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

NEW YORKJune 29, 2022 /PRNewswire/ — The “Artificial Intelligence (AI) Market in Retail Market – Competitive Analysis, Drivers, Trends, Challenges and Five Forces Analysisreport has been added to Technavio’s offering. The market value for artificial intelligence (AI) in the retail sector is expected to grow by USD 29.57 billionat a CAGR of 35.69% from 2021 to 2026.

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

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

40% of the market’s growth will come from North America during the forecast period† The US and Canada are the top markets for artificial intelligence (AI) in the retail sector in North America† The market growth in this region will be faster than the market growth in South America and MEASignificant increase in technology investment and early adoption of AI will drive artificial intelligence (AI) retail market growth in North America during the forecast period.

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Market dynamics

The key factor driving the global artificial intelligence (AI) market growth is the retail sector is the increase in investment and R&D in AI startups† Many governments have devised formal AI frameworks and strategies, such as the US Executive Order on US Leadership in AI, China’s Next Generation Artificial Intelligence Development Plan, and AI Made in Germanyall of which are aimed at stimulating economic and technological growth.

However, the key challenge for the global retail artificial intelligence market growth is: privacy issues related to AI deployment† Using advanced data mining techniques, data is collected on various parameters, such as customer purchasing behaviour, customer online behavior and payment information.

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Company Profiles

The Artificial Intelligence (AI) market in the retail market is: fragmented and the suppliers deploy 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 presented in the Artificial Intelligence (AI) market in the retail market report analyzes, evaluates and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies in recent years, growth strategies, product innovations, new product launches, investments, market share growth, etc.

Segmentation Analysis

  • Through Application, the market is classified as sales and marketing, in-store, PPP and logistics management.

  • Through Geography, the market is classified as: North AmericaAPAC, Europethe Middle East and Africaand South America.

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Market Size of Artificial Intelligence (AI) in Retail

Reporting coverage

Details

page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 35.69%

Market growth 2022-2026

$29.57 billion

Market structure

fragmented

YoY Growth (%)

31.45

Regional analysis

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

Performing Market Contribution

North America at 40%

Main consumer countries

US, Canada, China, Japan and UK

Competitive landscape

Leading Companies, Competitive Strategies, Consumer Engagement Range

Key companies profiled

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, Inductors and obstacles to market growth, Analysis of high-growth and slow-growing segments, Analysis of impact and recovery of COVID 19 and future consumer dynamics, Analysis of market conditions for the forecast period

Adjustment Range

If our report doesn’t provide the data you’re looking for, contact our analysts and have segments tailored.

Index

1. Summary

2 Market landscape

3 Market size

4 Five Forces Analysis

5 Market Segmentation by Application

6 Customer landscape

7 Geographical landscape

8 drivers, challenges and trends

9 supplier landscape

10 Supplier Analysis

11 Appendix

About us

Technavio is a leading global technology research and consultancy company. 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 more than 500 specialist analysts, Technavio’s report library consists of more than 17,000 reports and 800 technologies across 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s extensive coverage, extensive research and actionable market insights to identify opportunities in existing and potential markets and assess their competitive position within changing market scenarios.

Contact

Technological research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
E-mail: [email protected]
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

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SOURCE Technavio

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