Global AI in Marketing Market Size To Worth USD 234.8 Billion By 2033 | CAGR of 7.18%

Global AI in Marketing Market worth USD 234.8 Billion by 2033

According to a research report published by Spherical Insights & Consulting, the Global AI In Marketing Market Size was valued at USD 21.35 Billion in 2023 and is anticipated to reach USD 234.8 Billion by 2033, growing at a CAGR of 27.10% from 2023 to 2033.

Browse key industry insights spread across 238 pages with 108 Market data tables and figures & charts from the report on the "Global AI In Marketing  Market Size, Share, and COVID-19 Impact Analysis, By Component (Software, Services), By Application (Social Media Advertising, Search Engine Marketing, Virtual Assistant, Content Curation, Sales & Marketing Automation, Analytics Platform, and Others), By Technology (Machine Learning, Natural Language Processing, Computer Vision, Others), By End User Industry (BFSI, Retail, Consumer Goods, Media & Entertainment, IT & Telecom, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/ai-in-marketing-market

The role of artificial intelligence in marketing refers to the growing sector where AI technologies are employed to analyze large volumes of data, streamline marketing activities, and tailor customer experiences across different digital platforms. This majorly affects the brand's engagement with consumers and enhances its marketing strategies, featuring important uses in content generation, identifying customer insights, and refining campaigns, all focused on boosting efficiency and attaining better results.  

Moreover, growing economies in developing markets and their technological advancements offer substantial opportunities for AI in digital marketing. Companies can utilize digital technology and online access to interact with local consumer behaviors, and innovative strategies, and enhance market growth. Also, the integration of AI in marketing greatly improves businesses' capacity to comprehend and connect with their customers more profoundly. Utilizing machine learning techniques and data analysis, businesses can examine customer behavior, preferences, and interactions instantaneously, resulting in more tailored and focused marketing approaches. This customization enhances customer experience while also boosting the success of marketing campaigns, driving higher conversion rates and customer loyalty.

Additionally, Artificial intelligence enhances healthcare marketing by promoting online interactions and in-person engagement via chatbots, improving patient experiences. Predictive analytics aids in anticipating demographic behaviors, developing focused marketing plans, and examining trends to spot rises in patient visits by time or place. This improves overall marketing effectiveness in healthcare. However, AI in marketing meets major limitations because of worries regarding data security and privacy, as it primarily depends on gathering and examining customer data. With strict data privacy laws like the CCPA and GDPR established, businesses need to man power through complicated legal structures to guarantee adherence. This could hinder the demand for AI in marketing and impede industry progress.  

The software segment held a major share in 2023 and is anticipated to grow at a notable CAGR during the forecast period.  

Based on the component, the global AI in marketing market is categorized into software and services. Among these, the software segment held a major share in 2023 and is anticipated to grow at a notable CAGR during the forecast period. This is due to the simplicity of implementing and using AI technologies in marketing strategies. Furthermore, the continuous advancements in AI and machine learning techniques have significantly improved the capabilities of marketing software. These technologies enable sophisticated segmentation, targeting, predictive analytics, and customer journey mapping, offering marketers unmatched precision in reaching and engaging their target audiences.

The content curation segment secured a dominant share in 2023 and is expected to grow at a remarkable CAGR during the forecast period.

Based on the application, the global AI in marketing market is divided into social media advertising, search engine marketing, virtual assistant, content curation, sales & marketing automation, analytics platform, and others. Among these, the content curation segment secured a dominant share in 2023 and is expected to grow at a remarkable CAGR during the forecast period. The segmental growth is attributed to the growing need for high-quality, relevant, and captivating content on digital channels. Also, the ongoing development of AI technologies, which have increasingly become skilled at comprehending user behavior, preferences, and patterns of content interaction. These developments allow AI tools to forecast which content will perform optimally, aiding in the crafting of more tailored and effective marketing messages.

The machine learning segment accounted for the highest share in 2023 and is expected to grow at a notable CAGR during the forecast period.

Based on the technology, the global AI in the marketing market is separated into machine learning, natural language processing, computer vision, and others. Among these, the machine learning segment accounted for the highest share in 2023 and is expected to grow at a notable CAGR during the forecast period. Machine Learning algorithms have revolutionized the marketing industry by offering predictive analytics, customer segmentation, and customized marketing strategies, which improve efficiency and effectiveness in marketing efforts. The dominance of Machine Learning in marketing is bolstered by its ability to develop and improve continuously. Unlike static algorithms, ML systems evolve by learning from new data, and continuously refining their models for better accuracy in targeting, predicting, and making decisions.

The media & entertainment segment held a major share in 2023 and is expected to grow at a remarkable CAGR during the forecast period.

Based on the end-user industry, the global AI in the marketing market is separated into BFSI, retail, consumer goods, media & entertainment, it & telecom, and others. Among these, the media & entertainment segment held a major share in 2023 and is expected to grow at a remarkable CAGR during the forecast period. The segmental growth is attributed to the rapid digital transformation occurring in the industry. Streaming services, digital platforms, and online media channels are progressively depending on AI to handle and assess vast amounts of content and user information. This dependence on AI-powered tools enhances targeting and segmentation approaches, streamlining advertising campaigns and enhancing the overall customer experience.

North America is anticipated to hold the largest share of the global AI in the marketing market over the predicted timeframe.

North America is anticipated to hold the largest share of the global AI in the marketing market over the predicted timeframe. This is due to the area having a robust digital framework, extensive uptake of cutting-edge internet and media technologies, and considerable funding in AI development and innovation that plays a key role in regional leadership.

Additionally, the growth of sectors like automotive, BFSI, and healthcare, along with the presence of key companies in this area is driving the regional expansion of AI applications in industry. Additionally, the widespread internet access and the prevalent use of social media have opened up new avenues for marketers to initiate AI-driven campaigns. This digital transition enhances customer interaction while providing marketers with essential insights into consumer habits, preferences, and trends. As a result, the market is expected to see steady growth, bolstered by continuous developments in AI technologies and their increasing use in marketing strategies.

Asia Pacific is expected to grow the fastest during the forecast period, due to the increasing uses of AI technology in the various sectors, education, data analysis, retail, and others which is made easy because of the presence of emerging AI or IT companies in major countries in the region such as India, China, and others. Additionally, China is making significant investments in AI for military purposes, boosting the capabilities of its People's Liberation Army (PLA) in areas like algorithmic warfare and autonomous systems. This development could alter the regional power dynamics and pose a challenge to U.S. influence.

Major key players in the AI in marketing market include Google LLC, Meta, Twitter, Inc., Intel Corporation, Oracle Corporation, Baidu Inc., Salesforce, Inc., International Business Machines Corporation, Microsoft Corporation, NVIDIA Corporation, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In September 2023, Oracle introduced new AI capabilities in Oracle Fusion Cloud Customer Experience (CX). These advancements help marketers, sellers, and service agents enhance revenue and customer experience by automating tasks, and providing relevant content, recommendations, and insights through conversational interfaces.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global AI in marketing market based on the below-mentioned segments: 

Global AI in Marketing Market, By Component

• Software
• Services

Global AI in Marketing Market, By Application

• Social Media Advertising,
• Search Engine Marketing
• Virtual Assistant
• Content Curation
• Sales & Marketing Automation
• Analytics Platform
• Others

Global AI in Marketing Market, By Technology 

• Machine Learning
• Natural Language Processing
• Computer Vision
• Others

Global AI in Marketing Market, By End User Industry

• BFSI
• Retail
• Consumer Goods
• Media & Entertainment
• IT & Telecom
• Others

Global AI in Marketing Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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