Product Overview

Artificial Intelligence in Retail is used to preserve inventory accuracy, enhance customer service, and improve efficiency. It is primarily used by retailers to strengthen the decision-making process and automate business operations. AI in retail is widely applicable to facilitate trade decisions, predictive analysis, big data automation, and others. The simulation of human intelligence demonstrated by machines, particularly computers, is artificial intelligence (AI), often referred to as machine intelligence. Such procedures include learning, reasoning, and self-correction. In the retail sector, artificial intelligence is used to improve customer service also.

Market Highlights

Artificial Intelligence in Retail Market is expected to project a notable CAGR of 37.5% in 2030.

Artificial Intelligence in Retail Market to surpass USD 20.5 Billion by 2030 from USD 1.35 Billion in 2019 in terms of value growing at a CAGR of 37.5% throughout the forecast period, i.e., 2020-30. Rising demand for artificial intelligence in the retail industry is a major factor expected to drive the growth of global artificial intelligence in the retail sector in years to come, due to increased investment and increasing business sales opportunities. In addition, growing knowledge of AI as it allows speed, security, and ease of transaction is another factor anticipated to promote artificial intelligence revenue growth in the retail industry. In addition, the rising need to optimize supply chain transactions and preserve inventory accuracy is among some of the other factors that are expected to significantly fuel the growth of artificial intelligence in the retail industry.

Artificial Intelligence in Retail Market: Segments

Customer Relationship Management segment to grow with the highest CAGR of XX.X% during 2020-30

Artificial Intelligence in the Retail Market is segmented by solutions as Visual Search, Virtual Assistant, Product Recommendation and Planning, Price Optimization, Customer Relationship Management, and Others. The product recommendation and planning segment is estimated to lead the market with a share of over XX.X% in 2019 whereas the CRM segment has the highest CAGR. A very powerful part of the overall shopping cycle for any shopper is product recommendation. AI is used by retailers to give their customers a customized experience and provide suggestions on items they would like to buy by showing specific products. In addition, the most critical technology leading to the highest sales relative to other innovations would remain machine learning and deep learning technology. As one of the artificial solutions in retail that could reshape their companies, many retailers around the world have begun to implement customer behavior monitoring. It enables retailers to engage both online and in-store consumers and provides personalized recommendations.

Predictive merchandising Segment to grow with the highest CAGR during 2020-30

Artificial Intelligence in the Retail Market is segmented Application into In-Store Visual Monitoring and Surveillance, Market Forecasting, Predictive Merchandising, Programmatic Advertising, and Others. The predictive merchandising segment accounted for the largest revenue share of XX.X% in 2019 which is mainly attributed to the growing need of retailers for gaining valuable insights regarding customer’s motives behind the purchase and their buying pattern behaviors which is enforcing them to adopt predictive merchandising solutions. In addition, in order to retain a competitive advantage in a fast-growing marketplace, these technologies are becoming increasingly important for retail businesses to search for proactive methods of harnessing new and comprehensive data sources. In addition, during the forecast era, the predictive merchandising segment is also expected to see rapid growth, as the technologies enable planners to accurately recognize leftover stock ahead of time. This, in turn, will help boost inventory management, resulting in fewer instances of items that are not sold, contributing to cost savings.

Artificial Intelligence in Retail Market: Market Dynamics

Drivers

Growing Awareness Regarding AI and Big Data & Analytics

In the retail sector, artificial intelligence revolves around the way corporations have been run for the past few decades. The secret to digital business is artificial intelligence (AI) and big data & analytics, which have the ability to change anything from business processes to customer experience. The overall understanding and acceptance of AI and big data analytics in the retail industry have been growing due to the increasing penetration of smart devices and applications, the proliferation of IoT, the adoption of cloud services, and advances in technology. Various existing retailers around the world are struggling with rising costs, disgruntled customers, decreasing sales, and upstart competition. In order to increase operating performance and improve consumer interactions, this has led retailers to introduce technical instruments. Several areas in the retail industry, such as inventory management, supply chain management, marketing and branding, and management of customer relationships, provide considerable technological transformation opportunities and thus allow retailers to increase overall efficiency and profitability.

Restrain

Growing concerns regarding security and privacy

A dearth of technical expertise and regulatory standards to minimize counterfeits and breaching of data are factors that may impede the growth of the target market. Failure of technical infrastructure and data breaches along with misuse of personal information can, however, pose a challenge to the growth of Artificial Intelligence in the Retail industry in the forthcoming years.

Artificial Intelligence in Retail Market: Key Players

Amazon Web Services Inc.

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.

Style.ai

Google LLC

Daisy Intelligence

IBM Corporation

Microsoft Corporation

Plexure Ltd

Versium Analytics Inc.

Findmine Inc.

SAP SE

Salesforce.com Inc.

Conversica Inc.

BloomReach Inc.

Sentient Technologies Holdings Limited

Focal Systems Inc.

