Home > Media & Technology > Next Generation Technologies > AI and Machine Learning > AI in Retail Market

AI in Retail Market Share

Report ID: GMI2568
Published Date: Jan 2023
Report Format: PDF

Download Free Sample

AI in Retail Market Share

Some of the leading companies involved in the AI in retail market include

Oracle Corporation
Amazon Web Services (AWS)
BloomReach Inc.
IBM Corporation
Intel Corporation
Interactions LLC
Microsoft Corporation
Nvidia Corporation
RetailNext Inc.
Next IT Corp.
Inbenta Technologies
Salesforce.com Inc.
Lexalytics Inc.
SAP SE
Sentient Technologies
Google Inc.
CognitiveScale Inc.
Visenze
Baidu Inc.
Symbotic

These companies majorly engage in product innovation and collaborate with retail firms to remain ahead in the competitive landscape.

For instance, in May 2022, Symbotic, a robotics warehouse automation company, announced the deployment of its automation technology at Walmart’s 42 Regional Distribution Centers to improve the accuracy of the retail giant’s inventory and expand the capacity of its warehouses.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The global market of AI in Retail surpassed a valuation of USD 6 billion in 2022 and is slated to progress at more than 30% CAGR over the next 10 years owing to the extensive use of product identification and computer vision technologies in retail warehouses.

The programmatic advertising application segment is anticipated to exceed USD 25 billion in revenue by the end of 2032 on account of the growing need for personalized promotion in retailing.

The computer vision segment held over 15% market share in 2022 due to the prevalent utilization of computer vision technology by merchants for several in-store applications to compete with their online rivals.

The market for AI in retail in Europe is expected to grow at a rapid pace to attain a market share of more than 15% by 2032 propelled by the rapid digitalization, shifting customer preferences, and product innovation efforts by industry participants operating in the region.