Content area
Full text
M2 PRESSWIRE-September 27, 2021-Commerce Artificial Intelligence Market Size Anticipated to Grow at a CAGR of 40.10% During the Forecast Period 2021-2026
(C)2021 M2 COMMUNICATIONS http://www.m2.com
September 27, 2021
Increasing Use of AI in Customer Relationship Management Driving the Growth of Commerce Artificial Intelligence Market.
Global Commerce Artificial Intelligence Market generated a value of $1,524.3 million in 2020 and is estimated to reach $10,164.7 million by 2026, growing at a CAGR of 40.10% during the forecast period of 2021-2026. Artificial Intelligence in commerce enables faster business decisions based on outputs from cognitive technologies and saves time and money by automating and optimizing routine processes and tasks. Business leaders are looking for the ways to sharpen their competitive edge, and are implementing AI to improve the standards, customer experience, and revenues and fast processing. Commerce Artificial Intelligence (AI) is set to pave the way for the smart commercialism in industries like food & beverages, electronics, fashion and all other sectors, where processes can be optimized by machine learning and predicting the human behavior. Commerce AI Market is majorly driven by increased usage of artificial intelligence in customer relationship management, warehouse automation and in online stores, especially in clothing. The expanding investments in AI-based solutions along with the rising machine ability for verdict creation from trillion bytes of online data is estimated to drive the market growth during the forecast period 2021-2026.
Commerce Artificial Intelligence Market Segment Analysis - By Platform
By Platform, In Store segment held the major share in 2020 with a revenue of 943.78 million and is estimated to reach 5,407.55m growing at a CAGR of 36.60% during the forecast period 2021-2026. However, E-Commerce segment is estimated to grow at a fastest rate CAGR of 44.84% during the forecast period 2021-2026. Commerce Artificial Intelligence, which has started showing effect on different industries such as marketing, finance, healthcare, and more, is now being used in the area of e-commerce. It is predicted to see a huge surge of Commerce artificial Intelligence in e-commerce, and this technology is used to develop valuable business insights. Today, Commerce AI is modifying the way in which e-commerce stores function and offer the services to their customers. Some of the ways in which commerce artificial intelligence is changing field of online...