According to MarketsandMarkets, the artificial
intelligence (AI) in marketing 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% 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.
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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).
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.
Among deployment types, the market for cloud
deployment is expected to grow at a 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 as
the data to be protected is on the cloud.
Among applications, virtual assistant is the
fastest-growing application. Virtual assistants are increasingly being
used for sales purposes as they are designed to increase productivity
and eliminate time-consuming lead generation activity, thus allowing
salespeople to focus on other productive parts of the job.
On the basis of technologies, the market has been
segmented into machine learning, natural language processing, computer
vision, and context-aware computing. Machine learning’s ability to
collect and handle big data, along with its increased ability to perform
previously impossible calculations, is fueling the growth of the market
for machine learning.
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