DUBLIN, October 30, 2017 /PRNewswire/ —

The “Artificial Intelligence in Retail Market by Type (Online, Offline), Technology (Machine Learning and Deep Learning, NLP), Solution, Service (Professional, Managed), Deployment Mode (Cloud, On-Premises), Application, Region – Global Forecast to 2022” report has been added to Research and Markets’ offering.

The Artificial Intelligence (AI) in retail market is expected to grow from USD 993.6 Million in 2017 to USD 5,034.0 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 38.3%.

Factors such as increasing necessity for surveillance and monitoring at a physical store, growing awareness, and application of AI, enhanced user-experience, improved productivity, Return on Investment (RoI), maintaining inventory accuracy, and supply chain optimization are driving the global AI in retail market.

The report provides detailed insights into the global AI in retail market, which is segmented by type, technology, solution, service, deployment mode, application, and region. In the types, the online (eCommerce) retail market will have the largest market share during the forecast period. The online retailing includes buying and selling of FMCG, CPG, apparels, electronics goods, and other forms of life essentials. It excludes entertainment and travel services offered online. Contrary to the brick-and-mortar stores, customers no longer have to stand in long queues to buy their preferred goods. They can purchase them easily through mobile applications and websites, sitting comfortably in their homes or offices. The AI-based solution are majorly adopted by the online retailers to target the customer, who want to shop from the comfort of their homes.

The AI in retail ecosystem comprises vendors such as IBM (US), Microsoft (US), Amazon Web Services (US), Oracle (US), SAP (Germany), Intel (US), NVIDIA (US), Google (US), Sentient Technologies (US), Salesforce (US), and ViSenze (Singapore).

Market Dynamics

Drivers

• Increasing Necessity for Superior Surveillance and Monitoring at Physically Present Retail Stores
• Growing Awareness and Application of AI in the Retail Industry
• Enhance End-User Experience, Improve Productivity, and Generate More Revenue
• Maintain Inventory Accuracy and Supply Chain Optimization

Restraints

• Incompatibility Concerns

Opportunities

• Increase in AI-Based Data Analysis Application
• Growing Number of Smartphones
• Increase in Adoption of Cloud-Based Technology Solutions

Challenges

• Issues With Diverse Development Framework, Models, and Mechanism in AI
• Concerns Over Privacy and Identity of Individuals
• Lack of Skilled Staff

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends

6 AI in Retail Market Analysis, By Type

7 Artificial Intelligence in Retail Market Analysis, By Technology

8 AI in Retail Market Analysis, By Solution

9 Artificial Intelligence in Retail Market Analysis, By Service

10 AI in Retail Market Analysis, By Deployment Mode

11 Artificial Intelligence in Retail Market Analysis, By Application

12 Geographic Analysis

13 Company Profiles

• Amazon Web Services
• Google
• IBM
• Intel
• Microsoft
• Nvidia
• Oracle
• SAP
• Salesforce
• Sentient Technologies
• Visenze

For more information about this report visit https://www.researchandmarkets.com/research/8tq7xd/artificial

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SOURCE Research and Markets