The artificial intelligence in e-commerce market size is expected to see rapid growth in the next few years. It will grow to $14.07 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%. The growth in the forecast period can be attributed to increasing focus on customer data analytics, increasing investments in the ai in e-commerce, growing demand for ai-powered product recommendations, increasing use of ai in supply chain management, increasing use of ai in fraud detection. Major trends in the forecast period include technological advancements in ai, voice commerce expansion, supply chain optimization, ai-enhanced customer support, conversational e-commerce.
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Scope Of Artificial Intelligence In E-commerce Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Artificial Intelligence In E-commerce Market Overview
Market Drivers –
The spike in online shopping is expected to propel the growth of artificial intelligence in the e-commerce market going forward. Online shopping refers to buying goods or services from a seller over the Internet using a web browser or a mobile app. Artificial intelligence in e-commerce is used in online shopping to enhance the customer experience and streamline business processes for pricing optimization and inventory management. For instance, in June 2023, according to the Adobe Digital Economy Index published by Adobe, a US-based software company, there were 40% online retail sales in the US for the first quarter of 2021, up from 36% in the same period of 2020. Therefore, the spike in online shopping is driving the growth of artificial intelligence in the e-commerce market.
Market Trends –
Major companies operating in artificial intelligence in the e-commerce market are developing new technologies, such as generative AI e-commerce SaaS to sustain their position in the market. Generative AI technology in e-commerce SaaS platforms allows users to experience personalized, automated inventory control, and innovative product discovery. For instance, in May 2023, Hype, an India-based e-commerce company, launched a generative AI e-commerce software-as-a-service (SaaS) platform. This platform aims to revolutionize online e-commerce by enabling merchants to create, optimize and manage online stores. This platform uses an advanced artificial intelligence and machine learning framework that continually learns and adapts to each store’s unique data patterns.
The artificial intelligence in e-commerce market covered in this report is segmented –
1) By Technology: Natural language processing (NLP); Deep Learning; Machine Learning
2) By Deployment: Cloud; On-Premise
3) By Application: Customer Relationship Management; Supply Chain Analysis; Fake Review Analysis; Warehouse Automation; Merchandizing; Product Recommendation; Customer Service; Other Applications
4) By End User: Information Technology(IT) And Telecommunication; Retail And E-Commerce; Banking, Financial Services and Insurance (BFSI); Healthcare; Manufacturing; Automotive; Other End User
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Regional Insights –
North America was the largest region in the artificial intelligence in e-commerce market in 2023. The regions covered in artificial intelligence in the e-commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major players in the artificial intelligence in e-commerce market are Apple Inc., Google LLC, Microsoft Corporation, Amazon Web Services Inc., Siemens AG, Intel Corporation, The International Business Machines Corporation, Oracle Corporation, SAP SE, Nvidia Corporation, Sentient Technologies, Bloomreach, Aidaptive, Coveo, Dynamic Yield, Persado, Emarsys eMarketing Systems, Syte, Bluecore, Twiggle, Kindred AI, ViSenze, Gorgias, Layer 6 Inc., Nauto.
Table of Contents
1. Executive Summary
2. Artificial Intelligence In E-commerce Market Report Structure
3. Artificial Intelligence In E-commerce Market Trends And Strategies
4. Artificial Intelligence In E-commerce Market – Macro Economic Scenario
5. Artificial Intelligence In E-commerce Market Size And Growth
…..
27. Artificial Intelligence In E-commerce Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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