10 AI In Ecommerce Trends & Statistics You Need To Know In 2024
DealAid curates artificial intelligence (AI) statistics in ecommerce from public data, private organizations and other sources. You will find key trends and statistics for artificial intelligence in ecommerce below. Please refer to the footnotes for original data sources.
*This resource will be updated with more statistics when more data becomes available.
1. Artificial Intelligence (AI) in ecommerce market is expected to reach $6 billion in 2023.
The adoption of artificial intelligence (AI) technology in ecommerce is poised to witness substantial growth in the near future, with market projections suggesting that the AI in ecommerce market is expected to reach a value of $6 billion in 2023, driven by the growing recognition of the potential benefits of AI in enhancing customer engagement and retention, optimizing supply chain operations, and boosting sales and revenue growth, as well as the increasing availability of advanced AI-based solutions tailored to the specific needs and requirements of the ecommerce industry.
2. Artificial intelligence in ecommerce market is projected to grow at 40% CAGR and reach $63.5 billion by 2030.
The artificial intelligence (AI) in ecommerce market is poised for exponential growth in the coming years, with an estimated compound annual growth rate (CAGR) of 40%, and is expected to reach a staggering market value of $63.5 billion by the year 2030, propelled by the increasing demand for AI-based solutions that can help retailers to streamline their operations, improve efficiency, and offer personalized experiences to their customers, while driving revenue growth and gaining a competitive edge in the rapidly evolving ecommerce landscape.
3. 51% of ecommerce retailers currently use AI in their business operations.
The adoption of artificial intelligence (AI) technology in ecommerce has gained significant traction in recent years, with over half (51%) of online retailers currently utilizing AI-based solutions to enhance their business operations, optimize their marketing strategies, and improve customer experience, highlighting the growing importance and potential benefits of AI in driving innovation and growth in the ecommerce industry.
4. 52% of online shoppers feel more secure about their data when shopping online if AI is used to protect their data.
According to a recent survey, a significant majority of online shoppers (52%) reported feeling more confident and reassured about the security of their personal information when shopping online, when AI-based solutions are employed to safeguard their data from potential cyber threats and breaches, underscoring the critical role of AI in building consumer trust and confidence in the ecommerce ecosystem.
5. Integration of AI voice and visual search on ecommerce websites is estimated to increase revenue by up to 30%.
The integration of advanced AI-powered voice and visual search capabilities on ecommerce websites has been identified as a highly promising strategy for enhancing customer engagement and boosting sales, with industry projections suggesting that the adoption of these technologies could potentially result in revenue growth of up to 30%, by enabling more efficient and personalized product discovery and facilitating seamless and intuitive shopping experiences for customers.
6. Asia Pacific had the largest market of $1.6 billion or 37.2% for AI in ecommerce in 2022.
As of 2022, the Asia Pacific region emerged as the largest and fastest-growing market for the integration of artificial intelligence in ecommerce, accounting for a substantial share of $1.6 billion or 37.2% of the total market, driven by the region’s rapidly expanding ecommerce industry and the increasing adoption of advanced AI technologies in various applications, such as personalized recommendations, supply chain optimization, and customer service automation.
7. Amazon used AI to optimize shipping and cut down cost by more than 50% on deliveries.
Amazon, a global leader in ecommerce, leveraged the power of artificial intelligence to streamline and optimize its shipping operations, resulting in a remarkable reduction of more than 50% in delivery costs, a testament to the transformative potential of AI in enabling businesses to achieve operational efficiencies and drive profitability.
8. AI chatbots are estimated to decrease customer service cost for ecommerce websites by up to 30%.
Based on industry analysis and market research, it has been projected that the implementation of AI-powered chatbots on ecommerce websites has the potential to significantly reduce the cost of customer service operations, with estimated savings reaching as high as 30%, thus enabling businesses to optimize their resource allocation and achieve greater efficiency in serving their customers.
9. Shopping personalization (70%) is the most cited artificial intelligence use case by ecommerce executives.
In a survey conducted among ecommerce executives, the most frequently cited application of artificial intelligence in this field was shopping personalization, which accounted for 70% of the total responses, indicating the high level of interest and recognition of the potential benefits of this technology for enhancing the customer experience and driving sales growth.
10. Machine learning, natural language processing and deep learning are most popular AI integrated technologies in ecommerce.
In the realm of ecommerce, the integration of artificial intelligence is predominantly characterized by the implementation of cutting-edge technologies such as machine learning, natural language processing, and deep learning, which have emerged as the most sought-after and widely adopted AI-based solutions in ecommerce application of chatbots, price and shipping optimization, recommendation and search.