Global Artificial Intelligence In Marketing Market Competitive Landscape, Top Market Segments, And Fastest Growing Regions
16 Mar, 2023
The global artificial intelligence in marketing market size grew from $17.48 billion in 2022 to $22.64 billion in 2023 at a compound annual growth rate (CAGR) of 29.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The artificial intelligence in marketing market size is expected to grow to $64.31 billion in 2027 at a CAGR of 29.8%.
Global Artificial Intelligence In Marketing Market Key Driver
The increasing adoption of virtual assistants is expected to drive the artificial intelligence in 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 publisehd 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.
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Global Artificial Intelligence In Marketing Market Segments
The global artificial intelligence in marketing market is segmented:
• By Technology: Machine Learning, Context-Aware Computing, Natural Language Processing, Computer Vision
• By Offering: Hardware, Software, Services
• By Deployment Type: Cloud, On Premises
• By Application: Social Media Advertising, Search Advertising, Dynamic Pricing, Virtual Assistant, Content Curation, Sales And Marketing Automation, Analytics Platform, Other Applications
• By Geography: The regions covered in the artificial intelligence in marketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global artificial intelligence in marketing market.
Major Artificial Intelligence In Marketing Industry Players
IBM, Salesforce, Amazon, Facebook, Oracle, Microsoft, NVIDIA, GumGum, Heuritech, Alphabet, Baidu, NetBase
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Artificial Intelligence In Marketing Market Overview
AI in marketing refers to obtaining and evaluating consumer data for making marketing decisions on behalf of an algorithm or machine learning engine that helps in making automated judgments that are based on data gathering, analysis, and further observations of the data from the audience or economic patterns that may influence marketing efforts.
Artificial Intelligence In Marketing Global Market Report 2023provides data on the global artificial intelligence in marketing market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The artificial intelligence in marketing market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.