A recent report published by
Infinium Global Research on artificial intelligence (AI) in retail and e-commerce market provides an in-depth analysis of segments and sub-segments in the global as well as
regional artificial intelligence in retail and e-commerce market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional artificial intelligence in retail and e-commerce market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecasts, and dollar values of
global artificial intelligence in retail and e-commerce market. According to the report, the global Artificial Intelligence in retail and e-commerce market is projected to grow at a CAGR of 42.85% over
the forecast period of 2020-2026.
Market Insight
Artificial Intelligence has found
its applications in several industry verticals with the potential to transform
businesses through higher speed, low operational costs, and access to a depth
of consumer and market data that promise a strong competitive edge. Artificial
Intelligence in retail and e-commerce is enabling retail systems to work
together to optimize customer experiences, forecasting, inventory management,
and more. Artificial Intelligence technologies such as computer vision offer
near-real-time intelligence to brick-and-mortar stores. That same data, when
analyzed in the cloud, can provide additional business insights. Artificial
Intelligence coupled with CRM software help to automate marketing activities,
and predictive analytics to identify which customers are likely to buy cert
Artificial Intelligence n products. It can also find when the customer had last
visited the store and track the multiple visits and the products bought in the
past. Artificial Intelligence can use this information to suggest good
recommendations and offer personalized rewards like discounts, loyalty points,
etc., for the current shopping needs. The cloud enables Artificial Intelligence
workloads that require volumes of data from many different sources to be stored
and processed. Moreover, with the help of IoT and Artificial Intelligence, retailers
gain a comprehensive view of stores, shoppers, and products to help with
inventory management. This, in turn, augments the application of Artificial
Intelligence in retail stores.
The growing e-commerce industry is
majorly augmenting the use of Artificial Intelligence in retail and e-commerce. Rapid globalization
and urbanization are driving the e-commerce sector around the world. It is
expected that large global companies are likely to use e-commerce more
intensively than less global firms. Moreover, the increasing penetration of the
internet and smartphones is further propelling market growth. Growing
telecommunication infrastructure coupled with cheaper prices of technology is
augmenting the growth of the internet across the developing regions. However,
the problems in integrating older technologies with Artificial Intelligence pose a major challenge
for market growth. The older technologies are usually incompatible with new
systems such as ERP software and cloud-based systems. On the other hand, the
adoption of innovative technologies such as IoT, VR, and automation is
anticipated to augment market growth in the future. The recent advancements in
the retail sector have gone as far as changing the way the industry does
business by helping to create efficiencies, save money, and provide better
products and services.
In terms of region, North America
is anticipated to dominate Artificial Intelligence in the retail and e-commerce market over the
forecast period. The growing adoption of advanced technologies such as advanced
analytics, virtual and augmented reality, advanced robotics, and artificial
intelligence by the retail chains is majorly driving the growth of North
America Artificial Intelligence in the retail and e-commerce market. Moreover, the government and
private organizations are investing heavily in R&D for developing advanced
Artificial Intelligence systems. On the other hand, the Asia Pacific Artificial Intelligence in the retail and e-commerce
market is anticipated to grow with the fastest CAGR over the forecast period.
The market growth in the Asia Pacific is attributed to rapid globalization,
urbanization, and improving economic conditions. Furthermore, governments
in countries including China and India are promoting the development in the
field of Artificial Intelligence and Machine Learning, which in turn, augments the growth of the market in the Asia Pacific.

Segment Covered
The report on global artificial intelligence in retail
and e-commerce market covers segments such as solution, application, and
end-user. On the basis of solution, the sub-markets include customer insights
and relationship management, personalized product recommendation, price
optimization, supply chain management and demand planning, intelligent virtual
assistant, visual search, payments, and others. On the basis of application,
the sub-markets include sales and merchandise planning, reduced fraud and shrinkage,
logistics and delivery, trade promotions management, and others. On the basis
of end-user, the sub-markets include brick & mortar stores, and e-commerce
stores.
Companies Profiled:
The report provides profiles of
the companies in the market such as IBM Corporation, SAP SE, Microsoft
Corporation, Amazon.com, Inc., SAS Institute Inc., Alphabet Inc., Versium
Analytics Inc., ViSenze Pte Ltd, Sentient Technologies Holdings Limited, and Conversica
Inc..
Report Highlights:
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of artificial intelligence in retail and e-commerce market. Moreover, the study highlights
current market trends and provides forecasts from 2020-2026. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.