Global Artificial Intelligence in Retail Markets, 2020-2027

Dublin, July 29, 2020 (GLOBE NEWSWIRE) — The “Artificial Intelligence in Retail Market by Product, Application (Predictive Merchandizing, Programmatic Advertising), Technology (Machine Learning, Natural Language Processing), Deployment (Cloud, On-Premises), and Geography – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global artificial intelligence in retail market is expected to grow at a CAGR of 34.4% from 2020 to reach $19.9 billion by 2027.The growth in the artificial intelligence in retail market is driven by several factors such as the rising number of internet users, increasing adoption of smart devices, rapid adoption of advances in technology across retail chain, and increasing adoption of the multi-channel or omnichannel retailing strategy.Besides, the factors such as increasing awareness about AI and big data & analytics, consistent proliferation of Internet of Things, and enhanced end-user experience is also contributing to the market growth. However, the high cost of transformation and lack of infrastructure are some of the major factors hindering the market growth during the forecast period.Key Topics Covered
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