.1.1.1.5 Scm
4.1.1.1.6 Visual Search
4.1.1.1.7 Others
4.1.1.2 Service
4.1.1.2.1 Professional
4.1.1.2.2 Managed
4.1.2 by Technology
4.1.2.1 Machine Learning
4.1.2.2 Nlp
4.1.2.3 Computer Vision
4.1.2.4 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Adoption of Ai for Multi-Channel Marketing
4.3.2 Drivers
4.3.2.1 Growing E-Retail Industry
4.3.2.2 Increasing Investments in Ai by Retail Companies
4.3.3 Restraints
4.3.3.1 Lack of Qualified Ai Professionals
4.3.3.2 High Cost of Ai-Based Solutions
4.3.4 Opportunities
4.3.4.1 Rising Demand for Ai-Based Chatbots
4.3.4.2 Growing Adoption of Ai-Based Image Recognition Technology
4.4 Impact of Covid-19 on Ai in Retail Market
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Intensity of Rivalry
4.5.5 Threat of Substitutes
Chapter 5. Global Market Size and Forecast
5.1 by Offering
5.1.1 Solution Market, by Type
5.1.2 Service Market, by Type
5.2 by Technology
5.3 by Region
Chapter 6. North America Market Size and Forecast
6.1 by Offering
6.1.1 Solution Market, by Type
6.1.2 Service Market, by Type
6.2 by Technology
6.3 by Country
Chapter 7. Europe Market Size and Forecast
7.1 by Offering
7.1.1 Solution Market, by Type
7.1.2 Service Market, by Type
7.2 by Technology
7.3 by Country
Chapter 8. APAC Market Size and Forecast
8.1 by Offering
8.1.1 Solution Market, by Type
8.1.2 Service Market, by Type
8.2 by Technology
8.3 by Country
Chapter 9. LATAM Market Size and Forecast
9.1 by Offering
9.1.1 Solution Market, by Type
9.1.2 Service Market, by Type
9.2 by Technology
9.3 by Country
Chapter 10. MEA Market Size and Forecast
10.1 by Offering
10.1.1 Solution Market, by Type
10.1.2 Service Market, by Type
10.2 by Technology
10.3 by Country
Chapter 11. Competitive Landscape
11.1 Ranking of Key Players
11.2 Competitive Benchmarking of Key Players
11.3 Key Players and Their Offerings
11.4 Strategic Developments of Key Players
11.4.1 Partnerships and Collaborations
11.4.2 Mergers and Acquisitions
11.4.3 Others
Chapter 12. Company Profiles
12.1 International Business Machines Corporation
12.1.1 Business Overview
12.1.2 Product and Service Offerings
12.1.3 Key Financial Summary
12.2 Microsoft Corporation
12.2.1 Business Overview
12.2.2 Product and Service Offerings
12.2.3 Key Financial Summary
12.3 Google LLC
12.3.1 Business Overview
12.3.2 Product and Service Offerings
12.4 Salesforce.Com Inc.
12.4.1 Business Overview
12.4.2 Product and Service Offerings
12.4.3 Key Financial Summary
12.5 Oracle Corporation
12.5.1 Business Overview
12.5.2 Product and Service Offerings
12.6 Sap Se
12.6.1 Business Overview
12.6.2 Product and Service Offerings
12.6.3 Key Financial Summary
12.7 Accenture plc
12.7.1 Business Overview
12.7.2 Product and Service Offerings
12.7.3 Key Financial Summary
12.8 Infosys Limited
12.8.1 Business Overview
12.8.2 Product and Service Offerings
12.8.3 Key Financial Summary
12.9 Intel Corporation
12.9.1 Business Overview
12.9.2 Product and Service Offerings
12.9.3 Key Financial Summary
12.10 Amazon.Com Inc.
12.10.1 Business Overview
12.10.2 Product and Service Offerings
12.10.3 Key Financial Summary
12.11 Visenze Pte. Ltd.
12.11.1 Business Overview
12.11.2 Product and Service Offerings
12.12 Evolv Technology Solutions Inc.
12.12.1 Business Overview
12.12.2 Product and Service Offerings
Chapter 13. Appendix
13.1 Abbreviations
13.2 Sources and References
13.3 Related Reports
List of Tables
Table 1 Analysis Period of the Study
Table 2 Drivers for the Market: Impact Analysis
Table 3 Restraints for the Market: Impact Analysis
Table 4 Global Ai in Retail Market, by Offering, $M (2015-2021)
Table 5 Global Ai in Retail Market, by Offering, $M (2022-2026)
