Artificial Intelligence (AI) in Social Media Market Projected to Surpass $11.99 Billion by 2031

According to a new report published by Allied Market Research, titled, "Artificial Intelligence (AI) in Social Media Market by Technology (Machine Learning and Deep Learning, Natural Language Processing (NLP)), by Application (Sales and Marketing, Customer Experience Management, Predictive Risk Assessment, Image recognition), by Enterprise Size (Large Enterprises, Small and Medium Enterprises (SMEs)), by Industry Vertical (BFSI, IT and Telecom, Retail and E-Commerce, Media and Advertisement, Education, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031.

The global Artificial Intelligence in social media market size was valued at $0.99 billion in 2021, and is projected to reach $11.99 billion by 2031, growing at a CAGR of 28.7% from 2022 to 2031.

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AI in social media refers to the use of artificial intelligence technologies to enhance and automate various aspects of social media platforms, including content recommendations, image and video analysis, chatbots, sentiment analysis, influencer marketing. The goal is to improve user experience, enhance content moderation, and provide better insights into user behavior. Moreover, a lot of social networking sites also employ AI to detect the abusive language in messages and comment areas. For instance, Facebook utilizes an AI program called deep text to identify instances of abuse.

Rise in the integration of AI in social media market applications for effective advertising and the growing popularity of AI in social media to provide real-time information on target audiences are driving the growth of the market. In addition, the surge in data generated through social media platforms is fueling the growth of Artificial Intelligence in social media market forecast. However, data security and privacy concerns limit the growth of this market. Conversely, the increased availability of machine learning programs for social media is anticipated to provide numerous opportunities for the expansion of the market during the forecast period.

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Competitive Analysis:
The competitive environment of Artificial Intelligence (AI) in Social Media Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Artificial Intelligence (AI) in Social Media Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Adobe. Amazon Web Services, Inc.
Baidu, Inc.
Google LLC
Hootsuite Inc.
IBM Corporation
Meta
Microsoft
Salesforce, Inc.
Snap Inc and Many More

Region-wise, the AI in social media market was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to the increasing usage of automation and digitally enabled solutions. Additionally, AI is permeating society and affecting some of the most crucial aspects of people's lives, such as health care, law, agriculture, and transportation. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to companies in the region are investing heavily in AI technology, driven by the growing demand for real-time content and personalized customer engagement, which is expected to fuel the market growth in this region.

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Several companies and government authorities are leveraging advanced technologies, intending to improve user experience and efficient monitoring of social media content. For instance, according to the article published by AI Multiple, in January 2023, the use of artificial intelligence is growing increasingly, owing to 90% of leading companies and government sectors continuing to invest in AI technology.

The article further stated the use of AI for a range of government applications, such as social welfare, healthcare, and domestic security. Thus, the aforementioned factors are projected to significantly pave numerous opportunities for artificial intelligence in social media market share.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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