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Dublin, June 02, 2021 (GLOBE NEWSWIRE) -- The "Artificial Intelligence in Marketing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering, Application, End-Use Industry, and Geography" report has been added to ResearchAndMarkets.com's offering.

The global artificial intelligence in marketing 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 31.4% from 2020 to 2028.

The rising adoption of customer-centric marketing strategies and increasing use of social media platforms for advertising are among the factors boosting the artificial intelligence in marketing market growth. However, scarcity of personnel well-versed with AI knowledge hinders the market growth. Further, surge in the adoption of cloud-based applications and services creates notable opportunities for the artificial intelligence in marketing market players.

The use of artificial intelligence in marketing helps the marketers to use customer's data to draw important insights of their buying behavior and preferences, among others. It is used in applications such as dynamic pricing, social media advertising, and sales & marketing automation. Artificial intelligence uses concepts such as machine learning to know these patterns, which helps companies to plan their next move accordingly. In the recent years, there has been an unprecedented increase in social media engagement . According to DIGITAL 2021, ~0.5 billion new users joined the world's social media networks in the beginning of 2021. Moreover, in January 2021, there were 4.20 billion social media users worldwide. This number has increased by 490 million in the last year, representing year-on-year growth of more than 13%. During 2020, more than 1.3 million new users joined the social media streams on average every day, i.e., ~15 new users every second.

Many companies have realized the platform's tremendous potential and are using it for ecommerce, customer support, marketing, and public relations, among others. Artificial intelligence have become an unintegral part social media networks today. Social networks such as Facebook, LinkedIn, Instagram, and Snapchat allow marketers to run paid advertising to platform users based on demographic and behavioral targeting. For instance, according to DIGITAL 2020, in January 2020, the potential number of people that marketers can reach using advertisements was 1.95 billion on Facebook, 928.5 million on Instagram, 663.3 million on LinkedIn, 381.5 million on Snapchat, 339.6 million on Twitter, and 169.0 million on Pinterest. Moreover, in January 2019, a total of US$ 89.91 billion was spent on social media ads. In the same month, the total global digital ad spend was US$ 333.3 billion, which accounts for 50.1% of the total global ad expenditure. Of the total digital ad spend, Google, Facebook, Alibaba, and Amazon accounted for 31.1%, 20.2%, 8.8%, and 4.2%, respectively. Thus, the increasing use of social media for advertising is bolstering the AI in marketing market growth.

Based on offering, the artificial intelligence in marketing market is segmented into solutions and services. In 2020, the solutions segment held the larger market share, and it is further projected to account for a larger share during 2021-2028. However, the services segment is expected to register a higher CAGR in the market during the forecast period.

The COVID-19 virus outbreak has been affecting every business globally since December 2019. The continuous growth in the number of virus-infected patients has governments to put a bar on transportation of humans and goods. However, on the contrary, COVID-19 on the other side is anticipated to accelerate private 5G and LTE adoption. Among B2C and consumer, the data consumption is expected to grow as social distancing continues. Also, the enterprises pivot to digital models and function virtually, the rate of data consumption will endure to boom and as result creating demand for establishing connectivity-centric ecosystem.

The Industrial Bank of Korea (IBK), European Association for Artificial Intelligence (EurAI), European Lab for Learning & Intelligent Systems (ELLIS), Organization for Economic Co-operation and Development, and Association for the Advancement of Artificial Intelligence (AAAI) are among the prime secondary sources referred to while preparing this report.

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology3.1 Coverage3.2 Secondary Research3.3 Primary Research

4. Artificial Intelligence in Marketing Market Landscape4.1 Market Overview4.2 Ecosystem Analysis4.3 Expert Opinion4.4 PEST Analysis4.4.1 Artificial Intelligence in Marketing Market - North America PEST Analysis4.4.2 Artificial Intelligence in Marketing Market - Europe PEST Analysis4.4.3 Artificial Intelligence in Marketing Market - APAC PEST Analysis4.4.4 Artificial Intelligence in Marketing Market - MEA PEST Analysis4.4.5 Artificial Intelligence in Marketing Market - SAM PEST Analysis

5. Artificial Intelligence in Marketing Market - Key Industry Dynamics5.1 Market Drivers5.1.1 Rising Adoption of Customer-Centric Marketing Strategies5.1.2 Increasing Use of Social Media for Advertising5.2 Market Restraints5.2.1 Limited Number of Artificial Intelligence (AI) Experts5.3 Market Opportunities5.3.1 Growth in Adoption of Cloud-Based Applications and Services5.4 Future Trends5.4.1 Dynamic Personalized Ad Serving5.5 Impact Analysis of Drivers and Restraints

