AI in Retail, 2019 Market Research Report - Global Industry Analysis and Growth Forecast to 2024 - ResearchAndMarkets.com
Summary
The global artificial intelligence (AI) in retail market attained $720.0 million in 2018 and is predicted to witness a CAGR of 35.4% during 2019-2024 (forecast period). The factors contributing to the growth of the market include the increasing investments in AI by retail companies and expanding e-retail industry. When technology is considered, the AI in retail market is divided into computer vision, NLP, machine learning, and others (which include gesture recognition and analytics). The reason for this is the rising use of this technology by online retailers to enhance the customer experience by offering personalized services. The category of solutions is projected to contribute higher revenue to the market during the forecast period due to their growing adoption by e-commerce enterprises in North America for providing better shopping experience to customers.