Global Artificial Intelligence In Marketing Market Insights Forecasts to 2032
- The Artificial Intelligence In Marketing Market Size was valued at USD 12.35 Billion in 2022.
- The Market is Growing at a CAGR of 22.5% from 2022 to 2032.
- Global Artificial Intelligence In Marketing Market Size is expected to reach USD 93.98 Billion by 2032.
- Asia-Pacific is expected to grow fastest during the forecast period.
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The Global Artificial Intelligence In Marketing Market Size is expected to reach USD 93.98 Billion by 2032, at a CAGR of 22.5% during the forecast period 2022 to 2032.
Artificial Intelligence (AI) has revolutionized the field of marketing by offering advanced capabilities that enhance customer targeting, engagement, and overall campaign effectiveness. AI-powered tools enable marketers to analyze vast amounts of data, extract valuable insights, and make data-driven decisions with greater accuracy and efficiency. Machine learning algorithms can segment customers based on their preferences and behaviors, allowing for personalized and targeted marketing campaigns. AI also enables predictive analytics, forecasting future trends and customer behavior, helping marketers optimize their strategies and allocate resources effectively. Chatbots powered by AI provide instant customer support, enhancing the overall user experience. Additionally, AI can automate repetitive tasks such as content creation, ad optimization, and email marketing, freeing up time for marketers to focus on strategic initiatives. By leveraging the power of AI, marketers can achieve greater efficiency, improve customer engagement, and drive better business results in an increasingly competitive digital landscape.
This research report categorizes the market for artificial intelligence in marketing market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the artificial intelligence in marketing market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the artificial intelligence in marketing market.
Global Artificial Intelligence In Market Report Coverage
|Market Size in 2022:||USD 12.35 Billion|
|Forecast Period 2022-2032 CAGR:||22.5%|
|2032 Value Projection:||USD 93.98 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||120|
|Segments covered:||COVID-19 Impact Analysis, By Type , By Technology , By Application, By End-User, By Region|
|Companies Covered:||IBM Corporation, Google LLC, Amazon.com, Inc., Intel Corporation, Microsoft Corporation, NVIDIA Corporation, Micron Technology, Inc., Salesforce.com, Inc., Twitter, Inc., Baidu, Inc., Samsung, Albert Technologies, Oracle Corporation, H2O.ai., O360, and Key venders|
|Pitfalls & Challenges:||COVID-19 Empact,Challenges, Future, Growth, & Analysis|
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The drivers of the artificial intelligence (AI) in marketing market are multifaceted and have contributed to its rapid growth, such as the availability of massive amounts of data and advancements in computing power have facilitated AI's ability to analyze and process data effectively. Additionally, the increasing demand for personalized and targeted marketing campaigns has created a need for AI-powered tools that can segment customers and deliver tailored content. Moreover, the rise of digital platforms and social media has generated a vast ecosystem of consumer data, necessitating AI solutions to derive meaningful insights. The potential for cost reduction and operational efficiency through the automation of repetitive marketing tasks has also propelled AI adoption. Overall, the continuous advancements in AI technology, such as natural language processing and computer vision, have expanded the capabilities of AI in marketing, driving its market growth.
While artificial intelligence (AI) in marketing offers numerous advantages, there are also several restraints that need to be considered because privacy concerns arise due to the collection and utilization of vast amounts of customer data, raising ethical questions and potential breaches. Additionally, the complexity and cost associated with implementing AI systems can be a barrier for some businesses, especially small and medium-sized enterprises. The lack of skilled AI professionals capable of effectively utilizing and managing AI tools is another restraint. Moreover, the potential for AI algorithms to perpetuate biases and discriminatory practices requires careful monitoring and regulation.
- In 2022, the virtual assistance segment accounted for around 26.2% market share
On the basis of the application, the global artificial intelligence in marketing market is segmented into sales forecasting, content curation, virtual assistance, predictive analytics, ad optimization, dynamic pricing, and others. The virtual assistance segment has emerged as the dominant player, holding the largest market share in the field of artificial intelligence (AI) in marketing. There are several factors contributing to its significant market presence, the virtual assistants have become increasingly popular in providing personalized and interactive customer experiences. They can handle customer queries, provide product recommendations, and offer support, all in a conversational manner, enhancing customer engagement. The advancements in natural language processing (NLP) and speech recognition technologies have significantly improved the accuracy and capabilities of virtual assistants, making them more reliable and efficient. Additionally, the rise of voice-activated devices and smart speakers has further fueled the demand for virtual assistants, as they become integral parts of households and consumers' daily lives. Moreover, businesses across various industries are integrating virtual assistants into their marketing strategies to streamline customer service, automate tasks, and deliver personalized experiences at scale. The convenience, round-the-clock availability, and cost-effectiveness of virtual assistants make them a compelling solution for businesses seeking to enhance customer interactions and drive marketing efficiency.
