Artificial Intelligence (AI) Market in Retail Sector Market – 40% of Growth to Originate from North America| Driven by the Rise in Investments and R&D in AI Startups

NEW YORK, June 29, 2022 /PRNewswire/ — The “Artificial Intelligence (AI) Market in Retail Sector Market – Competitive Analysis, Drivers, Trends, Challenges & Five Force Analysis” report has been added to Technavio’s offering. The artificial intelligence (AI) market in the retail sector market value is anticipated to grow by USD 29.57 billionat a CAGR of 35.69% from 2021 to 2026.

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

40% of the market’s growth will originate from NorthAmerica during the forecast period. US and Canada are the key markets for artificial intelligence (AI) in the retail sector in NorthAmerica. Market growth in this region will be faster than the growth of the market in South America and MEA. The significant increase in the investments in the technology and the early adoption of AI will facilitate the artificial intelligence (AI) market growth in the retail sector in NorthAmerica over the forecast period.

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Market Dynamics

The key factor driving the global artificial intelligence (AI) market growth in the retail sector is the rise in investments and R&D in AI startups. Many governments have come up with formal AI frameworks and strategies, such as the US executive order on American leadership in AI, China’s Next Generation Artificial Intelligence Development Plan, and AI Made in Germanyall of which are aimed at driving economic and technological growth.

However, the key challenge to the global artificial intelligence market growth in the retail sector is the privacy issues associated with AI deployment. By using advanced data mining techniques, data is gathered on several parameters such as the customer’s buying habits, customers’ online behavior, and payment information.

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Company Profiles

The artificial intelligence (AI) market in the retail sector market is fragmented and the vendors are deploying 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 provided in the artificial intelligence (AI) market in retail sector 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 over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.

Segmentation Analysis

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

  • by geography the market is classified as NorthAmericaAPAC, Europethe Middle East other Africaand SouthAmerica.

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Artificial Intelligence (AI) Market Scope in Retail Sector

report 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%

Key consumer countries

US, Canada, China, Japan, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

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, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get customized segments.

Table of Content

1 executive summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market segmentation by application

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

Technavio (PRNews photo/Technavio)

Technavio (PRNews photo/Technavio)

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