Table 6 Global Ai in Retail Market, by Offering, $M (2027-2030)
Table 7 Global Ai in Retail Solution Market, by Type, $M (2015-2021)
Table 8 Global Ai in Retail Solution Market, by Type, $M (2022-2026)
Table 9 Global Ai in Retail Solution Market, by Type, $M (2027-2030)
Table 10 Global Ai in Retail Service Market, by Type, $M (2015-2021)
Table 11 Global Ai in Retail Service Market, by Type, $M (2022-2026)
Table 12 Global Ai in Retail Service Market, by Type, $M (2027-2030)
Table 13 Global Ai in Retail Market, by Technology, $M (2015-2021)
Table 14 Global Ai in Retail Market, by Technology, $M (2022-2026)
Table 15 Global Ai in Retail Market, by Technology, $M (2027-2030)
Table 16 Global Ai in Retail Market, by Region, $M (2015-2021)
Table 17 Global Ai in Retail Market, by Region, $M (2022-2026)
Table 18 Global Ai in Retail Market, by Region, $M (2027-2030)
Table 19 North America Ai in Retail Market, by Offering, $M (2015-2021)
Table 20 North America Ai in Retail Market, by Offering, $M (2022-2026)
Table 21 North America Ai in Retail Market, by Offering, $M (2027-2030)
Table 22 North America Ai in Retail Solution Market, by Type, $M (2015-2021)
Table 23 North America Ai in Retail Solution Market, by Type, $M (2022-2026)
Table 24 North America Ai in Retail Solution Market, by Type, $M (2027-2030)
Table 25 North America Ai in Retail Service Market, by Type, $M (2015-2021)
Table 26 North America Ai in Retail Service Market, by Type, $M (2022-2026)
Table 27 North America Ai in Retail Service Market, by Type, $M (2027-2030)
Table 28 North America Ai in Retail Market, by Technology, $M (2015-2021)
Table 29 North America Ai in Retail Market, by Technology, $M (2022-2026)
Table 30 North America Ai in Retail Market, by Technology, $M (2027-2030)
Table 31 North America Ai in Retail Market, by Country, $M (2015-2021)
Table 32 North America Ai in Retail Market, by Country, $M (2022-2026)
Table 33 North America Ai in Retail Market, by Country, $M (2027-2030)
Table 34 Europe Ai in Retail Market, by Offering, $M (2015-2021)
Table 35 Europe Ai in Retail Market, by Offering, $M (2022-2026)
Table 36 Europe Ai in Retail Market, by Offering, $M (2027-2030)
Table 37 Europe Ai in Retail Solution Market, by Type, $M (2015-2021)
Table 38 Europe Ai in Retail Solution Market, by Type, $M (2022-2026)
Table 39 Europe Ai in Retail Solution Market, by Type, $M (2027-2030)
Table 40 Europe Ai in Retail Service Market, by Type, $M (2015-2021)
Table 41 Europe Ai in Retail Service Market, by Type, $M (2022-2026)
Table 42 Europe Ai in Retail Service Market, by Type, $M (2027-2030)
Table 43 Europe Ai in Retail Market, by Technology, $M (2015-2021)
Table 44 Europe Ai in Retail Market, by Technology, $M (2022-2026)
Table 45 Europe Ai in Retail Market, by Technology, $M (2027-2030)
Table 46 Europe Ai in Retail Market, by Country, $M (2015-2021)
Table 47 Europe Ai in Retail Market, by Country, $M (2022-2026)
Table 48 Europe Ai in Retail Market, by Country, $M (2027-2030)
Table 49 APAC Ai in Retail Market, by Offering, $M (2015-2021)
Table 50 APAC Ai in Retail Market, by Offering, $M (2022-2026)
Table 51 APAC Ai in Retail Market, by Offering, $M (2027-2030)
Table 52 APAC Ai in Retail Solution Market, by Type, $M (2015-2021)
Table 53 APAC Ai in Retail Solution Market, by Type, $M (2022-2026)
Table 54 APAC Ai in Retail Solution Market, by Type, $M (2027-2030)
Table 55 APAC Ai in Retail Service Market, by Type, $M (2015-2021)
Table 56 APAC Ai in Retail Service Market, by Type, $M (2022-2026)
Table 57 APAC Ai in Retail Service Market, by Type, $M (2027-2030)
Table 58 APAC Ai in Retail Market, by Technology, $M (2015-2021)
Table 59 APAC Ai in Retail Market, by Technology, $M (2022-2026)
