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Artificial Intelligence in Retail Market worth $164.74 billion by 2030- Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Nov. 1, 2024 /PRNewswire/ — The Artificial Intelligence in Retail Market is expected to reach USD 164.74 billion by 2030 from USD 31.12 billion in 2024, at a CAGR of 32.0 % during 2024–2030, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on “Artificial Intelligence in Retail Market”

350 – Tables
  50 – Figures
300 – Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

2019-2030

Base year considered

2023

Forecast period

2024–2030

Forecast units

Value (USD) Billion

Segments Covered

By Offering, Type, Business Function, End-user and Region

Region covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

The major players in the Ai in retail market are Microsoft (US), IBM (US), Google (US), Amazon (US), Oracle (US), Salesforce (US), NVIDIA (US), SAP (Germany), Servicenow (US), Accenture (Ireland), Infosys (India), Alibaba (China), Intel (US), AMD (US), Fujitsu (Japan), Capgemini (France), TCS (India), Talkdesk (US), Symphony AI (US), Bloomreach (US), C3.AI (US), Visenze (Singapore), Pathr.ai (US), Vue.AI (US), Nextail (Spain), Daisy Intelligence (Canada), Cresta (US), Mason (US), Syte(Israel), Trax(Singapore), Feedzai(US) and Shopic(Israel).

AI-powered chatbots and virtual assistants are reshaping customer service by providing quick and efficient responses to inquiries, enabling a 24/7 customer support system without the need for human intervention. These AI solutions handle a wide range of tasks, such as answering common customer questions, guiding users through purchase processes, resolving complaints, and providing personalized product recommendations. Their ability to manage multiple customer interactions reduces operational costs and significantly improves the customer experience by delivering fast and consistent service. As customer expectations evolve towards instant, seamless interactions across various platforms such as websites, mobile apps, and social media, AI chatbots play a critical role in maintaining such engagement. Moreover, advanced natural language processing (NLP) capabilities enable these AI-driven assistants to understand complex queries and provide accurate responses, further enhancing their effectiveness in improving customer satisfaction and loyalty, making them a key driver of AI adoption in retail.

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The Generative AI segment is projected to register the highest CAGR during the forecast period.

Gen Al has revolutionized retail operations by streamlining operations, improving decision-making, and personalizing customer experiences. Retailers are experimenting with Al in many areas of the retail value chain, from image-generation tools to intelligent shopping assistants. Various retailers are now beginning to understand Gen Al’s potential. With the involvement of Gen Al in advertising, Amazon has achieved higher click-through rates in the images generated through its AI image generation tool. Similarly, Lindex’s “Lindex Copilot” assists store employees with personalized advice and guidance, showing the possibilities of improving human abilities with the help of Gen Al.

Online end users are estimated to contribute the largest market share of artificial intelligence in the retail market.

Al is set to reinvent online retail by enhancing customer experience through custom-built, smart inventory and customer support services. Amazon, Alibaba, and Coupang employ Al-based algorithms that allow users to see products related to their past purchase history, preferences, and recent browsing. This recommendation system is likely to boost conversion since it provides customized recommendations to users. The consumer engagement presence in the form of chatbots and virtual assistants provides clients with round-the-clock access to assist them in answering queries, following up on orders, and providing information on products.

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Based on region, Middle East & Africa is projected to register the highest CAGR during the forecast period.

The retail sector in the Middle East is experiencing a notable shift fueled by rapid digital transformation, changing consumer behaviors, and a strong emphasis on omnichannel experiences. This evolution is supported by government initiatives and rising investments to integrate AI into retail operations. Leading nations, such as the UAE, Saudi Arabia, and South Africa, are at the forefront of implementing national AI strategies and enhancing their AI infrastructure. A recent report, the “Digital Experience Intelligence Report 2024,” highlights that 41% of companies in the region are reassessing their AI platforms, showcasing the increasing recognition of AI’s role in delivering personalized customer experiences. Introducing solutions such as eMACH.ai Retail 6DX by Intellect Digital Technology for Commerce signifies a push towards optimizing operations and creating tailored shopping experiences. In collaboration with Intel, Presight is advancing AI initiatives, further driving innovation in the region’s retail landscape.