6. Artificial Intelligence in Marketing Market - Global Market Analysis

7. Artificial Intelligence in Marketing Market - By Offering

8. Artificial Intelligence in Marketing Market - By Application

9. Artificial Intelligence in Marketing Market - By End-Use Industry

10. Artificial Intelligence in Marketing Market - Geographic Analysis

11. Impact of COVID-19 Pandemic11.1 Overview11.2 Impact of COVID-19 Pandemic on Global Artificial Intelligence in Marketing Market11.2.1 North America: Impact Assessment of COVID-19 Pandemic11.2.2 Europe: Impact Assessment of COVID-19 Pandemic11.2.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic11.2.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic11.2.5 South America: Impact Assessment of COVID-19 Pandemic

12. Artificial Intelligence in Marketing Market - Industry Landscape12.1 Overview12.2 Growth Strategies Done by the Companies in the Market, (%)12.3 Organic Developments12.3.1 Overview12.4 Inorganic Developments12.4.1 Overview

13. Company Profiles13.1 Affectiva13.1.1 Key Facts13.1.2 Business Description13.1.3 Products and Services13.1.4 Financial Overview13.1.5 SWOT Analysis13.1.6 Key Developments13.2 Appier Inc.13.2.1 Key Facts13.2.2 Business Description13.2.3 Products and Services13.2.4 Financial Overview13.2.5 SWOT Analysis13.2.6 Key Developments13.3 Bidalgo13.3.1 Key Facts13.3.2 Business Description13.3.3 Products and Services13.3.4 Financial Overview13.3.5 SWOT Analysis13.3.6 Key Developments13.4 Novantas (Amplero), Inc.13.4.1 Key Facts13.4.2 Business Description13.4.3 Products and Services13.4.4 Financial Overview13.4.5 SWOT Analysis13.4.6 Key Developments13.5 CognitiveScale13.5.1 Key Facts13.5.2 Business Description13.5.3 Products and Services13.5.4 Financial Overview13.5.5 SWOT Analysis13.5.6 Key Developments13.6 SAS Institute Inc.13.6.1 Key Facts13.6.2 Business Description13.6.3 Products and Services13.6.4 Financial Overview13.6.5 SWOT Analysis13.6.6 Key Developments13.7 SAP SE13.7.1 Key Facts13.7.2 Business Description13.7.3 Products and Services13.7.4 Financial Overview13.7.5 SWOT Analysis13.7.6 Key Developments13.8 Salesforce.com, inc.13.8.1 Key Facts13.8.2 Business Description13.8.3 Products and Services13.8.4 Financial Overview13.8.5 SWOT Analysis13.8.6 Key Developments13.9 Oracle Corporation13.9.1 Key Facts13.9.2 Business Description13.9.3 Products and Services13.9.4 Financial Overview13.9.5 SWOT Analysis13.9.6 Key Developments13.10 IBM Corporation13.10.1 Key Facts13.10.2 Business Description13.10.3 Products and Services13.10.4 Financial Overview13.10.5 SWOT Analysis13.10.6 Key Developments13.11 Amazon Web Services13.11.1 Key Facts13.11.2 Business Description13.11.3 Products and Services13.11.4 Financial Overview13.11.5 SWOT Analysis13.11.6 Key Developments13.12 Adobe13.12.1 Key Facts13.12.2 Business Description13.12.3 Products and Services13.12.4 Financial Overview13.12.5 SWOT Analysis13.12.6 Key Developments13.13 Accenture13.13.1 Key Facts13.13.2 Business Description13.13.3 Products and Services13.13.4 Financial Overview13.13.5 SWOT Analysis13.13.6 Key Developments13.14 Microsoft Corporation13.14.1 Key Facts13.14.2 Business Description13.14.3 Products and Services13.14.4 Financial Overview13.14.5 SWOT Analysis13.14.6 Key Developments13.15 Xilinx, Inc.13.15.1 Key Facts13.15.2 Business Description13.15.3 Products and Services13.15.4 Financial Overview13.15.5 SWOT Analysis13.15.6 Key Developments

14. Artificial Intelligence in Marketing Market- Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/xrvozg

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Insights on the Artificial Intelligence in Marketing Global Market to 2028 - by Offering, Application, End-use - GlobeNewswire