Table 60 APAC Ai in Retail Market, by Technology, $M (2027-2030)
Table 61 APAC Ai in Retail Market, by Country, $M (2015-2021)
Table 62 APAC Ai in Retail Market, by Country, $M (2022-2026)
Table 63 APAC Ai in Retail Market, by Country, $M (2027-2030)
Table 64 LATAM Ai in Retail Market, by Offering, $M (2015-2021)
Table 65 LATAM Ai in Retail Market, by Offering, $M (2022-2026)
Table 66 LATAM Ai in Retail Market, by Offering, $M (2027-2030)
Table 67 LATAM Ai in Retail Solution Market, by Type, $M (2015-2021)
Table 68 LATAM Ai in Retail Solution Market, by Type, $M (2022-2026)
Table 69 LATAM Ai in Retail Solution Market, by Type, $M (2027-2030)
Table 70 LATAM Ai in Retail Service Market, by Type, $M (2015-2021)
Table 71 LATAM Ai in Retail Service Market, by Type, $M (2022-2026)
Table 72 LATAM Ai in Retail Service Market, by Type, $M (2027-2030)
Table 73 LATAM Ai in Retail Market, by Technology, $M (2015-2021)
Table 74 LATAM Ai in Retail Market, by Technology, $M (2022-2026)
Table 75 LATAM Ai in Retail Market, by Technology, $M (2027-2030)
Table 76 LATAM Ai in Retail Market, by Country, $M (2015-2021)
Table 77 LATAM Ai in Retail Market, by Country, $M (2022-2026)
Table 78 LATAM Ai in Retail Market, by Country, $M (2027-2030)
Table 79 MEA Ai in Retail Market, by Offering, $M (2015-2021)
Table 80 MEA Ai in Retail Market, by Offering, $M (2022-2026)
Table 81 MEA Ai in Retail Market, by Offering, $M (2027-2030)
Table 82 MEA Ai in Retail Solution Market, by Type, $M (2015-2021)
Table 83 MEA Ai in Retail Solution Market, by Type, $M (2022-2026)
Table 84 MEA Ai in Retail Solution Market, by Type, $M (2027-2030)
Table 85 MEA Ai in Retail Service Market, by Type, $M (2015-2021)
Table 86 MEA Ai in Retail Service Market, by Type, $M (2022-2026)
Table 87 MEA Ai in Retail Service Market, by Type, $M (2027-2030)
Table 88 MEA Ai in Retail Market, by Technology, $M (2015-2021)
Table 89 MEA Ai in Retail Market, by Technology, $M (2022-2026)
Table 90 MEA Ai in Retail Market, by Technology, $M (2027-2030)
Table 91 MEA Ai in Retail Market, by Country, $M (2015-2021)
Table 92 MEA Ai in Retail Market, by Country, $M (2022-2026)
Table 93 MEA Ai in Retail Market, by Country, $M (2027-2030)
Table 94 Competitive Benchmarking of Key Players
Table 95 Key Market Players and Their Offerings
Table 96 International Business Machines Corporation - at a Glance
Table 97 International Business Machines Corporation - Key Financial Summary
Table 98 Microsoft Corporation - at a Glance
Table 99 Microsoft Corporation - Key Financial Summary
Table 100 Google LLC - at a Glance
Table 101 Salesforce.Com Inc. - at a Glance
Table 102 Salesforce.Com Inc. - Key Financial Summary
Table 103 Oracle Corporation - at a Glance
Table 104 Oracle Corporation - Key Financial Summary
Table 105 Sap Se - at a Glance
Table 106 Sap Se - Key Financial Summary
Table 107 Accenture plc - at a Glance
Table 108 Accenture plc - Key Financial Summary
Table 109 Infosys Limited - at a Glance
Table 110 Infosys Limited - Key Financial Summary
Table 111 Intel Corporation - at a Glance
Table 112 Intel Corporation - Key Financial Summary
Table 113 Amazon.Com Inc. - at a Glance
Table 114 Amazon.Com Inc. - Key Financial Summary
Table 115 Visenze Pte. Ltd. - at a Glance
Table 116 Evolv Technology Solutions Inc. - at a Glance
List of Figures
Figure 1 Research Scope
Figure 2 Research Methodology
Figure 3 Breakdown of Primary Research by Region
Figure 4 Breakdown of Primary Research by Industry Participant
Figure 5 Breakdown of Primary Research by Company Type
Figure 6 Data Triangulation Approach
Figure 7 Ai in Retail Market Summary
Figure 8 Value Chain Analysis