Top Key Companies in Artificial Intelligence in Retail Market:

The report profiles key players such as Microsoft (US), IBM (US), Google (US), Amazon (US), Oracle (US), Salesforce (US), NVIDIA (US), SAP (Germany), Servicenow (US), Accenture (Ireland), Infosys (India), Alibaba (China), Intel (US), AMD (US), Fujitsu (Japan), Capgemini (France), TCS (India), Talkdesk (US), Symphony AI (US), Bloomreach (US), C3.AI (US), Visenze (Singapore), Pathr.ai (US), Vue.AI (US), Nextail (Spain), Daisy Intelligence (Canada), Cresta (US), Mason (US), Syte (Israel), Trax (Singapore), Feedzai (US) and Shopic (Israel).

Browse Adjacent Markets: Artificial Intelligence (AI) Market Research Reports & Consulting

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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CCBank Launches Quill Bank to Deliver Banking Expertise to Fintechs

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Quill Bank delivers decades of banking expertise directly to fintechs seeking a credible, consistent, and experienced bank.

PLEASANT GROVE, Utah, June 2, 2026 /PRNewswire/ — CCBank is excited to announce the launch of Quill Bank, a distinctive, modern brand designed to serve the fintech banking vertical and bring innovative financial products to market with efficiency and broad appeal. Quill Bank is created specifically to meet the needs of tech-forward financial companies seeking a trusted brand backed by the bank’s regulatory, operational, and relationship-banking expertise.

Quill Bank is designed around the proposition that technology with a human touch ensures the best products and services are delivered to consumers in a safe and compliant manner. The name Quill, a reference to an antique writing instrument, reflects our intention to emphasize thoughtful, relationship-driven banking within a high-tech digital fintech space. The brand’s positioning, “Your fintech, our banking backbone,” also shows our commitment to providing fintech companies with a seasoned, dependable partner standing with them.

“The fintech space is driven by innovation, but innovation without a solid banking backbone can be a liability. Quill Bank exists because the fintechs we work with deserve a brand that reflects the institution standing behind them, one with tested experience, real relationships, and know-how. We’re delivering Quill to be the type of bank that makes fintech programs not just possible but credible,” said Andrew Cusick, CCBank’s Chief Development Officer.

“We’ve always believed that banking done right is built on relationships and reputation. Quill Bank is our way of bringing that philosophy to the fintech sector,” added Mike Watson, CCBank’s Chief Executive Officer. “As we grow and evolve, Quill gives our fintech programs a dedicated identity that speaks their language while drawing on everything we’ve built over the last few decades. We’re thrilled about the future the Quill brand makes possible for us.”

Quill Bank’s launch is effective on June 30, 2026, when the Quill.Bank website will go live. Fintechs interested in learning more about Quill Bank can contact Andrew Cusick at (801) 705-4383 or andrew.cusick@ccbank.com

About CCBank –

Founded in 1993, CCBank is a community-focused financial institution with branch offices located in Salem, Provo, Orem, Pleasant Grove, Sandy, Spanish Fork, and St. George to serve the banking needs of Utah residents and businesses. The bank prides itself on being a longstanding community bank headquartered in Pleasant Grove and focused on Utah communities’ financial and social health through its industry-leading rates, personalized service, financial technology, and quick decisions made at the local level. CCBank is an Equal Housing Lender | Member FDIC. Online: https://ccbank.com.

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SOURCE Capital Community Bank

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Spenn, Norwegian Reward and Strawberry Successfully Go Live on GRAVTY® to Power the Nordics’ Next-Generation Loyalty Ecosystem

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The launch establishes a new benchmark for loyalty ecosystems in the Nordics, connecting millions of members across leading travel, hospitality, and retail brands.

