Explore the Marketing Research And Analysis Services Market trends! Covers key players, growth rate 4.2% CAGR, market size $99.44 Billion, and forecasts to 2034. Get insights now!

In 2023, the client sector with the highest share of market research revenue worldwide was media and broadcasting, with 18.5 percent of the total share. Second in the list was consumer non-durables, with 17.3 percent of the share worldwide.

In 2023, the methodology that contributed most to the revenue of market research companies was online/mobile quantitative research with 34 percent of the market share. Second in the list was automated digital/electronic, with 9.6 percent.

In 2023, the region with the highest share of global market research revenue was the United States with over half of the global turnover. Europe, on the other hand, was responsible for one quarter of the global revenue.

The global predictive maintenance market size is expected to reach USD 122.80 Billion by 2032 according to a new study by Polaris Market Research.

According to Cognitive Market Research, the global Artificial Intelligence in Retail market size is USD 4951.2 million in 2023and will expand at a compound annual growth rate (CAGR) of 39.50% from 2023 to 2030.

Enhanced customer personalization to provide viable market output
Demand for online remains higher in Artificial Intelligence in the Retail market.
The machine learning and deep learning category held the highest Artificial Intelligence in Retail market revenue share in 2023.
North American Artificial Intelligence In Retail will continue to lead, whereas the Asia-Pacific Artificial Intelligence In Retail market will experience the most substantial growth until 2030.

Enhanced Customer Personalization to Provide Viable Market Output

A primary driver of Artificial Intelligence in the Retail market is the pursuit of enhanced customer personalization. A.I. algorithms analyze vast datasets of customer behaviors, preferences, and purchase history to deliver highly personalized shopping experiences. Retailers leverage this insight to offer tailored product recommendations, targeted marketing campaigns, and personalized promotions. The drive for superior customer personalization not only enhances customer satisfaction but also increases engagement and boosts sales. This focus on individualized interactions through A.I. applications is a key driver shaping the dynamic landscape of A.I. in the retail market.

January 2023 - Microsoft and digital start-up AiFi worked together to offer Smart Store Analytics. It is a cloud-based tracking solution that helps merchants with operational and shopper insights for intelligent, cashierless stores.

Source-techcrunch.com/2023/01/10/aifi-microsoft-smart-store-analytics/

Improved Operational Efficiency to Propel Market Growth

Another pivotal driver is the quest for improved operational efficiency within the retail sector. A.I. technologies streamline various aspects of retail operations, from inventory management and demand forecasting to supply chain optimization and cashier-less checkout systems. By automating routine tasks and leveraging predictive analytics, retailers can enhance efficiency, reduce costs, and minimize errors. The pursuit of improved operational efficiency is a key motivator for retailers to invest in AI solutions, enabling them to stay competitive, adapt to dynamic market conditions, and meet the evolving demands of modern consumers in the highly competitive artificial intelligence (AI) retail market.

January 2023 - The EY Retail Intelligence solution, which is based on Microsoft Cloud, was introduced by the Fintech business EY to give customers a safe and efficient shopping experience. In order to deliver insightful information, this solution makes use of Microsoft Cloud for Retail and its technologies, which include image recognition, analytics, and artificial intelligence (A.I.).

Source-www.ey.com/en_gl/news/2023/01/ey-announces-launch-of-retail-solution-that-builds-on-the-microsoft-cloud-to-help-achieve-seamless-consumer-shopping-experiences

Market Dynamics of the Artificial Intelligence in the Retail market

Data Security Concerns to Restrict Market Growth

A prominent restraint in Artificial Intelligence in the Retail market is the pervasive concern over data security. As retailers increasingly rely on A.I. to process vast amounts of customer data for personalized experiences, there is a growing apprehension regarding the protection of sensitive information. The potential for data breaches and cyberattacks poses a significant challenge, as retailers must navigate the delicate balance between utilizing customer data for AI-driven initiatives and safeguarding it against potential security threats. Addressing these concerns is crucial to building and maintaining consumer trust in A.I. applications within the retail sector.

Impact of COVID–19 on the Artificial Intelligence in the Retail market

The COVID-19 pandemic significantly influenced artificial intelligence in the retail market, accelerating the adoption of A.I. technologies across the industry. With lockdowns, social distancing measures, and a surge in online shopping, retailers turned to A.I. to navigate the challenges posed by the pandemic. AI-powered solutions played a crucial role in optimizing supply chain management, predicting shifts in consumer behavior, and enhancing e-commerce experiences. Retailers lever...

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Makeup market research is crucial for cosmetics companies to stay ahead of competition by understanding trends, preferences, and behaviours of consumers. By analysing data on sales trends, purchase history, and consumer behaviour, companies can develop a marketing strategy that caters to the needs of their target market. This article explains how makeup market research is essential for companies to stay competitive and meet the needs of their consumers in the ever-changing cosmetics industry.

In 2021, Gartner was the leading company in the market research and data analytics sector in the United States. Roughly 50 million U.S. dollars separated the top two companies, as Nielsen generated a revenue of approximately 2.9 billion U.S. dollars compared to the 2.95 billion U.S. dollars generated by Gartner.

The global digital transformation market was valued at USD 588.05 billion in 2021 and is expected to grow at a CAGR of 23.6% during the forecast period

The global open banking market size is expected to reach USD 128.12 billion by 2030, according to a new study by Polaris Market Research.

The global influencer marketing platform market was valued at USD 10.54 billion in 2023 and is expected to grow at a CAGR of 37.4% during the forecast period.

Witness the rapid growth of the Global Web 3.0 Market, projected at a remarkable 50% CAGR 2023-2028. (Top Companies - Ripple Labs Inc., ConsenSys, Coinbase, Binance, Kraken, BlockFi, Sciencesoft, iTechArt, Appinventiv, Leeway Hetz, and Terra)

The global synthetic data market size is projected to grow from USD 0.4 billion in the current year to USD 19.22 billion by 2035, representing a CAGR of 42.14%, during the forecast period till 2035

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The food packaging market research report estimates the market size to be USD 56.87 bn in 2020-2024. The incremental growth and the accelerate growth momentum present a positive outlook for the market. This will encourage established as well as new vendors to make investments and strengthen their position in the food packaging market.

The food packaging market research report offers several other key information including:

CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will drive food packaging market growth during the next five years
Precise estimation of the food packaging market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the food packaging market industry across APAC, Europe, MEA, North America, and South America
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of food packaging market vendors

Chatbot Market size is valued at around USD 6.9 billion in 2025 and is projected to reach USD 29.87 billion by 2030 with a CAGR of around 21.2%.

The Global Monosodium Glutamate (MSG) Market Report is Segmented by Product Type (Salt and Salt Substitutes, Herb and Seasonings, and Spices), Application (Bakery and Confectionery, Soup, Noodles, and Pasta, Meat and Seafood, Sauces, Salads, and Dressing, Savory Snacks, and Other Applications), and Geography (Spain, The United Kingdom, France, Germany, Russia, Italy, and the Rest of Europe). The Report Offers the Market Sizes and Values (USD) for all the Above Segments.

The global 3D Bioprinting Market size is expected to reach USD 6.53 billion by 2030, according to a new study by Polaris Market Research.

In 2022, the research project type with the highest share of market research spend in the United States was CRM systems/customer satisfaction. Market measurement was second in the rankings, with a 17 percent share.

Global Market Research Tools market size 2025 was XX Million. Market Research Tools Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.