Overview and Scope
AI in marketing refers to obtaining and evaluating consumer data for making marketing decisions on behalf of an algorithm or machine learning engine that helps in making automated judgments that are based on data gathering, analysis, and further observations of the data from the audience or economic patterns that may influence marketing efforts.
Sizing and Forecast
The artificial intelligence in marketing market size has grown exponentially in recent years. It will grow from $22.01 billion in 2023 to $28.37 billion in 2024 at a compound annual growth rate (CAGR) of 28.9%. The growth in the historic period can be attributed to skills development and talent acquisition, data explosion and big data analytics, personalization and customer segmentation, predictive analytics and forecasting,marketing automation platforms..
The artificial intelligence in marketing market size is expected to see exponential growth in the next few years. It will grow to $80.3 billion in 2028 at a compound annual growth rate (CAGR) of 29.7%. The growth in the forecast period can be attributed to increasing integration of ai in e-commerce, focus on explainable ai and ethical marketing practices, greater adoption of ai for customer segmentation, advancements in image and video recognition, enhanced personalization strategies, advanced predictive analytics.. Major trends in the forecast period include ai-enhanced customer journey mapping, real-time analytics for actionable insights, ai in email marketing optimization, emotion recognition and sentiment analysis, visual search optimization..
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The artificial intelligence in marketing market covered in this report is segmented –
1) By Technology: Machine Learning, Context-Aware Computing, Natural Language Processing, Computer Vision
2) By Offering: Hardware, Software, Services
3) By Deployment Type: Cloud, On Premises
4) By Application: Social Media Advertising, Search Advertising, Dynamic Pricing, Virtual Assistant, Content Curation, Sales And Marketing Automation, Analytics Platform, Other Applications
Asia-Pacific was the largest region in the artificial intelligence in marketing market in 2023. The regions covered in the artificial intelligence in marketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing adoption of virtual assistants is expected to drive artificial intelligence in the marketing market. Virtual assistants are services over the internet or dedicated network with delivery on demand. Due to the pandemic and lockdowns, small and medium-scale enterprises are increasingly focusing on streamlining their business models by adopting virtual assistants. For instance, in April 2022, ThriveMyWay published an article which states that chatbot ecommerce transactions is projected to hit $112 billion by 2023. Conversational technologies such as virtual agents and chatbots can help businesses save up to 30% on customer support costs. Hence, the increasing adoption of virtual assistants will increase the demand for artificial intelligence in the marketing market growth.
Key Industry Players
Major companies operating in the artificial intelligence in marketing market report are IBM Corporation, Salesforce. com Inc., Amazon. com Inc., Facebook Inc., Oracle corporation, Appier Inc., GumGum Inc., Heuritech SAS, NetBase Quid Inc., Quantcast Corporation, Persado Inc., Albert Technologies Ltd., Affectiva Inc., Conversica Inc., Brave Bison Group plc, War Room Inc., SmallGiants LLC, Shout Digital Ltd., Major Tom Inc., Blueshift Labs Inc., iKala Interactive Media Inc., Amplero Inc., Clickstrike Inc., Avantgrade LLC, NoGood Inc., Single Grain LLC, Matrix Marketing Group LLC, Near Pte Ltd., Pixis Interactive Inc., Adobe Sensei
The artificial intelligence in marketing market report table of contents includes:
1. Executive Summary
2. Artificial Intelligence In Marketing Market Characteristics
3. Artificial Intelligence In Marketing Market Trends And Strategies
4. Artificial Intelligence In Marketing Market – Macro Economic Scenario
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31. Global Artificial Intelligence In Marketing Market Competitive Benchmarking
32. Global Artificial Intelligence In Marketing Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Artificial Intelligence In Marketing Market
34. Artificial Intelligence In Marketing Market Future Outlook and Potential Analysis