LONDON, June 3, 2026 /PRNewswire/ — Loyalty Juggernaut, creator of GRAVTY®, the world’s leading cloud-native, enterprise growth platform, today announced at the Loyalty Summit EMEA the successful go-live of Spenn, Norwegian Reward, and Strawberry on GRAVTY®, enabling one of the most ambitious loyalty ecosystem initiatives in the Nordics. The milestone underscores GRAVTY®’s position as a leading loyalty platform in Europe’s hospitality, travel, and retail sectors.

Spenn was launched with the ambition of creating a shared loyalty points system designed to make earning and using rewards simpler, more flexible, and more relevant across brands, beginning with Norwegian and Strawberry, and expanding to additional ecosystem partners over time. Together, the programs serve millions of members across the Nordic region and reflect a broader industry shift toward interconnected loyalty ecosystems that create value for both consumers and participating brands.

Built on GRAVTY®, the platform enables real-time loyalty transactions, ecosystem-wide engagement, partner-led innovation, personalized experiences, and scalable growth across multiple brands and industries. The implementation provides the technological foundation required to support the continued expansion of the Spenn ecosystem and its growing network of partners.

“Spenn was created to challenge traditional loyalty models and give customers greater flexibility, simplicity, and value across the brands they engage with every day,” said Christoffer Sundby, CEO of Spenn. “Launching on GRAVTY® gives us a highly scalable technology foundation that enables us to accelerate innovation, expand our ecosystem, and create richer experiences for participating brands’ customers.”

“Our vision has always been to make our loyalty programme as relevant and valuable as possible for our Norwegian Reward members. By modernising our technology platform, we are taking an important step towards providing an even better and more flexible offering. This strengthens the connection between travel and everyday rewards, and gives us the flexibility needed to continue developing the experience with new benefits for the years to come,” said Cecilie Nybø Carlsen, Vice President Products & Customer Experience, Norwegian. 

“Strawberry has consistently focused on creating exceptional guest experiences and building deeper relationships with our members,” said Håvard Hovdahl, VP Spenn & Partnerships, Strawberry. “With GRAVTY® powering our loyalty operations, we are well positioned to expand the possibilities of Spenn and deliver greater value, flexibility, and personalization to our guests across the Nordic region.”

“The launch of Spenn required a platform capable of supporting complex ecosystem dynamics, high transaction volumes, real-time interoperability, and rapid partner onboarding,” said Kristian Kolstad, Chief Product and Technology Officer at Spenn. “GRAVTY® provided the architectural flexibility, scalability, and modern capabilities necessary to bring our vision to life and support our future growth ambitions.”

“We are honored to partner with Spenn, Norwegian Reward, and Strawberry on one of the most innovative loyalty transformations in the industry today,” said Shyam Shah, CEO of Loyalty Juggernaut. “The future of loyalty lies in ecosystems, interoperability, intelligent engagement, and customer-centric value creation. The successful launch of these programs on GRAVTY® demonstrates the power of modern loyalty technology to enable entirely new business models and customer experiences.”

About Loyalty Juggernaut

Headquartered in Palo Alto, California, with subsidiaries in India, the UAE, China, and Canada, Loyalty Juggernaut serves leading brands across 110 countries. Its flagship platform, GRAVTY®, is an award-winning, AI-enabled, patented enterprise growth platform that powers over 80 loyalty programs across airlines, hospitality, retail, financial services, telecommunications, multi-brand business conglomerates, and other industries. Rated a Strong Performer in the Forrester Wave™ for Loyalty Technology Solutions, Q4 2025, GRAVTY® enables organizations to build, manage, scale, and monetize modern loyalty ecosystems while delivering highly personalized customer experiences.

About Spenn Group

Spenn Group is a technology company building and operating a loyalty platform with flexible points, jointly owned by Norwegian Air Shuttle, Strawberry Hotel Group and Reitan Retail. Spenn Group provides shared, flexible points that flow freely across a range of leading consumer brands, including Norwegian, Strawberry Hotels, Uno-X, 7-Eleven, Narvesen, and REMA 1000, enabling cross-brand earn and redemption while preserving each brand’s individual loyalty program. Spenn Group’s founding partners collectively represent over $20 billion in Nordic turnover.

