Artificial Intelligence in Marketing Segments
“The Business Research Company recently released a comprehensive report on the analysis of global artificial intelligence in marketing market size and trends with forecast 2024-2033. This latest market research report offers a wealth of valuable information and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and data critical to success in the industry.
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According to The Business Research Company, artificial intelligence in marketing market size has grown exponentially in recent years. It will grow from $22.01 billion in 2023 to $28.37 billion in 2024, at a compound annual growth rate (CAGR) of 28.9%. The growth during the historical period can be attributed to skill development and talent acquisition, data explosion and big data analytics, customer personalization and segmentation, analytics and predictive forecasting, to marketing automation platforms.
Artificial intelligence in marketing market size is expected to grow exponentially in the coming years. It will reach $80.3 billion in 2028, at a compound annual growth rate (CAGR) of 29.7%. The growth during the forecast period can be attributed to increasing integration of AI in e-commerce, focus on explainable AI and ethical marketing practices, greater adoption of AI for customer segmentation, advances in image and video recognition, enhanced personalization strategies and advanced predictive analytics. .. Key trends in the forecast period include AI-enhanced customer journey mapping, real-time analytics for actionable insights, AI in email marketing optimization, customer recognition emotions and sentiment analysis, visual search optimization.
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Market Drivers and Trends:
The growing adoption of virtual assistants is expected to boost artificial intelligence in the marketing market. Virtual assistants are services over the Internet or a dedicated network with on-demand delivery. Due to the pandemic and lockdowns, small and medium-sized businesses are increasingly focusing on streamlining their business models by adopting virtual assistants. For example, in April 2022, ThriveMyWay published an article that chatbot e-commerce transactions are expected to reach $112 billion by 2023. Conversational technologies such as virtual agents and chatbots can help businesses save up to ‘30% off customer support costs. Therefore, the increasing adoption of virtual assistants will increase the demand for artificial intelligence amid the growing marketing market.
Product innovations have become the key trend gaining popularity in the 5G chipset market. Leading market players are developing innovative products for the growth of the market. For example, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16-compliant chipsets, a line of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem system-on-chip (SoC), a third-generation mmWave radio frequency integrated circuit (RFIC) chip, and a Digital Front End (DFE) integrated chip – RFIC. These are designed to increase energy efficiency, improve performance and reduce the size of 5G solutions.
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Top Key Market Players:
IBM Corporation, Salesforce. com Inc., Amazon. com Inc., Facebook Inc., Oracle Corporation, Appier Inc., GumGum Inc., Heuritech SAS, NetBase Quid Inc., Quantcast Corporation, Persado Inc., Albert Technologies Ltd., Affectiva Inc., Conversica Inc., Brave Bison Group plc, War Room Inc., SmallGiants LLC, Shout Digital Ltd., Major Tom Inc., Blueshift Labs Inc., iKala Interactive Media Inc., Amplero Inc., Clickstrike Inc., Avantgrade LLC, NoGood Inc., Single Grain LLC, Matrix Marketing Group LLC, Near Pte Ltd., Pixis Interactive Inc., Adobe Sensei
Artificial Intelligence in Marketing Market 2024 Key Insights:
• Artificial intelligence in marketing market size is expected to grow exponentially in the coming years. It will reach $80.3 billion in 2028, at a compound annual growth rate (CAGR) of 29.7%.
• Growing adoption of virtual assistants
• Launch of innovative technological solutions
• Asia Pacific was the largest region in the artificial intelligence in marketing market in 2023.
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