Artificial Intelligence (AI) Market in Retail Sector Market – 40% of Growth to Originate from North America|Driven by the Rise in Investments & R and D in AI Startups| Technavio

NEW YORK , June 3, 2022 /PRNewswire/ — The “Artificial Intelligence (AI) Market in Retail Sector Market – Competitive Analysis, Drivers, Trends, Challenges &  Five Force Analysis” report has been added to Technavio’s offering. The artificial intelligence (AI) market in the retail sector market value is anticipated to grow by USD 29.57 billion, progressing at a CAGR of 35.69% from 2021 to 2026. 40% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for artificial intelligence (AI) in the retail sector in North America. Market growth in this region will be faster than the growth of the market in South America and MEAThe significant increase in the investments in the technology and the early adoption of AI will facilitate the artificial intelligence (AI) market growth in the retail sector in North America over the forecast period. 

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Market Dynamics

The key factor driving the global artificial intelligence (AI) market growth in the retail sector is the rise in investments and R&D in AI startups. Many governments have come up with formal AI frameworks and strategies, such as the US executive order on American leadership in AI, China’s Next Generation Artificial Intelligence Development Plan, and AI Made in Germany, all of which are aimed at driving economic and technological growth. In addition, some major vendors such as SoftBank made investments in many firms, including biotech firm Zymergen (USD 400 million) and Automation Anywhere (USD 300 million), a robotics process automation (RPA) company. Microsoft invested approximately USD 33 million to develop an AI & R and D hub in Taiwan. Many companies, such as Google, increased their RD workforce to expand their research in AI. Such factors will drive artificial intelligence (AI) in the retail market during the forecast period.

However, the key challenge to the global artificial intelligence market growth in the retail sector is the privacy issues associated with AI deployment. By using advanced data mining techniques, data is gathered on several parameters such as the customer’s buying habits, customers’ online behavior, and payment information. For instance, e-commerce giants like Amazon use ML in a combination of collaborative filtering and next-in-sequence models to make predictions on the customer buying behavior and recommend products to the individual based on their previous purchases. Amazon is privy to a huge database of consumer purchase behavior to optimize its predictions. The probable impact of AI on individual privacy is huge, which is why privacy issues are expected to challenge artificial intelligence in the retail market in the coming years.

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Company Profiles

The artificial intelligence (AI) market in the retail sector market is fragmented and the vendors are deploying growth strategies such as pricing and marketing strategies and product differentiation to compete in the market. Some of the companies covered in this report are Accenture Plc, Amazon.com Inc., BloomReach Inc., Capgemini SE, Daisy Intelligence Corp., Element AI Inc., Evolv Technology Solutions Inc., Inbenta Technologies Inc., Infosys Ltd., Intel Corp., International Business Machines Corp., Mad Street Den Inc., Microsoft Corp., NVIDIA Corp., Oracle Corp., Plexure Group Ltd., Salesforce.com Inc., SAP SE, Symphony Retail Solutions, and Trax Technology Solutions Pte. Ltd., etc.

 

  • Accenture Plc – The company offers retail Artificial Intelligence solutions for customer profit and revenue, dynamic merchandising and assortment, supply network, analytics, and profitability. 
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Competitive Analysis

The competitive scenario provided in the artificial intelligence (AI) market in retail sector market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don’t wait, Make a strategic approach & boost your business goals with our artificial intelligence (AI) market Market Forecast Report –  Buy Now!

Segmentation Analysis

  • By Application, the market is classified as sales and marketing, in-store, PPP, and logistics management.
  • By Geography, the market is classified as North America, APAC, Europe, the Middle East and Africa, and South America. 