Figure 9 Bargaining Power of Buyers
Figure 10 Bargaining Power of Suppliers
Figure 11 Threat of New Entrants
Figure 12 Intensity of Rivalry
Figure 13 Threat of Substitutes
Figure 14 Global Ai in Retail Market Snapshot
Figure 15 Global Ai in Retail Market, by Offering, $M (2015-2030)
Figure 16 Global Ai in Retail Solution Market, by Type, $M (2015-2030)
Figure 17 Global Ai in Retail Service Market, by Type, $M (2015-2030)
Figure 18 Global Ai in Retail Market, by Technology, $M (2015-2030)
Figure 19 Major Worldwide Markets for Ai-Based Retail Solutions
Figure 20 Global Ai in Retail Market, by Region, $M (2015-2030)
Figure 21 North America Ai in Retail Market Snapshot
Figure 22 North America Ai in Retail Market, by Offering, $M (2015-2030)
Figure 23 North America Ai in Retail Solution Market, by Type, $M (2015-2030)
Figure 24 North America Ai in Retail Service Market, by Type, $M (2015-2030)
Figure 25 North America Ai in Retail Market, by Technology, $M (2015-2030)
Figure 26 North America Ai in Retail Market, by Country, $M (2015-2030)
Figure 27 Europe Ai in Retail Market Snapshot
Figure 28 Europe Ai in Retail Market, by Offering, $M (2015-2030)
Figure 29 Europe Ai in Retail Solution Market, by Type, $M (2015-2030)
Figure 30 Europe Ai in Retail Service Market, by Type, $M (2015-2030)
Figure 31 Europe Ai in Retail Market, by Technology, $M (2015-2030)
Figure 32 Europe Ai in Retail Market, by Country, $M (2015-2030)
Figure 33 APAC Ai in Retail Market Snapshot
Figure 34 APAC Ai in Retail Market, by Offering, $M (2015-2030)
Figure 35 APAC Ai in Retail Solution Market, by Type, $M (2015-2030)
Figure 36 APAC Ai in Retail Service Market, by Type, $M (2015-2030)
Figure 37 APAC Ai in Retail Market, by Technology, $M (2015-2030)
Figure 38 APAC Ai in Retail Market, by Country, $M (2015-2030)
Figure 39 LATAM Ai in Retail Market Snapshot
Figure 40 LATAM Ai in Retail Market, by Offering, $M (2015-2030)
Figure 41 LATAM Ai in Retail Solution Market, by Type, $M (2015-2030)
Figure 42 LATAM Ai in Retail Service Market, by Type, $M (2015-2030)
Figure 43 LATAM Ai in Retail Market, by Technology, $M (2015-2030)
Figure 44 LATAM Ai in Retail Market, by Country, $M (2015-2030)
Figure 45 MEA Ai in Retail Market Snapshot
Figure 46 MEA Ai in Retail Market, by Offering, $M (2015-2030)
Figure 47 MEA Ai in Retail Solution Market, by Type, $M (2015-2030)
Figure 48 MEA Ai in Retail Service Market, by Type, $M (2015-2030)
Figure 49 MEA Ai in Retail Market, by Technology, $M (2015-2030)
Figure 50 MEA Ai in Retail Market, by Country, $M (2015-2030)
Figure 51 Ranking of Major Players in Ai in Retail Market (2021)
Figure 52 International Business Machines Corporation - Revenue Split by Segment and Geography (2020)
Figure 53 Microsoft Corporation - Revenue Split by Segment and Geography (2020)
Figure 54 Salesforce.Com Inc. - Revenue Split by Segment and Geography (2020)
Figure 55 Oracle Corporation - Revenue Split by Segment and Geography (2020)
Figure 56 Sap Se - Revenue Split by Segment and Geography (2020)
Figure 57 Accenture plc - Revenue Split by Geography (2020)
Figure 58 Infosys Limited - Revenue Split by Segment and by Geography (2020)
Figure 59 Intel Corporation - Revenue Split by Segment and Geography (2020)
Figure 60 Amazon.Com Inc. - Revenue Split by Segment and Geography (2020)

Companies Mentioned

  • International Business Machines Corporation
  • Microsoft Corporation
  • Google LLC
  • Salesforce.Com Inc.
  • Oracle Corporation
  • Sap Se
  • Accenture plc
  • Infosys Limited
  • Intel Corporation
  • Amazon.Com Inc.
  • Visenze Pte. Ltd.
  • Evolv Technology Solutions Inc.

Methodology

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