Retail Market Upgrading with AI Technology
Digital transformation in retail industry and increasing focus on enhancing customer experience are the major factors driving AI in retail market. The market growth is buoyed by increased adoption of AI by retailers to provide enhanced customer experience, and to offer them a personalized shopping experience. Additionally, growing e-commerce and mobile shopping intensified competition among retailers leading to investments in digital technologies particularly AI. Moreover, the emergence of various start-ups in the retail-space proliferated the demand for AI in retail. AI is quickly gaining adoption among retailers in the market, predominantly due to the seismic shift in shopping patterns of customers and their preferences, as well as growth of e-commerce industry. APAC is expected to register fastest growth in AI in retail market, during the forecast period. This can be attributed to disrupting e-commerce industry in the region. Moreover, increasing investments by the Chinese tech...