About Norwegian Reward

Norwegian Reward is the loyalty program of Norwegian, a leading Nordic aviation company. The group includes two prominent airlines in the Nordics: Norwegian Air Shuttle (Norwegian) and Widerøe’s Flyveselskap (Widerøe). Members of Norwegian Reward earn benefits when flying with either Norwegian or Widerøe, and also from a growing ecosystem of lifestyle and travel partners. The Norwegian Group operates an extensive network of domestic routes across the Nordic countries, in addition to connecting the region with key destinations all over Europe.

About Strawberry

Strawberry is one of the largest hotel groups in the Nordic countries, operating more than 250 hotels across the Nordics under brands including Clarion, Quality, Comfort, Stopover and Home Hotels, in addition to a portfolio of independent brands. Strawberry’s loyalty program rewards members for stays, dining, and experiences across its portfolio, with a vision to build lasting relationships that extend far beyond the hotel stay.

Media Contact:

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#FFP #TravelLoyalty #LoyaltyEcosystems #CustomerLoyalty #Spenn #LoyaltyJuggernaut #GRAVTY

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BlockBooster Digital Venture Fund I Invests $10 Million as Anchor Investor in SignalPlus’ $50 Million Series B1 Round

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ROAD TOWN, British Virgin Islands, June 3, 2026 /PRNewswire/ — BlockBooster, a full-stack alternative asset management firm, announced today that its Digital Venture Fund I invested $10 million in SignalPlus, an institutional-grade crypto derivatives infrastructure platform, anchoring the company’s $50 million Series B1 financing round, with Goldman Sachs serving as sole financial advisor.

SignalPlus operates the industry’s leading trading terminal for institutional digital asset options and derivatives, trusted by the largest market makers, exchanges, and trading institutions worldwide. The company is now extending its institutional-grade infrastructure into traditional finance and preparing to launch SignalPlus 2.0, a platform upgrade that brings agentic AI into the trading workflow.

“This investment reflects our conviction that institutional capital will flow into digital assets through credible, institutional-grade infrastructure,” said Samuel Gu, Founder and CEO of BlockBooster. “SignalPlus is one of the most established teams in digital asset derivatives, and we are excited to support their next stage of growth.”

The investment in SignalPlus is aligned with BlockBooster’s strategy of backing category-defining infrastructure at the intersection of AI and digital asset markets, with a focus on trading, asset management, and tokenization primitives that can scale across both crypto-native and traditional financial institutions.

“SignalPlus has built the leading institutional infrastructure for digital asset derivatives, and we are now expanding globally and into traditional finance. We’re pleased to welcome BlockBooster, a full-stack alternative asset manager with deep institutional reach and expertise across tokenization and on-chain finance, and we look forward to working closely as we enter our next phase,” said Chris Yu, Co-Founder and CEO of SignalPlus.

BlockBooster is investing from its first fund, a $50 million Digital Venture Fund I focused on four core verticals: AI infrastructure, on-chain trading ecosystems, on-chain asset management, and real-world asset (RWA) tokenization.

About BlockBooster

BlockBooster is a next-era alternative asset management firm for the digital age. The firm leverages blockchain technology to invest in, incubate, and manage the core assets of this new era, from Web3-native projects to real-world assets (RWA). As value co-creators, BlockBooster is dedicated to unlocking the long-term potential of these assets, capturing exceptional value for its partners and investors in the digital economy.

About SignalPlus

Headquartered in Hong Kong, SignalPlus builds institutional-grade derivatives trading infrastructure for the converging capital markets. Its platform provides professional options analytics, real-time risk management, and execution tools to hedge funds, market makers, proprietary trading desks, and asset managers across digital and traditional financial markets. The company partners with the industry’s leading exchanges and trading institutions, and is backed by HashKey Capital, AppWorks, Tencent, and other prominent technology and financial investors.

 

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