AI Enabled E-Commerce Solutions Market Expand at a 15.7% CAGR to 2030

According to the latest research by InsightAce Analytic, the global AI Enabled E-Commerce Solutions market is valued at US$ 3.71 Billion in 2021, and it is expected to reach US$ 16.8 Billion by 2030, with a CAGR of 15.7% during a forecast period of 2022-2030.

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AI has become a valuable tool for increasing e-commerce sales and improving business processes. Currently, e-commerce businesses use a variety of tools and strategies. Still, most rely on artificial intelligence systems to enhance their features and make them faster and more efficient than earlier technologies. Ecommerce businesses use Chabot services for real-time customer support, analyzing customer feedback, and offering customized services. They also use artificial intelligence in their products, cross-selling, and sales improvement. Artificial intelligence in eCommerce enables personalized and engaging buying experiences.

The rapid adoption of cloud-based platforms, lower rate of human error in development processes, increased use of machine learning-based applications, cost-effective procedures, rapid adoption of cutting-edge technologies, easy access to real-time data, quick resolution of customer complaints through chat boxes with artificial intelligence, and rising government support for the R&D of AI-based platforms are all expected to drive the market for AI-enabled E-Commerce solutions.

Additionally, the recent entry of Covid-19 has had a significant impact on the market for AI-enabled E-Commerce solutions by raising the demand for warehouse automation and administration. The high cost of AI solutions, lengthy and complex development procedures, and a lack of skilled labor, among other issues, could limit industry expansion in the years to come.

North America is anticipated to be the major contributor to the AI-Enabled E-Commerce Solutions market over the forecast years. Many developed economies are concentrated on enhancing current retail solutions. Increased internet shopping, higher R&D spending, and new market entrants can all be connected to regional market growth.

In addition, the Asia Pacific AI Enabled E-Commerce Solutions market is expected to grow significantly during the forecast period. Emerging nations like Greater China and India are projected to open doors for AI in e-commerce due to the region's expanding e-commerce industry.

Major market players operating in the AI-Enabled E-Commerce Solutions market include:

Manthan Software Services Pvt. Ltd., PayPal, Inc., Sidecar Interactive, Inc., Tinyclues SAS, Twiggle Ltd., Celect, Inc., Cortexica Vision Systems Ltd., Crobox B.V., Riskified, Reflektion, Inc., Shelf.ai, Osaro, Sift, AntVoice SAS, Appier Inc, Eversight, Inc., Granify Inc., LivePerson, Inc., Deepomatic SAS, Dynamic Yield Ltd., Emarsys eMarketing, Systems AG, Satisfi Labs, Inc., Staqu Technologies Pvt. Ltd., ViSenze Pte Ltd., and Other Prominent Players.

Recent collaborations and agreements in the market:

• In September 2021, Sitecore acquired Reflektion. Sitecore's integration with Reflektion increases customer satisfaction and loyalty, long-term revenue, and buyer confidence by engaging, educating, and empowering customers to make quick purchases.

• In August 2021, Shelf.io raised $52.5 million in a Series B round of funding to accelerate the expansion of its AI-driven responses automation platform. The shelf complies with the highest security standards and is compatible with all customer service systems and communication channels. The shelf also offers customer-facing self-service capabilities to ensure that clients receive the right responses via their chosen channels.

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Market Segments
Global AI Enabled E-Commerce Solutions Market, by Types, 2022-2030 (Value US$ Mn)
• Deep Learning
• Machine Learning
• NLP

Global AI Enabled E-Commerce Solutions Market, by Applications, 2022-2030 (Value US$ Mn)
• Customer Relationship Management
• Supply Chain Analysis
• Fake Review Analysis
• Warehouse Automation
o Sorting and Placing
o Inventory Storage
• Merchandizing
o Facets and Filter Selection
o Multi Device Interaction
• Product Recommendation
• Customer Service
o Chatbots

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This release was published on openPR.