Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Artificial Intelligence

Artificial Intelligence in Retail Market Worth $19.9 Billion by 2027, Growing at a CAGR of 34.4% From 2020 – Exclusive Report by Meticulous Research®

Published

on

Redding,  California, May 25, 2021 (GLOBE NEWSWIRE) — According to a new market research report 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”, published by Meticulous Research®, the artificial intelligence in retail market is expected to grow at a CAGR of 34.4% from 2020 to reach $19.9 billion by 2027.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=4979  

Artificial intelligence in retail can be defined as the process of gathering and analyzing massive amounts of data that help companies to create personalized shopping experiences for customers via recommendation engines, highly structured web shops, intelligent in-store bots and chatbots. These solutions also assist retailers in supply chain optimization, price optimization, and market forecasting, among others. Implementation of artificial intelligence in retail industry is completely transforming the traditional retail experience and taking it to the next level with automation, personalization, and increased productivity of retail operations.

The growth in this market is driven by factors such as growing awareness about AI and big data & analytics, adoption of multichannel or omnichannel retailing strategy, and need to enhance end-user experience and improve productivity. However, the high cost of procurement, lack of infrastructure and impact of COVID-19 may hinder the growth of this market to a certain extent.

Artificial intelligence in retail market is the in-depth market analysis of artificial intelligence along with its components, product offerings, applications, and deployments across different geographies.

Based on product offering, AI solutions or platforms commanded the largest share of the overall artificial intelligence in retail market in 2020. The large share is attributed to rapid adoption of AI-powered solutions by retailers as it enables them to identify personalized customer needs, provide product recommendations, enhance customer experience, reduce shrinkage by improving loss prevention at point-of-sale, and reduce shoplifting in retail industry. Chatbots commanded the largest share of the overall artificial intelligence solutions market for retail in 2020, and it is expected to grow at a CAGR of 31% during the forecast period of 2020 to 2027.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=4979  

Based on application, predictive merchandising commanded the largest share of the overall artificial intelligence in retail market in 2020. The large share has attributed to the growing demand for better inventory management, need to enhance customer experience, improve customer engagement, and enable data-driven insights about customers.

Based on learning technology, machine learning commanded the largest share of the overall artificial intelligence in retail market in 2020. The large share of this segment is mainly attributed to the increasing use of machine learning technology in customer experience management, customer behavior tracking, predictive merchandising to engage customers, and increasing productivity.

Based on the type, online retail commanded the largest share of the overall artificial intelligence in retail market in 2020. This is mainly driven by the increasing investments in online platforms, growing consumer preference towards online shopping, and need for technological transformation to boost revenue and profitability.

Based on end user, food & groceries commanded the largest share of the overall artificial intelligence in retail market in 2020. This is mainly due to the increasing consumer spending, incorporation of advanced technologies, and need to address consumer demands & enhance consumer experience.

Based on the deployment type, cloud-based AI solutions commanded the largest share of the overall artificial intelligence in retail market in 2020. The large share of this segment is attributed to the decrease in cost of cloud-enabling technology, growing usage of learning analytics, and increasing inclination toward cloud computing to enable cost-cutting.

Quick Buy – AI in Retail Market Research Report: https://www.meticulousresearch.com/Checkout/43552888

Geographically, the global AI in retail market is segmented into North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America, and the Middle East & Africa. North America dominated the global artificial intelligence in retail market, followed by Europe, Asia-Pacific, the Middle East & Africa, and Latin America.

The Asia-Pacific region is expected to grow at the fastest CAGR during the forecast period. Factors such as the presence of high growth economies, growing adoption of AI-based solutions and services among retailers, increasing digitalization in the region, and improving connectivity infrastructure are playing a significant role in the growth of this market in the region. In addition, growing accessibility to IoT-enabled gadgets, growing disposable income, and favourable government initiatives in the region are also supporting the growth of this market in the APAC region.

