Global Artificial Intelligence in Retail Market Size Study, by Solution (Personalized Product Recommendation, Visual Search, Virtual Stores, Virtual Customer Assistant, CRM), Type (Generative AI, Other AI), Business Function, End User (Online, Offline), and Regional Forecasts 2022-2032

January 2025 | 285 pages | ID: GB9281E69BB6EN
Bizwit Research & Consulting LLP

Abstracts

The global Artificial Intelligence in Retail Market, valued at approximately USD 23.58 billion in 2023, is set to experience exponential growth, surging at a remarkable compound annual growth rate (CAGR) of 32.00% over the forecast period 2024-2032. The integration of artificial intelligence into retail represents a transformative leap, enabling retailers to enhance customer experiences, streamline operations, and optimize decision-making processes. AI solutions such as personalized product recommendations, visual search technologies, and virtual customer assistants are driving unprecedented levels of efficiency and engagement across the retail ecosystem.

The market is witnessing a paradigm shift as retailers leverage generative AI to deliver hyper-personalized shopping experiences, catering to the diverse preferences of a global customer base. Additionally, virtual stores and AI-powered CRM solutions are empowering businesses to enhance customer interactions, improve retention, and achieve operational scalability. By incorporating advanced AI technologies, retailers can predict consumer behavior with precision, reduce inefficiencies, and unlock new revenue streams.

The rapid proliferation of e-commerce platforms and the increasing adoption of AI technologies in offline channels are propelling the market forward. Investments in research and development, coupled with strategic collaborations between technology providers and retailers, are fostering innovation in the sector. However, challenges such as high implementation costs, data privacy concerns, and integration complexities with legacy systems may impede the seamless adoption of AI in retail environments.

Regionally, North America dominates the Artificial Intelligence in Retail Market, attributed to robust technological infrastructure, a high penetration of e-commerce platforms, and significant investments in AI-driven innovation. Europe follows closely, supported by stringent data privacy regulations and a focus on sustainable retail practices. Meanwhile, the Asia Pacific region is expected to witness the fastest growth, driven by rapid digitization, a growing consumer base, and government initiatives promoting AI adoption across the retail sector.

Major market players included in this report are:

• IBM Corporation
• Google LLC
• Amazon Web Services (AWS)
• Salesforce.com, Inc.
• Microsoft Corporation
• Oracle Corporation
• Adobe Inc.
• SAP SE
• Nvidia Corporation
• Intel Corporation
• Baidu, Inc.
• Alibaba Group Holding Limited
• Infosys Limited
• Accenture Plc
• Shopify Inc.

The detailed segments and sub-segment of the market are explained below:

By Solution:

• Personalized Product Recommendation
• Visual Search
• Virtual Stores
• Virtual Customer Assistant
• CRM

By Type:

• Generative AI
• Other AI

By Business Function:

• Marketing and Sales
• Customer Support
• Supply Chain Management
• Inventory Management

By End User:

• Online
• Offline

By Region:

North America:

• U.S.
• Canada

Europe:

• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific:

• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America:

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa:

• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Years considered for the study are as follows:

• Historical year: 2022
• Base year: 2023
• Forecast period: 2024 to 2032

Key Takeaways:

• Market Estimates & Forecasts for 10 years from 2022 to 2032.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of geographical landscape with country-level data.
• Competitive landscape featuring major market players and their strategies.
• Insights into demand-side and supply-side market dynamics.
• Strategic recommendations to capitalize on emerging market opportunities.

Contents

Table of Content

CHAPTER 1. GLOBAL ARTIFICIAL INTELLIGENCE IN RETAIL MARKET EXECUTIVE SUMMARY

1.1. Global Artificial Intelligence in Retail Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
  1.3.1. By Solution
  1.3.2. By Type
  1.3.3. By Business Function
  1.3.4. By End User
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

CHAPTER 2. GLOBAL ARTIFICIAL INTELLIGENCE IN RETAIL MARKET DEFINITION AND RESEARCH ASSUMPTIONS

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
  2.3.1. Inclusion & Exclusion
  2.3.2. Limitations
  2.3.3. Supply Side Analysis
    2.3.3.1. Availability
    2.3.3.2. Infrastructure
    2.3.3.3. Regulatory Environment
    2.3.3.4. Market Competition
    2.3.3.5. Economic Viability (Consumer’s Perspective)
  2.3.4. Demand Side Analysis
    2.3.4.1. Regulatory Frameworks
    2.3.4.2. Technological Advancements
    2.3.4.3. Environmental Considerations
    2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

CHAPTER 3. GLOBAL ARTIFICIAL INTELLIGENCE IN RETAIL MARKET DYNAMICS

3.1. Market Drivers
  3.1.1. Increasing Adoption of AI Technologies in Retail
  3.1.2. Demand for Personalized Customer Experiences
  3.1.3. Rapid Proliferation of E-commerce Platforms
3.2. Market Challenges
  3.2.1. High Implementation Costs
  3.2.2. Data Privacy Concerns
  3.2.3. Integration Complexities with Legacy Systems
3.3. Market Opportunities
  3.3.1. Growing Adoption of AI in Offline Retail Channels
  3.3.2. Advancements in Generative AI Technologies
  3.3.3. Strategic Collaborations and Partnerships

CHAPTER 4. GLOBAL ARTIFICIAL INTELLIGENCE IN RETAIL MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
  4.1.6. Futuristic Approach to Porter’s 5 Force Model
  4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
  4.2.1. Political
  4.2.2. Economical
  4.2.3. Social
  4.2.4. Technological
  4.2.5. Environmental
  4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL ARTIFICIAL INTELLIGENCE IN RETAIL MARKET SIZE & FORECASTS BY SOLUTION 2022-2032

5.1. Segment Dashboard
5.2. Global Artificial Intelligence in Retail Market: Solution Revenue Trend Analysis, 2022 & 2032 (USD Billion)
  5.2.1. Personalized Product Recommendation
  5.2.2. Visual Search
  5.2.3. Virtual Stores
  5.2.4. Virtual Customer Assistant
  5.2.5. CRM

CHAPTER 6. GLOBAL ARTIFICIAL INTELLIGENCE IN RETAIL MARKET SIZE & FORECASTS BY TYPE 2022-2032

6.1. Segment Dashboard
6.2. Global Artificial Intelligence in Retail Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
  6.2.1. Generative AI
  6.2.2. Other AI

CHAPTER 7. GLOBAL ARTIFICIAL INTELLIGENCE IN RETAIL MARKET SIZE & FORECASTS BY BUSINESS FUNCTION 2022-2032

7.1. Segment Dashboard
7.2. Global Artificial Intelligence in Retail Market: Business Function Revenue Trend Analysis, 2022 & 2032 (USD Billion)
  7.2.1. Marketing and Sales
  7.2.2. Customer Support
  7.2.3. Supply Chain Management
  7.2.4. Inventory Management

CHAPTER 8. GLOBAL ARTIFICIAL INTELLIGENCE IN RETAIL MARKET SIZE & FORECASTS BY END USER 2022-2032

8.1. Segment Dashboard
8.2. Global Artificial Intelligence in Retail Market: End User Revenue Trend Analysis, 2022 & 2032 (USD Billion)
  8.2.1. Online
  8.2.2. Offline

CHAPTER 9. GLOBAL ARTIFICIAL INTELLIGENCE IN RETAIL MARKET SIZE & FORECASTS BY REGION 2022-2032

9.1. North America Artificial Intelligence in Retail Market
  9.1.1. U.S. Artificial Intelligence in Retail Market
    9.1.1.1. Solution Breakdown Size & Forecasts, 2022-2032
    9.1.1.2. Type Breakdown Size & Forecasts, 2022-2032
  9.1.2. Canada Artificial Intelligence in Retail Market
9.2. Europe Artificial Intelligence in Retail Market
  9.2.1. UK Artificial Intelligence in Retail Market
  9.2.2. Germany Artificial Intelligence in Retail Market
  9.2.3. France Artificial Intelligence in Retail Market
  9.2.4. Spain Artificial Intelligence in Retail Market
  9.2.5. Italy Artificial Intelligence in Retail Market
  9.2.6. Rest of Europe Artificial Intelligence in Retail Market
9.3. Asia Pacific Artificial Intelligence in Retail Market
  9.3.1. China Artificial Intelligence in Retail Market
  9.3.2. India Artificial Intelligence in Retail Market
  9.3.3. Japan Artificial Intelligence in Retail Market
  9.3.4. Australia Artificial Intelligence in Retail Market
  9.3.5. South Korea Artificial Intelligence in Retail Market
  9.3.6. Rest of Asia Pacific Artificial Intelligence in Retail Market
9.4. Latin America Artificial Intelligence in Retail Market
  9.4.1. Brazil Artificial Intelligence in Retail Market
  9.4.2. Mexico Artificial Intelligence in Retail Market
  9.4.3. Rest of Latin America Artificial Intelligence in Retail Market
9.5. Middle East & Africa Artificial Intelligence in Retail Market
  9.5.1. Saudi Arabia Artificial Intelligence in Retail Market
  9.5.2. South Africa Artificial Intelligence in Retail Market
  9.5.3. Rest of Middle East & Africa Artificial Intelligence in Retail Market

CHAPTER 10. COMPETITIVE INTELLIGENCE

10.1. Key Company SWOT Analysis
  10.1.1. IBM Corporation
  10.1.2. Google LLC
  10.1.3. Amazon Web Services (AWS)
10.2. Top Market Strategies
10.3. Company Profiles
  10.3.1. IBM Corporation
    10.3.1.1. Key Information
    10.3.1.2. Overview
    10.3.1.3. Financial (Subject to Data Availability)
    10.3.1.4. Product Summary
    10.3.1.5. Market Strategies
  10.3.2. Salesforce.com, Inc.
  10.3.3. Microsoft Corporation
  10.3.4. Oracle Corporation
  10.3.5. Adobe Inc.
  10.3.6. SAP SE
  10.3.7. Nvidia Corporation
  10.3.8. Intel Corporation
  10.3.9. Baidu, Inc.
  10.3.10. Alibaba Group Holding Limited
  10.3.11. Infosys Limited
  10.3.12. Accenture Plc
  10.3.13. Shopify Inc.

CHAPTER 11. RESEARCH PROCESS

11.1. Research Process
  11.1.1. Data Mining
  11.1.2. Analysis
  11.1.3. Market Estimation
  11.1.4. Validation
  11.1.5. Publishing
11.2. Research Attributes
________________________________________

List Of Tables

LIST OF TABLES

TABLE 1. Global Artificial Intelligence in Retail Market, Report Scope
TABLE 2. Global Artificial Intelligence in Retail Market Estimates & Forecasts by Region 2022-2032 (USD Billion)
TABLE 3. Global Artificial Intelligence in Retail Market Estimates & Forecasts by Solution 2022-2032 (USD Billion)
TABLE 4. Global Artificial Intelligence in Retail Market Estimates & Forecasts by Type 2022-2032 (USD Billion)
TABLE 5. Global Artificial Intelligence in Retail Market Estimates & Forecasts by Business Function 2022-2032 (USD Billion)
TABLE 6. Global Artificial Intelligence in Retail Market Estimates & Forecasts by End User 2022-2032 (USD Billion)
TABLE 7. U.S. Artificial Intelligence in Retail Market Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 8. Germany Artificial Intelligence in Retail Market Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 9. China Artificial Intelligence in Retail Market Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 10. UK Artificial Intelligence in Retail Market Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 11. France Artificial Intelligence in Retail Market Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 12. Japan Artificial Intelligence in Retail Market Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 13. Brazil Artificial Intelligence in Retail Market Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 14. Australia Artificial Intelligence in Retail Market Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 15. Saudi Arabia Artificial Intelligence in Retail Market Estimates & Forecasts, 2022-2032 (USD Billion)

List Of Figures

LIST OF FIGURES

FIG 1. Global Artificial Intelligence in Retail Market, Research Methodology
FIG 2. Global Artificial Intelligence in Retail Market, Market Estimation Techniques
FIG 3. Global Market Size Estimates & Forecast Methods
FIG 4. Global Artificial Intelligence in Retail Market, Key Trends 2023
FIG 5. Global Artificial Intelligence in Retail Market, Growth Prospects 2022-2032
FIG 6. Global Artificial Intelligence in Retail Market, Porter's 5 Force Model
FIG 7. Global Artificial Intelligence in Retail Market, PESTEL Analysis
FIG 8. Global Artificial Intelligence in Retail Market, Value Chain Analysis
FIG 9. Global Artificial Intelligence in Retail Market by Solution, 2022 & 2032 (USD Billion)
FIG 10. Global Artificial Intelligence in Retail Market by Type, 2022 & 2032 (USD Billion)
FIG 11. Global Artificial Intelligence in Retail Market by Business Function, 2022 & 2032 (USD Billion)
FIG 12. Global Artificial Intelligence in Retail Market by End User, 2022 & 2032 (USD Billion)
FIG 13. Global Artificial Intelligence in Retail Market, Regional Snapshot 2022 & 2032
FIG 14. North America Artificial Intelligence in Retail Market, 2022 & 2032 (USD Billion)
FIG 15. Europe Artificial Intelligence in Retail Market, 2022 & 2032 (USD Billion)
FIG 16. Asia Pacific Artificial Intelligence in Retail Market, 2022 & 2032 (USD Billion)
FIG 17. Latin America Artificial Intelligence in Retail Market, 2022 & 2032 (USD Billion)
FIG 18. Middle East & Africa Artificial Intelligence in Retail Market, 2022 & 2032 (USD Billion)
FIG 19. Global Artificial Intelligence in Retail Market, Company Market Share Analysis (2023)
This list is not complete, final report does contain more than 50 figures. The list may be updated in the final deliverable.