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              أعرب 83٪ من المسلمين عن ولعهم بالمنتجات والخدمات الصديقة للبيئة ، وفقا لاستطلاع أجرته TGM Research

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                يعزز تطبيق كام سكانر في الشرق الأوسط من خلال عرض عضوية متميزة و مجانية لمدة ثلاثين يوما

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                يعزز تطبيق كام سكانر في الشرق الأوسط من خلال عرض عضوية متميزة و مجانية لمدة ثلاثين يوما

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                Global Project Management Forum kicks off Monday, June 12

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                  • Algeria

                    France-Algeria relations: Colonial past still dominates ties – DW (English)

                    What is to be made of the Cranes fans expecting Algeria to field a … – Monitor

                    Hungarian Town Worries New EV Battery Plant Will Destroy Water … – International Environmental Technology

                    Aviation's worst: Nigeria, Bangladesh, Algeria, Pakistan, Lebanon – eTurboNews | eTN

                    VESCO Algeria Signs Two MOUs with Elite Capital & Co. to Finance Two Dairy Farm and Greenhouse Projects – EIN News

                    ChatGPT app for iPhone now available in India; how to download, features and more – Business Today

                  • Egypt

                    Egypt approves local initiatives to convert vehicles to run on … – Ahram Online

                    Fawry signs agreement with WFP for cutting-edge multi-purpose cash-assistance platform in Egypt – ZAWYA

                    ‘You were a ray of sunlight’: 3 IDF troops killed in Egypt border shooting buried – The Times of Israel

                    Egypt to increase FY 2023/24 healthcare spending by 15 percent … – Ahram Online

                    Amadeus Egypt, NSAS team up to boost travel sector in Middle East – ZAWYA

                    Communications Ministry cooperates with GIZ in e-government … – Daily News Egypt

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                  • Libya

                    LIBYA : TotalEnergies sparks tensions by choosing Basalt as its … – Africa Intelligence

                    Libya: Officials impose indefinite 20:00-06:00 curfew in Tobruk … – Crisis24

                    UBS considers delaying results after Credit Suisse rescue – FT – Yahoo Canada Finance

                    Eastern Libya forces stage mass deportation of Egyptian migrants – Reuters.com

                    Google celebrates life of Saudi novelist and critic Abdul Rahman … – Arabian Business

                    Ministry of Transport plans to develop Libya-Tunisia Ras Jedir … – Libya Update

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                    • Morocco

                      The 10 fastest high-speed trains in the world – Railway Technology

                      Morocco's King, After Long Trips Abroad, Works To 'Restore Authority' – Barron's

                      Morocco – ancient and seaside holiday cities, architectural wonders … – Budapest Times

                      Jill Biden Expresses Gratitude to Morocco's Royal Family for Warm … – Morocco World News

                      FVC to Showcase Latest Technology Offerings at GITEX Africa 2023 – ZAWYA

                      Amir Ohana To Visit Morocco In Early June, A First For Israel's … – i24NEWS

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                      • South Sudan

                        As Sudan war rages, country's health system nears breaking point – ABC News

                        Sudan: Clashes between SAF and RSF – Flash Update No. 14 (28 … – ReliefWeb

                        Sudan's army says it is committed to seven-day ceasefire mediated … – The National

                        COLUMN: Sudan at war; refugees at our door | Pius Kamau – Colorado Springs Gazette

                        Eritrea accused of forcibly repatriating civilians caught up in Sudan fighting – The Guardian

                        Mass exodus from Sudan as deadly fighting enters third week – FRANCE 24 English

                        Trending Tags

                        • Sudan

                          Sudan fighters take over Khartoum museum raising fears for safety … – Arab News

                          Saudi foreign ministry calls on Sudan factions to agree new ceasefire – Reuters

                          Sudan Country Refugee Response Plan Addendum, January … – ReliefWeb

                          US, Saudi Arabia urge Sudan's warring parties to agree to a new cease-fire, fighting continues – The San Diego Union-Tribune

                          Sudan: How the generals disappeared the people on the way to the … – African Arguments

                          RSF advisor: 'Hemedti is alive and is leading the battle in Sudan … – Radio Dabanga

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                          • Tunisia

                            EBRD First Vice President visits Tunisia – EBRD

                            Conservatives call out multinational corporations for supporting pride month in America, but not Middle East – Fox Business

