Artificial Intelligence in Marketing Market to be Worth $112.2 Billion by 2031

Meticulous Research^®—leading global market research company, published a research report titled, 'Artificial Intelligence in Marketing Market by Offering, Deployment Mode, Organization Size, Application (Content Generation, Chatbots, Search Advertising) End-use Industry (Consumer Goods, E-commerce, Retail), and Geography - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the global artificial intelligence in marketing market is projected to reach $ 112.2 billion by 2031, at a CAGR of 27.9% from 2024–2031. The growth of artificial intelligence in marketing market is driven by the growing demand for customer-driven marketing and advertisement and the rising demand for AI in marketing for content generation. However, the lack of data storage capability and processing infrastructure restrain the growth of this market. Moreover, the increasing adoption of cloud-based applications and services and the growing use of natural language processing (NLP) and machine learning for chatbots are expected to generate market growth opportunities. However, concerns regarding data privacy are major challenges for market stakeholders. Additionally, the growing use of AI algorithms and tools for predictive analytics are prominent trends in this market.

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The global artificial intelligence in marketing market is segmented by offering (solutions and services), deployment mode (cloud-based deployment and on-premise deployment), organization size (large enterprise and small & medium-sized enterprise), application (content generation, chatbots and virtual assistants, sales & marketing automation, predictive analytics, advertising recommendation, search advertising, social media management, and other applications), and end-use industry (consumer goods, retail, E-commerce, media & entertainment, BFSI, healthcare, food & hospitality, education, transportation, and other end-use industries). The study also evaluates industry competitors and analyzes the market at geographical levels.

Based on offering, the global artificial intelligence in marketing market is segmented into solutions and services. In 2024, the solutions segment is expected to account for the larger share of the global artificial intelligence in marketing market. The large market share of this segment is attributed to the growing demand for customer-driven marketing and advertisement, the growing implementation of AI marketing solutions to automated marketing processes, the rising adoption of AI in marketing solutions in the consumer goods industry, and the growing need to increased content and lead generation to analyze customer preferences, interests, and browsing behavior.

Also, this segment is projected to register the highest CAGR during the forecast period.

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Based on deployment mode, the global artificial intelligence in marketing market is segmented into cloud-based deployment and on-premise deployment. In 2024, the cloud-based deployment segment is expected to account for the larger share of the global artificial intelligence in marketing market. The large market share of this segment is attributed to the growing adoption of cloud-based AI solutions to access customer information and analytics data, the rising implementation to access real-time data and enhance collaboration with customers, and the increasing need to ensure the protection of sensitive customer data.

Additionally, this segment is expected to register the highest CAGR during the forecast period.

Based on organization size, the global artificial intelligence in marketing market is segmented into large enterprise and small & medium-sized enterprise. In 2024, the large enterprise segment is expected to account for the larger share of the global artificial intelligence in marketing market. The large market share of this segment is attributed to the increasing adoption to enable personalized customer experience at scale, the growing use of AI in marketing solutions for data-driven decision making and optimizing marketing campaigns, and the rising need to streamline processes, optimize costs, and prevent human error.

However, the small & medium-sized enterprise segment is expected to register the highest CAGR during the forecast period due to the growing need to streamline the marketing process without significant resource investment, the increasing adoption of chatbots and virtual assistance to enhance customer support and improve customer satisfaction, and the rising adoption for automated targeting, lead generation, and social media management.

Based on application, the global artificial intelligence in marketing market is segmented into content generation, chatbots and virtual assistants, sales & marketing automation, predictive analytics, advertising recommendation, search advertising, social media management, and other applications. In 2024, the content generation segment is expected to account for the largest share of the global artificial intelligence in marketing market. The large market share of this segment is attributed to the growing adoption to automate the creation of high-quality content, the rising implementation of AI algorithms to understand audience preference, the growing use of AI technology such as natural language processing to enhance user experience, and the rising implementation of AI in content generation to boost brand visibility and credibility.

Additionally, this segment is expected to register the highest CAGR during the forecast period.

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Based on end-use industry, the global artificial intelligence in marketing market is segmented into consumer goods, retail, E-commerce, media & entertainment, BFSI, healthcare, food & hospitality, education, transportation, and other end-use industries. In 2024, the consumer goods segment is expected to account for the largest share of the global artificial intelligence in marketing market. The large market share of this segment is attributed to the growing adoption to enable data-driven business models and increase consumer experiences, the increasing adoption of chatbots to improve in-store automation and smarter shopping, and the rising implementation to enable personalized recommendations based on consumer behavior and preference.

However, the media & entertainment segment is expected to register the highest CAGR during the forecast period due to the growing adoption to improve their operations, enhance the consumer experience and create more personalized content, the increasing use of voice recognition technology to allow consumers to control their entertainment experience hands-free, and the rising adoption of AI-driven animation and character modeling to improve the realism of 3D models in films and video games.

Based on geography, the artificial intelligence in marketing market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the global artificial intelligence in marketing market. Organizations in North America have swiftly used AI to increase efficiency, productivity, and consumer experiences, the growing use of AI in the healthcare industry to assist diagnostic processes, predictive analytics, patient care, and drug discovery, and the rising use of AI in marketing to improve transportation, urban planning, and public safety supports the growth of this regional market.

However, the Asia-Pacific region is projected to register the highest CAGR during the forecast period. The growth of this region is driven by the growing adoption of traffic management, data management, and content management, the rising implementation of AI in marketing by businesses to gain consumer insights and make data decisions, rising demand for AI in marketing for content generation in consumer goods industry, and the growing adoption of AI chatbots to enhance customer service and generate personalized recommendations for increased conversions.

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Key Players:

The key players operating in the artificial intelligence marketing market NVIDIA Corporation (U.S.), Salesforce, Inc. (U.S.), Google LLC (U.S.) (A Subsidiary of Alphabet Inc.), Intel Corporation (U.S.), International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), Amazon.com, Inc. (U.S.), Oracle Corporation (U.S.), Baidu, Inc. (China), Micron Technology, Inc. (U.S.), Xilinx, Inc. (U.S.) (A Subsidiary of Advanced Micro Devices, Inc.), Albert Technologies Ltd. (Israel), Appier Inc. (A Subsidiary of Appier Group, Inc.), Twitter, Inc. (U.S.), and Persado Holdings Limited (U.S.).

Key questions answered in the report:

·  Which are the high-growth market segments in terms of the offering, deployment mode, organization size, application, and end-use industry?

·  What is the historical market size for global artificial intelligence in marketing market?

·  What are the market forecasts and estimates for 2024–2031?

·  What are the major drivers, restraints, opportunities, challenges, and trends in the global artificial intelligence in marketing market?

·  Who are the major players in the global artificial intelligence in marketing market, and what are their market shares?

·  What is the competitive landscape like?

·  What are the recent developments in the global artificial intelligence in marketing market?

·  What are the different strategies adopted by major market players?

·  What are the trends and high-growth countries?

·  Who are the local emerging players in the global artificial intelligence in marketing market, and how do they compete with other players?

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