About Artificial Intelligence in Marketing
Artificial intelligence in marketing is a method of leveraging customer data and artificial intelligence concepts like machine learning to anticipate the customer’s next move and improve the customer journey. Artificial intelligence can help build more effective marketing strategies, and change the way businesses attract, nurture, and convert prospects. The graphic below shows how AI and machine learning can be incorporated into every step in the customer’s lifecycle. This has led to significant growth of global artificial intelligence in the marketing market in the forecast period.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
The Players having a strong hold in the market are Amazon, Alphabet, and Microsoft. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Artificial Intelligence in Marketing market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Amazon (United States), Alphabet (United States), Microsoft (United States), Salesforce (United States), Oracle (United States), Facebook (United States), Intel (United States), IBM (United States), Micron (United States), NVIDIA (United States), Samsung Electronics (Korea), Xilinx (United States) and Twitter (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Baidu (China), Sentient Technologies (United States), Albert Technologies (Israel), Oculus360 (United States), InsideSales (United States), Persado (United States), Mariana (United States), Drawbridge (United States), Narrative Science (United States), Appier (United States), GumGum (United States) and Zensed (Sweden).
Segmentation Overview
AMA Research has segmented the market of Global Artificial Intelligence in Marketing market by , Application (Social Media Advertising, Search Advertising, Sales & Marketing Automation, Analytics Platform, Dynamic Pricing, Virtual Assistant, Content Curation and Others (Website Design and Emotion Measurement)) and Region.
On the basis of geography, the market of Artificial Intelligence in Marketing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Organization Size, the sub-segment i.e. Large Enterprises will boost the Artificial Intelligence in Marketing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Machine Learning will boost the Artificial Intelligence in Marketing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use Industry, the sub-segment i.e. BFSI will boost the Artificial Intelligence in Marketing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud-Based will boost the Artificial Intelligence in Marketing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offering, the sub-segment i.e. Hardware will boost the Artificial Intelligence in Marketing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Use of Social Media for Advertising
Market Growth Drivers:
Rising Adoption of Customer-Centric Marketing Strategies and Increase in Demand for Virtual Assistants
Challenges:
Growing Concerns Regarding Data Privacy and Unreliability of AI Algorithms
Restraints:
Lack of Working Professionals and Experts in Artificial Intelligence
Opportunities:
Growth in Adoption of Cloud-Based Applications and Services and Evolution of Marketing Analytics by Various Companies
Market Leaders and their expansionary development strategies
On 16th May 2019, Punchh, Inc. has announced the launch of digital marketing solutions that will help companies by proving customer reviews using their natural language comprehension engine also beneficial in providing real-time analysis that will enhance customer relationships and increases loyalty.
On 5th October 2020, IBM has announced three new products to add to its growing suite of AI solutions for brands and publishers. The new capabilities are privacy-forward and designed to allow brands to reach consumers while considering user privacy. IBM intends to work with industry leaders, including Xandr/AT&T, Magnite, Nielsen, MediaMath, LiveRamp, and Beeswax to help scale the use of AI across the industry.
Key Target Audience
Artificial Intelligence Service Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.