The global artificial intelligence (AI) in marketing market is projected to register a CAGR of 26.58% during the forecast period, 2021-2028. The growing demand for consumer-centric services, increasing use of social media, and rising digitalization and internet penetration propel market growth.
AI marketing entails the use of artificial intelligence technologies for making data-driven business decisions on the basis of data analysis, data collection, and economic trends that impact marketing efforts. Also, the changing consumer dynamics have resulted in a large amount of consumers’ data, further used to sustain the competition.
The increasing digitalization and internet penetration are among the key drivers of market growth. Digitalization is a global trend and propels the modern economy. It is essential to change a business model, and offers new value and revenue-producing opportunities. Also, the digital economy is central to innovations, economic growth, and competitiveness. In addition, its purpose is to automate, collect & structure data, and increase data quality for use in innovations and technological advancements.
Further, such aspects have led to increased internet penetration. A growing number of people access the internet to search for products online, entertainment, business, and connect with friends & family. This has also resulted in the large availability of users’ data. This further becomes a key resource for companies incorporating AI, particularly in marketing. Additionally, companies can get detailed insights into consumer behavior like product choices, the latest trends, and other important information, that benefit their business.
The global artificial intelligence (AI) in marketing market growth assessment includes the analysis of North America, Europe, Asia-Pacific, and Rest of World. In 2020, North America had the largest revenue share in the global market. The increasing adoption of big data, rising investment in research & development of AI by tech giants, and analytics by small and large businesses drive market growth in North America.
The big tech giants are competing at global and regional levels. Also, these players are engaged in mergers and acquisitions to increase their market share. As a result, the competitive rivalry is high. Google Llc, Salesforce, Baidu Inc, Facebook Inc, Microsoft Corporation, etc., are among the key firms in the market.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments