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Global cognitive computing in retail market is expected to grow at a significant rate in the forecast period. Cognitive computing analyzes a massive amount of data with accuracy. It can understand the natural language, images, recognize patterns, amongst others to provide an enhanced shopping experience to consumers and help the organization to make smart decisions. Change in the consumer preference to buy through online channels has impacted the operation of the retail industry. Development of interactive platforms along with the lucrative discounts offered by the market players to attract customers is accelerating the online sales channel market growth. Ongoing research and development activities for technological advancements of cloud computing technology to increase the efficiency of the system are expected to fuel the market growth in the next five years. The rise in the expenditure capacity of the consumer is increasing the sales of smart devices. Organizations are actively utilizing cognitive computing solutions to reduce the other operational expenses is expected to pave the way for market growth. The growing adoption of internet of things technology for real-time monitoring to analyze consumer behavior and the roll-out of 5G technology is influencing the demand for cognitive computing in the retail market.
Global cognitive computing in retail market is segmented into component, technology, deployment, application, regional distribution, and company. Based on the regional analysis, North America is expected to dominate the market for the forecast period, 2022-2026. Supportive government policies and high adoption of advanced technologies by the organizations are driving the growth of the market in the region. The presence of major market players coupled with the start-ups adopting cognitive computing solutions is expected to influence the market growth.
The major players operating in the global cognitive computing in retail market are SparkCognition, Inc., Expert System USA, IBM Corporation, Microsoft Corporation, Google LLC, Teradata Corporation, Cisco Systems, Inc., Hewlett Packard Enterprises Co., CognitiveScale, Inc., Deepmind Technologies, Amazon Web Services, Inc., Enterra Solutions LLC, SAS Institute, Inc., Virtusa Corporation, Tata Consultancy Services Ltd., among others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
Objective of the Study:
- To analyze the historical growth of the market size of global cognitive computing in retail market from 2016 to 2019.
- To estimate and forecast the market size of global cognitive computing in retail market from 2020 to 2026 and growth rate until 2026.
- To classify and forecast global cognitive computing in retail market based on component, technology, deployment, application, regional distribution, and company.
- To identify dominant region or segment in the global cognitive computing in retail.
- To identify drivers and challenges for global cognitive computing in retail market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global cognitive computing in retail market.
- To identify and analyze the profile of leading players operating in global cognitive computing in retail market.
- To identify key sustainable strategies adopted by market players in global cognitive computing in retail market.
The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of service providers across the globe. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the service providers who could not be identified due to the limitations of secondary research. The publisher analyzed the service providers, distribution channels and presence of all major players across the globe.
The publisher calculated the market size of global cognitive computing in retail market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.
Key Target Audience:
- Cognitive Computing in Retail service provider companies
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to cognitive computing in retail market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global cognitive computing in retail market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Global Cognitive Computing in Retail Market, By Component:
- Platform
- Services
- Managed
- Professional
Global Cognitive Computing in Retail Market, By Technology:
- Machine Learning
- Natural Language Processing
- Deep Learning
- Robotics
- Computer / Machine Vision
Global Cognitive Computing in Retail Market, By Deployment:
- Cloud
- On-Premises
Global Cognitive Computing in Retail Market, By Application:
- Customer Experience
- Price Optimization
- Demand Forecasting
- Inventory Management
- Automation
- Others
Global Cognitive Computing in Retail Market, By Region:
- Asia-Pacific
- China
- India
- Australia
- Japan
- South Korea
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global cognitive computing in retail market.
Available Customizations:
With the given market data, the publisher offers customizations according to a company’s specific needs.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- SparkCognition, Inc.
- Expert System USA
- IBM Corporation
- Microsoft Corporation
- Google LLC
- Teradata Corporation
- Cisco Systems, Inc.
- Hewlett Packard Enterprises Co.
- CognitiveScale, Inc.
- Deepmind Technologies
- Amazon Web Services, Inc.
- Enterra Solutions LLC
- SAS Institute, Inc.
- Virtusa Corporation
- Tata Consultancy Services Ltd.
