GCC AI in Retail and E-Commerce Market : Key Players, Growth, Analysis 2021 to 2027

 Infinium Global Research’s recent report on the “GCC AI in Retail and E-Commerce Market (By Solution – Customer Insights and Relationship Management, Personalized Product Recommendation, Price Optimization, Supply Chain Management And Demand Planning, Intelligent Virtual Assistant, Visual Search, Payments, and Others; By Application – Sales and Merchandise Planning, Reduced Fraud and Shrinkage, Logistics and Delivery, Trade Promotions Management, and Others; By End-user - Brick & Mortar Stores and E-commerce Stores): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027” provides a comprehensive outline of the factors responsible for the growth of the market. The GCC AI in retail and e-commerce market was valued at USD 409.11 million in 2021 and is anticipated to reach USD 3182.86 million in 2027.

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"We are Now Including the Impact Analysis of COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2023-2030." 

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Artificial intelligence is an approach to building computer programs that purpose to perform tasks that would need human intelligence. AI is a study of how the human brain thinks, learns, decides, and works to solve difficulties. Furthermore, AI is a combination of numerous technologies such as machine learning and deep learning leading to the creation of intelligent hardware and software that is proficient in problem-solving, reasoning, perception, linguistic intelligence, and learning. It is also reforming economies, enhancing productivity, improving efficiency, and lowering costs by creating an intangible change in virtually every segment of the technology industry.

The COVID-19 pandemic situation impacted the operations of physical retailers, service providers, and the mobility of customers. All this facilitated the growth of digital commerce across the GCC region. The UAE, being the regional leader in digital connectivity, was better positioned than other markets. Nevertheless, rapid digital adoption and the developing nature of young tech-savvy populations across the region are driving digital adoption by retailers. The COVID-19 outbreak has accelerated this trend notably, with numerous retailers opting to invest heavily in online platforms to remain relevant and recoup any losses experienced in brick-and-mortar stores.

The Personalized Product Recommendation Segment is Expected to Account for the Highest Market Share During the Forecast Period

Personalized product recommendations will be the growing area for AI in the retail and e-commerce sector. The advancement in Big Data analytics will drive the increasing adoption of artificial-enabled devices and services across different industrial areas and verticals. There is a range of different technologies engaged in AI and Big Data, comprising machine learning, natural language processing, deep learning, and more for automated machine-driven decisions. As stated by the Consumer Technology Association, AI has different benefits in the retail industry like cost-saving, augmented productivity, faster resolution of business problems, faster delivery of new products and services, and increase in innovation which is quickly making its way into many advanced solutions, containing autonomous vehicles, smart bots, and advanced predictive analytics, in the retail space. This factor is anticipated to improve customer analytics and behavior experience raising the significance of product optimization.

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The UAE AI in Retail and E-Commerce Market is Projected to Grow at the Highest CAGR During the Forecast Period

Geographically, UAE generated the largest revenue in the AI in retail and e-Commerce market in 2020 and is anticipated to continue its dominance over the projection years. Looking at future trends, the UAE is projected to be one of the fastest-growing countries in the GCC region in terms of e-commerce value sales, supported by growth in consumer electronics, apparel, and footwear. In addition, the increasing adoption of new technologies, such as artificial intelligence and virtual sessions using VR technology, has the ability to engage customer interest, allowing for greater interaction with brands. Easy to-use apps and websites could further support sales going forward. Digital-savvy consumers and consumer readiness in the GCC region support further growth of e-commerce going forward.

Companies Operating in GCC AI in Retail and E-Commerce Market are Adopting Numerous Key Business Strategies

GCC AI in the retail and e-commerce market is fragmented in nature. The growing adoption of IoT, Big Data analytics, and e-commerce marketing delivers profitable opportunities for AI in the retail and e-commerce market. Generally, the competitive rivalry among existing competitors is high. Moving forward, acquisitions and collaborations of large companies with start-ups are anticipated, which are focused on innovation. For instance, in October 2020, SAP SE announced that it is expanding its cloud solutions portfolio, initially launched in June 2020, to the retail business. The company builds and runs portfolio applications on its open cloud platform, using AI and advanced analytics to support enhanced user experiences and digitalization and automation of operations. SAP and its partners would provide solutions for the core business of retailers, like machine learning algorithms, to uncover formerly undetected consumer needs and create more relevant personalized offers.

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Reasons to Buy this Report:

=> Comprehensive analysis of regional markets of the GCC ai in retail and e-commerce.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and market size forecast up to 2027.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company. 

 => Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.