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Artificial Intelligence (AI) Market In Retail Sector Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 35.69%

Market growth 2022-2026

USD 29.57 billion

Market structure

Fragmented

YoY growth (%)

31.45

Performing market contribution

North America at 40%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Accenture Plc, Amazon.com Inc., BloomReach Inc., Capgemini SE, Daisy Intelligence Corp., Element AI Inc., Evolv Technology Solutions Inc., Inbenta Technologies Inc., Infosys Ltd., Intel Corp., International Business Machines Corp., Mad Street Den Inc., Microsoft Corp., NVIDIA Corp., Oracle Corp., Plexure Group Ltd., Salesforce.com Inc., SAP SE, Symphony Retail Solutions, and Trax Technology Solutions Pte. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Content

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Application

  • 5.1 Market segments
    • Exhibit 24: Chart on Application – Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Application – Market share 2021-2026 (%)
  • 5.2 Comparison by Application
    • Exhibit 26: Chart on Comparison by Application
    • Exhibit 27: Data Table on Comparison by Application
  • 5.3 Sales and marketing – Market size and forecast 2021-2026
    • Exhibit 28: Chart on Sales and marketing – Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Sales and marketing – Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Sales and marketing – Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Sales and marketing – Year-over-year growth 2021-2026 (%)
  • 5.4 In-store – Market size and forecast 2021-2026
    • Exhibit 32: Chart on In-store – Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on In-store – Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on In-store – Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on In-store – Year-over-year growth 2021-2026 (%)
  • 5.5 PPP – Market size and forecast 2021-2026
    • Exhibit 36: Chart on PPP – Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on PPP – Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on PPP – Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on PPP – Year-over-year growth 2021-2026 (%)
  • 5.6 Logistics management – Market size and forecast 2021-2026
    • Exhibit 40: Chart on Logistics management – Market size and forecast 2021-2026 ($ million)
    • Exhibit 41: Data Table on Logistics management – Market size and forecast 2021-2026 ($ million)
    • Exhibit 42: Chart on Logistics management – Year-over-year growth 2021-2026 (%)
    • Exhibit 43: Data Table on Logistics management – Year-over-year growth 2021-2026 (%)
  • 5.7 Market opportunity by Application
    • Exhibit 44: Market opportunity by Application ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 46: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 48: Chart on Geographic comparison
    • Exhibit 49: Data Table on Geographic comparison
  • 7.3 North America – Market size and forecast 2021-2026
    • Exhibit 50: Chart on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on North America – Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on North America – Year-over-year growth 2021-2026 (%)
  • 7.4 APAC – Market size and forecast 2021-2026
    • Exhibit 54: Chart on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on APAC – Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on APAC – Year-over-year growth 2021-2026 (%)
  • 7.5 Europe – Market size and forecast 2021-2026
    • Exhibit 58: Chart on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on Europe – Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Europe – Year-over-year growth 2021-2026 (%)
  • 7.6 Middle East and Africa – Market size and forecast 2021-2026
    • Exhibit 62: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
  • 7.7 South America – Market size and forecast 2021-2026
    • Exhibit 66: Chart on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on South America – Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on South America – Year-over-year growth 2021-2026 (%)
  • 7.8 US – Market size and forecast 2021-2026
    • Exhibit 70: Chart on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on US – Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on US – Year-over-year growth 2021-2026 (%)
  • 7.9 China – Market size and forecast 2021-2026
    • Exhibit 74: Chart on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on China – Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on China – Year-over-year growth 2021-2026 (%)
  • 7.10 UK – Market size and forecast 2021-2026