                            Tax the wealthiest to avoid IMF, says Tunisia’s president – Al Jazeera English

                            Aberdeen linked with Ipswich Town midfielder and Tunisia international Idris El Mizouni – Aberdeen Live

                            Tunisia carry Arab hopes into knock-out stages of 2023 FIFA U-20 … – Arab News

                            Kenya's 'Kahawa Black,' Uganda's 'Big three' set for SA's Durban FilmMart – The East African

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                            • North Africa
                              ملتقى الاستثمار السنوي 2023 يناقش دور التكنولوجيا الرقمية في تصميم مدن المستقبل

                              Annual Investment Meeting 2023 to Explore the Role of Digital Technology in Designing Future Cities

                              BZR on Coinstore – a Significant Milestone for Bazaars

                              BZR on Coinstore – a Significant Milestone for Bazaars

                              Kaafmeem to Provide VIP Clothing for Saudi Motorsport Company during Formula1 event in KSA.

                              Kaafmeem to Provide VIP Clothing for Saudi Motorsport Company during Formula1 event in KSA.

                              أعرب 83٪ من المسلمين عن ولعهم بالمنتجات والخدمات الصديقة للبيئة ، وفقا لاستطلاع أجرته TGM Research

                              أعرب 83٪ من المسلمين عن ولعهم بالمنتجات والخدمات الصديقة للبيئة ، وفقا لاستطلاع أجرته TGM Research

                              أوتيكو تتصدر ١٣٠٠٠ عينة بيئية تم تحليلها في ميناء تامان

                              أوتيكو تتصدر ١٣٠٠٠ عينة بيئية تم تحليلها في ميناء تامان

                              GCC health authorities and industry leaders meet to discuss pharma regulations and innovations

                              GCC health authorities and industry leaders meet to discuss pharma regulations and innovations

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                              • Middle east
                                يعزز تطبيق كام سكانر في الشرق الأوسط من خلال عرض عضوية متميزة و مجانية لمدة ثلاثين يوما

                                CamScanner Enhances User Experience in Middle East with Free 30-Day Premium Membership Offer

                                يعزز تطبيق كام سكانر في الشرق الأوسط من خلال عرض عضوية متميزة و مجانية لمدة ثلاثين يوما

                                يعزز تطبيق كام سكانر في الشرق الأوسط من خلال عرض عضوية متميزة و مجانية لمدة ثلاثين يوما

                                Global Project Management Forum kicks off Monday, June 12

                                Global Project Management Forum kicks off Monday, June 12

                                Global Project Management Forum kicks off Monday, June 12

                                انطلاق فعاليات المنتدى العالمي لإدارة المشاريع الإثنين المقبل

                                استكشاف الإمكانات غير المستغلة لطاقة النيوترينو

                                استكشاف الإمكانات غير المستغلة لطاقة النيوترينو

                                الرياض تستضيف فعاليات الدورة الثانية من المنتدى العالمي لإدارة المشاريع

                                الرياض تستضيف فعاليات الدورة الثانية من المنتدى العالمي لإدارة المشاريع

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                                  Integrated Security Services Market to grow at a CAGR of 14.6 percent to reach USD 47.77 Billion. by 2029

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                                  Home Press Releases

                                  Artificial Intelligence in Retail Market Estimated to grow at a CAGR of 40.10% During the Forecast Period 2021-2026

                                  admin by admin
                                  February 12, 2022
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                                  (EMAILWIRE.COM, February 12, 2022 ) Global Artificial Intelligence in Retail Market generated a value of $1,524.3 million in 2020 and is estimated to reach $10,164.7 million by 2026, growing at a CAGR of 40.10% during the forecast period of 2021-2026. Artificial Intelligence in retail enables faster business decisions based on outputs from cognitive technologies and saves time and money by automating and optimizing routine processes and tasks. Business leaders are looking for ways to sharpen their competitive edge, and are implementing AI to improve the standards, customer experience, and revenues and fast processing. Retail Artificial Intelligence (AI) is set to pave the way for the smart commercialism in industries like food & beverages, electronics, fashion and all other sectors, where processes can be optimized by machine learning and predicting the human behavior. Ai in Retail Market is majorly driven by increased usage of artificial intelligence in customer relationship management, warehouse automation and in online stores, especially in clothing. The expanding investments in AI-based solutions along with the rising machine ability for verdict creation from trillion bytes of online data is estimated to drive the market growth during the forecast period 2021-2026.

