Dynamic Personalized Ad Serves as Prevalent Trend in Artificial Intelligence in Marketing Market
According to our new market research study on “Artificial Intelligence in Marketing Market to 2028 – COVID-19 Impact and Global Analysis – by Offering, Application, End-Use Industry, and Geography,” the market was valued at US$ 12,044.46 million in 2020 and is projected to reach US$ 107,535.57 million by 2028; it is expected to grow at a CAGR of 31.6% during 2021–2028. Rising adoption of customer-centric marketing strategies and increasing use of social media for advertising are the factors driving the artificial intelligence in marketing market. However, the limited availability of professionals with expertise in AI may restrain the growth of the market. Despite these limitations, the growth in adoption of cloud-based applications and services creates a huge opportunity for vendors operating in artificial intelligence in marketing market.
Based on application, the artificial intelligence in marketing market is segmented into search advertising, social media advertising, dynamic pricing, virtual assistant, content curation, sales and marketing automation, and others. In 2020, the social media advertising segment secured a dominant share of the market, and the adoption of this advertising strategy is expected to be high during the forecast period. However, the virtual assistant segment is anticipated to witness fastest growth in the market during the forecast years.
Understanding the audience in real-time allows personalization of the customer's ad experience, which is very important nowadays. In recent years, enterprises have adopted highly personalized advertising strategies with the help of AI. This has made customers expect ad experiences that are targeted to their unique needs and interests. This strategy is becoming increasingly popular, and it is producing incredible results. For instance, Google and Facebook are experts in personalized ad serving; they serve tailored advertising to each user category rather than bombarding them with generalized content. They use a collection of data points that their machine learning algorithm gathers, digests, and extrapolates on a user's behavior over time to serve personalized ads. Moreover, they do it on a large scale with extremely high efficiency.
Customers view a specific ad because AI can predict what product customers will be looking for and what type of content customers will be interested in, by using their behavioral and demographic data. Leveraging emerging technologies to understand customers’ online buying behavior behave helps companies provide personalized ad experiences to them.
The COVID-19 outbreak has been affecting every business globally since December 2019. The continuous and vigorous growth in the number of infected patients has led governments to put a bar on transportation of humans and goods. However, a rise in the adoption of private 5G and LTE networks is expected amid the pandemic. Data consumption is expected to grow with social distancing norms in effect in the B2C and other consumer operations. Also, the enterprises have started shifting to digital models and virtual operations, which has further boosted the rate of data consumption, thus creating demand for the establishment of connectivity-centric ecosystems.
Affectiva; Appier Inc.; Bidalgo, Novantas (Amplero), Inc.; CognitiveScale; SAS Institute Inc.; SAP SE; Salesforce.com, inc.; Oracle Corporation; IBM Corporation; Amazon Web Services; Adobe; Accenture; Microsoft Corporation; and Xilinx, Inc. are among the leading companies in the artificial intelligence in marketing market.
The report segments global artificial intelligence in marketing market as follows:
By Offering
By Application
- Social Media Advertising
- Search Advertising
- Dynamic Pricing
- Virtual Assistant
- Content Curation
- Sales & Marketing Automation
- Analytics Platform
- Others
By End-Use Industry
- BFSI
- Retail
- Consumer Goods
- Media and Entertainment
- Others
By Geography
- North America
- Europe
- France
- Germany
- UK
- Russia
- Italy
- Asia Pacific (APAC)
- China
- India
- Japan
- Australia
- Taiwan
- South Korea
- Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- South and Central America (SCAM)
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