ICT Industry Reports

Increasing expenditure capacity of consumers and growing demand for personalized shopping experience is expected to drive the demand for global cognitive computing in retail market in the forecast period. According to TechSci Research report,  “ Global Cognitive Computing in Retail Market  By Component (Platform, Services (Managed, Professional)) By Technology (Machine Learning, Natural Language Processing, Deep Learning, Robotics, Computer / Machine Vision) By Deployment (Cloud, On-Premises) By Application (Customer Experience, Price Optimization, Demand Forecasting, Inventory Management, Automation, Others) By Company, By Region, Forecast & Opportunities, 2026” , the global cognitive computing in the retail market is expected to witness steady growth in the next five years. Cognitive computing is defined as self-learning technology that takes the help of algorithms to behave like the human brain's thought process to efficiently utilize big data. e-Commerce channels integ...

According To TechSci Research,  Global cognitive computing in retail market is expected to grow at a significant rate in the forecast period. Cognitive computing analyzes a massive amount of data with accuracy. It can understand the natural language, images, recognize patterns, amongst others to provide an enhanced shopping experience to consumers and help the organization to make smart decisions. Change in the consumer preference to buy through online channels has impacted the operation of the retail industry. Development of interactive platforms along with the lucrative discounts offered by the market players to attract customers is accelerating the online sales channel market growth. Ongoing research and development activities for technological advancements of cloud computing technology to increase the efficiency of the system are expected to fuel the market growth in the next five years. The rise in the expenditure capacity of the consumer is increasing the sales of smart devi...