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Artificial Intelligence in Retail Market Size to Boost $10,164.7 Million By 2026 | CAGR 40.10% – IndustryARC


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Artificial Intelligence in Retail Market Drivers Increasing Deployment in Growing E-Commerce Sector

HYDERABAD, TELANGANA, INDIA, November 29, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Artificial Intelligence in Retail Market generated a value of $1,524.3 million in 2020 and is estimated to reach $10,164.7 million by 2026, growing at a CAGR of 40.10% during the forecast period of 2021-2026. Artificial Intelligence in retail enables faster business decisions based on outputs from cognitive technologies and saves time and money by automating and optimizing routine processes and tasks. Business leaders are looking for ways to sharpen their competitive edge, and are implementing AI to improve the standards, customer experience, and revenues and fast processing. Retail Artificial Intelligence (AI) is set to pave the way for the smart commercialism in industries like food & beverages, electronics, fashion and all other sectors, where processes can be optimized by machine learning and predicting the human behavior. Ai in Retail Market is majorly driven by increased usage of artificial intelligence in customer relationship management, warehouse automation and in online stores, especially in clothing. The expanding investments in AI-based solutions along with the rising machine ability for verdict creation from trillion bytes of online data is estimated to drive the market growth during the forecast period 2021-2026. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Artificial-Intelligence-In-Retail-Market-Research-500716

Key takeaways:

1. By Implementation, Cloud hosting segment is the major segment generating revenue of $916.26m in 2020 and is forecast to generate $6,993m by 2026. This is mainly owing to its agility which helps in upscale and downscale depending upon

2. By Technology, Machine Learning segment held the major share by generating a revenue of 698.83m in 2020 and is estimated to grow at a CAGR of 40.90% during the forecast period 2021-2026.

3. Natural Language Processing (NLP) segment is estimated to grow at a fastest CAGR of 42.75% during the forecast period 2021-2026. NLP is gaining popularity owing to its ability of helping machines read, understand and derive meaning from human language.

Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=500716

Segmental Analysis:

1. In Store segment held the major share in 2020 with a revenue of 943.78m and is estimated to reach 5,407.55m by 2026 growing at a CAGR of 36.60% during the forecast period 2021-2026. However, E-Commerce segment is estimated to grow at a fastest rate CAGR of 44.84% during the forecast period 2021-2026.

2. North America is the major region dominating the Retail Artificial Intelligence Market with revenue of $561.27m in 2020 and is also estimated to grow at a fastest CAGR of 39.55% during the forecast period of 2021-2026 to generate a revenue of $3,656.34m in 2026.

3. In North America region, U.S. is dominating the Retail Artificial Intelligence Market generating a revenue of $397.74m in 2020 and is also estimated to grow at a CAGR of 40.03% during the forecast period of 2021-2026 to generate a revenue of $2,644.99m in 2026.

4. Mexico is likely to surpass U.S in terms of CAGR with 42.56% for the forecast period 2021-2026. Europe is the second major region dominating the Retail Artificial Intelligence Market with revenue of $420.79m in 2020 and is also estimated to grow at a CAGR of 41.53% during the forecast period of 2021-2026 to generate a revenue of $2,984.57m in 2026. The market is fragmented with key players accounting for about 44.54% of the market revenue in 2020.

5. Warehouse segment is the major revenue generating segment with $403.53m in 2020 and is forecast to generate $2,969.39m by 2026. This is mainly owing to the use of robots to automate and speed up work.

Competitive Landscape:

The top 5 players in the Artificial Intelligence in Retail industry are –

1. Amazon Web Service

2. Microsoft Corporation

3. Google Inc. (Alphabet Inc.)

4. IBM Corporation

5. SAP

Click on the following link to buy the Artificial Intelligence in Retail Market Report:
https://www.industryarc.com/reports/request-quote?id=500716

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Artificial Intelligence In Small & Medium Business Market
https://www.industryarc.com/Report/17911/artificial-intelligence-market-in-small-medium-business.html

B. Artificial Intelligence Market In Fintech
https://www.industryarc.com/Report/17915/artificial-intelligence-market-in-fintech.html

Contact Us:
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IndustryARC
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Venkat Reddy
IndustryARC
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