AI In Marketing Market Trend, Share, Growth, Size, Analysis and Forecast 2030

AI In Marketing Market

AI In Marketing Market By Component (Software and Services), By Application (Search Engine Marketing, Social Media Advertising, Virtual Assistant, Sales & Marketing Automation, Analytics Platform, Content Curation and Others), By Technology (Natural Language Processing, Machine Learning, Computer Vision and Others), By Industry Vertical (Consumer Goods, BFSI, Media & Entertainment, IT & Telecommunications, Retail and Others) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030

Category: Technology & Media Report Format : PDF Pages: 206 Report Code: ZMR-7937 Published Date: Jan-2024 Status : Published
Market Size in 2022 Market Forecast in 2030 CAGR (in %) Base Year
USD 12.5 Billion USD 72.1 Billion 24.5% 2022

AI In Marketing Industry Prospective:

The global AI In Marketing market size was worth around USD 12.5 billion in 2022 and is predicted to grow to around USD 72.1 billion by 2030 with a compound annual growth rate (CAGR) of roughly 24.5% between 2023 and 2030.    

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AI In Marketing Market: Overview

In marketing, artificial intelligence refers to the application of AI-based technology to automatically make decisions about marketing based on data that is gathered and examined to promote the product based on customer behavior and perception. Artificial intelligence marketing strategies outperform conventional methods in terms of efficacy and efficiency of marketing expenditure. Artificial intelligence is utilized in marketing to comprehend consumer behavior, data filtering and analysis, social media marketing, and commercials.

Marketing companies may generate leads and acquire customers more easily with the use of artificial intelligence-powered predictive analytics. Marketing firms may better manage customer relationship services and get insight into customers' preferences by utilizing AI-powered virtual assistance, such as chatbots and digital communication. This enhances the customer experience overall. The widespread use of AI in marketing is fueled by significant advancements in machine learning algorithms.

Key Insights

  • As per the analysis shared by our research analyst, the global AI In Marketing market is estimated to grow annually at a CAGR of around 24.5% over the forecast period (2023-2030).
  • In terms of revenue, the global AI In Marketing market size was valued at around USD 12.5 billion in 2022 and is projected to reach USD 72.1 billion, by 2030.
  • The growing need for automation in marketing drives the market expansion during the projected period.
  • Based on the component, the services segment is expected to dominate the market over the forecast period.
  • Based on the application, the Content Curation segment is expected to hold the largest market share during the forecast period.
  • Based on the technology, the Machine Learning segment is expected to dominate the market growth during the projected period.
  • Based on region, North America is expected to dominate the market during the forecast period.

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AI In Marketing Market: Growth Drivers

Various benefits of using AI in marketing drive market growth

The various benefits offered by AI in marketing are expected to propel AI in marketing industry growth during the forecast period. The benefits of AI in marketing include faster and smarter decision-making, Improved ROI and many others. Modern AI techniques enable marketing teams to monitor the results of their campaigns almost instantly and modify their strategy as necessary. Using machine learning (ML) algorithms, AI marketing systems can generate AI marketing plans, evaluate data more quickly than people, and suggest actions based on sentiment analysis of past consumer data.

Moreover, with the use of artificial intelligence (AI) marketing solutions, marketers can quickly extract valuable insights from campaign data. The same technologies may also be used to determine the best places for an advertisement based on consumer behavior and the appropriate channels for a media buy. A modern AI marketing solution helps stakeholders make sure they are receiving the maximum return on their campaign expenditure.

AI In Marketing Market: Restraints

Challenges encountered while utilizing AI-driven marketing hamper market growth

Implementing even the most basic AI applications may be difficult. Even with its lower degree of technological sophistication, organizations must have the necessary AI skills to use stand-alone task automation AI, which can still be challenging to configure for specific workflows. Any artificial intelligence that is implemented into a workflow must combine human and machine tasks for AI to enhance human talents rather than be used in a way that creates issues.

For instance, a lot of businesses use rule-based chatbots to automate their customer service procedures. The disadvantages of utilizing AI in marketing are probably going to hinder the market's growth.

AI In Marketing Market: Opportunities

Automation of marketing offers a lucrative opportunity for market growth

Businesses may continue to target particular consumers while automating their digital marketing with the help of AI. A high degree of personalization in marketing is the result of the seamless integration of automation and artificial intelligence-achieved personalization. Companies may also obtain a competitive edge by actively seeking out new clients, which is crucial for any company in an industry that is rapidly growing.

Businesses utilizing AI systems may now automate pay-per-click (PPC) advertisements, search engine marketing (SEM), search engine optimization (SEO), social media marketing (SMM), conversion rates, and keyword research. Therefore, it is projected that the growing trend of adopting AI automation for marketing will lead to a surge in market expansion.

AI In Marketing Market: Challenges

Training of AI solutions poses a major challenge to market growth

AI has to get extensive training to learn a new task, much like humans. For instance, the individual would have to spend the time and money required to train the AI system if they wanted it to interact with their clients interestingly. They will require a lot of consumer preference data and maybe data scientists with skills in this area to develop an application such as this one.

AI In Marketing Market: Segmentation

The Global AI In Marketing industry is segmented based on the component, application, technology, industry vertical, and region.

Based on the component, the global AI In Marketing market is bifurcated into Software and Services. The services segment is expected to dominate the market over the forecast period. The application of AI to improve customer support and service is referred to as the "service" part of AI in marketing. AI-driven customer care solutions are enabling businesses to provide incredibly customized customer care. By examining consumer data, such as past purchases and browsing patterns, AI systems may offer personalized recommendations and solutions that increase customer happiness. Additionally, AI is assisting businesses in providing quicker, more effective, and more customized customer care. They may anticipate seeing even more cutting-edge solutions in the AI services sector as the technology advances.

