GVR Report cover Artificial Intelligence in E-commerce Market Size, Share & Trends Report

Artificial Intelligence in E-commerce Market Size, Share & Trends Analysis Report By Technology, By Application, By Deployment, By Region, And Segment Forecasts, 2022 To 2030

  • Report ID: GVR453282
  • Number of Pages: 0
  • Format: Electronic (PDF)

Artificial intelligence in the e-commerce market size will witness an appreciable gain on the back of the rising demand to predict shopping patterns. A dramatic shift towards online shopping has spurred the need for personalized product recommendation engines, smart chatbots, and voice searches. Prominently, the personalization trend could drive industry growth by assessing customer data from a host of touchpoints, such as email campaigns, mobile apps, and websites.

AI-enabled inventory management has become sought-after to maintain stocks based on anticipated changes in product demands and sales trends. Besides, the advent of automated robots has brought a paradigm shift in the e-commerce sector. For instance, AI robots have become trendier to retrieve or store stocks with instant dispatching of ordered items.

Artificial Intelligence in E-commerce Market Segmentation

Segments

Details

Technology

NLP; Deep Learning; Machine Learning

Applications

Customer Relationship Management; Supply Chain Analysis; Fake Review Analysis; Warehouse Automation; Merchandizing; Product Recommendation; Customer Service

Deployment

Cloud; On-Premise

Region

North America; Europe; Asia Pacific; South America; MEA

 

In terms of technology, the natural language processing (NLP) segment could contribute notably to artificial intelligence in e-commerce market share. The growth is mainly attributed to NLP’s ability to help customize the searches for users. In essence, e-commerce retailers could seek NLP to categorize products and keep potential customers interested by recommending the right product or services. NLP could be sought for cost-effectiveness, sentiment analysis, and smart search functionality.

The use of smart search plays an invaluable role in finding the information and breaking down synonyms, linguistic terms, and other terms in everyday language. Moreover, NLP has become trendier in voice assistants and chatbots and has gained traction in e-commerce as voice-activated payments.

With respect to applications, warehouse automation will witness a considerable CAGR due to the increased adoption of IoT sensors for automated alerts and identifying inventory. Of late, the hyper-automation trend could streamline the warehousing process with AI-fueled smart robots. Intelligent robots could help e-commerce companies boost productivity and efficiency through seamless warehouse management.

Based on deployment, the cloud-based platform will account for a significant global market share, mainly due to scalability and seamless inventory management. Prominently, the cloud offers cloud architecture, real-time data, and analytics for prescriptive and predictive inventory forecasting. Cloud services leverage e-commerce players to provide customers with a personalized experience with increased agility. Stakeholders expect cloud computing to help the e-commerce sector with scalable architecture and provide an assessment of traffic, demand, and seasonal peaks.

Industry participants envisage North America to provide lucrative opportunities against the backdrop of a notable spike in online shopping and bullish investments in R&D activities. Besides, the rising penetration of fake review analysis and customer relationship management across the U.S. and Canada will solidify the position of major players in the regional market. The AI technology will continue to receive impetus across platforms, including e-commerce mobile apps, helping create localized content.

Leading companies have augmented investments in organic and inorganic strategies to tap into global markets. To illustrate, in April 2022, Amazon announced investing USD 1 billion in companies developing technologies in supply chain management, logistics, safety and warehouse management. The company is contemplating rolling out Amazon Industrial Innovation Fund to foster e-commerce delivery speeds and enhance workers’ experience in logistics and warehousing.

In June 2022, Zoovu reportedly raised USD 169 million in a Series C funding round to expand its penetration in the U.S. and bolster its AI-powered platform used by Microsoft, Amazon and 3M. With shopping robustly shifting from in-store to online, brands and retailers are expected to focus on offering better digital experiences.

In July 2021, LivePerson reportedly acquired e-bot7 to help brands roll out AI-powered messaging experiences. The company expects to bolster its market presence across Europe by serving brands in the U.K., France, Germany, Benelux and other major regions.

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