Market Overview
The Artificial Intelligence in Marketing Market was estimated at USD 13.24 billion in 2021, and is projected to reach USD 71.86 billion by 2028, growing at a CAGR of 27.34% over the analysis period.
AI marketing allows the use of artificial intelligence technologies to take accurate decisions. Data analysis, data collection, and additional observations of the audience these are the factors used by AI to make decisions that build marketing strategy for various products. AI tools utilize customer data and profiles to learn the best way to communicate with customers, and then provide services by sending messages at the exact time when it shows better results, and this is done by AI without any interference from humans, with maximum efficiency. Artificial intelligence marketing techniques are more effective than traditional methods. Artificial intelligence in marketing is used to understand and analyze customer behavior for advertisements, data filtering, and social media marketing. Artificial intelligence provides Predictive analytics and facilitates to the firms that help in customer acquisition and lead generation. AI-based virtual support, like digital communication marketing companies, can manage customer relationship services in an effective way.
Major Key Players for Artificial Intelligence in Marketing Market
- Intel Corporation
- Welltok. Inc
- Nvidia Corporation
- Google Inc
- IBM Corporation
- Microsoft Corporation
- Salesforce
- Oracle
- Next IT Corporation
- Google Inc
- IBM Corporation
- Albert Technologies
- Oculus360
- Others
Market Dynamics and Factors
Artificial intelligence marketing performs more tactical tasks which requires less human interference. Artificial intelligence marketing techniques are used to make marketing decisions and give marketing support to the customer by analyzing the different perspectives of data like media buying, customer buying behavior, decision making, natural language processing, real-time activity, and personalized content. All these activities are done by AI to do marketing of a single good or series that gives productive, accurate and quick results in less time and requires less manpower, which is expected to boost the usage of Artificial intelligence in marketing technique. These techniques are used in different sectors such as healthcare, finance, banking, IT, Government agencies, and the industrial sector, allowing them to increase the efficiency of marketing budget. The usage of AI in marketing is expected to increase attributed to the rise in the amount generated by different industry verticals and the need to asses them for organization benefit thus, driving the development of the market over the forecasted timeframe.
Artificial Intelligence in Marketing Market Report Highlight
- By Type, the hardware segment is expected to have the maximum share of the Artificial Intelligence in Marketing Market during the projected period. Hardware gives all the necessary control and logic to perform machine learning algorithms and also helps to run AI technology.
- By Technology, the Machine Learning segment is predicted to develop the most during the forecasted period. Machine learning is a sub-branch of artificial intelligence that is decided by analyzing human behavior. AI is used to complete complex jobs in a similar way by which humans solve problems.
- By end users, the enterprise industry is expected to have the highest share of the market. AI is being used in marketing by the enterprise industry for a variety of applications, including virtual assistants, sales and marketing automation, analytics, and social media advertising.
- The AI in marketing market in Asia-Pacific region is anticipated to develop at the highest CAGR over the forecasted timeframe. This region has the most populous and developing countries, including India and China. These countries are fast adopting new technology to support government initiatives to digitalize the nation. The adoption of AI by large, small, and medium-sized businesses in this area creates significant growth potential for the artificial intelligence in marketing market.
Key Industry Development
- In April 2022, Salesforce one of the leading names in AI marketing introduced new Service and Marketing Cloud features that give customer experience with new AI-powered mobile offline access to relevant information, and conversational intelligence. This technique is used by many industries like healthcare, retail and manufacturing due to it creates personalized experience for every customer.
- In May 2022, Intel Corp. One of the leading companies in AI technology, launched a new chip namely Gaudi2, which is mainly used for artificial intelligence computing. It gives a bigger push into the AI chip market. Nvidia Corp (NVDA.O) is currently dominating this AI chip market.
Artificial Intelligence in Marketing Market Segmentation
By Type
- Hardware
- Software
- Services
By Technology
- Machine Learning
- Context-Aware Computing
- Natural Language Processing
- Computer Vision
By End User
- Enterprise
- BFSI
- Retail
- Consumer Goods
- Media and Advertising
- Others
For this report, Introspective Market Research has segmented the Artificial Intelligence in Marketing Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Turkey
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Vietnam
- Thailand
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Iran
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of LATAM
