The artificial intelligence (AI) in
marketing market was valued at USD 5.00 Billion in 2017 and is likely to
reach USD 40.09 Billion by 2025, at a CAGR of 29.79% during the
forecast period. The base year considered for the study is 2017, and the
forecast period is between 2018 and 2025.
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.
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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Some of the other key companies included in the report are:-
https://www.marketsandmarkets.com/pdfdownload.asp?id=3175268
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).
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.
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.
Market for cloud deployment to grow at higher CAGR between 2018 and 2025:-
Several businesses have already moved part of their
operations to the cloud, which has encouraged vendors to develop
cloud-based solutions. Migrating to the cloud has benefits such as
enhanced flexibility, control, and scalability. Cloud deployment
significantly reduces the capital investment required to implement
AI-based solutions for marketing and sales; this is one of the major
reasons for the increased demand for cloud-based solutions from most
enterprises.
North America to hold major share of AI in marketing market in 2018:-
North America is expected to account for the largest
share of the overall AI in marketing market in 2018. North America is
the largest contributor to the adoption and implementation of AI in
marketing. The region, including the US and Canada, has shown increased
investments in the market, and several vendors have evolved to cater to
the rapidly growing market. Considerable growth is expected in the
region during the forecast period owing to the growing adoption of AI
among physically present retail stores, as well as the ongoing research
and pilot projects by North American companies.
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MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
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