Growing Social Media Use surges Global Artificial Intelligence (AI) in Marketing Market Growth
According to the projections put forth by Inkwood Research, the Global Artificial Intelligence (AI) in Marketing Market is anticipated to register a CAGR of 26.58% in terms of revenue during the forecasting years of 2021-2028.
“Browse 56 Market Data Tables and 47 Figures
spread over 220 Pages, along with an in-depth TOC on the Global Artificial
Intelligence (AI) in Marketing Market Forecast
2021-2028.”
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AI (Artificial Intelligence) in marketing
makes automated decisions based on data collection and analysis. Also, it looks
over the economic trends that influence marketing efforts. Besides, it uses
data and customer profiles to ensure efficient communication with consumers and
offer them the best experience.
Increasing
Use of Social Media propels Market Growth
Social media are designed to facilitate content
sharing in real-time, efficiently, and swiftly. It entails a vast range of apps
and websites. Also, social media companies use algorithms to determine the
order and appearance of the content. One of the critical factors contributing
to the popularity of social media is the opportunity to connect with new people
alongside being user-friendly and free-to-use. Additionally, it aids businesses
in reaching consumers.
As per the Global Social Media Stats, as of
July 2021, there are around 4.48 million social media users worldwide. Also, as
per the Global Web Index, 71% are likely to make purchases on the basis of
social media referrals, while 54% use social media for product research. As a
result, social media content evaluation and user sentiment prediction help
markets map social trends, user behavior, customer demographics, etc. For
instance, Facebook uses Machine Learning to gain insights into consumer needs
and interests.
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Major
End-Use: Retail
AI in retail has enabled businesses with high-level
data and information to enhance retail operations and new business
opportunities. Also, it helps retailers align their offerings with consumer
expectations. Additionally, the application of AI in retail is emerging as a
powerful tool for retail brands to gain strategic advantages. Moreover, the
other purposes include enhancing the in-store experience, flexibility in price
adjustments, streamlining store operations, etc.
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Fastest-Growing
Region: Asia-Pacific
The market prospects of the Asia-Pacific
benefit from favorable government policies, increased inclination towards
innovation, and a tech-savvy population. Also, the governments in Asia invest
heavily in AI research. Additionally, there have been public-private
partnerships to outperform western counterparts in AI innovation and
implementation in terms of educational systems. Moreover, there is surging
adoption of AI by several businesses in the region.
The high competitive rivalry is attributed
to the fast growth of AI startups that offer marketing solutions based on
varied industries. Also, the leading tech giants are sustaining their strong
brand image through advanced AI solutions and innovations. Facebook Inc, Oracle
Corporation, Google LLC, Intel Corporation, Microsoft Corporation, etc., are
among the prominent market players.
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verticals such as technology, automotive, chemicals, materials, healthcare, and
energy, with an objective comprehension that acknowledges the business
environments. Our geographical analysis comprises North & South America,
CEE, CIS, Middle East, Europe, Asia, and Africa.
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