The Business Research Company’s report on the Edge Artificial Intelligence (AI) In Retail Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the edge artificial intelligence (ai) in retail market in recent years?
The increasing number of connected devices is expected to propel the growth of the edge artificial intelligence (AI) in retail market going forward. Connected devices are electronic devices that communicate with each other or a central system over a network, typically the internet, to share data and perform tasks remotely. The increasing number of connected devices is due to the growing adoption of Internet of Things (IoT) technologies, as businesses and consumers integrate smart devices to enhance efficiency, automation, and real-time data exchange across various applications. Edge artificial intelligence (AI) in retail enhances the performance of connected devices by enabling real-time data processing and decision-making directly at the device level, reducing latency and improving operational efficiency. For instance, in April 2024, according to ConsumerAffairs, a US-based customer review and consumer news platform that provides information for purchasing decisions around significant life changes or milestones, the average number of connected devices in US households increased from 21 in 2022 to 25 in 2023. Therefore, the increasing number of connected devices is driving the growth of edge artificial intelligence (AI) in retail market.
Access Your Free Sample of the Global Edge Artificial Intelligence (AI) In Retail Market Report – Get Insights Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=23384&type=smp
What is the projected market size of the edge artificial intelligence (ai) in retail industry, and how is it expected to grow?
The edge artificial intelligence (AI) in retail market size has grown exponentially in recent years. It will grow from $16.76 billion in 2024 to $21.99 billion in 2025 at a compound annual growth rate (CAGR) of 31.2%. The growth in the historic period can be attributed to increasing adoption of IoT devices, rising demand for real-time analytics, rise in AI-powered customer engagement, increase in autonomous store concepts, and increasing need for supply chain optimization.
The edge artificial intelligence (AI) in retail market size is expected to see exponential growth in the next few years. It will grow to $64.29 billion in 2029 at a compound annual growth rate (CAGR) of 30.8%. The growth in the forecast period can be attributed to increasing deployment of 5 G networks, rising focus on personalized shopping experiences, rise in computer vision applications, increase in demand for AI-driven inventory management, and increasing integration of edge AI with robotics. Major trends in the forecast period include advancement in edge computing capabilities, advanced AI-driven checkout solutions, development of smart shelves and pricing systems, innovations in real-time customer behavior analysis, and advanced integration of edge AI with AR/VR.
Gain Exclusive Market Insights—Customize Your Research Report Today For Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=23384&type=smp
Who are the key players driving competition in the edge artificial intelligence (ai) in retail market?
Major companies operating in the edge artificial intelligence (AI) in retail market are Samsung Electronics Co. Ltd., Microsoft Corporation, Alibaba Group Holding Limited, Amazon Web Services Inc., Intel Corporation, Panasonic Holdings Corporation, IBM Corporation, Cisco Systems Inc., Oracle Corporation, Qualcomm Incorporated, Honeywell International Inc., SAP SE, Hewlett Packard Enterprise Company, NVIDIA Corporation, Advanced Micro Devices Inc. (AMD), Zebra Technologies Corporation, SoundHound AI Inc., Mashgin Inc., Syntiant Corp., ClearBlade Inc.
What are the major trends in the edge artificial intelligence (ai) in retail market?
Major companies operating in the edge artificial intelligence (AI) in retail market are focusing on integrating innovative technologies such as advanced on-device AI processing to enhance real-time decision-making, improve customer experience. Advanced on-device AI processing refers to the ability of smart devices to perform complex artificial intelligence computations locally without relying on cloud connectivity. It helps retail businesses by directly enabling real-time customer behavior analysis, personalized recommendations, and inventory tracking at the store level, resulting in faster service and improved customer experience. For instance, in September 2024, IndoAI Technologies Pvt. Ltd., an India-based software company, launched the IndoAI Edge AI Camera, integrated with its pioneering Appization platform. The next-generation smart camera is designed for real-time AI processing at the edge. It enables instant analytics and decision-making without relying on cloud infrastructure. The camera is ideal for security, retail, healthcare, and industrial automation industries. It ensures low latency, reduced bandwidth usage, and strong data privacy.
Which key geographies are driving the growth of the edge artificial intelligence (ai) in retail market?
North America was the largest region in the edge artificial intelligence (AI) in retail market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the edge artificial intelligence (AI) in retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Order Your Report Now For Swift Delivery
What are the key segments driving growth in the edge artificial intelligence (ai) in retail market?
The edge artificial intelligence (AI) in retail market covered in this report is segmented –
1) By Component: Solution, Service
2) By Technology: Machine Learning, Natural Language Processing, Chatbots, Image And Video Analytics, Swarm Intelligence
3) By Application: Customer Relationship Management (CRM), Supply Chain And Logistics, Inventory Management, Product Optimization, In-Store Navigation, Payment And Pricing Analytics, Virtual Assistant, Other Applications
4) By Sales Channel: Brick And Mortar, Omnichannel, Pure-Play Online Retailers
Subsegments:
1) By Solution: Hardware, Software, Platform
2) By Service: Professional Services, Managed Services
Purchase The Exclusive Report Now To Unlock Valuable Market Insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=23384
How is the edge artificial intelligence (ai) in retail market defined, and what are its core characteristics?
Edge artificial intelligence (AI) in retail refers to deploying AI technologies directly on local devices within retail environments, allowing for real-time data processing and analysis at the network’s edge. This approach enhances operational efficiency, enables instant decision-making, and supports personalized customer experiences without relying on cloud connectivity.
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
https://thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
