New York, US, Aug. 08, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “AI in Marketing Market Analysis by Application (Ad Optimization, Content Curation), by Technology, by Vertical (BFSI, Government), by Deployment (On-Cloud) - Global Forecast till 2030” valuation is poised to reach USD 48.8 Billion by 2030, registering an 28.6% CAGR throughout the forecast period (2021-2030).
AI in Marketing Market Overview
The growing need to enhance business functions coupled with emerging innovation across various industries will offer robust opportunities for the market in the assessment period.
AI in Marketing Market Report Scope:
| Report Metric | Details |
| Market Size in 2030 | USD 48.8 Billion |
| Growth Rate | 28.6% CAGR |
| Base Year | 2020 |
| Forecast Period | 2021 to 2030 |
| Historical Data | 2019 |
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Drivers
Growing Adoption of Customer-Centric Marketing Strategies to Boost Market Growth
The growing adoption of customer-centric marketing strategies will boost market growth over the forecast period. Customers are a company's most precious asset. To thrive in the cutthroat AI in marketing market, businesses are concentrating on building long-term relationships with their clients. Companies have transitioned over time from a product-driven to a customer-centric marketing strategy. To better understand its customers and forecast consumer behaviour based on product purchases, the company made the change. In order to increase order repeat opportunities, customer loyalty, and business growth, customer-centric strategies place a strong emphasis on delivering exceptional customer experiences both before & after sales.
High Maintenance Cost to act as Market Challenge
The high maintenance cost, security issues, and constant supervision may act as market challenges over the forecast period.
AI in Marketing Market Segments
The AI in marketing market is bifurcated based on deployment, vertical, technology, and application.
By application, the artificial intelligence in marketing market is segmented into content curation and Ad optimization.
By technology, the artificial intelligence in marketing market is segmented into advanced analytics and adaptive learning.
By vertical, the artificial intelligence in marketing market is segmented into government and BFSI.
By deployment, on-cloud will lead the market in the assessment period.
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AI in Marketing Market Regional Analysis
APAC to Head AI in Marketing Market
The AI in marketing market trends show that throughout the forecast period, which will conclude in 2028, the APAC region, which includes nations like India, China, Japan, and South Korea among others, is anticipated to experience the maximum CAGR growth. The widespread usage of AI services in the region is the primary factor driving the APAC region's phenomenal growth over the projection period and ensuring its dominant position in market operations. During the forecast period of 2021–2028, end-user industries such as entertainment, media, BFSI, healthcare, pharmaceuticals, medicine, retail, and social media advertising are among those that frequently follow global market trends.
Due to the increasing acceptance of AI technology and cloud deployment via SMEs and major corporations, the Asia Pacific market is predicted to experience considerable growth over the coming years. Along with strengthening operational performance, more of these businesses are putting more of an emphasis on improving customer happiness. Aside from this, the market in North America has been growing over the past few years as a result of significant investments made by both the public and private sectors in the development of artificial intelligence. In addition to these investments, a number of entrepreneurs are reshaping the artificial intelligence sector through the development of new products.
The use of AI services in end-user sectors including retail, BFSI, enterprise, media, and advertising in nations like Japan, China, Australia, & South Korea is responsible for this expansion. During the projected period, Asia-Pacific is anticipated to have the quickest growth rate in the market. The most populous and developing nations, including China and India, are found in this region. These nations are quickly implementing the newest technologies to support national government initiatives to go digital. The adoption of AI by both large and small and medium-sized businesses in this area offers the AI in marketing market excellent potential opportunities.
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North America to Have Favorable Growth in AI in Marketing Market
In the upcoming years, North America will exhibit favorable growth in the market for artificial intelligence in marketing. Numerous well-known technology companies based in the area are aware of the prospects offered by the quickly growing AI in marketing business. In addition, both small and large businesses in the region are adopting AI at a reasonably high rate, especially when compared to the other regions. The regional market benefits from this factor.
COVID-19 Analysis
The majority of production, manufacturing, & other functional unit of various businesses, industries, enterprises, & corporations were being digitalized. The widespread detection of the novel coronavirus has contributed to the adoption of digital software and solutions to boost productivity and improve the market's capacity to adapt to and advance the worldwide supply chain system & management. The market is being driven by the necessity for artificial intelligence to be implemented in divisions like marketing & promotion in order to survive in the face of global competition. The introduction of the COVID-19 epidemic has caused significant problems for the businesses, which has led to a growing demand for the deployment of AI services and solutions.
The government is largely dedicating funds and investing in inventive tactics to come up with novel ways to implement and understand the breadth of artificial intelligence in order to aid the global economy cope with the stagnating approach caused by the spread of the epidemic. Additionally, during the forecast period, which ends in 2028, the major market participants are searching for opportunities that will aid in improving the marketing path of the global AI in marketing market through the innovative and strategic implementation of AI-based services, products, and solutions.
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AI in Marketing Market Competitive Analysis
Dominant Key Players on AI in Marketing Market Covered are:
- IBM Corporation (US)
- Google (US)
- Facebook (US)
- Amazon.com Inc. (US)
- Intel Corporation (US)
- Microsoft Corporation (US)
- NVIDIA Corporation (US)
- Salesforce.com Inc. (US)
- Twitter (US)
- Sentient Technologies Holdings Ltd (US)
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