AI in E-commerce Market Expected to Achieve $11.1 Billion by 2031

1. "AI in E-commerce Market Projections: Expected to Achieve $11.1 Billion by 2031” J

2. AI in E-commerce Market 2024-2031 Meticulous Research®, a premier global market research firm, has released a detailed report titled “AI in E-commerce Market by Technology (ML, NLP, Computer Vision), Business Model, Deployment Mode, Product Offering (Beauty & Fashion, Pharmaceutical, Electronic), End User (B2B, B2C), and Geography - Global Forecast to 2031.” This comprehensive study projects that the global AI in e- commerce market will exceed $11.1 billion by 2031, growing at a remarkable CAGR of 17.8% during the forecast period. Download Sample Report Here @ https://www.meticulousresearch.com/download-sample- report/cp_id=5767?utm_source=article&utm_medium=social&utm_campaign =product&utm_content=01-10-2024 The surge in the AI in e-commerce market can be attributed to multiple factors, primarily driven by the increasing demand for enhanced customer retention strategies within the e-commerce sector. As businesses strive to maintain a competitive edge, leveraging artificial intelligence to analyze customer data and improve user experiences has become paramount. The growing influence of social media and social commerce further amplifies this trend, enabling brands to connect with consumers in innovative ways. Coupled with the rising penetration of the internet and smartphone usage, these dynamics contribute to a robust growth trajectory for AI in e-commerce. However, while opportunities abound, the market faces significant challenges. High initial investment costs associated with implementing AI technologies can deter smaller businesses from adopting these solutions. The necessity for substantial upfront capital can limit the accessibility of advanced technologies for various enterprises, particularly those operating within tighter budget constraints. Opportunities and Challenges in the Market Amidst these challenges, the report highlights the increasing penetration of voice recognition technology as a notable opportunity for growth within the AI in e-commerce market. As consumers increasingly adopt voice-activated devices for shopping and inquiries, businesses are presented with a unique opportunity to enhance customer engagement and streamline the shopping experience. This growing trend represents a significant avenue for innovation and market expansion. Conversely, the report outlines critical challenges that must be addressed for sustained growth. Data privacy concerns remain at the forefront, with consumers becoming increasingly wary of how their personal information is collected and utilized. This heightened awareness necessitates a proactive approach from businesses to ensure robust data protection measures are in place. Furthermore, a shortage of skilled labor in AI and data science fields poses an additional obstacle. As demand for AI solutions grows, the competition for qualified professionals intensifies, potentially hindering the ability of businesses to implement effective AI strategies. Segment Analysis of the AI in E-commerce Market Meticulous Research® has segmented the AI in e-commerce market based on technology, business model, deployment mode, product offering, end user, and geography to facilitate a thorough analysis of market dynamics. Each segment reveals valuable insights into current trends and future potential. Page 1 of 3 © Meticulous Research| sales@meticulousresearch.com

3. AI in E-commerce Market 2024-2031 1.Technology Segmentation: The global AI in e-commerce market is categorized into various technologies, including machine learning (ML), natural language processing (NLP), computer vision, deep learning, and others. The machine learning segment is anticipated to dominate the market in 2024, accounting for the largest share. This dominance is primarily driven by the increasing use of ML in customer experience management, behavior tracking, and predictive merchandising. Machine learning algorithms enable businesses to deliver personalized product recommendations, enhancing the customer shopping experience. In contrast, the computer vision segment is projected to register the highest CAGR, fueled by organizations' need to improve inventory organization and product discovery. 2.Business Model Segmentation: The AI in e-commerce market is further segmented into horizontal and vertical e-commerce models. The horizontal e- commerce segment is expected to hold a larger share in 2024, catering to diverse product categories and appealing to a broad consumer base. In contrast, the vertical e-commerce segment is projected to grow at the highest rate during the forecast period, allowing businesses to provide specialized shopping experiences tailored to specific product categories. 3.Deployment Mode Segmentation: The global AI in e-commerce market is divided into on-premise deployment and cloud-based deployment. The on- premise deployment segment is anticipated to account for a larger market share in 2024, primarily due to the preference of large enterprises for in-house solutions. However, the cloud-based deployment segment is forecasted to register the highest CAGR, driven by advancements in cloud technologies, decreasing costs, and increased adoption by small and medium-sized enterprises. 4.Product Offering Segmentation: The market encompasses various product offerings, including beauty & fashion products, electronic products, pharmaceutical products, and more. The beauty & fashion segment is projected to dominate the market share in 2024, driven by rapidly changing consumer preferences and a growing demand for online shopping. Conversely, the electronic products segment is expected to witness the highest CAGR, fueled by the increasing demand for electronic devices and advanced technologies in customer engagement. 5.End User Segmentation: The AI in e-commerce market is segmented into B2B and B2C categories. In 2024, the B2B segment is expected to hold a larger share, driven by the increasing focus on transaction security and the adoption of AI for pricing optimization and inventory management. Notably, the B2B segment is also projected to experience the highest CAGR during the forecast period. 6.Geographical Segmentation: The report outlines the geographic landscape of the AI in e-commerce market, identifying key regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia- Pacific is expected to dominate the market, propelled by large consumer groups, rising disposable incomes, and significant technological advancements in countries such as South Korea and Japan. Furthermore, Asia-Pacific is projected to register the highest CAGR during the forecast period. Key Players in the Market The report identifies prominent players operating in the global AI in e-commerce market, including Amazon Web Services, Inc. (U.S.), Google LLC (U.S.), IBM Corporation (U.S.), Alibaba Cloud (China), Intel Corporation (U.S.), Microsoft Corporation Page 2 of 3 © Meticulous Research| sales@meticulousresearch.com

4. AI in E-commerce Market 2024-2031 (U.S.), Shelf.AI (Portugal), Appier Inc. (Japan), NVIDIA Corporation (U.S.), Granify, Inc. (Canada), Oracle Corporation (U.S.), Manthan Software Services Pvt. Ltd. (U.S.), SAP SE (Germany), LivePerson, Inc. (U.S.), and Twiggle Ltd. (Israel). These key players are actively investing in research and development to enhance their offerings and gain a competitive edge in the evolving market landscape. Conclusion In conclusion, the AI in e-commerce market is on an impressive growth trajectory, with projections indicating significant expansion over the next several years. Driven by the need for improved customer retention strategies, technological advancements, and changing consumer behaviors, the market presents a wealth of opportunities for businesses willing to adapt and innovate. However, addressing challenges such as data privacy and skill shortages will be crucial for companies looking to capitalize on this burgeoning sector. Quick Buy @ https://www.meticulousresearch.com/Checkout/81355767?utm_source=articl e&utm_medium=social&utm_campaign=product&utm_content=01-10-2024 About Meticulous Research® Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Contact Us: Meticulous Research® Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 3 of 3 © Meticulous Research| sales@meticulousresearch.com