Dublin, Oct. 30, 2017 (GLOBE NEWSWIRE) -- The "Artificial Intelligence in Retail Market by Type (Online, Offline), Technology (Machine Learning and Deep Learning, NLP), Solution, Service (Professional, Managed), Deployment Mode (Cloud, On-Premises), Application, Region - Global Forecast to 2022" report has been added to Research and Markets' offering.

Need to offer seamless user-experience to customer and forecast future outcomes to make better strategic decision is expected to propel the AI in retail market growth

The global AI in retail market size is expected to grow from USD 993.6 million in 2017 to USD 5,034.0 million by 2022, at a Compound Annual Growth Rate (CAGR) of 38.3%.

Increasing necessity for superior surveillance and monitoring at a physical store, growing awareness and application of AI in the retail industry, enhanced user-experience, improved productivity, Return on Investment (RoI), mainlining inventory accuracy, and supply chain optimization are some of the key factors fueling the growth of this market. Emergence of machine learning, deep learning, and Natural Language Processing (NLP) technology are expected to develop the AI-based solution for retail and thus, will create opportunities for the growth of this market.

However, issues with diverse development framework, models, mechanism in AI; concern over privacy and identity of the individual; and lack of skilled staff are few major challenges in the AI in retail market.

Market Dynamics

Drivers

• Increasing Necessity for Superior Surveillance and Monitoring at Physically Present Retail Stores
• Growing Awareness and Application of AI in the Retail Industry
• Enhance End-User Experience, Improve Productivity, and Generate More Revenue
• Maintain Inventory Accuracy and Supply Chain Optimization

Restraints

• Incompatibility Concerns

Opportunities

• Increase in AI-Based Data Analysis Application
• Growing Number of Smartphones
• Increase in Adoption of Cloud-Based Technology Solutions

Challenges

• Issues With Diverse Development Framework, Models, and Mechanism in AI
• Concerns Over Privacy and Identity of Individuals
• Lack of Skilled Staff

The key vendors profiled in the report are as follows:

• IBM (US)
• Microsoft (US)
• Amazon Web Services (US)
• Oracle (US)
• SAP (Germany)
• Intel (US)
• NVIDIA (US)
• Google (US)
• Sentient technologies (US)
• Salesforce (US)
• ViSenze (Singapore)
  

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends

6 AI in Retail Market Analysis, By Type

7 Artificial Intelligence in Retail Market Analysis, By Technology

8 AI in Retail Market Analysis, By Solution

9 Artificial Intelligence in Retail Market Analysis, By Service

10 AI in Retail Market Analysis, By Deployment Mode

11 Artificial Intelligence in Retail Market Analysis, By Application

12 Geographic Analysis

13 Company Profiles

• Amazon Web Services
• Google
• IBM
• Intel
• Microsoft
• Nvidia
• Oracle
• SAP
• Salesforce
• Sentient Technologies
• Visenze

For more information about this report visit https://www.researchandmarkets.com/research/nbtd33/artificial

CONTACT: Research and Markets
         Laura Wood, Senior Manager
         press@researchandmarkets.com
         For E.S.T Office Hours Call 1-917-300-0470
         For U.S./CAN Toll Free Call 1-800-526-8630
         For GMT Office Hours Call +353-1-416-8900
         Related Topics: Retail, Artificial Intelligence