The utilization of artificial intelligence (AI) in the retail sector has experienced significant growth over the past few years and is projected to continue on an upward trajectory. According to a new research report, the global Artificial Intelligence in Retail Market is expected to reach USD million by 2029, with a compound annual growth rate (CAGR) of X.X% from 2017 to 2022.
This comprehensive report provides insights into the market size, segmentation, competitor landscape, and recent trends related to AI in retail. It also addresses the strategies that companies can employ to navigate the challenges brought about by the COVID-19 pandemic.
One of the key drivers for the increasing adoption of AI in retail is technological innovation and advancement. These advancements enable AI-powered solutions to be applied across a wide range of applications in the retail industry.
The report delves into customer preference analysis, market dynamics, new product releases, and the impact of COVID-19 to provide a detailed understanding of the AI in retail market. Moreover, it offers valuable insights and analysis that can help businesses formulate effective strategies and make informed decisions to drive growth in this competitive landscape.
Frequently Asked Questions (FAQ)
1. What is the projected market size for AI in retail?
The global Artificial Intelligence in Retail Market is expected to reach USD million by 2029.
2. What is the growth rate of the AI in retail market?
The market is projected to grow at a compound annual growth rate (CAGR) of X.X% from 2017 to 2022.
3. What are the key applications of AI in retail?
AI technology is being used in various applications in the retail sector, including in-store visual monitoring and surveillance, market forecasting, predictive merchandising, programmatic advertising, and others.
4. How is the COVID-19 pandemic impacting the AI in retail market?
The report addresses the challenges posed by the COVID-19 pandemic and provides strategies for companies to overcome them.
5. What are the major players in the AI in retail market?
The major players in the market include Sentient Technologies Holdings Limited, Plexure Ltd, ViSenze Pte Ltd, IBM Corporation, Style.ai, Conversica Inc., SAP SE, Findmine Inc., BloomReach Inc., Versium Analytics Inc., Microsoft Corporation, Daisy Intelligence, Amazon Web Services Inc., Salesforce.com Inc., Focal Systems Inc., and Google LLC.