Growing Social Media Use surges Global Artificial Intelligence (AI) in Marketing Market Growth

According to the projections put forth by Inkwood Research, the Global Artificial Intelligence (AI) in Marketing Market is anticipated to register a CAGR of 26.58% in terms of revenue during the forecasting years of 2021-2028.

"Browse 56 Market Data Tables and 47 Figures spread over 220 Pages, along with an in-depth TOC on the Global Artificial Intelligence (AI) in Marketing Market Forecast 2021-2028."

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AI (Artificial Intelligence) in marketing makes automated decisions based on data collection and analysis. Also, it looks over the economic trends that influence marketing efforts. Besides, it uses data and customer profiles to ensure efficient communication with consumers and offer them the best experience.

Increasing Use of Social Media propels Market Growth

Social media are designed to facilitate content sharing in real-time, efficiently, and swiftly. It entails a vast range of apps and websites. Also, social media companies use algorithms to determine the order and appearance of the content. One of the critical factors contributing to the popularity of social media is the opportunity to connect with new people alongside being user-friendly and free-to-use. Additionally, it aids businesses in reaching consumers.

As per the Global Social Media Stats, as of July 2021, there are around 4.48 million social media users worldwide. Also, as per the Global Web Index, 71% are likely to make purchases on the basis of social media referrals, while 54% use social media for product research. As a result, social media content evaluation and user sentiment prediction help markets map social trends, user behavior, customer demographics, etc. For instance, Facebook uses Machine Learning to gain insights into consumer needs and interests.

Major End-Use: Retail

AI in retail has enabled businesses with high-level data and information to enhance retail operations and new business opportunities. Also, it helps retailers align their offerings with consumer expectations. Additionally, the application of AI in retail is emerging as a powerful tool for retail brands to gain strategic advantages. Moreover, the other purposes include enhancing the in-store experience, flexibility in price adjustments, streamlining store operations, etc.

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Fastest-Growing Region: Asia-Pacific

The market prospects of the Asia-Pacific benefit from favorable government policies, increased inclination towards innovation, and a tech-savvy population. Also, the governments in Asia invest heavily in AI research. Additionally, there have been public-private partnerships to outperform western counterparts in AI innovation and implementation in terms of educational systems. Moreover, there is surging adoption of AI by several businesses in the region.

The high competitive rivalry is attributed to the fast growth of AI startups that offer marketing solutions based on varied industries. Also, the leading tech giants are sustaining their strong brand image through advanced AI solutions and innovations. Facebook Inc, Oracle Corporation, Google LLC, Intel Corporation, Microsoft Corporation, etc., are among the prominent market players.

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This release was published on openPR.