Home Business Artificial Intelligence in retail market to reach USD 23,426.3 mn by 2026: Report
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Artificial Intelligence in retail market to reach USD 23,426.3 mn by 2026: Report

Artificial Intelligence in retail market to reach USD 23,426.3 mn by 2026: Report
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The global artificial intelligent (AI) in retail market size is estimated to reach USD
23,426.3 million by 2026, exhibiting a CAGR of 33.7% during the forecast period. The
ongoing shift by retailers from traditional retail experience to AI-driven business
solutions is one of the crucial factors enabling the growth of the AI in retail market.
According to an article published by Forbes, 83% believe AI is a strategic priority for
their businesses today and 84% of respondents say AI will enable them to obtain or
sustain a competitive advantage. The growing awareness about the advantages of AI in
retail operations such as quality improvement, paced up decision making, strong
operational agility and enhanced customer experience will boost the AI in retail market
growth in the forthcoming years. In addition, exceptional benefits of AI-powered data
analytics will further spur demand for AI in retail market in the foreseeable future.

According to the report, published by Fortune Business Insights™ in a report, titled
"Artificial Intelligence (AI) in Retail Market Size, Share & Industry Analysis, By Offering
(Solutions, Services), By Function (Operations-Focused, Customer-Facing), By
Technology (Computer Vision, Machine Learning, Natural Language Processing, and
Others), and Regional Forecast, 2019-2026" the AI in retail market size was valued
at USD 2,306.8 million in 2018. The report is aimed at delivering a comprehensive view
of the AI in retail market dynamics, structure by identifying and providing information
regarding the key market segments. It also focuses on an all-encompassing analysis of
leading market players by financial position, product, product portfolio, price, growth
strategies, and regional presence. It offers porter's analysis and SWOT analysis to
record the question of shareholders and highlights the investment potential in the
upcoming future. It also showcases different procedures and strategies of companies
currently operating in the market. It further examines the components convincing market
expansion, growth patterns, restricting factors and market strategies.

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