ViSenze Pte Ltd

Artificial Intelligence in Retail Market: Regions

Artificial Intelligence in the Retail Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.

Artificial Intelligence in Retail Market in North America led the market with a lion share of more than XX.X% in 2019 and is projected to maintain its lead over the forecast period in terms of revenue. North America is expected to dominate the market with the largest market share mainly because of the presence of several developed economies, such as the United States and Canada, focusing on enhancing the existing solutions in the retail space. North America is an early adopter of AI technology and hosts the major AI solution providers. The Asia Pacific region, however, is expected to develop rapidly during the forecast period, as the region is experiencing substantial growth on all fronts, including internet connectivity, economic growth, spending potential, and consumer product demand. The growth of e-commerce in countries like China and India and rising investments in AI technology for improved productivity and real-time inventory management are contributing to the growth of the AI market for the retail sector in this area as a result of government initiatives. In addition, the factors such as developing internet & connectivity infrastructure, growing adoption of AI-based solutions & services among retailers, and increasing digitalization are also helping the market growth in this region.

Competitive Landscape:

The Artificial Intelligence in Retail market, which is highly competitive, consists of several major players such as Amazon.com, Inc. (U.S.), Google LLC (U.S.), IBM Corporation (U.S.) hold a substantial market share in the Artificial Intelligence in Retail market. Other players analyzed in this report are Intel Corporation (U.S.), Microsoft Corporation (U.S.), Nvidia Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Salesforce.com, Inc. (U.S.), and Bloom Reach, Inc. (U.S.) among others.

Artificial Intelligence in Retail Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Artificial Intelligence in Retail Market report also contains analysis on:

Artificial Intelligence in Retail Market Segments:

By Technology:

Natural Language Processing

Machine Learning and Deep Learning

Others

By Deployment:

Cloud

On-Premise

By Solution:

Visual Search

Virtual Assistant

Product Recommendation and Planning

Price Optimization

Customer Relationship Management

Others

By Application:

In-Store Visual Monitoring and Surveillance

Market Forecasting

Predictive Merchandising

Programmatic Advertising

Artificial Intelligence in Retail Market Dynamics

Artificial Intelligence in Retail Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

FAQs on Artificial Intelligence in Retail Market

Which segment is anticipated to hold the largest market share

At what CAGR is the market anticipated to grow between 2020 and 2030

Who are the key players in Artificial Intelligence in the Retail Market

What could be the challenging factors in the growth of Artificial Intelligence in the Retail Market

What are the growth drivers for Artificial Intelligence in the Retail Market

Contents

1. Executive Summary

2. Artificial Intelligence in Retail Market

1. Product Overview

2. Market Definition

3. Segmentation

4. Assumptions and Acronyms

3. Research Methodology

1. Research Objectives

2. Primary Research

3. Secondary Research

4. Forecast Model

5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

1. Growth Drivers

2. Restraints

3. Opportunity

4. Trends

7. Correlation & Regression Analysis

1. Correlation Matrix

2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

1. Demand Risk Analysis

2. Supply Risk Analysis

10. Artificial Intelligence in Retail Market Analysis

1. Porters Five Forces

1. Threat of New Entrants

2. Bargaining Power of Suppliers

3. Threat of Substitutes

4. Rivalry

2. PEST Analysis

1. Political

2. Economic

3. Social

4. Technological

11. Artificial Intelligence in Retail Market

1. Market Size & forecast, 2019A-2030F

1. By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12. Artificial Intelligence in Retail: Market Segmentation

1. By Regions

1. North America:(U.S. and Canada), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

2. By Technology: Market Share (2019-2030F)

1. Natural Language Processing, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

2. Machine Learning and Deep Learning, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

3. Others, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

3. By Solution: Market Share (2019-2030F)

1. Visual Search, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

2. Virtual Assistant, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

3. Product Recommendation and Planning, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

4. Price Optimization, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

5. Customer Relationship Management, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

6. Others, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

4. By Deployment Model: Market Share (2019-2030F)

1. Cloud, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

2. On-Premise, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

3. By Application: Market Share (2019-2030F)

4. In-Store Visual Monitoring and Surveillance, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

5. Market Forecasting, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

6. Predictive Merchandising, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

7. Programmatic Advertising, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

8. Others, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

13. Company Profile

1. Amazon Web Services Inc.

1. Company Overview

2. Company Total Revenue (Financials)

3. Market Potential

4. Global Presence

5. Key Performance Indicators

6. SWOT Analysis

7. Product Launch

2. Style.ai

3. Google LLC

4. Daisy Intelligence

5. IBM Corporation

6. Microsoft Corporation

7. Plexure Ltd

8. Versium Analytics Inc.

9. Findmine Inc.

10. SAP SE

11. Salesforce.com Inc.

12. Conversica Inc.

13. BloomReach Inc.

14. Sentient Technologies Holdings Limited

15. Focal Systems Inc.

16. ViSenze Pte Ltd

Consultant Recommendation

**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

al deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)