CHICAGO, NY, UNITED STATES, November 20, 2024 /EINPresswire.com/ -- The 𝐕𝐢𝐞𝐭𝐧𝐚𝐦 𝐀𝐈 𝐢𝐧 𝐫𝐞𝐭𝐚𝐢𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 is poised for exponential growth, with its valuation projected to skyrocket from 𝐔𝐒𝐃 𝟖𝟔.𝟔𝟐 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟑 to 𝐔𝐒𝐃 𝟔𝟑𝟕.𝟑𝟐 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐, reflecting a robust compound annual growth rate (𝐂𝐀𝐆𝐑) 𝐨𝐟 𝟐𝟓.𝟓𝟓% during the forecast period of 𝟐𝟎𝟐𝟒–𝟐𝟎𝟑𝟐.

𝐓𝐡𝐞 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:- https://www.astuteanalytica.com/request-sample/vietnam-ai-in-retail-market

This impressive growth underscores the increasing adoption of artificial intelligence technologies across Vietnam's retail sector. AI-driven solutions such as personalized recommendations, inventory optimization, dynamic pricing, and smart checkout systems are transforming the retail landscape, enhancing operational efficiency, and elevating customer experiences.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

𝐃𝐫𝐢𝐯𝐞𝐫: 𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐢𝐬 𝐛𝐨𝐨𝐬𝐭𝐢𝐧𝐠 𝐀𝐈 𝐚𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐢𝐧 𝐕𝐢𝐞𝐭𝐧𝐚𝐦'𝐬 𝐫𝐞𝐭𝐚𝐢𝐥 𝐬𝐞𝐜𝐭𝐨𝐫

The Vietnamese government has recognized AI as a pivotal technology for economic growth, leading to substantial investments in the AI in retail market. In 2023, the government allocated $415 million specifically for AI research and application through the National Strategy on AI Development until 2030. This initiative includes grants and incentives for retailers adopting AI technologies, making it financially feasible for companies like VinCommerce to integrate AI into their operations. The government's support extends to collaborations with international tech firms, facilitating knowledge transfer and technology exchange which enhances the local AI capabilities within the retail sector.

This investment in the AI in retail market has led to the establishment of AI-focused innovation hubs, such as the Hanoi Innovation Centre, which supports retail tech startups. As a result, over 150 startups focusing on AI solutions for retail emerged in 2023, attracting venture capital funding totaling $300 million. These startups are developing applications ranging from AI-driven customer service bots to intelligent supply chain management systems, directly contributing to modernizing Vietnam's retail infrastructure. Furthermore, government-led training programs aim to address the talent gap by producing 50,000 AI professionals by 2025. Educational institutions are partnering with retailers to provide practical AI implementation experience. For example, the collaboration between FPT University and Saigon Co.op involves training students who then contribute to developing AI solutions that have already improved inventory turnover rates by 18% in participating stores.

Key drivers of this market expansion include the rapid digital transformation in Vietnam, a growing e-commerce ecosystem, and increasing investments in AI infrastructure by leading retailers. The integration of AI-powered analytics to understand consumer behavior and tailor marketing strategies further accelerates the adoption of these advanced technologies.

Amazon Web Services Inc.
Alibaba Group Holding Limited
Microsoft Corporation
IBM Corporation
Google LLC (Alphabet Inc.)
SAP SE
Nvidia Corporation
FPT Smart Cloud Company Limited
Intel Corporation
Other Prominent Players

As businesses continue to innovate, Vietnam's AI in retail market is expected to play a crucial role in shaping the future of the country's retail industry.

𝐅𝐨𝐫 𝐟𝐮𝐫𝐭𝐡𝐞𝐫 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐜𝐨𝐧𝐭𝐚𝐜𝐭: https://www.astuteanalytica.com/industry-report/vietnam-ai-in-retail-market

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

𝐁𝐲 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭

• Hardware
• Camera and Imaging Devices
• Sensors
• AI Chips
• Data Loggers
• Service Robots
• Smart Shelves & Labels
• Displays
• Scanners
• POS Systems
• Others
• Solution/ Software
• AI Platform/Tools
• Chatbots & Virtual Assistants
• Others
• Services
• Professional Services
• Managed Services

𝐁𝐲 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲

• Natural Processing Language (NLP)
• Machine Learning (ML)
• Computer Vision (CV)
• Data Mining
• Deep Learning
• Robotic Process Automation (RPA)
• Others

𝐁𝐲 𝐃𝐞𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭

• Cloud-Based
• On-Premises

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

• Front-End
• Customer Service
• AI-based Chatbots
• Virtual Assistants
• Sales & Marketing
• Personalized Recommendations
• Predictive Analytics
• Visual Search and Image Recognition
• In-Store Operations
• Autonomous Checkout Systems
• Smart Shelves
• Heatmap
• People Counting
• Consumer Behavior Analysis
• Others
• Back-End
• Supply Chain & Inventory Management
• Fraud Detection & Prevention
• Demand Forecasting
• Price Optimization
• Warehouse Automation
• Workforce Management
• Others

𝐁𝐲 𝐄𝐧𝐝 𝐔𝐬𝐞𝐫𝐬

• Specialized Retail
• Supermarkets/Hypermarkets
• Omnichannel Retailers

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/vietnam-ai-in-retail-market

𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:

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They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyse for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.

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Astute Analytica
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