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Artificial Intelligence (AI) in Marketing Market Size, Share, Industry, Forecast and Outlook 2023-2030.
Artificial Intelligence (AI) in Marketing Market-DataM Intelligence
Global Artificial Intelligence (AI) in Marketing Market - The global Artificial Intelligence (AI) in Marketing Market witnessed substantial growth, reaching USD 12.7 billion in 2022 and is projected to surge to USD 77.3 billion by 2030, showcasing a robust Compound Annual Growth Rate (CAGR) of 25.1% during the forecast period from 2023 to 2030.
The surge in digitization across industries has led to a tremendous increase in data. As the backbone of AI, abundant data empowers sophisticated marketing activities, including consumer segmentation, customization, and predictive analytics. The accessibility of high-performance computing resources facilitates rapid and effective processing of massive datasets by AI, enabling real-time decision-making.
Transforming Marketing Strategies in Southeast Asia
On May 25, 2023, Appier, a leading Artificial Intelligence Software-as-a-Service (AI SaaS) company, announced a strategic partnership with prominent retail and e-commerce brands in Southeast Asia. This collaboration aims to revolutionize marketing strategies, providing highly personalized shopping experiences across digital platforms. The advent of Generative AI is notably impacting the retail industry, automating tasks, scaling personalized marketing efforts, and enhancing customer service through chatbots.
Asia-Pacific Emerges as a Key Growth Hub
Asia-Pacific accounts for over one-third of the global AI in marketing market, experiencing significant digitalization, particularly in countries like China, India, and Southeast Asian nations. The region's vast population with internet access has led to enhanced data collection, providing valuable insights for AI-driven marketing. The rising demand for AI-powered recommendation engines, personalization, and customer support aligns with the expansion of e-commerce platforms.
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Market Dynamics and Trends
Rising Demand for Predictive Analysis
Predictive analytics is empowering marketers to create highly personalized campaigns by analyzing individual customer data, resulting in increased engagement and conversion rates. Automation of routine tasks through AI and predictive analytics enhances efficiency and productivity, reducing operational costs for legal professionals and organizations.
Collaboration Between Companies Boosts Market Efficiency
Strategic collaborations, such as the partnership between Langoor Digital and Quilt AI on August 16, 2023, are fostering innovation in AI marketing solutions. By combining capabilities in AI algorithms, data analytics, and industry-specific awareness, companies can create cutting-edge tools and methodologies, redefining how marketers engage with their audiences.
Enhancing Marketing Capabilities with AI Algorithms
The advancement of machine learning models and algorithms has significantly enhanced AI's marketing capabilities. Coca-Cola's launch of Coca-Cola Y3000 on September 12, 2023, highlights the collaboration of human creativity and AI to create a unique beverage, showcasing the potential of AI in product development.
Challenges and Considerations
AI's reliance on data raises concerns about accuracy, bias, and privacy. Inaccurate or biased data can impact AI performance, leading to flawed predictions. Implementing AI in marketing is complex and resource-intensive, requiring specialized skills and oversight to avoid potential pitfalls.
Market Segmentation Analysis
The global AI in marketing market is segmented based on offering, deployment type, technology, application, end-user, and region. Cloud-based AI platforms, as seen in Salesforce's introduction of new AI-powered innovations on May 8, 2023, are crucial for efficiently processing and analyzing the increasing volume of data generated by online activities.
Geographical Share
North America dominates the global AI in marketing market, covering over one-third of the market share. The region's advanced technological infrastructure and robust data generation make it a key hub for AI development and deployment.
Key Players in the Market
Major global players in the AI in marketing market include IBM Corporation, Intel Corporation, Alphabet Inc, Microsoft Corporation, Twitter, Inc., Samsung India Electronics Pvt. Ltd., Amazon.com, Inc., NVIDIA Corporation, Albert Technologies Ltd., and H2O.ai, Inc.
For more details on this report:https://www.datamintelligence.com/research-report/artificial-intelligence-ai-in-construction-market
Artificial Intelligence (AI) in Marketing Market - Metrics and Summary
CAGR: 25.1%
Size Available for Years: 2021-2030
Forecast Period: 2023-2030
Data Availability: Value (US$)
Segments Covered: Offering, Deployment Type, Technology, Application, End-User, and Region
Regions Covered: North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Fastest Growing Region: Asia-Pacific
Largest Region: North America
Report Insights Covered: Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter's Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights.
Related Reports:
Artificial Intelligence (AI) in Social Media Market: https://www.datamintelligence.com/research-report/artificial-intelligence-ai-in-social-media-market
Artificial Intelligence (AI) in Security Market: https://www.datamintelligence.com/research-report/artificial-intelligence-ai-in-security-market
Artificial Intelligence (AI) in Construction Market: https://www.datamintelligence.com/research-report/artificial-intelligence-ai-in-construction-market
Contact Us -
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Email: info@datamintelligence.com
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About Us -
DataM Intelligence 4Market Research is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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