The global artificial intelligence in retail market is fragmented in nature and is characterized by the presence of several low, mid, and high-level companies competing for the market share. Some of the leading companies operating in the global artificial intelligence in retail market are from the core technology background. These include Amazon.com, Inc. (U.S.), Google LLC (U.S.), Intel Corporation (U.S.), and Microsoft Corporation (U.S.). The leading position of these companies is mainly attributed to their strong brand recognition, diverse product portfolio, strong distribution and sales network, and strong organic and inorganic growth strategies.

The other key players in the global artificial intelligence in retail are IBM Corporation (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), Nvidia Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Salesforce.com, Inc. (U.S.), BloomReach, Inc. (U.S.), and many other local & regional players.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/artificial-intelligence-in-retail-market-4979  

Scope of the Report:

AI in Retail Market, by Product

  • Solutions
    • Chatbot
    • Customer Behavior Tracking
    • Customer Relationship Management (CRM)
    • Inventory Management
    • Price Optimization
    • Recommendation Engines
    • Supply Chain Management
    • Visual Search
  • Services
    • Managed services
    • Professional services

AI in Retail Market, by Application

  • Predictive Merchandising
  • Programmatic Advertising
  • Market Forecasting
  • In-Store Visual Monitoring and Surveillance
  • Location-Based Marketing

AI in Retail Market, by Technology

  • Machine Learning
  • Natural Language Processing (NLP)
  • Computer Vision

Artificial Intelligence in Retail Market, by Type            

  • Online Retail
  • Offline Retail
    • Brick & Mortar Stores
    • Supermarkets& Hypermarkets
    • Specialty Stores

Artificial Intelligence in Retail Market, by End-User                 

  • Food &Groceries
  • Health & Wellness
  • Automotive
  • Electronics & White Goods
  • Fashion& Clothing
  • Others

AI in Retail Market, by Deployment Mode

  • Cloud
  • On-Premises

 AI in Retail Market, by Geography:

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • Latin America
  • Middle East & Africa

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=4979  

Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research

Related Reports:

Retail Analytics Market by Component (Software, Services), Organization Size, Application (Finance Management, Marketing, Price Optimization, Human Resource Management, Operations Management), And Region – Global Forecast to 2027

https://www.meticulousresearch.com/product/retail-analytics-market-5175

E-commerce Market by Business Model, Browsing Medium, Payment Mode (Card Payment, Bank Transfer, Digital Wallet), Offering (Travel, Electronics, Beauty & Fashion, Household, Pharmaceuticals, Food & Beverages), and Region – Global Forecast to 2027

https://www.meticulousresearch.com/product/e-commerce-market-4644

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding, 
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- [email protected] 
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/50/artificial-intelligence-in-retail-market-2027


GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Netcompany secures high-profile digital transformation contract with HM Revenue & Customs (HMRC)

Published

on

netcompany-secures-high-profile-digital-transformation-contract-with-hm-revenue-&-customs-(hmrc)

Netcompany wins one of four new build contracts for HMRC. The European IT services company will focus on modernising core digital customer services for HMRC’s Customer Services Group. The contract term is three years with options for two, one-year extensions. The estimated contract spend is £120–£135m over the course of the 5-year term. 
LONDON, May 13, 2024 /PRNewswire/ — Netcompany has won a significant new build contract for His Majesty’s Revenue and Customs (HMRC). It will provide digital transformation services to HMRC’s Customer Services Group (CSG), including the Customer Compliance Group (CCG). Netcompany was selected following a competitive procurement process. 

