North American AI in e-commerce market is projected to grow at a CAGR of 26.1% during the forecast period (2019-2025). E-commerce players have thousands of parcels to deliver at various locations globally. There is a high risk of an error occurring when performing this task manually. This fact has increased the demand for AI in e-commerce logistics. Further, the companies are introducing AI for minimizing errors while storing and delivering the product. The AI implementations in e-commerce logistics automate time-consuming actions and save money.
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As per the estimation by Capgemini, retailers could save as much as $340 billion by taking AI to scale across the value chain. In addition, AI inventory management implementation resulted in a 32% reduction in costs across the operation. Such cost efficiency offered by AI solutions has increased its adoption in the logistics industry and hence has driven the growth of North America AI in the e-commerce industry.
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E-commerce giants have started implementing AI in the warehouse for automating mundane tasks. For instance, Amazon has started using AI in 2019, for making efficient product procurement and for enhancing its one day and two days prime deliveries in the US. According to Amazon, the integration of AI and robotics at warehouses and fulfillment centers enabled the company to store up to 40% additional inventory. This, in turn, enables it to more rapidly fulfill one- or two-day shipping orders.
Market Coverage
- Study Period- 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- 2018 Market Value- $600 Million
- CAGR (2019-2025)- 26.1%
- Segments Covered- By Application
- Regions Covered- US and Canada
- Key Companies Profiled- Amazon.com Inc., IBM Corp., Google LLC, and Microsoft Corp.
- Start-Ups- Nuro, Wish Shopping, Riskified, True Fit, and Forter
Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and the coming years?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
North American AI in E-commerce Market – Segmentation
By Application
- Pricing & Promotion
- Supply Chain Management
- Marketing
- Others
North American AI in E-commerce Market – Segmentation by Region
- United States
- Canada
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
