Global AI In Marketing Market Insights Forecasts to 2033

• The Global AI In Marketing Market Size was estimated at USD 21.35 Billion in 2023
• The Market Size is expected to grow at a CAGR of around 27.10% from 2023 to 2033 
• The Worldwide AI In Marketing Market Size is Expected to Reach USD 234.8 Billion by 2033 
• Asia Pacific is Expected to Grow the fastest during the forecast period.   

The Global AI In Marketing Market Size is anticipated to reach USD 234.8 Billion by 2033, Growing at a CAGR of 27.10% from 2023 to 2033. The global market of AI in marketing is expanding due to 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. Also, growing economies in developing markets and their technological advancements offer substantial opportunities for AI in digital marketing.

Overview

The role of artificial intelligence in marketing refers to the rising industry where artificial intelligence technologies are used to analyze vast amounts of data, automate marketing tasks, and personalize customer experiences across various digital channels, significantly impacting the brand’s interactions with consumers and optimizing their marketing strategies, with key applications in content creation, and targeting customer insights, and campaign optimization, all aimed at improving efficiency and achieving better.

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. As AI progresses, real-time optimization, better customer insights, and increased personalization will evolve further, providing hyper-personalized experiences. Technological creativity is powered by AI and will be dynamic in content creation and generative ideas, ensuring that marketing tactics stay innovative and efficient. This continuous integration of AI into digital marketing is set to transform the way companies connect with their audiences, supporting growth and achievement across various markets.

Report Coverage

This research report categorizes the global AI in marketing market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global AI in the marketing market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global AI in marketing market.

Driving Factors

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.

Moreover, artificial intelligence offers numerous uses in healthcare that can enhance the marketing of the medical sector. By motivating prospective patients to interact online or increasing on-site engagement and conversion, chatbots can assist healthcare marketers in improving the overall patient experience. Predictive analytics enables the prediction of future actions of demographic segments, the creation of marketing strategies specific to each group, and the analysis of demographic trends to pinpoint increases in patient visits by time or location. In October 2024, Iambic Therapeutics' Enchant platform, announced the use of AI to predict clinical outcomes from early drug discovery stages, significantly reducing preclinical research time. It leverages data to improve decision-making, cutting costs and enhancing clinical success rates. This kind of innovation in the healthcare industry influences the uses of AI in marketing across the healthcare sector.

Restraints & Challenges

AI in marketing faces significant limitations due to concerns surrounding data security and privacy, as it largely relies on collecting and analyzing customer information. With stringent data protection regulations such as the CCPA and GDPR in place, companies must navigate complex legal frameworks to ensure compliance. Leveraging AI to customize marketing strategies while safeguarding sensitive information and maintaining consumer privacy is the challenging aspect. This may hamper the demand for AI in marketing and slow in industry growth.

Market Segmentation

The global AI in marketing market share is classified into component, application, technology, and end-user industry. 

• The software segment secured a dominant share in 2023 and is anticipated to grow at a remarkable 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 accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. This is because of the easy the deployment and utilization of AI technologies in marketing approaches. Also, the ongoing developments in AI and machine learning algorithms have notably enhanced the functionalities of marketing software. These technologies facilitate advanced segmentation, targeting, predictive analytics, and customer journey mapping, providing marketers with unparalleled accuracy in connecting with and engaging their desired audiences.

• The content curation segment held a major share in 2023 and is expected to grow at a notable 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 held a major share in 2023 and is expected to grow at a notable 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 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 transformed the marketing field by providing predictive analytics, customer segmentation, and tailored marketing strategies, thereby enhancing efficiency and effectiveness in marketing initiatives. The supremacy of Machine Learning in marketing is enhanced by its capacity to evolve and refine itself over time. In contrast to static algorithms, ML systems adapt by learning from fresh data, perpetually improving their models for enhanced precision in targeting, forecasting, and decision-making tasks.

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

Based on the end-user industry, the global AI in 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 notable CAGR during the forecast period. The segmental growth is attributed to the rapid digital transformation within the industry. Streaming services, digital platforms, and online media outlets are increasingly relying on AI to manage and analyze large volumes of content and user data. This reliance on AI-driven tools facilitates more effective targeting and segmentation strategies, optimizing advertising campaigns, and improving the overall customer experience.

Regional Segment Analysis of the Global AI in Marketing Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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 because the region has a well-developed digital infrastructure, high adoption of advanced internet and media technologies, and significant investment in AI advancement and innovation which contributes a major share in regional dominance. Moreover, the rise of industries such as automotive, BFSI, and healthcare, as well presence of major companies in this region is propelling the regional growth of AI uses in industry. Also, the extensive internet penetration and the pervasive use of social media have created new opportunities for marketers to launch AI-powered campaigns. This digital shift not only improves customer engagement but also offers marketers valuable insights into consumer behavior, preferences, and trends. Consequently, the market is anticipated to experience continuous growth, supported by ongoing advancements in AI technologies and their expanding applications 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.  

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global AI marketing market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Google LLC
• Meta
• Twitter, Inc.
• Intel Corporation
• Oracle Corporation
• Baidu Inc.
• Salesforce, Inc.
• International Business Machines Corporation
• Microsoft Corporation
• NVIDIA Corporation
• Others  

Key Target Audience

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

Recent Development

• In November 2023, IBM revealed plans to launch a $500 million venture fund aimed at investing in a diverse range of AI companies, from rapidly growing startups to early-stage firms. The goal is to accelerate generative AI research and technology for enterprise application.

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