“We are proud and honoured to be selected to bring our expertise and knowledge to bear in helping enable HMRC’s digitalisation journey,” says André Rogaczewski, CEO, Netcompany. “Improving citizen experience through responsible digitalisation of public services is a core part of our DNA. Through this partnership, Netcompany looks forward to working with HMRC to help realise their digital transformation aspirations, resulting in both better customer services and value to the taxpayer.” 
The contract Netcompany has been awarded to deliver aims to simplify access and management of citizens’ tax affairs, through one personalised digital account. The contract was won through the first phase of competitions run under Crown Commercial Service’s (CCS) Digital and Legacy Application Services (DALAS) framework, Lot 2a – Large Scale Digital, Integration and Development Services.
About Netcompany
Founded in Denmark in 2000, Netcompany is a fast-growing, multinational company, working across 10 countries, with a team of more than 7,700 skilled professionals, who drive sustainable digitisation, consistently improving outcomes for our customers and citizens. Netcompany provides mission-critical IT solutions for societal and business needs, aiding our clients in their digital evolution towards a more efficient and sustainable future. Netcompany UK has extensive experience of working across the public sector, including NHS England, Ministry of Defence, Home Office, HMRC, Department for Education, Department for Environment, Food & Rural Affairs, as well as extensive private sector experience.
About Crown Commercial Service
Crown Commercial Service (CCS) is an Executive Agency of the Cabinet Office, supporting the public sector to achieve maximum commercial value when procuring common goods and services.
To find out more about CCS, visit: www.crowncommercial.gov.ukFollow us on Twitter: @gov_procurementLinkedIn: www.linkedin.com/company/2827044 
Logo: https://mma.prnewswire.com/media/2410706/Netcompany_Logo.jpg

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/netcompany-secures-high-profile-digital-transformation-contract-with-hm-revenue–customs-hmrc-302143350.html

Continue Reading

Artificial Intelligence

Bulletin from the extraordinary general meeting in SciBase Holding AB (publ)

Published

on

bulletin-from-the-extraordinary-general-meeting-in-scibase-holding-ab-(publ)

STOCKHOLM, May 13, 2024 /PRNewswire/ — Today, an extraordinary general meeting has been held in SciBase Holding AB (publ) (“SciBase” or the “Company”). The general meeting resolved in accordance with the proposals presented in the notice to attend the meeting (which is available on the Company’s website (www.scibase.com)).

Amendment of the articles of association
The general meeting resolved, in accordance with the board of directors’ three proposals, to amend §§ 4-5 of the articles of association, entailing:
that the articles of association shall be amended so that the share capital shall be not less than SEK 10,065,000 and not more than SEK 40,260,000 and that the number of shares shall be not less than 201,300,000 and not more than 805,200,000,that the articles of association shall be amended so that the share capital shall be not less than SEK 10,780,000 and not more than SEK 43,120,000 and that the number of shares shall be not less than 215,600,000 and not more than 862,400,000, andthat the articles of association shall be amended so that the share capital shall be not less than SEK 11,500,000 and not more than SEK 46,000,000 and that the number of shares shall be not less than 230,000,000 and not more than 920,000,000.The general meeting further resolved, in a accordance with the board of directors’ proposal,  to authorize the board of directors to register with the Swedish Companies Registration Office the above resolution to amend the Articles of Association, the limits of which for the minimum and maximum number of shares in the Company are consistent with the total number of shares in the Company after the rights issue announced on 5 April 2024 and the directed issues of units that the board of directors resolved upon on 5 April 2024 (that were conditional upon the subsequent approval of the general meeting).
Directed issues
The general meeting resolved, in accordance with the board of directors’ proposal, to approve the resolution made by the board of directors on 5 April 2024, on a new issue of a maximum of 74,136,510 units to Ribbskottet AB, Per Olof Ejendal AB, Kåre Gilstring, Robert Molander, MLJK Konsult AB, Klintemar Konsult AB, Jesper Hoiland, Fredrik Mattsson, Stefan Hansson, Theodor Invest AB, Ulti AB, Van Herk Investments B.V., Morningside Group AB, Viktor Drvota and Eric Terhaerdt. The subscription price for each unit is SEK 0.42, corresponding to a subscription price of SEK 0.42 per share. Warrants of series TO 2 are issued free of charge. The issue results in an increase in the number of shares in the Company of a maximum of 74,136,510 shares, entailing a maximum increase of the share capital of SEK 3,706,825.50, and a new issue of a maximum of 370,682,550 warrants of series TO 2 entitling to subscription of 370,682,550 shares in the Company, whereby the share capital may increase by an additional maximum of SEK 18,534,127.50 if all issued warrants of series TO 2 are exercised. In total, the share capital may increase by a maximum of SEK 22,240,953.00.
The general meeting further resolved in accordance with the board of directors’ proposal to approve the resolution made by the board of directors on 5 April 2024, on a new issue of a maximum of 3,755,259 units to Matt Leavitt. The subscription price for each unit is SEK 0.42, corresponding to a subscription price of SEK 0.42 per share. Warrants of series TO 2 are issued free of charge. The issue results in an increase in the number of shares in the Company of a maximum of 3 755 259 shares, entailing a maximum increase of the share capital of SEK 187,762.95, and a new issue of a maximum of 18,776,295 warrants of series TO 2 entitling to subscription of 18,776,295 shares in the Company, whereby the share capital may increase by an additional maximum of SEK 938,814.75 if all issued warrants of series TO 2 are exercised. In total, the share capital may increase by a maximum of SEK 1,126,577.70.
For additional information, please contact:Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected] Advisor (CA):Vator SecuritiesTel: +46 8 580 065 99Email: [email protected]
About SciBase:
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The Company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/scibase/r/bulletin-from-the-extraordinary-general-meeting-in-scibase-holding-ab–publ-,c3977529
The following files are available for download:
https://mb.cision.com/Main/12371/3977529/2790414.pdf
SciBase Bulletin EGM
 

