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Artificial Intelligence in Retail Market - In-Depth Analysis with Booming Trends Supporting Growth, Forecast to 2027
, April 21, 2019 ) Inception of exponential technologies such as sensors, robotics, virtual reality, and artificial intelligence in the retail industry has enabled the retailers to enhance their interactions with consumers and transformed the way retail operations were performed. This change in the industry is prominently driven by the seismic shift in the shopping pattern of the consumers, and their preferences backed by demographic dividend across regions.
New research report takes a close and analytical look at the various companies that strive for a higher share of the global
artificial intelligence in retail market
. Data on the leading and fastest-growing segments along with what drives them has been given. This report implements a balanced mix of primary and secondary research methodologies for its analysis. The market is segmented on the basis of key criteria. For this purpose, a section dedicated to company profiles has been included in the report.
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Top Companies profiled in this report includes, Sentient Technologies Holdings Limited, Manthan Software Services Pvt. Ltd, Focal Systems Inc, Microsoft Corporation, ViSenze, Tata Consultancy Services Limited, Salesforce.com, Inc., Plexure Ltd., Google,Inc., and IBM Watson Group, among others.
The report focuses on an in-depth segmentation of this market based by retail format, technology, and application. The geographic segmentation of the report covers five major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA). The regional market has been further bifurcated by respective countries. By application segment customer experience and management accounted for the largest share of the artificial intelligence in retail market in 2016; whereas, APAC region is expected to grow at the highest CAGR during the forecast period.
Various factors are responsible behind the marketís growth trail, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global artificial intelligence in retail market. It also gauges the bargaining power of suppliers and buyers, threat to the new entrants and product substitute, and the degree of competition prevailing in the market. The influence of the latest government guidelines is also analyzed in detail in the report. It studies the marketís trajectory between forecast periods.
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As the global artificial intelligence in retail market is segmented based on various parameters, an in-depth classification of the market is also mentioned; elements impacting the marketís growth are studied in detail to understand the report precisely. Moreover this, profiles of some of the leading players operating in the global market are included in the report. Using SWOT analysis, their weaknesses and strengths are analyzed. It helps the study deliver visions into the opportunities and threats that companies may face during the forecast period.
North America is one of the prominent regions in artificial intelligence in retail market which will contribute highest revenue globally owing to the massive transformation of region under the influence of internet and accessibility to various devices such as tablets, laptops and smart phones. Rapidly growing economies in Asia-Pacific (APAC) with significant growth in IT infrastructure and will pave the path for increasing adoption and propel the market for artificial intelligence in retail market. The APAC region is expected to lead the market with highest CAGR during the forecast period.
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