ID: MRFR/ICT/5106-HCR | February 2021 | Region: Global | 100 pages
Artificial Intelligence in Marketing Market Overview:
Artificial intelligence (AI) in the marketing market was valued at a final figure of USD 6.46 billion during the historic forecast period that ended in 2028. With the rising momentum of artificial intelligence across various industries and market verticals, the global market is expecting interesting growth during the new and ongoing forecast period of 2021-2028. The market has been accessed based on the recent trends and the impact of the coronavirus pandemic in 2020. The artificial intelligence (AI) in marketing market is expected to generate a market value of USD 21 billion by 2023 growing at a CAGR of ~ 26%.
The technological enhancement brought in by the market products and services is likely to help the market players aim for new heights for the global artificial intelligence in marketing market growth and analysis during the forecast period of 2021-2028. Most of the enterprises and elaborated running businesses are increasing their demand and employing the use of artificial intelligence in various functional fields and departments and enhancing productivity to meet the market demand and supply related to the global target audience. The field of artificial intelligence presents a fruitful and reliable combination of computer science and robust datasets that presents the market with market expansion opportunities beneficial for the artificial intelligence in marketing market and its end-users during the forecast period that ends in 2028.
AI in Marketing Market COVID 19 Analysis:
Digitization was in trend for most of the production, manufacturing, and other functional units of various companies, industries, enterprises, and corporations. The positive cases of the novel coronavirus worldwide have added to the implementation of digital software and solutions to enhance productivity and enhance the ability of the market to meet and develop the global supply chain system and management. The need for survival amongst the global competition is pushing the market for the implementation of artificial intelligence in departments like marketing and promotion. The companies are facing major issues due to the arrival of the novel coronavirus pandemic and hence, are developing a major need for the implementation of AI services and solutions.
To help the global economy cope up with the stagnant approach introduced by the spread of the pandemic, the government is largely allocating budgets and investing in innovative strategies to come up with unique ways of implementing and understanding the scope of artificial intelligence. Also, the key market players are on the lookout for opportunities that will help in enhancing the marketing pathway of the global artificial intelligence in marketing market with innovative and strategic implementation of AI-based services, products, and solutions during the forecast period that ends in 2028.
Artificial intelligence in marketing market size is all set to increase and expand as per the prediction laid down by experts and leaders during the forecast period that ends in 2028. Collaborative robots have been designed with the help of features related to artificial intelligence and are designed to work in direct cooperation and provide full support to comply with humans in a well-defined workspace and professional expertise and environment. The devices, services, and products that have been designed based on the concept of artificial intelligence promise a better degree of productivity, reduction in downtime, and help with dividing and efficiently working towards a higher load capacity. These concepts also promise improvised safety in the manufacturing verticals by preventing accidents and injury to the workforce and other individuals.
Many global players, businesses, and verticals need implementation of the services rendered by the market but due to the lack of correct guidance and awareness, remain hesitant in doing so. The risk of implementing new strategies is one of the major restraints that is not letting the market grow as per the expected predictions and figures. Also, the rigidity prevailing in the market to stick to the traditional methods and the rise in speculations related to market loss introduced by the arrival of the pandemic are major concerns being faced by the artificial intelligence in marketing market and restricting the market to grow by the end of the forecast period in 2028.
Artificial intelligence is forming as a strong basis for the advancements in artificial intelligence and manage to find a relationship related to the intelligence and qualitative business process alongside the increasing demand for generative and efficient designs that promise an elaborated and widespread growth of market products and services of the global artificial intelligence in marketing market during the forecast period that ends in 2028. For the upcoming years, as a part of the global forecast period that is 2021-2028, the cross-vertical demand for collaborative and innovative robot technologies is likely to undergo a splendid increase and hence, has widened prospects to offer to the market for growth, expansion, and mergers, and acquisitions for the prominent players carrying out functions for the AI in marketing market growth at an elaborated scale.
AI in Marketing Market Segment Overview:
The artificial intelligence in marketing market share will increase as the market is becoming home to better sensors that are based on artificial intelligence and are also witnessing a profitable integration of ML and AI algorithms. This will have a positive impact on the functions undertaken by various market segments functioning across various global regions during the forecast period of 2021-2028. The artificial intelligence in marketing market has been segmented based on the following:
Based on deployment type:
The cloud deployment market is expecting maximum growth during the forecast period of 2021-2028. The deployment is also done on-premises.
Based on offering:
The offering segment of the artificial intelligence in marketing market includes software, hardware, and services.
Based on market end-users:
BFSI, automotive, education, manufacturing, healthcare, retail, consumer goods, enterprises, businesses, industries, media, and entertainment, amongst others.
Based on market technologies:
The technology segment of the artificial intelligence in marketing market is inclusive of computer vision, machine learning, natural language processing, and context-aware computing, amongst others.
AI in Marketing Market Regional Analysis:
The artificial intelligence in marketing market trends depicts that the APAC region consisting of countries like India, China, Japan, and South Korea, amongst others is likely to enjoy the highest CAGR growth during the forecast period that will end in 2028. The main reason which is pushing the APAC region for such a stupendous growth during the forecast period and enjoying a dominant position amongst the market operations is that there is wide adoption of AI services in the region. The prevalence of the adoption of the global market trends is bent towards end-user industries like media, entertainment, healthcare, medicine, pharmaceuticals, retail, BFSI, and social media advertising, amongst others during the forecast period of 2021-2028.
The report aims to draw a competitive graph amongst the prominent players of the artificial intelligence in marketing market that are located in various mushrooming regions across the globe. Also, the report aims to understand the steps taken by the companies to grow and dominate the global market operations. The key players of the market are as follows:
The global report presents an in-depth market analysis to predict the forecasted CAGR of the artificial intelligence in marketing market and the final market valuation during the forecast period of 2021-2028. The report helps in understanding the market insights in the form of the revenue potential possessed by the market segments and the performance of the key market players in 4 major regions across the globe. The report also elaborates the role of the market players by highlighting the recent developments undertaken by them during the forecast period of 2021-2028.
|Market Size||USD 21 Billion (2023)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Application, by Technology|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||IBM Corporation. (US), Google (US), Facebook. (US), Amazon.com, Inc. (US), Intel Corporation (US), Microsoft Corporation (US), NVIDIA Corporation (US), Salesforce.com, Inc. (US), Twitter (US), and Sentient Technologies Holdings Ltd (US).|
|Key Market Opportunities||The major factor influencing the growth of market in this region is well-established economies like the US, and Canada, that are spending a large share on research and development of AI algorithms and technologies such as machine learning,|
|Key Market Drivers||The growing demand for customer-driven marketing and advertisement are further expected to fuel market growth.|
Frequently Asked Questions (FAQ) :
The artificial intelligence in marketing market is likely to be driven by the rising demand for customer-driven marketing and advertisements.
The artificial intelligence in marketing market is expected to register 26% CAGR.
The artificial intelligence in marketing market is poised to be valued at USD 21 Bn by 2023.
By technology, the segments profiled are machine learning, natural language processing, adaptive learning, natural language generation, advanced analytics, speech recognition, and computer vision.
The key players of artificial intelligence in marketing market are IBM Corporation. (US) Facebook. (US), Google (US), Amazon.com, Inc. (US), Microsoft Corporation (US), Intel Corporation (US), NVIDIA Corporation (US), Twitter (US), Salesforce.com, Inc. (US), and Sentient Technologies Holdings Ltd (US).