Brooklyn, NY — 11/22/2017 — QYResearchReports.com has added a market study, titled “Global Artificial Intelligence in Retail Market Size, Status, and Forecast 2022,” to its database. The report examines and forecasts the market both at the global and local level. It covers the impact of various drivers and restraints on the market and highlights the opportunities in it. It estimates its current and future size vis-à-vis revenue and the current and future competitive dynamics as well.
Technology has flipped the retail landscape on its head. With emergence of omni-channel retail wherein retailers pitch their products through multiple channels – both online and offline – modern cutting-edge computing such as analytics, robotics, and deep learning have gained a place of prominence. All of these, key components in artificial intelligence, are leveraged in almost every process in the retail industry – be it in optimizing the supply chain, data mining and analytics to up conversion, or customizing shopping experiences with predictive modeling and micro-targeting or pricing.
Artificial intelligence can aid in taking important business decisions faster and in product management by offering actionable insights. This will serve to boost customer engagement since they prefer convenient, responsive, and personalized services. AI can also be leveraged for other crucial decision making processes such as the best location for launching a new store. Smart algorithms, for example, factor in historical data like sales, demographics, distance from competitors, nearby events, and current data such as weather patterns to decide on opening a new store and other crucial aspects.
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Artificial intelligence, further, can help solve issues related to staffing through predictive modeling using historical data like foot falls, sales, and marketing campaigns thereby facilitating dynamic staffing which can up sales and revenues through better customer engagement and retention. IBM's Watson, for instance, is offering a raft of order management and customer engagement capabilities to eCommerce retailers. In 2016, 1-800-Flowers.com launched Gifts When You Need (GWYN), which the company calls its AI gift concierge. With the information given by consumers about the recipient of the gift, the software comes up with personalized gift recommendations by comparing specifics provided to gifts purchased for similar recipients.
Then of course there are humanoid robots. Take for example Pepper, the first humanoid robot capable of recognizing main human emotions and changing its demeanor in response to it. About 140 SoftBank Mobile stores in Japan are using Pepper as a new manner of welcoming, informing, and entertaining their customers. Pepper also became the first humanoid robot to be adopted in Japanese homes recently!
For the sake of convenience of readers, the report classifies such myriad applications of artificial intelligence in retail into predictive merchandising, programmatic advertising, market forecasting, in-store visual monitoring and surveillance, location-based marketing, etc. Depending upon the mode of deployment again, the market can be divided into cloud and on-premise.
Geographically, the main segments of the global artificial intelligence in retail market can be segmented into the U.S., the EU, China, Japan, India, and Southeast Asia. Among them, North America is a key market on account of the major and relatively new technology innovators being domiciled in the region. Numerous big retail chains and early adoption of technology too has boosted the market in the region.
Read Complete Table of Content of the Report at: https://www.qyresearchreports.com/report/global-artificial-intelligence-in-retail-market-size-status-and-forecast-2022.htm/toc
Some of the key players in the market profiled in the report are Microsoft, IBM, Nvidia, Oracle, Amazon Web Services, SAP, Google, Intel, Sentient Technologies, Visenze, and Salesforce. The report studies their various offerings, upcoming technologies, sales and revenues, and prospects going forward. It also banks upon market leading analytical tools to uncover opportunities and threats they might be faced with.
Table of Contents
Global Artificial Intelligence in Retail Market Size, Status and Forecast 2022
1 Industry Overview of Artificial Intelligence in Retail
1.1 Artificial Intelligence in Retail Market Overview
1.1.1 Artificial Intelligence in Retail Product Scope
1.1.2 Market Status and Outlook
1.2 Global Artificial Intelligence in Retail Market Size and Analysis by Regions
1.2.1 United States
1.2.2 EU
1.2.3 Japan
1.2.4 China
1.2.5 India
1.2.6 Southeast Asia
1.3 Artificial Intelligence in Retail Market by Type
1.3.1 Cloud
1.3.2 On-Premises
1.4 Artificial Intelligence in Retail Market by End Users/Application
1.4.1 Predictive Merchandising
1.4.2 Programmatic Advertising
1.4.3 Market Forecasting
1.4.4 In-Store Visual Monitoring and Surveillance
1.4.5 Location-Based Marketing
1.4.6 Others
2 Global Artificial Intelligence in Retail Competition Analysis by Players
2.1 Artificial Intelligence in Retail Market Size (Value) by Players (2016 and 2017)
2.2 Competitive Status and Trend
2.2.1 Market Concentration Rate
2.2.2 Product/Service Differences
2.2.3 New Entrants
2.2.4 The Technology Trends in Future
3 Company (Top Players) Profiles
3.1 IBM
3.1.1 Company Profile
3.1.2 Main Business/Business Overview
3.1.3 Products, Services and Solutions
3.1.4 Artificial Intelligence in Retail Revenue (Value) (2012-2017)
3.1.5 Recent Developments
3.2 Microsoft
3.2.1 Company Profile
3.2.2 Main Business/Business Overview
3.2.3 Products, Services and Solutions
3.2.4 Artificial Intelligence in Retail Revenue (Value) (2012-2017)
3.2.5 Recent Developments
3.3 Nvidia
3.3.1 Company Profile
3.3.2 Main Business/Business Overview
3.3.3 Products, Services and Solutions
3.3.4 Artificial Intelligence in Retail Revenue (Value) (2012-2017)
3.3.5 Recent Developments
3.4 Amazon Web Services
3.4.1 Company Profile
3.4.2 Main Business/Business Overview
3.4.3 Products, Services and Solutions
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