Dublin, May 01, 2018 (GLOBE NEWSWIRE) -- The "Artificial Intelligence in Retail Market 2025 - Global Analysis and Forecasts by Deployment Type, Retail Type, Technology and Application" report has been added to ResearchAndMarkets.com's offering.
Artificial intelligence in retail market is estimated to be US$ 27,238.6 million by 2025 from US$ 712.6 million in 2016
The growth in market revenue is attributed to proliferating adoption of game changing technologies, growth in mobile market and emergence of various AI based start-ups catering to retail industry. Proliferation of enhanced technological awareness and varied product choices among the consumers have resulted into a noteworthy shift in global retail industry landscape.
This has further foisted pressure on the traditional retailers to reimagine the strategies for creating and capturing value in order to explore the optimal usage of their assets. Public policy liberalization is also one of the key factors supporting the flow of knowledge, information and resources, further generating pressure on the brick n' mortar retailers to tackle with the lowered entry barriers to the online retailers in the market.
Key trend which will predominantly effect the market in coming year is rising adoption of multi-channel or omni channel retailing. In forthcoming years, the retail industry is anticipated to witness higher growth in the trend of Omni channel retailing. Artificial intelligence will be having a key role as this technology would be bridging the gap between online and offline retailing in coming future. Companies like Amazon have already enrooted its focus towards development of an AI enabled offline retail store that would enable the shoppers to move out of the store without waiting in the long queues of billing.
Artificial intelligence in retail market by application is segmented into Sales & Marketing, Supply-chain & Logistics, Shelf Analytics, Pricing, In-Store Navigation, Auto-checkout and others (staffing and product mix optimization). Customer experience and management is projected to acquire majority share in the market. Digital convergence in retail is considered to bring glowing opportunity for retailers to retail the customer and set themselves apart. In the coming few years, interaction with a variety of technologies such as bots is expected to reinvent the customer experience.
Key Topics Covered:
1 Table of Contents
1.1 List of Tables
1.2 List of Figures
2 Introduction
2.1 Scope of the Study
3 Key Takeaways
4 Artificial Intelligence in Retail Market Landscape
4.1 Market Overview
4.2 Market Segmentation
4.2.1 Global Artificial Intelligence in Retail Market - By Retail Format
4.2.2 Global Artificial Intelligence in Retail Market - By Technology
4.2.3 Global Artificial Intelligence in Retail Market - By Application
4.2.4 Global Artificial Intelligence in Retail Market - By Geography
4.3 PEST Analysis
5 Global Artificial Intelligence in Retail Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Startups are at the forefront, driving the adoption of AI in retail industry
5.1.2 Rapid adoption of game-changing technologies across the retail - value chain
5.1.3 Tremendous growth in mobile market is expected to encourage the widespread adoption of AI in retail
5.2 Key Market Restraints
5.2.1 Lack of in-house knowledge and cultural readiness hold back AI adoption
5.2.2 High cost and difficulty of implementing new technologies
5.3 Key Market Opportunities
5.3.1 Rising investments in speech analytics technology
5.4 Future Trends
5.4.1 Artificial intelligence to bridge the gap between online and offline retailing
5.4.2 Artificial intelligence enabled virtual mirrors to be major traction in fashion retail industry
5.5 Impact Analysis of Drivers and Restraints
6 Artificial Intelligence in Retail Market - Global
6.1 Global Artificial Intelligence Market Overview
6.2 Global Artificial Intelligence in Retail Market Forecast and Analysis
7 Global Artificial Intelligence in Retail Market Analysis - By Retail Format
7.1 Overview
7.2 E-commerce
7.3 Brick n' Mortar
8 Global Artificial Intelligence in Retail Market Analysis - By Technology
8.1 Overview
8.2 Chatbots
8.3 Recommendation Engines
8.4 Audio Visual Analytics
8.5 Others
9 Global Artificial Intelligence in Retail Market Analysis - By Application
9.1 Overview
9.2 Sales & Marketing
9.3 Supply Chain & logistics
9.4 Customer Experience & Management
9.5 Shelf Analytics
9.6 Pricing
9.7 In-Store Navigation
9.8 Auto-checkouts
9.9 Others
10 Global Artificial Intelligence in Retail Market - Geographical Analysis
11 Industry Landscape
11.1 Market Initative
11.2 Merger and Acquisition
12 Competitive Landscape
12.1 Competitive Product Mapping
12.2 Market Positioning - Global Top 5 Players Ranking
13 Global Artificial Intelligence in Retail Market - Key Company Profiles
- Sentient Technologies Holdings Limited
- Manthan Software Services Pvt. Ltd
- Focal Systems Inc
- Microsoft Corporation
- ViSenze
- Tata Consultancy Services Limited
- Salesforce.com, Inc
- Plexure Ltd.
- Google,Inc
- IBM Watson Group
For more information about this report visit https://www.researchandmarkets.com/research/2qwjtz/27_2_billion?w=12