The Asia Pacific AI In Retail Market would witness market growth of 25.2% CAGR during the forecast period (2022-2028).
Customers could worry about catching pathogens from point-of-sale devices. Accurately identifying the items in a customer's cart is made feasible by computer vision. Additionally, real-time, audience-relevant advertising can be served out on digital signage that has computer vision built in it to track user engagement.
AI increases opportunities for experience personalization across the retail edge and the cloud. A POS system records information about what was bought, which is then utilized to provide fresh product suggestions for a specific customer. Digital signage gathers information on the types of shoppers and the times they shop so that merchandising can choose the best times to promote products.
All of this results in more precise segmentation and customized consumer experiences based on their behaviors and preferences. For retailers, keeping a precise inventory is a huge concern. Retailers can improve inventory management by gaining a comprehensive understanding of their stores, customers, and products by connecting more components of their processes and implementing AI.
Due to the expansion of digitalization, the Asia Pacific region will experience substantial growth in the coming years. The retail sector is now undergoing transition, which is anticipated to increase demand for cutting-edge technology in the coming years in order to enhance customer experience and operational efficiency in Artificial Intelligence in Retail Market. Due to a rise in the demand for automation technologies to enhance operations and decision-making capacity, the adoption of this technology is anticipated to rise substantially in India.
The China market dominated the Asia Pacific AI In Retail Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,984.6 million by 2028. The Japan market is estimated to grow a CAGR of 24.5% during (2022 - 2028). Additionally, The India market would experience a CAGR of 26% during (2022 - 2028).
Based on Technology, the market is segmented into Machine Learning, Natural Language Processing, Chatbots, Image & Video Analytics, and Swarm Intelligence. Based on Sales Channel, the market is segmented into Omnichannel, Brick & Mortar, and Pure-play Online Retailers. Based on Component, the market is segmented into Solution and Services. Based on Application, the market is segmented into Customer Relationship Management (CRM), Supply Chain & Logistics, Inventory Management, Product Optimization, In-Store Navigation, Payment & Pricing Analytics, and Virtual Assistant. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide AI In Retail Market is Projected to reach USD 24.1 Billion by 2028, at a CAGR of 24.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Intel Corporation, Salesforce.com, Inc., NVIDIA Corporation, Amazon Web Services, Inc. (Amazon.com, Inc.), Google LLC, IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, and ViSenze Pte Ltd.
By Technology
By Sales Channel
By Component
By Application
By Country
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