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The artificial intelligence in e-commerce market has experienced a rapid surge in recent years, showcasing substantial growth driven by factors such as personalized shopping experiences, improved search and discovery, and government support for AI development. As we explore the market dynamics, it becomes clear that the intersection of artificial intelligence and e-commerce is poised for an even more remarkable journey ahead.

Internet Penetration Ignites AI Revolution in E-Commerce

• Fueling Growth: Increasing internet penetration is a catalyst for the growth of AI in e-commerce, providing more data, expanding the customer base, and optimizing the shopping experience.
• US Example: In the United States, approximately 93.79% of the population, around 311.3 million individuals, are currently using the internet, according to Broadband Search.
• Impact: Higher internet penetration propels AI integration, enhancing operations and competitiveness in the e-commerce landscape.

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Innovative Generative AI E-Commerce SaaS Platforms Drive Market Competitiveness

• Technology Advancements: Major companies are developing generative AI e-commerce Software-as-a-Service (SaaS) platforms to stay competitive.
• Hype’s Example: Hype, an India-based e-commerce company, launched a generative AI e-commerce SaaS platform, revolutionizing online stores with personalized, automated inventory control, and innovative product discovery.
• Framework: These platforms leverage advanced AI and machine learning frameworks that continually learn and adapt to unique data patterns, enhancing the user experience.

eBay Reinforces Commitment to Safety and Authenticity

• Strategic Acquisition: In February 2023, eBay Inc. acquired 3PM Shield LLC, a US-based software company, aiming to enhance safety and authenticity on its platform.
• Objective: The acquisition reinforces eBay’s commitment to providing a secure platform and combating counterfeits, unsafe products, and illegal items through cutting-edge technology.
• Impact: The move signals the importance of leveraging AI to create a safe and reliable environment for both sellers and customers.

Market Segmentation and Major Players

• Technological Segmentation: The AI in e-commerce market is segmented by technology, deployment, application, and end-user, offering a comprehensive understanding of its diverse landscape.
• Major Players: Apple Inc., Google LLC, Microsoft Corporation, Amazon Web Services Inc., and others play pivotal roles, driving innovation and shaping the AI in e-commerce market.

Forecasted Growth and Major Trends

• Market Size Projection: The AI in e-commerce market is expected to grow from $7.01 billion in 2023 to $14.07 billion in 2028, at a CAGR of 14.9%, reflecting the industry’s robust expansion.
• Major Trends: Key trends include technological advancements in AI, voice commerce expansion, supply chain optimization, AI-enhanced customer support, and conversational e-commerce, signaling a dynamic and evolving landscape.

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The Artificial Intelligence In E-commerce Global Market Report 2023  provides an overview of the artificial intelligence in E-commerce market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The artificial intelligence in E-commerce market forecast analyzes artificial intelligence in E-commerce market size, artificial intelligence in E-commerce market share, leading competitor and their market positions.

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