Global Commerce Artificial Intelligence Market, By Offering (Hardware, Software, Services), Platform (Ecommerce, In-Store), Application (Customer Relationship Management, Internet of Things (IoT), Supply Chain Analysis, Virtual Personal Assistants, Fake Review Analysis, Merchandising, Warehouse Automation, Product Recommendation, Customer Service, Ecommerce Marketing, Product Catalogue Optimization, and Fleet Management), Organization Size (Large enterprises, Small and medium-sized enterprises (SMEs)), Technology (Deep Learning, Machine Learning, Natural Language Processing (NLP), and Others), Implementation (Cloud-Hosting, On-Premise), End User (Retail, Electronics, Food and Beverages, Fashion, Logistics, BFSI), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) - Industry Trends and Forecast to 2029
Market Analysis and Insights of Commerce Artificial Intelligence Market
Commerce artificial intelligence market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to grow at a CAGR of 7.87%in the above-mentioned forecast period.
The commerce artificial intelligence basically refers to the artificial intelligence which is used for the commercial purposes. Artificial intelligence (AI) is a branch of computer science that aims to develop programmable machines by simulating human intelligence. Human-like speech recognition, learning, planning, and problem solving are all possible with AI-integrated machines.
The factors such comprehensive expenses in AI-based solutions along with the increasing machineability for judgment creating from trillion bytes of online data are expected to emerge as the significant factors accelerating the growth of commerce artificial intelligence market. In addition to this, the use of fully autonomous robots that can perceive, interact, and conceptualize the world around them will further aggravate the growth of the commerce artificial intelligence market in the above-mentioned forecast period. Its ability to diagnose equipment malfunctions or detect product anomalies is also projected to cushion the overall growth of the market. However, the requirement of workforce with certain skill for developing, managing and implementing AI systems results as a growth restraint for the market.
Furthermore, the increase in government initiatives and growth in investments to leverage the AI technology are also anticipated to generate lucrative opportunities for the commerce artificial intelligence market in the forecast period of 2022 to 2029. On the flip side, the data security and privacy concerns will pose as a challenge for the commerce artificial intelligence market.
This commerce artificial intelligence market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on Commerce artificial intelligence market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Commerce Artificial Intelligence Market Scope and Market Size
The commerce artificial intelligence market is segmented on the basis of offering, platform, application, technology, implementation, and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of offering, the commerce artificial intelligence market is segmented into hardware, software and services. Hardware is sub-segmented into processor, memory and network. Software is sub-segmented into application program interface (API) and machine learning framework. The services is sub-segmented into deployment and integration and support and maintenance.
- On the basis of platform, the commerce artificial intelligence market is segmented into ecommerce, and in-store.
- On the basis of application, the commerce artificial intelligence market is segmented into customer relationship management, internet of things (IoT), supply chain analysis, virtual personal assistants, fake review analysis, merchandising, warehouse automation, product recommendation, customer service, ecommerce marketing, product catalogue optimization, and fleet management.
- On the basis of technology, the commerce artificial intelligence market is segmented into deep learning, machine learning, natural language processing (NLP), and others. The machine learning is sub-segmented into deep learning, supervised learning, unsupervised learning, reinforcement learning and other technology.
- On the basis of implementation, the commerce artificial intelligence market is segmented into cloud-hosting, and on premise.
- On the basis of end user, the commerce artificial intelligence market is segmented into retail, electronics, food and beverages, fashion, logistics and BFSI.
Commerce Artificial Intelligence Market Country Level Analysis
The commerce artificial intelligence market is analyzed and market size, volume information is provided by offering, platform, application, technology, implementation, and end user as referenced above.
The countries covered in the commerce artificial intelligence market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the commerce artificial intelligence market during the forecast period owing to the presence of key companies and large investment in the artificial intelligence industry in the forecast period of 2022 to 2029. Asia-Pacific, on the other hand, is expected to show a lucrative growth due to growing ratio of disposable earnings, enhanced distribution channels, and leading market player’s entrance in the e-commerce trading, thus helping the industry to flourish in the province.
The country section of the commerce artificial intelligence market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Commerce Artificial Intelligence Market Share Analysis
The commerce artificial intelligence market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Commerce artificial intelligence market.
Some of the major players operating in the commerce artificial intelligence market report are Huawei Technologies Co., Ltd., SAMSUNG, Qualcomm Technologies, Inc., NVIDIA Corporation, Hewlett Packard Enterprise Development LP, Cisco Systems, Inc., IBM, Amazon Web Services Inc., Oracle, Google LLC, Broadcom., Descartes Labs, Inc., Wipro Limited., Deere & Company, Granular, Inc., aWhere Inc., Apple Inc., Microsoft, MediaTek Inc., ANKI., and SoundHound Inc., among others.
Recent Developments
- In December 2020, Watson's capabilities have been enhanced by IBM in order to assist businesses in scaling AI adoption. Watson's new capabilities are aimed at improving AI automation and increasing the precision of AI prediction. With the help of NLP, IBM Discovery will be able to provide more precise answers to client queries.
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