                                  Artificial Intelligence in Retail Market Segment Analysis – By Platform

                                  By Platform, In Store segment held the major share in 2020 with a revenue of 943.78m and is estimated to reach 5,407.55m by 2026 growing at a CAGR of 36.60% during the forecast period 2021-2026. However, E-Commerce segment is estimated to grow at a fastest rate CAGR of 44.84% during the forecast period 2021-2026. Commerce Artificial Intelligence, which has started is showing effect on different industries such as marketing, finance, healthcare, and more, used in the area of e-commerce. It is predicted to see a huge surge of Retail artificial Intelligence in e-commerce, and this technology is used to develop valuable business insights. Today, AI in Retail is modifying the way in which e-commerce stores function and offer the services to their customers. Some of the ways in which commerce artificial intelligence is changing the field of online shopping are image search, customer centric search, retarget potential customers, virtual buying assistants, analyzing big data. The technology also offers innovative opportunities to evaluate Big Data and lets e-commerce business connect with their customers on a new level and create superior client experiences. AI applications analyses the customer data to project future shopping trends and make product recommendations based on browsing pattern which is driving the markets growth. However, this comes at high cost, it is a complex process, apart from the installation costs, the restoration and maintenance is often pricey. Also, if there is a breakdown, the costs and time of procurement is very high which is likely to hinder the market.

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                                  Artificial Intelligence in Retail Market Segment Analysis – By Application

                                  By Application, Warehouse segment is the major revenue generating segment with $403.53m in 2020 and is forecast to generate $2,969.39m by 2026. This is mainly owing to the use of robots to automate and speed up work. The Retail Artificial Intelligence is all around us, all the business have been using AI technology to improve the decision-making process, and the use of Customer Relationship Management (CRM) is growing as well. Integration of AI into CRM can automate the customer emails, reports, captures the data and more, which avoids the risk of human errors in daily life and in administration. According to the trends of 2020, CRM has evolved, and the AI technology has improved the customer experience as it predicts the future behavior of the customer and segmentation of customers becomes easy, image recognition and sentiment analysis are factors which supports that CRM is the future of the market and which is likely to drive the market. For all these programs to work effectively, a vast volume of information must be gathered and processed. This ensures that the companies are largely responsible for the data protection, in the areas like privacy of customers and privacy of the entire business and there can be risk of data exploitation or system gets corrupted leading to security threats which is likely to hinder the market growth.

                                  Artificial Intelligence in Retail Market Segment Analysis – By Geography

                                  North America is the major region dominating the Retail Artificial Intelligence Market with revenue of $561.27m in 2020 and is also estimated to grow at a fastest CAGR of 39.55% during the forecast period of 2021-2026 to generate a revenue of $3,656.34m in 2026. North America is leading the market especially owing to the availability of leading players of the market in the region and high investments by the government and private entities to advance in the AI technology. In North America region, U.S. is dominating the Retail Artificial Intelligence Market generating a revenue of $397.74m in 2020 and is also estimated to grow at a CAGR of 40.03% during the forecast period of 2021-2026 to generate a revenue of $2,644.99m in 2026. Mexico is likely to surpass U.S in terms of CAGR with 42.56% for the forecast period 2021-2026. Europe is the second major region dominating the Retail Artificial Intelligence Market with revenue of $420.79m in 2020 and is also estimated to grow at a CAGR of 41.53% during the forecast period of 2021-2026 to generate a revenue of $2,984.57m in 2026. The market is fragmented with key players accounting for about 44.54% of the market revenue in 2020. Companies in this market are adopting acquisitions to cut-down competition.

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                                  Artificial Intelligence in Retail Market Drivers

                                  Increasing Use of AI in CRM

                                  Customer Relationship Management (CRM) software has evolved with many developments such as face and voice recognition. For example, Salesforce Einstein and Zoho CRMs Zia are AI-powered CRM that uses voice commands to access information. Companies are using AI to boost their decision-making processes such as online customer support, intelligent personal assistants, and process automation. 65% of the company’s business comes from existing customers and it costs five times greater to attract a new customer than to keep an existed satisfied one. Thus, the use of CRM is essential. Integration of AI tools in CRM will help them to better understand the customers by processing more information in terms of data. Sales representatives who spend their half of time in CRM for trying to manage CRM tasks more effectively. AI technology can easily surpass this challenge by automating most of these tasks and eventually offering more valuable insights. This is turn is driving the growth of the Ai in Retail market during the forecast period 2021-2026.

                                  Increasing Deployment in Growing E-Commerce Sector

                                  Artificial Intelligence is enabling consumers to sense, predict, and automate. It helps startups, manufacturers, and retailers to set a new example in the industry by improving user experience. In 2020, around 80% of consumer interaction in the e-commerce industry is handled by Artificial Intelligence (AI). Trends of consumers are changing in terms of using such technological products and purchasing power. Advanced Visual Search engines such as Google, Amazon, Bing uses real-world images such as snaps, screenshots, internet images for online searches. These features are leveraged by many famous retailers such as ASOS, eBay, Disney, Levis, etc. Moreover, Natural Language Processing (NLP) is used on a wider scale in e-commerce industry to analyze customers’ behavior, shopping trends, and customized recommendations for increasing upselling. With increasing recommendations, accurate e-commerce companies are set to build brand loyalty and expand their customer base. Deep Learning Algorithms are used to recommend e-commerce products as per various patterns in shopping behavior. By analyzing customer data from different channels, the algorithm can identify behavior and purchasing patterns which can be used to predict the exact need and want of customers. Thus, use of AI in e-commerce industry is driving the demand for Commerce Artificial Intelligence during the forecast period 2021-2026.

                                  Artificial Intelligence in Retail Market Challenges

                                  High Cost of AI Solutions

                                  Custom AI solutions cost between $6000 to $300,000. This price includes developments and rollout. Ongoing Ai services like consulting charge less however its usage in different industries such as e-commerce, logistics, retail are higher. Businesses that are limited to in-house skills or unfamiliar with Artificial Intelligence often must outsource where main challenge of the cost comes around. The cost of Artificial Intelligence depends on the type of plan used in different applications. Small and medium-size organization struggles when it comes to adopting AI technologies because of their higher cost. Artificial Intelligence adopters tend to think about these technologies more expansively in order to grow and increase their market share, while companies with less experience focus mostly on reducing cost whereas high digitalized companies invest more in AI and derive greater value from its use. Thus, High cost is set to be a restraining factor for the growth of Retail Artificial Intelligence (AI) during the forecast period 2021-2026.

                                  Artificial Intelligence in Retail Market Landscape

                                  Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Ai in Retail market. Ai in Retail top 10 companies include Amazon Web Service, Microsoft Corporation., Google Inc. (Alphabet Inc.), IBM Corporation, SAP., and others.

                                  Acquisitions/Product Launches

                                  In September 2020, Google LLC recently introduced a raft of new products and capabilities within its cloud portfolio, including several new products and features in Contact Center AI and new versions of Document AI.

                                  In June 2020, Microsoft Corp. acquired Cyber X, Inc. a software company. This acquisition enable Microsoft to accelerate and secure customers’ IoT deployments.

                                  Key Takeaways

                                  By Implementation, Cloud hosting segment is the major segment generating revenue of $916.26m in 2020 and is forecast to generate $6,993m by 2026. This is mainly owing to its agility which helps in upscale and downscale depending upon

                                  By Technology, Machine Learning segment held the major share by generating a revenue of 698.83m in 2020 and is estimated to grow at a CAGR of 40.90% during the forecast period 2021-2026.

                                  Natural Language Processing (NLP) segment is estimated to grow at a fastest CAGR of 42.75% during the forecast period 2021-2026. NLP is gaining popularity owing to its ability of helping machines read, understand and derive meaning from human language.

                                  Related Reports:

                                  A. Artificial Intelligence Market in Small & Medium Business

                                  https://www.industryarc.com/Report/17911/artificial-intelligence-market-in-small-medium-business.html

                                  B. Artificial Intelligence Market In Fintech

                                  https://www.industryarc.com/Report/17915/artificial-intelligence-market-in-fintech.html

                                  For more Information and Communications Technology Market reports, please click here

                                  About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.



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