- The on-cloud segment is expected to grow at a CAGR of around 20.8% during the forecast period
Based on the type, the global artificial intelligence in marketing market is segmented into on-cloud and on-premise. The on-cloud segment is anticipated to experience substantial growth during the forecast period in the artificial intelligence (AI) in marketing market. This growth can be attributed to the increasing adoption of cloud computing across industries provides a scalable and cost-effective infrastructure for deploying AI solutions. The on-cloud approach eliminates the need for businesses to invest in on-premises hardware and software, reducing upfront costs and improving accessibility. The cloud platforms offer flexibility and agility, enabling businesses to easily scale their AI capabilities based on changing marketing needs and demands. Additionally, cloud-based AI solutions provide real-time data processing, analysis, and storage, allowing for faster insights and decision-making. Moreover, cloud service providers offer a wide range of AI tools and services, making it easier for businesses to integrate AI functionalities into their marketing operations. The on-cloud approach also facilitates collaboration and data sharing among team members, streamlining marketing workflows. Overall, the on-cloud segment offers numerous advantages, driving its growth as businesses increasingly recognize the benefits of cloud-based AI solutions in marketing.
Regional Segment Analysis of the Artificial Intelligence In Marketing Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America dominated the market with more than 35.2% revenue share in 2022.
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Based on region, North America has emerged as the dominant region in the artificial intelligence (AI) in marketing market, holding the largest market share. Many reasons contribute to its leading position, such as North America having a highly developed digital infrastructure, including advanced telecommunications networks, widespread internet access, and robust cloud computing capabilities. This facilitates the collection, storage, and processing of large volumes of data, which is crucial for AI applications in marketing. The region is home to numerous tech giants, innovative startups, and research institutions actively engaged in AI development, fostering a thriving ecosystem. Moreover, North American companies are early adopters of AI technologies, recognizing their potential to gain a competitive edge in the dynamic marketing landscape. Additionally, the presence of a large customer base and strong purchasing power further drives the demand for AI solutions in marketing.
- In February 2023, Dealtale, a Vianai Company and the market leader in causal AI for marketers, today unveiled Marketing Co-pilot, a ChatGPT-like feature that allows marketers to ask complex questions about their past, present, and future performance metrics and get immediate answers based on data from all components of their marketing and sales stack, including Salesforce, HubSpot, Google Analytics, and social media channels.
- In December 2022, Octo was purchased by IBM, making it one of the biggest partners in the federal government's digital transformation. Increasing its capacity to support federal agencies with a flexible, modern approach to digital transformation, IBM Consulting's public and federal market organization will be able to do so as it expands to 4,200 highly skilled workers. Along with certifications in the technologies that are most often used throughout the government and strong knowledge of federal missions, Octo also has a track record of facilitating quick IT transformation and smooth public involvement.
The report offers the appropriate analysis of the key organizations/companies involved within the global artificial intelligence in marketing market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Companies:
- IBM Corporation
- Google LLC
- Amazon.com, Inc.
- Intel Corporation
- Microsoft Corporation
- NVIDIA Corporation
- Micron Technology, Inc.
- Salesforce.com, Inc.
- Twitter, Inc.
- Baidu, Inc.
- Albert Technologies
- Oracle Corporation
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture Capitalists
- Value-Added Resellers (VARs)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global artificial intelligence in marketing market based on the below-mentioned segments:
Artificial Intelligence In Marketing Market, By Type
Artificial Intelligence In Marketing Market, By Technology
- Machine Learning
- Adaptive Learning
- Natural Language Processing
- Natural Language Generation
- Speech Recognition
- Advanced Analytics
- Computer Vision
Artificial Intelligence In Marketing Market, By Application
- Sales Forecasting
- Content Curation
- Virtual Assistance
- Predictive Analytics
- Ad Optimization
- Dynamic Pricing
Artificial Intelligence In Marketing Market, By End-User
- Retail & E-Commerce
- IT & Telecommunication
- Commercial Organizations
Artificial Intelligence In Marketing Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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