The Artificial Intelligence in Marketing Market was valued at US$ 12,044.46 million in 2020 and is projected to reach US$ 107,535.57 million by 2028; it is expected to grow at a CAGR of 31.6% during 2021–2028.
Artificial intelligence in marketing helps the marketers to leverage customer's data to draw important insights like buying behavior of the customer. Artificial Intelligence in marketing makes use of various concepts like machine learning to know the pattern of the consumer which helps the companies to plan their next move accordingly. Artificial Intelligence in marketing is used in various applications such as dynamic pricing, social media advertising, and sales & marketing automation among others.
The use of artificial intelligence in marketing helps the marketers to use customer's data to draw important insights of their buying behavior and preferences, among others. It is used in applications such as dynamic pricing, social media advertising, and sales & marketing automation. Artificial intelligence uses concepts such as machine learning to know these patterns, which helps companies to plan their next move accordingly. In the recent years, there has been an unprecedented increase in social media engagement . According to DIGITAL 2021, ~0.5 billion new users joined the world's social media networks in the beginning of 2021. Moreover, in January 2021, there were 4.20 billion social media users worldwide. This number has increased by 490 million in the last year, representing year-on-year growth of more than 13%. During 2020, more than 1.3 million new users joined the social media streams on average every day, i.e., ~15½ new users every second.
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The COVID-19 virus outbreak has been affecting every business globally since December 2019. The continuous growth in the number of virus-infected patients has governments to put a bar on transportation of humans and goods. However, on the contrary, COVID-19 on the other side is anticipated to accelerate private 5G and LTE adoption. Among B2C and consumer, the data consumption is expected to grow as social distancing continues. Also, the enterprises pivot to digital models and function virtually, the rate of data consumption will endure to boom and as result creating demand for establishing connectivity-centric ecosystem.
The Industrial Bank of Korea (IBK), European Association for Artificial Intelligence (EurAI), European Lab for Learning & Intelligent Systems (ELLIS), Organization for Economic Co-operation and Development, and Association for the Advancement of Artificial Intelligence (AAAI) are among the prime secondary sources referred to while preparing this report.
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Artificial Intelligence in Marketing Market – by Offering
• Solutions
• Services
Artificial Intelligence in Marketing Market – by Application
• Social Media Advertising
• Search Advertising
• Dynamic Pricing
• Virtual Assistant
• Content Curation
• Sales & Marketing Automation
• Analytics Platform
• Others
Artificial Intelligence in Marketing Market – by End User
• BFSI
• Retail
• Consumer Goods
• Media and Entertainment
• Others
Artificial Intelligence in Marketing Market – by Geography
• North America
o US
o Canada
o Mexico
• Europe
o France
o Germany
o Italy
o UK
o Russia
o Rest of Europe
• Asia Pacific (APAC)
o China
o India
o Japan
o Australia
o South Korea
o Taiwan
o Rest of Asia Pacific
• Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o UAE
o Rest of Middle East &Africa
• South and Central America (SCAM)
o Brazil
o Argentina
o Rest of South and Central America
Company Profiles
1. Affectiva
2. Appier Inc.
3. Bidalgo
4. Novantas (Amplero), Inc.
5. CognitiveScale
6. SAS Institute Inc.
7. SAP SE
8. Salesforce.com, inc.
9. Oracle Corporation
10. IBM Corporation
11. Amazon Web Services
12. Adobe
13. Accenture
14. Microsoft Corporation
15. Xilinx, Inc.
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