Based on the application, the global AI In Marketing industry is categorized into Search Engine Marketing, Social Media Advertising, Virtual Assistant, Sales & Marketing Automation, Analytics Platform, Content Curation and Others. The Content Curation segment is expected to hold the largest market share during the forecast period. With the use of machine learning algorithms to examine user behavior and preferences, AI-powered content recommendation engines are growing increasingly complex and offering tailored content recommendations. The need for AI in marketing is growing as a result of this since it enables marketers to provide their audience with more pertinent and interesting information. AI is also being used to create content, such as social media updates and blog pieces. AI can provide content that is tailored for certain audiences and channels by using machine learning and natural language processing algorithms. This makes it simpler for marketers to generate content on a large scale. Chatbots, digital avatars, and voice assistants are examples of virtual assistants. These tools employ machine learning techniques, computer vision, and natural language processing to comprehend and react to user requests.

Based on the technology, the global AI In Marketing market is segmented into Natural Language Processing, Machine Learning, Computer Vision and Others. The Machine Learning segment is expected to dominate the market growth during the projected period. Machine learning (ML) technologies enable computers to comprehend, analyze, and produce text by enabling them to carry out tasks including sentiment analysis, machine translation, text production, and question answering. Personalized recommendation systems, chatbots, and virtual assistants are just a few of the many applications that frequently leverage these technologies. Machine learning is predicted to increase and become increasingly important in the development of artificial intelligence due to the daily generation of unstructured text data.

Based on the industry vertical, the global AI In Marketing industry is segmented into Consumer Goods, BFSI, Media & Entertainment, IT & Telecommunications, Retail and Others.

AI In Marketing Market: Report Scope

Report Attributes Report Details
Report Name AI In Marketing Market
Market Size in 2022 USD 12.5 Billion
Market Forecast in 2030 USD 72.1 Billion
Growth Rate CAGR of 24.5%
Number of Pages 206
Key Companies Covered NVIDIA Corporation, Google, Microsoft, IBM, Salesforce, Qualcomm, Intel Corporation, Samsung, Micron Technology Inc., Amazon Web Services, Inc., Apple Inc., Next IT Corp., Facebook, Siemens, General Electric, Oracle, Enlitic Inc., Xilinx, Albert Technologies, Iteris Inc., and others.
Segments Covered By Component, By Application, By Technology, By Industry Vertical, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2022
Historical Year 2017 to 2021
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Regional Analysis

North America is expected to dominate the AI In Marketing market during the forecast period

North America is expected to dominate the AI In Marketing industry during the forecast period. The rise of the retail, BFSI, healthcare, automotive, and other industries is credited with the region's development. The many well-known IT companies in the area are aware of the exciting opportunities that artificial intelligence (AI) in marketing offers.

Furthermore, both major and small businesses in the region—especially when compared to the rest of the world—are heavily utilizing AI. The AI industry is heavily influenced by North America, which is expected to keep growing. Moreover, the presence of major companies including IBM, Microsoft and others also propelled the market growth in the region.

For instance, in November 2023, IBM announced that it is starting a $500 million venture fund to finance a variety of AI businesses, from hyper-growth startups to early-stage firms, to advance generative AI research and technology for the business.

AI In Marketing Market: Competitive Analysis

The global AI In Marketing market is dominated by players like:

  • NVIDIA Corporation
  • Google
  • Microsoft
  • IBM
  • Salesforce
  • Qualcomm
  • Intel Corporation
  • Samsung
  • Micron Technology Inc.
  • Amazon Web Services
  • Inc.
  • Apple Inc.
  • Next IT Corp.
  • Facebook
  • Siemens
  • General Electric
  • Oracle
  • Enlitic Inc.
  • Xilinx
  • Albert Technologies
  • Iteris Inc.

The global AI In Marketing market is segmented as follows:

By Component

  • Software
  • Services

By Application

  • Search Engine Marketing
  • Social Media Advertising
  • Virtual Assistant
  • Sales & Marketing Automation
  • Analytics Platform
  • Content Curation
  • Others

By Technology

  • Natural Language Processing
  • Machine Learning
  • Computer Vision
  • Others

By Industry Vertical

  • Consumer Goods
  • BFSI
  • Media & Entertainment
  • IT & Telecommunications
  • Retail
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

In marketing, artificial intelligence refers to the application of AI-based technology to automatically make decisions about marketing based on data that is gathered and examined to promote the product based on customer behavior and perception. Artificial intelligence marketing strategies outperform conventional methods in terms of efficacy and efficiency of marketing expenditure.

The AI In Marketing market is being driven by several factors including growing investment, rising product launches and growing technological advancements. Additionally, the increasing collaboration among the participants is also propelling the market expansion during the forecast period.

According to the report, the global market size was worth around USD 12.5 billion in 2022 and is predicted to grow to around USD 72.1 billion by 2030.

The global AI In Marketing market is expected to grow at a CAGR of 24.5% during the forecast period.

The global AI In Marketing market growth is expected to be driven by North America. It is currently the world’s highest revenue-generating market due to the growing presence of major players.

The global AI In Marketing market is dominated by players like NVIDIA Corporation, Google, Microsoft, IBM, Salesforce, Qualcomm, Intel Corporation, Samsung, Micron Technology, Inc., Amazon Web Services, Inc., Apple Inc., Next IT Corp., Facebook, Siemens, General Electric, Oracle, Enlitic, Inc., iCarbonX, Xillinx, Albert Technologies and Iteris Inc. among others.

The AI In Marketing market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.

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