Generative AI in Marketing Global Market Report 2024

The generative AI in marketing market size has grown exponentially in recent years. It will grow from $2.7 billion in 2023 to $3.64 billion in 2024 at a compound annual growth rate (CAGR) of 34.6%. The rise observed in the past period can be attributed to the development of AI algorithms, expansion of data volume, cost reduction, proliferation of digitalization, and the surge in e-commerce.

The generative AI in marketing market size is expected to see exponential growth in the next few years. It will grow to $12.08 billion in 2028 at a compound annual growth rate (CAGR) of 35%. The anticipated growth in the upcoming period can be attributed to the expansion of content marketing, the increasing prominence of influencer marketing, personalization of the customer journey, adherence to ethical AI practices, and the growing demand for AI-generated content. Key trends expected in the forecast period include AI-driven content creation, hyper-personalization, integration of predictive analytics, enhanced creative collaboration through AI, and solutions for regulatory compliance.

The expansion of e-commerce is set to drive the growth of the generative AI in marketing market in the foreseeable future. E-commerce involves the online buying and selling of goods and services, fueled by factors such as increasing internet accessibility, evolving consumer preferences favoring online shopping, convenience, and improvements in logistics and payment systems. Generative AI plays a crucial role in e-commerce by personalizing product recommendations, crafting targeted advertising content, and generating compelling product descriptions tailored to individual customer preferences, thereby enhancing the overall shopping experience and boosting sales. For instance, in February 2024, the United States Census Bureau reported a 0.4% increase in total retail e-commerce sales to$1.83 trillion in the fourth quarter of 2023 compared to the third quarter of the same year, underlining the significance of e-commerce growth in driving the generative AI in marketing market.

Key players in the generative AI in marketing sector are innovating with AI technology to elevate the creative process and performance of marketing campaigns. Generative AI enables marketers to streamline creativity, improve campaign effectiveness, and deliver more personalized experiences to their audience, ultimately leading to better marketing outcomes and ROI. For example, in January 2023, AppsFlyer introduced Creative Optimization, an AI-powered solution aimed at enhancing the creative process and performance of marketing campaigns. This solution offers marketers valuable insights and data-driven guidance to optimize their creative assets, identify engagement-driving trends and features, and enhance campaign effectiveness through informed decision-making and collaboration among performance marketing, creative, and BI teams.

In February 2024, Jasper AI Inc., a Canadian software company, acquired ClipDrop from Stability AI to expand its copilot solution for enterprise marketing teams. This acquisition will enable Jasper to provide comprehensive generative AI and machine learning capabilities for marketing tasks, empowering teams to develop highly personalized and optimized marketing strategies. Clipdrop, a French company specializing in generative AI for marketing, contributes expertise in tasks such as generating product mockups, crafting social media graphics, and customizing visuals for marketing campaigns.

Major companies operating in the generative AI in marketing market are Alphabet Inc., Microsoft Corporation, Amazon Web Services, International Business Machines Corporation (IBM), Baidu Inc., Adobe Inc., OpenAI, Zeta Global., Appier Inc., