AI in Retail Market is Expected to Witness a Sustainable Growth Over 2021-2030

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Market is driven by factors such as perpetually growing internet users and smart devices, increasing awareness about AI and big data & analytics.

PORTLAND, PORTLAND, OR, UNITED STATE, December 3, 2021 /EINPresswire.com/ -- Asia-Pacific is expected to see a remarkable growth of artificial intelligence in retail market. This area has seen growth in the infrastructure, capital spending, economic growth, and demand for the consumer goods in the recent years.

The government of the countries of this region, especially China, India, and Japan are taking initiatives to expand the growth of e-commerce. In addition, the e-commerce companies are taking initiatives to implement artificial intelligence in their software to manage supply chain and inventory efficiently. Furthermore, growth in internet connectivity and knowledge & adoption of the latest technology are the factors that propel the growth of AI in retail market.

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Major Key-player: International Business Machines Corp., Intel Corp., Signifyd Inc., Sentient Technologies, SAP SE, Infinite Analytics Inc., Standard Cognition Corp., BloomReach Inc., Google LLC, Microsoft Corp.

Rise in the demand for technological advancement in the retail sector has helped to improve sales, predict customer perception, and handle customer relations, which drive the growth of the artificial intelligence in the retail market. In addition, artificial intelligence helps to improve operational efficiency and handle customer relations using chatbot technology that propels the growth of the market

Furthermore, high cost of implementation, risk of unemployment, and lack of creativity are the factors that act as barriers to the market. However, rapid awareness and adoption of artificial intelligence, and big data analytics in the retail sector drive the growth of this market in the forecast period.

Prime Benefits from this Research Report:

• This study presents analytical depiction of AI in retail market along with the current trends and future estimations to determine the imminent investment pockets.

• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.

• The current market is quantitatively analyzed from 2021 to 2030 to highlight the growth scenario of the market.

• Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.

• The report provides a detailed market analysis based on the present and future competitive intensity of the market.

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