AI in the Indian Retail and E-Commerce Market Report 2023: 28% Compound Annual Growth Forecast Between 2023 and 2028

DUBLIN, Dec. 1, 2023 /PRNewswire/ -- The "Artificial Intelligence in Retail and E-Commerce Market in India 2023 - 2028" report has been added to ResearchAndMarkets.com's offering.

The Indian artificial intelligence (AI) market in retail and e-commerce reached a value of INR 3,305.97 million in 2022 and is anticipated to grow to INR 16,929.87 million by 2028, exhibiting a compounded annual growth rate (CAGR) of 28.78% from 2023 to 2028.

The increasing adoption of big data analytics and AI in the retail industry is driven by technological advancements, higher application and smart device penetration, widespread adoption of cloud services, and the proliferation of the Internet of Things (IoT). AI is playing a pivotal role in accelerating decision-making processes in product management, marketing, e-commerce, and various business sectors by bridging the gap between insights and implementation.

Market Drivers:

Artificial intelligence plays a pivotal role in enhancing the overall customer experience in the retail and e-commerce sectors. Through AI-powered algorithms, businesses can analyze extensive amounts of customer data, encompassing purchase history, preferences, browsing behavior, and interactions.

This predictive capability of AI aids in anticipating demand trends, leading to improved inventory management, demand forecasting, and optimization of supply chain logistics. In a fiercely competitive market, the adoption of AI offers a strategic advantage. Retailers and e-commerce platforms leveraging AI technologies stay at the forefront by providing innovative solutions and services that attract customers and elevate brand perception.

Market Challenges:

Several retailers encounter concerns related to the quality of their data, including issues of incompleteness, inconsistency, and errors. Additionally, data may be dispersed across various platforms or stored in silos, complicating its accessibility and integration for AI applications.

Successful implementation of AI in retail necessitates a trained workforce proficient in AI technologies, data science, machine learning, and related fields. However, the job market faces a shortage of professionals possessing these specialized skills. AI systems often require extensive data, including personally identifiable information about clients, raising concerns about data collection, storage, and usage.

Key Topics Covered:

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction
3.1. Market definition and structure
3.2. Retail Industry in India
3.3. Major stockholders
3.4. E-commerce Platforms Overview

Chapter 4: Market Overview
4.1. Artificial Intelligence in Retail and E-commerce Market Overview
4.1.1. Market size and growth forecast based on value (2020-2028e)

Chapter 5: Market Trends

Chapter 6: Impact of COVID-19

Chapter 7: Market Influencers

Chapter 8: Case Studies
8.1. Case study - Amazon India Limited
8.2. Case study - Flipkart Internet Private Limited
8.3. Case study - Zomato Limited
8.4. Case study - Bundl Technologies Private Limited

Chapter 9: Competitive Landscape

• Infosys Limited
• Tata Consultancy Services Limited
• Wipro Limited
• Adobe Systems India Private Limited
• Akamai Technologies India Private Limited
• Amazon Internet Services Private Limited
• Cloudflare, Inc.
• Google India Private Limited
• IBM India Private Limited
• Microsoft Corporation India Private Limited

For more information about this report visit https://www.researchandmarkets.com/r/s18qf2

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SOURCE Research and Markets