In 2019, the scale of AI + retail market reached 650 million yuan (US$95 million) in China. With the continuous improvement of AI solution capability and increasing demand, it is estimated that the market will reach 2.67 billion yuan (US$390 million) by 2022, and CAGR will reach 44.6% in 2018-2022.
The main reason for the decline in the growth rate of the market scale in 2020 is that the demand enterprises are relatively cautious about the purchase of technical services due to the impact of COVID-19 epidemic; then, with the economic recovery after the epidemic, the boost of market confidence and the development of technology application, the growth rate rose.
As Alibaba, Jingdong, Pinduoduo and other retail giants use AI technology in their own research, the R&D investment estimate of AI + retail exceeds the estimation of the market revenue scale.
In 2019, the investment of retail enterprises in AI technology will reach 1.48 billion yuan, which is expected to reach...
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