Software to hold largest share of AI in marketing market by 2025

Software holds a major share of the overall AI in marketing market owing to the developments in AI software and related software development kits. AI systems require different types of software, including application program interfaces, such as language, speech, vision, and sensor data, along with machine learning algorithms, to realize various applications for sales and marketing. Software platforms and solutions are available at high costs as there are limited number of experts that develop machine learning algorithms.

the market is expected to be valued at USD 6.46 Billion in 2018 and is likely to reach USD 40.09 Billion by 2025, at a CAGR of 29.79% during the forecast period. Growth in the adoption of customer-centric marketing strategies, increase in demand for virtual assistants, and increased use of social media for advertising are the major factors driving the demand for AI-based marketing and sales solutions.

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In this report, the AI in marketing market has been segmented on the basis of offerings, deployment types, applications, technologies, end-user industries, and regions. Among offerings, software holds the largest share of the overall AI in marketing market owing to the developments in AI software and related software development kits.

The AI in marketing market in APAC is expected to grow at the highest CAGR between 2018 and 2025. This growth can be attributed to the adoption of AI services in end-user industries such as retail, BFSI, enterprise, and media and advertising in countries such as Japan, China, Australia, and South Korea.

The limited number of AI experts is a major restraint for the AI in marketing market. Companies covered in the AI in marketing market report are NVIDIA (US), Intel (US), IBM (US), Micron (US), Samsung Electronics (Korea), Xilinx (US), Amazon (US), Alphabet (US), Facebook (US), Microsoft (US), Salesforce (US), Baidu (China), Sentient Technologies (US), Albert Technologies (Israel), and Oculus360 (US). Some of the other key companies included in the report are Twitter (US), Oracle (US), InsideSales (US), Persado (US), Mariana (US), Drawbridge (US), Narrative Science (US), Appier (US), GumGum (US), and Zensed (Sweden).

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