London, Saturday, 03 December 2022
The drop shipping market is anticipated to develop at a compound annual growth rate (CAGR) of 27.46% to reach a value of $192.31 billion in 2022, according to The Business Research Company's "Drop Shipping Global Market Report 2022."
At least temporarily, the Russia-Ukraine conflict hampered the possibilities of a COVID-19 pandemic-related global economic rebound. Economic sanctions on several nations, a rise in commodity prices, and disruptions in the supply chain as a result of the conflict between these two nations have all had an impact on numerous markets around the world.
With a compound annual growth rate (CAGR) of 31.14%, the drop shipping industry is anticipated to reach $568.74 billion in 2026. The drop shipping market is anticipated to be driven by the expansion of the e-commerce sector.
A significant market trend is the incorporation of artificial intelligence (AI) into the drop shipping industry. Major businesses are incorporating AI into the current systems. AI technology has advantages including personalisation, process automation, data analysis, and data elimination.
In 2021, for instance, AliDropship, a US-based affiliate of Ali Express for the drop shipping industry, unveiled Sellika, a new AI product description generator to automate product descriptions. This plugin provides a stop word list for titles, helps with modifying product descriptions, colours, and category descriptions.
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(Source: EIN PRESSWIRE // Edit by: The Decision Maker – Finance editors)