    • Exhibit 78: Chart on UK – Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on UK – Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on UK – Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on UK – Year-over-year growth 2021-2026 (%)
  • 7.11 Canada – Market size and forecast 2021-2026
    • Exhibit 82: Chart on Canada – Market size and forecast 2021-2026 ($ million)
    • Exhibit 83: Data Table on Canada – Market size and forecast 2021-2026 ($ million)
    • Exhibit 84: Chart on Canada – Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on Canada – Year-over-year growth 2021-2026 (%)
  • 7.12 Japan – Market size and forecast 2021-2026
    • Exhibit 86: Chart on Japan – Market size and forecast 2021-2026 ($ million)
    • Exhibit 87: Data Table on Japan – Market size and forecast 2021-2026 ($ million)
    • Exhibit 88: Chart on Japan – Year-over-year growth 2021-2026 (%)
    • Exhibit 89: Data Table on Japan – Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 91: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 93: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 94: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 95: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 96: Matrix on vendor position and classification
  • 10.3 Accenture Plc
    • Exhibit 97: Accenture Plc – Overview
    • Exhibit 98: Accenture Plc – Business segments
    • Exhibit 99: Accenture Plc – Key news
    • Exhibit 100: Accenture Plc – Key offerings
    • Exhibit 101: Accenture Plc – Segment focus
  • 10.4 Amazon.com Inc.
    • Exhibit 102: Amazon.com Inc. – Overview
    • Exhibit 103: Amazon.com Inc. – Business segments
    • Exhibit 104: Amazon.com Inc. – Key news
    • Exhibit 105: Amazon.com Inc. – Key offerings
    • Exhibit 106: Amazon.com Inc. – Segment focus
  • 10.5 BloomReach Inc.
    • Exhibit 107: BloomReach Inc. – Overview
    • Exhibit 108: BloomReach Inc. – Product / Service
    • Exhibit 109: BloomReach Inc. – Key offerings
  • 10.6 Capgemini SE
    • Exhibit 110: Capgemini SE – Overview
    • Exhibit 111: Capgemini SE – Business segments
    • Exhibit 112: Capgemini SE – Key news
    • Exhibit 113: Capgemini SE – Key offerings
    • Exhibit 114: Capgemini SE – Segment focus
  • 10.7 Infosys Ltd.
    • Exhibit 115: Infosys Ltd. – Overview
    • Exhibit 116: Infosys Ltd. – Business segments
    • Exhibit 117: Infosys Ltd. – Key news
    • Exhibit 118: Infosys Ltd. – Key offerings
    • Exhibit 119: Infosys Ltd. – Segment focus
  • 10.8 Intel Corp.
    • Exhibit 120: Intel Corp. – Overview
    • Exhibit 121: Intel Corp. – Business segments
    • Exhibit 122: Intel Corp. – Key news
    • Exhibit 123: Intel Corp. – Key offerings
    • Exhibit 124: Intel Corp. – Segment focus
  • 10.9 International Business Machines Corp.
    • Exhibit 125: International Business Machines Corp. – Overview
    • Exhibit 126: International Business Machines Corp. – Business segments
    • Exhibit 127: International Business Machines Corp. – Key offerings
    • Exhibit 128: International Business Machines Corp. – Segment focus
  • 10.10 Microsoft Corp.
    • Exhibit 129: Microsoft Corp. – Overview
    • Exhibit 130: Microsoft Corp. – Business segments
    • Exhibit 131: Microsoft Corp. – Key news
    • Exhibit 132: Microsoft Corp. – Key offerings
    • Exhibit 133: Microsoft Corp. – Segment focus
  • 10.11 NVIDIA Corp.
    • Exhibit 134: NVIDIA Corp. – Overview
    • Exhibit 135: NVIDIA Corp. – Business segments
    • Exhibit 136: NVIDIA Corp. – Key news
    • Exhibit 137: NVIDIA Corp. – Key offerings
    • Exhibit 138: NVIDIA Corp. – Segment focus
  • 10.12 Oracle Corp.
    • Exhibit 139: Oracle Corp. – Overview
    • Exhibit 140: Oracle Corp. – Business segments
    • Exhibit 141: Oracle Corp. – Key news
    • Exhibit 142: Oracle Corp. – Key offerings
    • Exhibit 143: Oracle Corp. – Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 144: Inclusions checklist
    • Exhibit 145: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 146: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 147: Research methodology
    • Exhibit 148: Validation techniques employed for market sizing
    • Exhibit 149: Information sources
  • 11.5 List of abbreviations
    • Exhibit 150: List of abbreviations

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Artificial Intelligence (AI) Market in Retail Sector Market - 40% of Growth to Originate from North America|Driven by the Rise in Investments & R and D in AI Startups| Technavio WeeklyReviewer

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