What are the Historical Developments and Current Growth Metrics of the Generative AI In Marketing Market?
The generative ai in marketing market has seen considerable growth due to a variety of factors.
• The market size of generative AI in marketing has witnessed a dramatic rise in the past years. It's projected to increase from a figure of $3.64 billion in 2024 to $4.92 billion in 2025, with a compound annual growth rate (CAGR) of 35.3%.
The significant expansion in the previous periods can be linked to the advancement of AI algorithms, an increase in data quantities, a drop in costs, proliferating digitalization, and the boom in e-commerce.
What is the Forecasted Market Size and CAGR for the Generative AI In Marketing Market?
The generative ai in marketing market is expected to maintain its strong growth trajectory in upcoming years.
• The market for generative AI in marketing is projected to experience rapid growth in the coming years. It's forecasted to soar to $16.3 billion by 2029, with a compound annual growth rate of 34.9%.
The expansion is due to factors like the rise of content marketing, influencer marketing becoming prevalent, personalization of customer journeys, ethical AI implementations, and a growing demand for AI-produced content. Key trends during the forecast period encompass AI-fueled content production, hyper-personalization, incorporation of predictive analytics, AI supreme collaborative creation, and regulatory compliant solutions.
What Key Factors and Trends Are Driving The Growth Generative AI In Marketing Market?
The expansion of the e-commerce sector is predicted to stimulate the generative AI in marketing market's growth. E-commerce signifies transactions involving goods and services across the Internet or any other digital channels. Several factors, such as escalating internet access, evolving consumer inclination towards online shopping, convenience, and improvements in logistics and payment platforms, contribute to e-commerce's growth. Generative AI in marketing finds utilization in e-commerce to personalize product suggestions, formulate targeted advertising content, and generate appealing product details aligned with individual customer tastes, thereby boosting the overall shopping experience and escalating sales. As an illustration, the United States Census Bureau, a US-based government entity, reported in February 2024 that total retail e-commerce sales escalated to $1,831.4 billion in the fourth quarter of 2023, which is a 0.4% increase compared to the third quarter of that year. Hence, the surging growth of e-commerce is a driving force for the expansion of the generative AI in marketing market.
What Are The Market Segments In The Generative AI In Marketing Market?
The generative AI in marketing market covered in this report is segmented –
1) By Component: Service, Software
2) By System Type: Text Models, Multimodal Models
3) By Application: Content Generation, Search Engine Optimization (SEO), Lead Nurturing And Lead Scoring, Reporting And Analytics, Social Media marketing, Other Applications
4) By End-Use: Media And Entertainment, Information Technology And Telecommunications, Healthcare, Automotive And Transportation, Banking, Financial Services, And Insurance, Retail And E-commerce, Other End-Use Industries
Subsegments:
1) By Service: Consulting And Strategy Development, Integration And Implementation Services, Support And Maintenance, Training And Education
2) By Software: Content Generation Tools, Customer Segmentation And Targeting Software, Predictive Analytics Tools, Chatbots And Virtual Assistants
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What Trends Are Reshaping The Future Of The Generative AI In Marketing Market?
Prominent players in the generative AI in marketing sector are creating innovative solutions, leveraging AI technology to better the creative process and effectiveness of marketing ventures. Through generative AI, marketers have the capability to streamline creative operations, boost campaign outcomes, and offer more engaging and tailored experiences to their customers, thereby achieving superior results and ROI for their marketing initiatives. For instance, AppsFlyer, a US analytics firm, in January 2023, introduced Creative Optimization, a fresh AI-driven solution meant to improve the creative process and success of marketing campaigns. This tool equips marketers with important insights and data-oriented instructions to amplify the influence of their creative resources. Creative Optimization picks up on trends and aspects that catalyze maximum audience involvement, enabling marketers to make knowledgeable choices and elevate campaign effectiveness. This solution fosters cooperation among performance marketing, creative and BI teams, leading to more productive and thriving campaigns.
Who Are the Key Players In The Generative AI In Marketing Market?
Major companies operating in the generative AI in marketing market report are:
• Alphabet Inc.
• Microsoft Corporation
• Amazon Web Services
• International Business Machines Corporation (IBM)
• Baidu Inc.
• Adobe Inc.
• OpenAI
• Zeta Global.
• Appier Inc.
• Persado Inc.
• Benchsci Inc.
• Bluecore Inc.
• Bizzabo Ltd.
• Conversica Inc.
• Cognitivescale Inc.
• Acquisio Inc.
• Brighterion Inc.
• ClarifAI Inc.
• B12 Inc.
• AYLIEN Ltd.
• Synthesis AI
• Amplero Inc.
• Genie Artificial Intelligence Ltd.
• MOSTLY AI Inc.
• Rephrase.AI
What Are The Regional Insights Into The Generative AI In Marketing Market?
North America was the largest region in the generative AI in marketing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative AI in marketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
