The artificial intelligence in e-commerce market is experiencing high demand due to the benefits offered by AI such as smart product recommendations, improved customer experience, fraud detection, maximized profits, and automated customer support. AI greatly enhances on-site shopping experiences by understanding customers and matching them with highly personalized product recommendations. Chatbots and virtual assistants powered by AI are streamlining customer inquiries and ensuring round-the-clock assistance.

The global artificial intelligence in e-commerce market is estimated to be valued at US$ 6.12 Bn in 2024 and is expected to exhibit a CAGR of 25% over the forecast period between 2024 to 2031.

Key Takeaways
Key players operating in the Artificial Intelligence In E-Commerce Market Companies are Amazon.com, Inc., AntVoice SAS, Appier Inc., Celect, Inc., Cortexica Vision Systems Ltd., Crobox B.V., Deepomatic SAS, Dynamic Yield Ltd., Eversight, Inc., Granify Inc., LivePerson, Inc. These players are focusing on developing advanced AI-based solutions to enhance customer experience and strengthen their market position.
Secondly, AI is opening up several growth opportunities for e-commerce retailers such as live chat support, computer vision, predictive analysis, dynamic pricing, and product recommendation widgets. These solutions can automate routine tasks and boost sales.
Furthermore, with its ability to analyze huge amounts of data, AI is enabling e-commerce giants to rapidly expand their global operations. By leveraging location data and local preferences, retailers are easily customizing their offerings for international consumers.

Market Drivers
The primary driver fueling the Artificial Intelligence In E-Commerce Market Trend is the increasing ability of AI solutions to personalize product recommendations based on user behavior. By understanding purchase histories, browsing patterns, and feedback; AI can suggest highly relevant items to customers and increase average order values. This smart matching of customers to products using machine learning algorithms is improving sales numbers for e-tailers.

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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.

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