Press release
AI-Powered Virtual Shopping Assistants Market Projected to Reach USD 12,569.38 Million by 2034, Growing at a CAGR of 26.0%
The global AI-powered virtual shopping assistants market is anticipated to grow significantly, according to the newly published research report by Polaris Market Research. The market was valued at USD 1,250.23 million in 2024 and is projected to grow to USD 12,569.38 million by 2034. This growth signifies a robust compound annual growth rate (CAGR) of 26.0% over the forecast period, 2025-2034.
Market Scenario
Agentic AI is the driving force behind modern shopping assistants. With next-generation AI systems, AI agents can be trained and empowered to handle a wide range of tasks, including acting as an online shopping assistant for businesses. AI-powered virtual shopping assistants can perform complex tasks, make decisions, and learn from interactions, which translates into valuable future opportunities.
Data analysis and consumer behavior insights are among the most fundamental and crucial capabilities that AI assistants manage. Using advanced algorithms, AI meticulously analyzes data, identifying patterns in past behavior and inherent preferences. AI also leverages predictive analytics in shopping by examining historical data and understanding the types of products shoppers are purchasing. This enables AI systems to forecast future trends and consumer needs.
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Market Drivers
Growing Advancements in NLP: Enhanced NLP has enabled AI-powered virtual shopping assistants to comprehend and react to consumer queries more precisely, offering a smooth and inherent shopping experience. Machine learning algorithms allow these assistants to learn from consumer communication providing customized suggestions and expecting consumer requirements with superior accuracy, having a favourable impact on AI-powered virtual shopping assistants market sales.
Rising Urbanization:
Urban people frequently look for speedier more effortless ways to shop without coping with congested stores or a restricted time. AI-powered virtual shopping assistants provide recommendations by offering customized suggestions, prompt support, and a simplified access to products from anywhere, thus encouraging their adoption.
AI-Powered Virtual Shopping Assistants Market Report Highlights
• In terms of deployment, the cloud segment accounted for 62% of AI-powered virtual shopping assistants market revenue share in 2024 due to its scalability, cost-efficiency, and ease of integration with existing e-commerce platforms.
• Based on industry vertical, the e-commerce segment led the market with ~ 38% revenue share. E-commerce businesses are aggressively adopting intelligent shopping technologies to enhance user experience, increase conversion rates, and reduce cart abandonment. The retail segment is projected to grow at a rapid pace, driven by the integration of AI into physical stores and omnichannel retail strategies.
• North America held the largest AI-powered virtual shopping assistants market share, accounting for approximately 41% of the total revenue. The region benefited from the early adoption of advanced AI technologies, high digital literacy, and a well-established e-commerce ecosystem.
• The market in Asia Pacific is estimated to grow at a rapid pace during the forecast period. Countries such as China, India, and Japan are driving this expansion through rapid digitalization, growing 5G smartphone penetration, and an increasing number of online shoppers.
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Major Market Players
Prominent contenders in the market are consistently striving to acquire a competitive edge through tactical associations, acquisitions, and product inventions. Key companies are mentioned below:
• Amazon
• App0
• Claros
• eBay Inc.
• H & M Hennes & Mauritz AB
• Manifest AI
• Observe.AI
• Perplexity
• SoftServe Inc.
• Tidio AI
• Verloop
• Walmart Inc.
Market Segments
The AI-powered virtual shopping assistants market is segmented into deployment, technology, industry vertical, and region.
Based on deployment, the cloud segment acquired the largest share of the market in 2024 due to its scalability, efficiency, and ease of integration with existing e-commerce platforms.
Based on industry vertical, the e-commerce segment dominated the market due to AI virtual assistant for e-commerce businesses growingly adopting smart shopping technologies to improve user experience, escalate conversion rates and decrease cart neglect.
AI-Powered Virtual Shopping Assistants Market, Deployment Outlook (Revenue - USD Million, 2020-2034)
• Cloud
• On-Premises
• Hybrid
AI-Powered Virtual Shopping Assistants Market, Technology Outlook (Revenue - USD Million, 2020-2034)
• Natural Language Processing (NLP)
• Machine Learning (ML) & Deep Learning
• Voice Recognition
• Others
AI-Powered Virtual Shopping Assistants Market, Industry Vertical Outlook (Revenue - USD Million, 2020-2034)
• E-Commerce
• Retail
• Consumer Goods
• Electronics
• Automotive
• Healthcare
• Others
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Regional Overview
• North America
o US
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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