Artificial Intelligence-based Personalization Market : Recent Industry Developments and Growth Strategies Adopted by Players

Implementation and adoption of artificial intelligence technology in all sectors changes the overall shape of the market. Artificial intelligence-based personalization is a software that uses artificial intelligence to provide the right content at the right time for individual site visitors, based on what they have seen or consumed in the past search.

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Artificial intelligence-based personalization software creates data models to derive insights and in turn builds prescriptive or predictive decision engines. End-users use artificial intelligence-based personalization software to make better data-driven decisions and for forecasting the demand.

The global artificial intelligence-based personalization market is projected to expand at a rapid pace during the forecast period, due to advancement in technologies across the globe.

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Global Artificial Intelligence-based Personalization Market: Dynamics

Global Artificial Intelligence-based Personalization Market: Key Drivers

At present, online marketing is booming and personalization has become an important factor in online marketing for analysis of individual choice, which is thus estimated to boost the artificial intelligence-based personalization market during the forecast period. Increasing demand for easy analysis of data and simplification of workflow is projected to fuel the artificial intelligence-based personalization market during the forecast period.
Predictive personalization uses data analysis and profiling tools to adapt content in real-time to optimize conversions automatically. Thus, growing need to adapt content in real-time to optimize conversions automatically is projected to fuel the artificial intelligence-based personalization market in the forthcoming years.

Implementation of machine learning, augmented and prescriptive intelligence, and artificial intelligence also enables analysts to forecast markets with greater accuracy, which is a major factor that is likely to propel the artificial intelligence-based personalization market in the next few years.

Rise in need to generate more revenue, enhance end-user experience, and interaction with the physical environment to accomplish diverse activities and improve productivity across the globe is estimated to boost the artificial intelligence-based personalization market during the forecast period. However, lack of awareness leading to low rate of adoption of artificial intelligence by small and medium size businesses is expected to hinder the artificial intelligence-based personalization market during the forecast period

Lack of skilled staff and incompatibility issues with infrastructure is also anticipated to hinder the artificial intelligence-based personalization market during the forecast period

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Impact of COVID-19 on the Global Artificial Intelligence-based Personalization Market

Increasing cases of COVID-19 across the globe is resulting in economic slowdown and millions of employees are working from home for the first time, during this pandemic. This is expected to change the conservative corporate culture. Hence, demand for better observation, study, and analysis of market conditions and data is increasing during this pandemic. This is expected to continue during the forecast period. Hence, COVID-19 has a positive impact on the artificial intelligence-based personalization market. This is projected to indirectly propel the global artificial intelligence-based personalization market in the next few years.

North America to Hold Major Share of the Global Artificial Intelligence-based Personalization Market

In terms of region, the global artificial intelligence-based personalization market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America dominated the global artificial intelligence-based personalization market with the largest share mainly because of the presence of developed economies, such as the United States and Canada. The U.S. is a key market in the region due to the early adoption and implementation of artificial intelligence-based personalization software.
The artificial intelligence-based personalization market in Asia Pacific is projected to expand at a rapid pace during the forecast period. Increasing digitalization and growth of the IT sector is projected to create lucrative opportunities for the artificial intelligence-based personalization market in the near future.

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Key Players Operating in the Global Artificial Intelligence-based Personalization Market Include:

Alphabet Inc.
IBM Corporation
Apple Inc.
Amazon.com
Microsoft Corporation
Check Point Software Technologies
Oracle Corporation
Cisco System Inc.
Amazon.com

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