Artificial Intelligence (AI) in Marketing Market
Artificial Intelligence (AI) in Marketing Market was valued at USD 4.20 Billion in 2017 and is likely to reach USD 35.10 Billion by 2026, at a CAGR of 26.61% .The base year considered for the study is 2017, and the forecast period is between 2018 and 2026.
The growth of the Artificial Intelligence (AI) in Marketing Market is driven by factors such as increasing demand of the digital computation power, data technology, digitization of the industry, cloud based services, and advanced algorithms.
Artificial Intelligence marketing techniques increase the efficiency of marketing budget and are more effective than traditional tactics. Early adopters like NVIDIA, Intel, Amazon, IBM, Microsoft, have shown how AI in marketing makes them more efficient, productive and effective by simplifying, accelerating and scaling marketing initiatives while removing many complexities inherent in marketing today.
AI in marketing market are used to understand customer behavior, individual personalization, and conversational marketing, advertisement, social media image recognition , data filtering and analysis
AI has become increasingly important not only to marketers but to organizations as a whole in order to stay ahead in todayâ€™s dynamic market landscape. According to a recent MIT global survey of 600 executives, 9 out of 10 companies already use AI to improve their customer journeys. More importantly, studies show that three quarters of business improve revenue with Artificial intelligence driven marketing. Netflix has projected that its AI-powered personalized recommendations save it $1 billion in revenue annually by avoiding canceled subscriptions via engaging customers with relevant content.
Global AI in Marketing Market Restrains:
Although AI is set to revolutionize marketing market. But as with most forms of new technology, there are some real limitations. Like cost and maintenance, lack of creativity, continuous supervision, data protection and security issues will hinder the growth of AI in marketing market.
The global AI in marketing market is segmented into various segments on the basis of application, technology, deployment, and verticals.
By application, the market is segmented into sales forecasting, Artificial generated content, virtual assistance, web and app Personalization, marketing automation.
By deployment, the market is segmented into on-cloud and on-premise.
By end user industry the market is segmented into BFSI, retail, & e-commerce, government, IT & telecommunication, healthcare, commercial organization, and others.
By regional market is segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America is expected to hold majority of market due to this region is hot bed for leveraging Artificial intelligence research and development, a strong presence of prominent artificial intelligence software services, also increasing adoption of social media platforms for advertisement and personifications are driving factors for artificial intelligence in market in North America.
The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Global AI in Marketing Market dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence. To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies acr"
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Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electroni..