AI in E-commerce Market Size, Share, Forecast, & Trends Analysis

[City, Date] - Meticulous Research®, a renowned global market research leader, is pleased to announce the release of its latest research 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.'

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According to the insightful findings presented in this comprehensive report, the global AI in e-commerce market is anticipated to achieve a remarkable milestone, reaching $11.1 billion by 2031, showcasing a compelling Compound Annual Growth Rate (CAGR) of 17.8% throughout the forecast period. This growth is underpinned by various factors such as the escalating demand for customer retention strategies in the e-commerce sector, the pervasive use of social media and social commerce, the widespread adoption of internet and smartphones, and the imperative need to enhance and automate inventory management systems. Nonetheless, the market is faced with challenges attributed to the substantial initial investment required.

Furthermore, the report sheds light on the burgeoning opportunities arising from the increasing penetration of voice recognition technology. Despite these opportunities, challenges in the form of data privacy concerns and a shortage of skilled labor pose hurdles to the market's growth trajectory.

Meticulous Research® has meticulously segmented the market based on technology, business model, deployment mode, product offering, end user, and geography to facilitate a thorough analysis. The study also includes a comprehensive evaluation of industry competitors and an in-depth market analysis at both regional and country levels.

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Key Highlights:

Technology Segmentation:

Machine Learning (ML): Expected to dominate the market by 2024, owing to its widespread utilization in customer experience management, customer behavior tracking, and predictive merchandising.
Computer Vision: Projected to register the highest CAGR, driven by the increasing demand for enhanced inventory organization, better product discovery, reduced costs, and improved security.

Business Model Segmentation:

Horizontal E-commerce: Anticipated to command a larger market share in 2024, catering to diverse product categories and leveraging a marketplace model.
Vertical E-commerce: Expected to register the highest CAGR, offering specialized shopping experiences within specific product categories.

Deployment Mode Segmentation:

On-premise Deployment: Expected to dominate the market share in 2024, particularly favored by large enterprises for security reasons.
Cloud-based Deployment: Projected to exhibit the highest CAGR, fueled by the evolution of new avenues, cost reduction, and increased adoption by small and medium-scale enterprises.

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Product Offering Segmentation:

Beauty & Fashion Products: Expected to hold the largest market share in 2024, driven by changing consumer behaviors, a surge in online shopping, and the popularity of mobile wallets.
Electronic Products: Projected to register the highest CAGR, attributed to the high demand for electronic devices and the integration of advanced technologies.

End User Segmentation:

B2B: Expected to command a larger market share in 2024, driven by the increasing emphasis on transaction security, brand enhancement, and AI adoption for efficiency and profitability.
B2C: Projected to register the highest CAGR, reflecting the evolving landscape of consumer preferences.
Geographical Analysis:

Asia-Pacific: Anticipated to hold the largest market share in 2024, driven by factors such as a large consumer base, increased smartphone and internet penetration, rising disposable income, and technological advancements.

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Key Players:
The key players operating in the global AI in e-commerce market include Amazon Web Services, Inc., Google LLC, IBM Corporation, Alibaba Cloud, Intel Corporation, Microsoft Corporation, Shelf.AI, Appier Inc., NVIDIA Corporation, Granify, Inc., Oracle Corporation, Manthan Software Services Pvt. Ltd., SAP SE, LivePerson, Inc., and Twiggle Ltd.

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