LONDON, Dec. 19, 2023 (Globe Newswire) — Artificial intelligence in e-commerce market is experiencing rapid growth, according to The Business Research Company's Artificial Intelligence in E-Commerce Global Market Report 2024. $7.01 billion in 2023 to $8.06 billion in 2024has shown an impressive compound annual growth rate (CAGR) 15.1%. The momentum during this historic period has been credited to increased demand for personalized shopping experiences, advancements in search and discovery capabilities, the proliferation of chatbots and virtual assistants, and government support to foster AI development. Masu.
Surge expected in coming years
Forecasts for artificial intelligence in the e-commerce market predict an even more rapid growth trajectory; $14.07 billion in 2028with robust driving force CAGR 14.9%. The surge in the forecast period is driven by an increased emphasis on customer data analytics, increased investment in AI in e-commerce, growing demand for AI-powered product recommendations, increased integration of AI in supply chain management, and fraud detection. focus on. Key trends over the forecast period include technological advancements in AI, expansion of voice commerce, supply chain optimization, AI-powered customer support, and conversational e-commerce.
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Driving growth: The surge in online shopping
Artificial intelligence in the e-commerce market is poised for significant growth due to the surge in online shopping activity. Online shopping, a popular trend, involves purchasing goods and services from sellers over the Internet. Integrating artificial intelligence into e-commerce improves customer experience, streamlines pricing optimization, and improves inventory management processes. According to the Adobe Digital Economy Index, US online retail sales accounted for 40% of his sales in the first quarter of 2021, up from 36% in the same period in 2020. This surge in online shopping has become a key driver of growth in the United States. Artificial intelligence in the e-commerce market.
Strategic insights for stakeholders
Major players in artificial intelligence in the e-commerce market, including industry giants such as Apple Inc, Google LLC, and Microsoft Corporation, are at the forefront of innovative technology. The adoption of generative AI e-commerce software-as-a-service (SaaS) platforms, such as Hype, demonstrates a commitment to innovation. This advanced technology allows merchants to create, optimize, and manage their online stores, providing a personalized and automated approach to inventory management and product discovery. Stakeholders ranging from technology companies and retailers to investors can leverage the insights provided by the Artificial Intelligence in E-Commerce Global Market report to navigate dynamic landscapes and make informed decisions. and take advantage of the immense opportunities within artificial intelligence in e-commerce. market.
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In conclusion, the Global Market Report for Artificial Intelligence in E-Commerce serves as an invaluable resource for stakeholders looking to harness the transformative potential of AI in shaping the future of e-commerce. The Artificial Intelligence in E-Commerce Market report offers comprehensive insights into market dynamics, trends, and competitive landscape, enabling stakeholders to gain an edge in the increasingly competitive technology-driven market.
World Market Report for Artificial Intelligence in E-Commerce 2024 The Business Research Company provides information on artificial intelligence in e-commerce market size, artificial intelligence in e-commerce market segment, artificial intelligence in e-commerce market trends, drivers and restraints, market position of key competitors, revenue and market share. provide insight. .
Business Research Company publishes more than 7,500 industry reports covering more than 2,500 market segments and 60 regions. This report is based on unique insights from 1,500,000 datasets, extensive secondary research, and interviews with industry leaders.
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