The Artificial Intelligence In Marketing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Artificial Intelligence In Marketing, 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.
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.
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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
The advancement of technologies is seen as an emerging trend in artificial intelligence (AI) in marketing market. Software companies are bringing new advanced technology for automated and integrated business models. For instance, in September 2021, LionAI, a US-based artificial intelligence (AI) ad-tech analyzer, launched its one-of-a-kind ad-tech and marketing automation platform for higher education marketing leaders. Using paid media and programming, this service was created to effectively increase brand awareness and student enrollment. LionAI’s ad-tech, according to the company’s team, allows clients to increase their digital marketing yield by 20% or more in 30–60 days, depending on their traffic. As a result of eliminating wasted ad spending, universities will be able to scale their digital advertising while providing potential students with an unforgettable experience.
Major Players:
- IBM Corporation
- Salesforce. com Inc.
- Amazon. com Inc.
- Facebook Inc.
- Oracle corporation
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
5. Global Artificial Intelligence In Marketing Market Size and Growth
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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