The AI-Enabled E-Commerce Solutions Market Size is valued at USD 6.01 Billion in 2023 and is predicted to reach USD 19.89 Billion by the year 2031 at a 16.2% CAGR during the forecast period for 2024-2031.
In the recent years, Machine learning and artificial intelligence technologies are creating complex software development processes easy. Machine learning technology allows software applications to function more accurately in terms of predictive analysis. The recent Covid-19 outbreak has significantly impacted the AI-enabled E-Commerce solutions market as it has created the need for warehouse automation and management. Understanding customers' needs based on shopping history, product searches, and demographic details makes the market more competitive.
The AI-based platform enables the seller to optimize their sales target by reaching the right customer with fundamental analysis based on gathered information. E-commerce AI is changing the online shopping field through the features like image search, customer-centric search, retargeting potential customers, virtual buying assistants, and extensive data analysis. AI applications analyze customer data to estimate future shopping trends and make product recommendations based on browsing patterns, ultimately driving the market growth.
Multiple factors that drive the AI-enabled E-Commerce solutions market are rising adoption of advanced technologies, manual error reductions in development processes due to the use of machine learning-based applications, cost-effective procedures, fast implementation of cloud-based platforms, and easy access to real-time data, various government initiatives for the R&D, and increasing awareness regarding advanced technologies. In addition, instant customer services related to product delivery, return, and complaints can be quickly resolved through artificial intelligence-enabled chat boxes. However, factors like the high cost of AI Solutions, shortage of skilled professionals, and complex and time-consuming procedures may downscale the AI-enabled E-Commerce solutions market's growth over the forecast period 2024-2031.
Market Segmentation
Segmentation of AI-enabled E-Commerce solutions market includes Technology, Applications, Deployment, and Region. The Technology segment comprises Deep Learning, Machine Learning, and NLP. Deep learning is a widely used technology in the market due to its benefits and useful features. In terms of Applications, the market is segmented into Customer Relationship Management, Supply Chain Analysis, Fake Review Analysis, Warehouse Automation, Merchandizing, Product Recommendation, and Customer Service. The Warehouse Automation segment is further bifurcated into Sorting and Placing and Inventory Storage. The Merchandizing segment is divided into Facets and Filter Selection and Multi Device Interaction. The Customer Service segment is subdivided into Chatbots. Out of these applications, customer relationship management, customer service, and product recommendation are the majorly used features. By Deployment, the market is divided into On-Premises and Cloud. Cloud Service has dominated this market. At regional level, the AI-enabled E-Commerce solutions market can be segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is anticipated to be the major market shareholder of this market over the forecast period, followed by Europe, Asia-Pacific, Latin America, and Rest-of-the-World.
Competitive Landscape
Some Of The Key Players In The AI-Enabled E-Commerce Solutions Market:
- Riskified,
- Reflektion, Inc.,
- Shelf ai,
- Osaro,
- Sift,
- AntVoice SAS,
- Appier Inc,
- Eversight, Inc.,
- Granify Inc.,
- LivePerson, Inc.,
- Manthan Software Services Pvt. Ltd.,
- PayPal, Inc.,
- Sidecar Interactive, Inc.,
- Tinyclues SAS,
- Twiggle Ltd.,
- Celect, Inc.,
- Cortexica Vision Systems Ltd.,
- Crobox B.V.,
- Deepomatic SAS,
- Dynamic Yield Ltd.,
- Emarsys eMarketing,
- Systems AG,
- Satisfi Labs, Inc.,
- Staqu Technologies Pvt. Ltd.,
- ViSenze Pte Ltd.,
- Other Prominent Players.
The AI-Enabled E-Commerce Solutions Market Report Scope
|
Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 6.01 Billion |
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Revenue Forecast In 2031 |
USD 19.89 Billion |
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Growth Rate CAGR |
CAGR of 16.2% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Technology, By Application, By Deployment |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
Riskified, Reflektion, Inc., Shelf.ai, Osaro, Sift, AntVoice SAS, Appier Inc, Eversight, Inc., Granify Inc., LivePerson, Inc., Manthan Software Services Pvt. Ltd., PayPal, Inc., Sidecar Interactive, Inc., Tinyclues SAS, Twiggle Ltd., Celect, Inc., Cortexica Vision Systems Ltd., Crobox B.V., Deepomatic SAS, Dynamic Yield Ltd., Emarsys eMarketing, Systems AG, Satisfi Labs, Inc., Staqu Technologies Pvt. Ltd., ViSenze Pte Ltd., and Other Prominent Players. |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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