[12-09-2023] – The Artificial Intelligence in Retail Market is poised for impressive growth, with a projected Compound Annual Growth Rate (CAGR) of 34.4% from 2020, catapulting it to reach a substantial $19.9 billion by 2027, according to the latest report by Meticulous Research. The integration of artificial intelligence (AI) technology in the retail sector promises a plethora of benefits, including predictive merchandising, programmatic advertising, market forecasting, in-store visual monitoring & surveillance, and location-based marketing.
Key Catalysts for the Adoption of AI in Retail:
- Next-Level Personalization: AI solutions enable retailers to provide personalized experiences and relevant product recommendations to customers, enhancing their shopping journeys.
- Improved Retargeting Strategies: AI aids in optimizing retargeting efforts, ensuring that marketing resources are effectively utilized to reconnect with potential customers.
- Predictive Consumer Behavior: AI’s predictive capabilities empower retailers to anticipate consumer behavior, allowing them to make informed decisions and stay ahead in the market.
Top 10 Pioneers in the Artificial Intelligence in Retail Market: https://meticulousblog.org/top-10-companies-in-artificial-intelligence-in-retail-market/
Amazon:
A technology juggernaut with a global presence, Amazon leads the retail evolution through advanced technologies, including AI and e-commerce.
Google LLC:
A global pioneer in internet-based products and services, Google offers solutions like Shopping ads and Shopping Actions to enhance the retail industry.
IBM:
A technology powerhouse, IBM leverages AI and cloud computing to revolutionize retail operations and customer experiences.
Intel Corporation:
Renowned for its innovative products, Intel provides platforms and solutions for real-time inventory management, customer engagement, and personalized marketing.
Microsoft Corporation:
A technology leader, Microsoft delivers integrated technology solutions that unite retailers, shoppers, and manufacturers in a common platform.
Nvidia Corporation:
Nvidia offers AI-powered solutions for smart retail, including intelligent video analytics, inventory management, and customer analytics.
Oracle Corporation:
A leader in database management and software, Oracle provides AI-driven retail solutions, simplifying inventory management and enhancing business operations.
SAP SE:
SAP SE offers a suite of applications and intelligent technologies to help retailers innovate and deliver personalized customer experiences.
BloomReach, Inc.:
BloomReach provides AI-driven search and merchandising tools, content management systems, and digital experience platforms for seamless customer experiences.
Salesforce.com, Inc.:
Salesforce.com offers cloud-based software and CRM solutions, connecting sales associates, partners, and employees to enhance customer relationships.
Top 10 Trailblazers Leading the Revolution in the Artificial Intelligence in Retail Market: https://meticulousblog.org/top-10-companies-in-artificial-intelligence-in-retail-market/
Anticipated Growth:
Meticulous Research predicts a remarkable growth rate of 41% in the Artificial Intelligence in Retail Market during the forecast period of 2023-2030. For an in-depth analysis of each of these companies, including their financial performance, key products, strategies, partnerships, and the global Artificial Intelligence in Retail Market, refer to Meticulous Research®’s comprehensive report, “Global Opportunity Analysis and Industry Forecast (2019-2025).”
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