Artificial Intelligence (AI) in Retail Market to Reach USD 23,426.3 Million by 2026; Rising Awareness About the Advantages of AI in Retail Operations to Propel Growth, says Fortune Business Insights

Key Companies Profiled are Amazon Web Services, Inc., Baidu, Inc., CognitiveScale, Inc., Google LLC, IBM Corporation, Microsoft Corporation, Next IT Corporation, Nvidia Corporation, Oracle Corporation, RetailNext, Inc., SAP SE, Style.ai, Salesforce.com, Inc.

PUNE, India, Jan. 23, 2020 /PRNewswire/ -- The global artificial intelligent (AI) in retail market size is estimated to reach USD 23,426.3 million by 2026, exhibiting a CAGR of 33.7% during the forecast period. The ongoing shift by retailers from traditional retail experience to AI-driven business solutions is one of the crucial factors enabling the growth of the AI in retail market. According to an article published by Forbes, 83% believe AI is a strategic priority for their businesses today and 84% of respondents say AI will enable them to obtain or sustain a competitive advantage. The growing awareness about the advantages of AI in retail operations such as quality improvement, paced up decision making, strong operational agility and enhanced customer experience will boost the AI in retail market growth in the forthcoming years. In addition, exceptional benefits of AI-powered data analytics will further spur demand for AI in retail market in the foreseeable future.

According to the report, published by Fortune Business Insights in a report, titled "Artificial Intelligence (AI) in Retail Market Size, Share & Industry Analysis, By Offering (Solutions, Services), By Function (Operations-Focused, Customer-Facing), By Technology (Computer Vision, Machine Learning, Natural Language Processing, and Others), and Regional Forecast, 2019-2026" the AI in retail market size was valued at USD 2,306.8 million in 2018. The report is aimed at delivering a comprehensive view of the AI in retail market dynamics, structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers porter's analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases different procedures and strategies of companies currently operating in the market. It further examines the components convincing market expansion, growth patterns, restricting factors and market strategies.