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Artificial Intelligence (AI) in Retail Market is projected to witness a rapid boost by 2027

Artificial Intelligence (AI) in Retail Market is projected to witness a rapid boost by 2027

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Artificial Intelligence (AI) in Retail Market is projected to witness a rapid boost by 2027

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  1. Artificial Intelligence (AI) in Retail Market – Growth Potential and Regional Outlook to 2027 • Artificial intelligence (AI) in retail market will be significantly bolstered with the surging need for digitization and the consistent development of new business models across the retail sector. There are large investments made by public and private enterprises in AI technology. The incorporation of AI together with advanced analytics and machine learning is believed to yield multiple functional benefits. This has led to the increasing requirement of these techniques from retailers in order to offer a personalized store experience. As per estimates, the artificial intelligence (AI) in retail market size will globally cross an annual value of more than USD 20 billion by 2027. • The influx of various technological investments to render workflow optimization in the retail sector has added positive impetus to the use of AI. This is because numerous retailers operating across the globe are widely adopting advanced technologies to differentiate their service offerings in the industrial landscape. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  2. Demand for managed services in the AI for retail industry is pegged to rise at a growth rate of over 30% over the next few years. This is owing to the extensive utilization of intelligent algorithms and AI technology by most managed service providers. The cost-effectiveness of AI solutions has increased their preference. This is because the systems offer effective management in diverse applications, that range from controlling the network traffic to working on the machine issues without the need of human assistance. • Value of computer vision technology in artificial intelligence in retail market is estimated to hold a significant revenue share through 2027. This can be attributed to the higher adoption of computer vision-based cameras and robots in order to track and manage the store inventory. Various retailers are also making use of in-store applications to gain a competitive edge over their counterparts by leveraging computer vision solutions. Furthermore, the technology is increasingly deployed by enterprises across applications like facial recognition, interaction analysis, footfall traffic, and shelf scanning. • On the other hand, artificial intelligence in retail market across North America will gain considerable traction through 2027. This is due to the prominent number of enterprises that are consistently focused on AI technology development and investments across the region. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  3. Request for a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2568 © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  4. Regional Analysis • Europe is a promising market for artificial intelligence (AI) and retail. The region is poised to grow at a 35% CAGR over the coming years with the significant expansion in the retail sector and the surge in the number of government investments in AI technology. For instance, the French government introduced the AI Strategy in March 2018 and is in plans to invest more than USD 1.76 billion in AI technology by the end of 2022. • Competitive Analysis • Amazon Web Services, Inc., Oracle Corporation, Baidu, Inc., Microsoft Corporation, and IBM Corporation are few other prominent industry players. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  5. Latest Research Report On Artificial Intelligence (AI) in Retail Market @ https://www.gminsights.com/industry-analysis/artificial-intelligence-ai-retail-market Request for sample of this research report@ https://www.gminsights.com/request-sample/detail/2568 Request for customization: https://www.gminsights.com/roc/2568 © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  6. Stay In Touch You can visit us at: www.gminsights.com Thank You…! © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com www.gminsights.com

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