Global AI in Retail Market is Set to Reach USD 6.4 billion by 2030, Observing a CAGR of 36.5% during 2025 - 2030

Published Date: Jan, 2024

The global AI in retail market is expected to grow at a CAGR of 36.5% during the forecast period with its market size predicted to reach USD 6.4 billion by 2030. The Increasing e-retail industry, growing investments by retail companies in AI technology, and growing mobile internet penetration are the major factors leading to the high demand for AI in the retail market.

The solution category accounted for the largest revenue share in the AI in retail market

Based on offering, the global AI in the retail market is categorized into solution and service, wherein the solution category accounted for a larger share in 2020. The category is expected to lead throughout the forecast period owing to the mounting adoption of AI technology by e-commerce companies.

The solution category is further sub-segmented into the chatbot, CRM, price optimization, recommendation engine, SCM, visual search, and others. 

The service category is further sub-categorized into managed and professional.

Based on technology, the global AI in the retail market is segmented into machine learning, NLP, computer vision, and others. Among these categories, the machine learning category accounted for the largest share in 2018, and also it is expected to witness the fastest growth in the market during the forecast period. Companies in the retail business are utilizing machine learning solutions to offer an increasingly customized involvement to the end clients just as to give an intelligent domain to them. Besides, the developing pattern of rising technology adoption can be related to the requirement for streamlining retail tasks, limiting endeavors, and expanding income for the most part for web-based business retailers.

Global AI in Retail Market Segmentation and Key Players

Segment / Key Players



Solution [Chatbot, CRM, SCM, Price Optimization, Recommendation Engine, Visual Search, Others], Service [Managed, Professional]


Machine Learning, NLP, Computer Vision, Others

Key Players

Infosys Limited, Intel Corporation, Amazon Web Services Inc., ViSenze Pte. Ltd., Evolv Technologies Inc., Numenta Inc., SAP SE, Accenture PLC, Microsoft Corporation, Google LLC, Inc., Oracle Corporation, and IBM Corporation

Browse Market Insight and In-depth TOC on "Global AI in Retail Market – Analysis and Forecast (2025-2030)"

Geography Insight

Geographically, North America is the largest AI in the retail market owing to the presence of several developed economies, such as the United States and Canada, concentrating on improving the current arrangements in the retail space. North America has the essential AI solution suppliers and is an early adopter of AI solutions. Numerous US-based organizations like IBM Corporation, Amazon Web Services, Microsoft Corporation, Google Inc., NVIDIA Corporation, Intel Corporation, Salesforce, and Sentient Technologies are widely including themselves in product advancement and enhancement.

Competitive Insight

The increasing adoption of IoT, Big Data analytics, and online business promotion gives rewarding chances to AI in the retail market. AI in the retail market is fragmented in nature. In general, the focused competition among existing players is high. Market players in the global AI retail industry are majorly focusing on mergers & acquisitions, product launches, and partnerships to expand their market share.

Some of the key players operating in the global AI in the retail market are Industrial and Financial Systems (IFS) AB, Infor Inc., Ramco Systems Limited, Bentley Systems Incorporated, Rockwell Automation Inc., SAP SE, ABB Ltd., International Business Machines (IBM) Corporation, Schneider Electric SE, MRI Software LLC, CGI Group Inc., and AssetWorks LLC.

Key Takeaway from the Report:

  • The solution category holds the largest share of the market
  • Of all the solution types, the highest growth in the demand for the recommendation engine category has been observed over the last five years which is anticipated to remain the highest among all solution types during the forecast period.
  • The machine learning category accounted for the largest share in 2018, and also it is expected to witness the fastest growth in the market during the forecast period, owing to the increasing adoption of machine learning solutions by e-commerce companies
  • Major players are actively focusing on mergers & acquisitions, product launches, and partnerships to expand their market share
  • Some of the major companies involved in the above-stated activities in the market are Microsoft Corporation, Kroger Co., and Oracle Corporation.

The Report Offers:

  • Historical market estimate for the years 2018–2023 and forecast for the years 2025–2030
  • Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
  • Market insights by in-depth segmentation with industry dynamics.
  • Competitive analysis and benchmarking of the industry leaders and their product offerings
  • Profiles of leading players and innovators, their financial overview, and product portfolio
  • Analysis of key industry trends and recent developments
  • Value chain analysis and distribution channel analysis with opportunity assessment
  • Market share analysis of major players

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The report provides the market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue (USD Billion). The report segments the global AI in the retail market based on offering, technology, and region.

Global AI in Retail Market Coverage
Offering Insight and Forecast 2025-2030

  • Solution
    • Chatbot
    • Customer Relationship Management (CRM)
    • Supply Chain Management (SCM)
    • Price Optimization
    • Recommendation Engine
    • Visual Search
    • Others
  • Service
    • Managed
    • Professional

Technology Insight and Forecast 2025-2030

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

Geographical Segmentation

AI in Retail Market by Region

North America

  • By Offering
  • By Technology
  • By Country – U.S., Canada, and Mexico


  • By Offering
  • By Technology
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Offering
  • By Technology
  • By Country – China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Offering
  • By Technology
  • By Country – Brazil, Saudi Arabia, South Africa, Turkey, and Other Countries