The AI-powered e-commerce solutions market worth US$16.8 billion by 2030
JERSEY CITY, NJ, February 2, 2022 /PRNewswire/ — The recently released report titled, “Global AI-Driven E-Commerce Solutions Market – By Trends, Industry Competitive/Company Profile Analysis, Revenue (USD Billion) and Forecast up to in 2030”. features in-depth industry analysis and in-depth market research, exploring its important factors.
According to InsightAce Analytic’s latest business intelligence research report, the global AI-enabled e-commerce solutions market size was valued at US$3.71 billion in 2021, and it is expected to reach US$16.8 billion in 2030, register a promising CAGR of 15.7% from 2021 to 2030.
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Software development can be easier with ML and AI technologies, making predictive analytics more accurate. The AI-powered platform allows a retailer to increase their sales target by reaching the right customer with critical analysis based on collected information. E-commerce artificial intelligence has transformed the field of online shopping with features such as image search, customer-focused search, re-identification of potential customers, visual assistants and customer data analysis. auction. Newly developed AI applications consider various parameters such as purchase history, product searches and customer demographics to measure future shopping trends and make product recommendations based on browsing habits , likely to drive the growth of the market.
Rapid implementation of cloud-based platforms, reduction in the rate of manual errors in development processes, increasing use of machine learning-based applications, cost-effective procedures, rapid adoption advanced technologies, easy access to real-time data, rapid complaint resolution through AI-enabled chat boxes, and increased government support for R&D of AI-based platforms are expected to drive the market for AI-based e-commerce solutions over the projected period. Additionally, the recent emergence of Covid-19 has had a significant impact on the market for AI-based e-commerce solutions as it has created the need for warehouse automation and management. However, factors such as complex and time-consuming development procedures, high cost of AI solutions, and lack of skilled professionals might hamper the market growth in the coming years.
In terms of Region, North America will dominate the market for AI-based e-commerce solutions in the coming years. It will continue its trend during the forecast period 2022-2030, attributed to rapid adoption of advanced technologies, growing trend of online shopping, easy access to cloud applications or platforms, increased investment in R&D and the entry of new players into the market. On the other hand, in Europegrowing partnerships among key players and rapid adoption of cloud-based platforms will help drive the market. Asia Pacific market is going to grow faster over the forecast years. This growth is attributed to changing lifestyles, advancements in technology, especially in artificial intelligence, and the increasing rate of online shopping due to digital transformations.
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Key players in the AI-based e-commerce solutions market are 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 BV, Deepomatic SAS, Dynamic Yield Ltd., Emarsys eMarketing, Systems AG, Satisfi Labs, Inc., Staqu Technologies Pvt. Ltd., ViSenze Pte Ltd. and other important actors. Product innovations, acquisitions, collaborations, partnerships, and R&D activities are key strategies employed by players in this market.
- In July 2021, LivePerson, Inc. has acquired German conversational artificial intelligence company e-bot7. Strategic acquisition propels LivePerson’s self-service capabilities — enabling brands of all sizes to quickly launch AI-powered messaging experiences — as well as its continued growth across Europe.
- In February 2021LivePerson, Inc. launched AI Annotator, a new tool that automates brand and consumer curation faster than ever by leveraging agent expertise to enhance conversational AI
- In August 2019Nike acquired BostonPredictive analytics-based company Celect (AI platform) marking its latest acquisition in a series of deals to bolster its direct-to-consumer strategy. This acquisition allowed Nike to integrate its inventories with the company’s website and app.
- In August 2017PayPal has launched new innovation labs in Chennai and Technology Centers in Bangalore. The lab is PayPal’s first in India and he is third after the United States and Singapore. The lab operates as a platform to promote innovation which is a core value for PayPal globally. The labs support machine learning, AI, data science, IoT, augmented reality, virtual reality, and basic robotics projects.
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AI-powered e-commerce solutions Market segments
AI-enabled e-commerce solutions market size (value in billion US$) and forecast and trend analysis, 2022 to 2030 based on Technology
- deep learning
- machine learning
AI-enabled e-commerce solutions market size (value in billion US$) and forecast and trend analysis, 2022 to 2030 based on Apps
- Customer relationship management
- Supply chain analysis
- Analysis of fake reviews
- Warehouse automation
- Sort and place
- Inventory storage
- Facets and filter selection
- Multi-device interaction
- Product recommendation
- Customer service
AI-enabled e-commerce solutions market size (value in billion US$) and forecast and trend analysis, 2022 to 2030 based on Deployment
AI-enabled e-commerce solutions market size (value in billion US$) and forecast and trend analysis, 2022 to 2030 based on Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
North America AI-powered e-commerce solutions market revenue (Million US$) by country, from 2020 to 2030
Europe AI-powered e-commerce solutions market revenue (Million US$) by country, from 2020 to 2030
- Rest of Europe
Asia-Pacific AI-powered e-commerce solutions market revenue (Million US$) by country, from 2020 to 2030
- South Korea
- Australia & New Zealand
Latin America AI-powered e-commerce solutions market revenue (Million US$) by country, from 2020 to 2030
- Rest of Latin America
the Middle East & Africa AI-powered E-Commerce Solutions Market Revenue (Million US$) by Country, 2020-2030
- South Africa
- The rest of Middle East & Africa
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- To analyze the AI-based e-commerce solutions market drivers and challenges
- To get insights on the value of AI-Enabled E-commerce Solutions Market Size (Million US$) forecasted till 2030
- Significant investments, mergers and acquisitions in the AI-based e-commerce solutions market industry
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