Press release
AI In Social Media Market Insights 2024-2033: Key Drivers, Size, Share, and Outlook
AI In Social Media Market Insights
According to The Business Research Company's, The ai in social media market size has grown exponentially in recent years. It will grow from $1.68 billion in 2023 to $2.16 billion in 2024 at a compound annual growth rate (CAGR) of 28.5%. The growth in the historic period can be attributed to personalized content recommendations, enhanced user engagement, image and video recognition, social listening and insights, influencer marketing optimization.
The ai in social media market size is expected to see exponential growth in the next few years. It will grow to $5.95 billion in 2028 at a compound annual growth rate (CAGR) of 28.8%. The growth in the forecast period can be attributed to tailored platform personalization, strengthened spam and fake account detection, improved trend prediction, precision in ad targeting, ai-driven customer service innovation. Major trends in the forecast period include platform customization and user experience, conversational ai and chatbots, content creation and curation, visual recognition and augmented reality, sentiment analysis and social listening.
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Market Drivers and Trends:
The growing social media usage for online shopping is expected to propel the growth of AI in social media market going forward. Social media usage for online shopping refers to the growing trend of using social media platforms for discovering, researching, and purchasing products online. AI in social media is used for online shopping to enhance the shopping experience, improve product recommendations, and streamline the purchase process. It helps with personalized recommendations, visual search, chatbots and virtual assistants, customer support, fraud detection, and security. So, these factors boost AI in social media market. For instance, in December 2022, according to Influencer Marketing Hub, a Denmark-based media company, the number of social consumers in the US increased by more than 35%, and in 2022, social commerce sales in the country will be worth $53.10 million, or 5.1% of all online sales compared to previous years. In China, 11.7% of total retail eCommerce sales will be through social apps in 2020, and it had increase to 52% in 2022. Therefore, the growing social media usage for online shopping is driving the growth of AI in social media market.
Technological advancement is a key trend gaining popularity in the AI in social media markets. Major companies operating in the AI in social media market are developing innovative technologies to sustain their position in the market. For instance, in July 2022, Meta Platforms, Inc., a US-based technology company, launched a new AI-powered tool called Sphere. It is the first AI model capable of instantly scanning millions of citations to see if they genuinely support the associated assertion. This innovative artificial intelligence (AI) program would identify and address false information, or fake news, on the internet and on Facebook, Instagram, and WhatsApp, which contribute to the spread of misinformation online, to improve the accuracy of Wikipedia pages. Additionally, Sphere's dataset, which consists of 134 million public webpages, uses the internet's collective wisdom to quickly examine hundreds of thousands of online citations in an effort to look for factual inaccuracies. The tool is expected to help improve the accuracy and reliability of information online and ultimately combat the spread of misinformation on social media.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Meta Platforms Inc.; International Business Machines Corporation; Microsoft Corporation; Adobe Inc.; Snap Inc.; Amazon Web Services Inc.; Google LLC; Salesforce Inc.; Twitter Inc.; Baidu Inc.; Hootsuite Inc.; Clarabridge; NetBase Solutions Inc.; Talkwalker; Converseon Inc.; Sprinklr; ByteDance Ltd.; Pinterest Inc.; Reddit Inc.; Sprout Social Inc.; Buffer Inc.; Socialbakers Inc.; Brandwatch GmbH; Meltwater Group ASA; Crimson Hexagon Inc.; Khoros Inc.; Falcon.io; Zoho Corporation Pvt. Ltd.; Brand24 sp. z o.o.; Oktopost
AI In Social Media Market 2024 Key Insights:
• The ai in social media market will grow to $5.95 billion in 2028 at a compound annual growth rate (CAGR) of 28.8%.
• AI In Social Media Market Soars As Growing Social Media Usage Revolutionizes Online Shopping Experience
• Revolutionary AI Tool To Combat Misinformation And Enhance Accuracy In Social Media
• North America was the largest region in the AI in social media market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide."
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