Artificial intelligence (AI) is rapidly transforming the retail industry, with retailers across the globe adopting AI-powered solutions to improve customer experience, optimize operations, and gain a competitive edge.

The global artificial intelligence (AI) in retail market is estimated to grow from USD 5.79 billion in 2022 to USD 20.46 billion by 2028 at a CAGR of 23.20% during the forecast period.

The regional growth of AI in retail market is being driven by a number of factors, including:

• The increasing adoption of online shopping: Online shopping is growing rapidly, and AI is being used to improve the online shopping experience. For example, AI can be used to recommend products, personalize pricing, and provide customer support.
• The growing demand for personalized customer experiences: Customers are increasingly demanding personalized experiences, and AI can be used to deliver these experiences. For example, AI can be used to track customer preferences and recommend products that are relevant to each customer.
• The need to improve operational efficiency: Retailers are under pressure to improve operational efficiency, and AI can be used to automate tasks, optimize supply chains, and reduce costs.
• The need to combat fraud: Retailers are facing increasing challenges from fraudsters, and AI can be used to detect and prevent fraud.

The regional growth of AI in retail market is uneven, with some regions ahead of others in terms of adoption.

North America is the leading region in terms of AI in retail market, followed by Europe and Asia Pacific. North America is home to some of the world's largest retailers, who are investing heavily in AI to improve their operations and customer experience. Europe is also a major adopter of AI in retail, with many retailers using AI to improve their supply chains and customer service. Asia Pacific is the fastest-growing region in terms of AI in retail market, with many retailers in China and India investing in AI to compete with global players.

The following are some of the key trends in the regional growth of AI in retail market:

• North America: North America is the leading region in terms of AI in retail market, and is expected to continue to grow at a rapid pace. The increasing adoption of online shopping, the growing demand for personalized customer experiences, and the need to improve operational efficiency are driving the growth of AI in retail market in North America.
• Europe: Europe is another major adopter of AI in retail market, and is expected to grow at a steady pace in the coming years. The increasing adoption of online shopping, the growing demand for personalized customer experiences, and the need to combat fraud are driving the growth of AI in retail market in Europe.
• Asia Pacific: Asia Pacific is the fastest-growing region in terms of AI in retail market, and is expected to see significant growth in the coming years. The growing middle class, the increasing adoption of online shopping, and the need to improve operational efficiency are driving the growth of AI in retail market in Asia Pacific.

The regional growth of AI in retail market is creating new opportunities for businesses and startups. Retailers who are able to adopt AI-powered solutions will be well-positioned to compete in the global retail market.