Overview and Scope
Artificial intelligence (AI)-enabled e-commerce solutions refer to AI-powered solutions that leverage artificial intelligence algorithms and data analytics to enhance various aspects of online retail operations, including personalized shopping experiences, targeted marketing, fraud detection, inventory management, and customer support, ultimately improving efficiency and driving sales growth. This system enables retailers to deliver personalized, efficient, and seamless shopping experiences to customers, driving customer satisfaction, loyalty, and business growth in the highly competitive e-commerce landscape.
Sizing and Forecast
The artificial intelligence (AI)-enabled e-commerce solutions market size has grown rapidly in recent years. It will grow from $5.05 billion in 2023 to $5.81 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to the increasing adoption of machine learning algorithms, the rise of personalized shopping experiences, enhanced customer service through AI chatbots, improved product recommendation systems, and automation of inventory management.
The artificial intelligence (AI)-enabled e-commerce solutions market size is expected to reach rapid growth in the next few years. It will grow to $10.32 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to the expanded use of AI in fraud detection and prevention, the proliferation of voice commerce interfaces, the integration of augmented reality for enhanced shopping experiences, the growth of AI-powered visual search capabilities, and the and the utilization of predictive analytics for dynamic pricing strategies. Major trends in the forecast period include increased focus on sustainability and ethical AI usage, the emergence of hyper-personalization through advanced AI algorithms, the adoption of AI for supply chain optimization and predictive inventory management, the integration of AI-powered virtual shopping assistants and concierge services, and the and the expansion of AI-driven recommendation engines across multiple channels.
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Segmentation & Regional Insights
The artificial intelligence (ai) enabled e-commerce solutions market covered in this report is segmented –
1) By Technology: Deep Learning, Machine Learning, Natural Language Programming
2) By Deployment: On-Premises, Cloud
3) By Application: Customer Relationship Management, Supply Chain Analysis, Fake Review Analysis, Warehouse Automation, Merchandizing, Product Recommendation, Customer Service
Top 5 Major Players:
- Microsoft Corporation
- International Business Machines Corporation
- Oracle Corporation
- SAP SE
- Salesforce.com Inc
North America was the largest region in the artificial intelligence (AI)-enabled e-commerce solutions market in 2023. The regions covered in the artificial intelligence (AI) enabled e-commerce solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increased fraud detection and prevention is expected to propel the artificial intelligence (AI)-enabled e-commerce solutions market going forward. Fraud detection and prevention involve identifying, mitigating, and stopping fraudulent activities by implementing proactive measures and advanced technologies. The rising need for fraud detection and prevention is due to increasing digital transactions, evolving fraud techniques, and the growing complexity of interconnected systems, highlighting the imperative to safeguard assets and maintain trust in financial operations. AI-enabled e-commerce solutions offer advanced capabilities to identify and mitigate fraudulent activities, enhancing online transactions’ confidence, security, and efficiency. For instance, according to a survey including 1,072 merchants published by Cybersource, a US-based payment gateway company, global fraud attacks, including phishing, pharming, and whaling, surged to 43% of merchants, up from 35% in 2022. Moreover, coupon, discount, and refund abuse rose from 25% to 30% in 2023. Therefore, the increase in fraud detection and prevention is driving the growth of the artificial intelligence (AI)-enabled e-commerce solutions market.
Key Industry Players
Major companies operating in the artificial intelligence (AI) enabled e-commerce solutions market report are Microsoft Corporation; International Business Machines Corporation; Oracle Corporation; SAP SE; Salesforce.com Inc.; Adobe Inc.; Shopify Inc.; Sitecore Corporation A/S; Bazaarvoice Inc.; BigCommerce Pty. Ltd.; BloomReach Inc.; Yotpo Ltd.; Commercetools GmbH; Optimizely Inc.; Magento Inc.; RichRelevance Inc.; Coveo Solutions Inc.; Ada Support Inc.; Elastic Path Software Inc.; Inbenta Technologies Inc.; Uberflip Inc.; Nosto Solutions Ltd.; Klevu Oy; Landbot.io S.L.; Hellotars Inc.
The artificial intelligence (ai) enabled e-commerce solutions market report table of contents includes:
1. Executive Summary
2. Artificial Intelligence (AI) Enabled E-Commerce Solutions Market Characteristics
3. Artificial Intelligence (AI) Enabled E-Commerce Solutions Market Trends And Strategies
4. Artificial Intelligence (AI) Enabled E-Commerce Solutions Market – Macro Economic Scenario
5. Global Artificial Intelligence (AI) Enabled E-Commerce Solutions Market Size and Growth
….
32. Global Artificial Intelligence (AI) Enabled E-Commerce Solutions Market Competitive Benchmarking
33. Global Artificial Intelligence (AI) Enabled E-Commerce Solutions Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence (AI) Enabled E-Commerce Solutions Market
35. Artificial Intelligence (AI) Enabled E-Commerce Solutions Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Artificial Intelligence (AI) Enabled E-Commerce Solutions Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Artificial Intelligence (AI) Enabled E-Commerce Solutions Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Artificial Intelligence (AI) Enabled E-Commerce Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Microsoft Corporation Financial Performance
Table 75: International Business Machines Corporation Financial Performance
Table 76: Oracle Corporation Financial Performance
Table 77: SAP SE Financial Performance
Table 78: Salesforce.com Inc. Financial Performance
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