View original content:https://www.prnewswire.co.uk/news-releases/bulletin-from-the-extraordinary-general-meeting-in-scibase-holding-ab-publ-302143337.html

Continue Reading

Artificial Intelligence

Experience Abu Dhabi Weixin Mini-Program: Your Gateway to Unforgettable Moments in Abu Dhabi

Published

on

experience-abu-dhabi-weixin-mini-program:-your-gateway-to-unforgettable-moments-in-abu-dhabi

ABU DHABI, UAE, May 13, 2024 /PRNewswire/ — Prepare for a memorable journey with the new Experience Abu Dhabi Weixin mini-program, brought to you by Experience Abu Dhabi, in partnership with Tencent Cloud.

Weixin is commonly known as ‘WeChat’ outside of China serves over a billion of monthly active users in the Chinese mainland. Tailored for Chinese visitors, the Weixin mini-program is packed with compelling features that range from interactive maps to itinerary planners – everything they would need to plan their Abu Dhabi experience at their fingertips.
The program not only provides Chinese visitors with first-hand official travel information but also specifically addresses their digital travel needs, offering map guidance and Chinese audio commentary services during the travel process.
The program also introduces ‘Khalifa’, a welcoming Emirati character who serves as Abu Dhabi’s first digital ambassador for culture and tourism. Khalifa isn’t just a tour guide, he’s your virtual companion, ready to engage in conversation and answer all visitor questions about Abu Dhabi!
Whether you’re looking for thrilling attractions, world-class restaurants or inspiring activities, Khalifa will provide personalised recommendations and insider tips to enhance your experience.
About Tencent Cloud
Tencent Cloud, one of the world’s leading cloud companies, is committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through our extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, Big Data analytics, AI, IoT, and network security. It is our constant mission to meet the needs of industries across the board, including the fields of gaming, media and entertainment, finance, healthcare, property, retail, travel, and transportation.
About the Department of Culture and Tourism – Abu Dhabi:
The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) drives the sustainable growth of Abu Dhabi’s culture and tourism sectors and its creative industries, fuelling economic progress and helping to achieve Abu Dhabi’s wider global ambitions.
By working in partnership with the organisations that define the emirate’s position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the emirate’s potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies and systems to support the culture and tourism industries.
DCT Abu Dhabi’s vision is defined by the emirate’s people, heritage and landscape. We work to enhance Abu Dhabi’s status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives and creative thought.
For more information about the Department of Culture and Tourism – Abu Dhabi and the destination, please visit: dct.gov.ae and visitabudhabi.ae 

View original content:https://www.prnewswire.co.uk/news-releases/experience-abu-dhabi-weixin-mini-program-your-gateway-to-unforgettable-moments-in-abu-dhabi-302143308.html

Continue Reading

Trending