New York, United States, January 25, 2024 (GLOBE NEWSWIRE) — Global artificial intelligence in marketing market size to grow from $12.35 billion in 2022 to $93.98 billion by 2032, at a compound annual growth rate (CAGR). by 22.5% during the forecast period.
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Artificial intelligence (AI) has transformed marketing by leveraging data analytics, machine learning, and automation. AI-based tools enable marketers to process large amounts of data, extract valuable insights, and make data-driven decisions. Personalization and targeted campaigns are made possible thanks to AI’s ability to segment customers based on their preferences and behaviors. Predictive analytics helps predict trends and optimize strategies, while chatbots improve customer support. Automation streamlines repetitive tasks like content creation and ad optimization, freeing up time for strategic initiatives. Using AI, marketers can achieve greater efficiency, improve customer engagement, and drive business results in an increasingly competitive digital landscape.
Browse key industry insights spread across 200 pages with 120 market data tables, figures and graphs of the report on “Global Artificial Intelligence in Marketing Market Analysis of the size, share and impact of COVID-19, By type (cloud and on-premises), by technology (machine learning, adaptive learning, natural language processing, natural language generation, speech recognition, advanced analytics and computer vision), by application (sales forecasting, content curation , virtual Assistance, predictive analytics, ad optimization, dynamic pricing and others), by end user (BFSI, retail and e-commerce, government, IT and telecom, healthcare, commercial organizations and others), By region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), analysis and forecast 2023-2032. »
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The natural language processing segment is expected to grow at a CAGR of around 22.3% during the forecast period.
Based on this technology, the global artificial intelligence on marketing market is segmented into machine learning, adaptive learning, natural language processing, natural language generation, speech recognition, advanced analytics, and computer vision. The natural language processing (NLP) segment is expected to witness significant growth during the forecast period in the field of artificial intelligence (AI) in marketing. NLP technology enables AI systems to understand and interpret human language, facilitating effective communication and engagement with customers through chatbots, voice assistants and sentiment analysis. The growing volume of unstructured text data, such as social media posts, customer reviews, and emails, requires advanced NLP capabilities to extract meaningful insights. Additionally, advancements in machine learning algorithms and neural networks have improved the accuracy and performance of NLP models, thereby driving the adoption of NLP in marketing applications.
The IT and telecommunications segment is expected to grow at a CAGR of around 21.8% during the forecast period.
Based on end user, the global artificial intelligence in marketing market is segmented into BFSI, retail & e-commerce, government, IT & telecom, healthcare, business organizations and others. The IT and telecommunications segment is expected to witness substantial growth during the forecast period in the artificial intelligence (AI) in marketing market. Several factors are contributing to this anticipated expansion, for example the IT and telecommunications sector is a pioneer in adopting advanced technologies and AI is considered a revolutionary factor in improving marketing strategies. AI-based solutions enable telecom companies to analyze large amounts of customer data, personalize offers, optimize prices and improve customer experience. Additionally, AI can automate customer support through chatbots, reducing response times and improving satisfaction. Additionally, the growing adoption of AI-based analytics tools in the IT industry is enabling businesses to gain valuable insights into market trends, customer behavior, and competitor analysis, thereby enabling to make more informed marketing decisions.
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Asia Pacific is expected to grow the fastest at around 23.2% over the projected period.
Based on region, Asia Pacific is expected to witness the fastest growth in the artificial intelligence (AI) marketing market during the forecast period. The region has a massive population and a growing middle class, representing a large consumer market for businesses to target. Additionally, countries in the Asia-Pacific region have invested heavily in digital infrastructure, driving widespread internet adoption and facilitating data-driven marketing initiatives. Additionally, the region is seeing an increase in e-commerce and mobile usage, providing fertile ground for AI-driven marketing strategies. Additionally, governments and businesses in the Asia-Pacific region are increasingly recognizing the potential of AI to drive economic growth and competitiveness, leading to greater investments in research, development and implementation of AI.
Competitive analysis:
The report offers the apt analysis of the major organizations/firms involved in the global market along with a comparative assessment primarily based on their product offering, business overviews, geographical presence, corporate strategies, market share of segment and their SWOT analysis. The report also provides a detailed analysis focusing on current business news and developments, which includes product development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances and others. This helps assess overall competition within the market. Key players in the global artificial intelligence in marketing market include 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. and O360. And others.
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Market segment
This study forecasts the 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 segments mentioned below:
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 analysis
- Computer vision
Artificial Intelligence in Marketing Market, By Application
- Sales forecast
- Content curation
- Virtual assistance
- Predictive Analytics
- Ad Optimization
- Dynamic pricing
- Others
Artificial Intelligence in Marketing Market, by End User
- BFSI
- Retail and e-commerce
- Government
- IT and telecommunications
- Health care
- Commercial organizations
- Others
Artificial Intelligence in Marketing Market, Regional Analysis
- North America
- Europe
- Germany
- UNITED KINGDOM
- France
- Italy
- Spain
- Russia
- The rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East and Africa
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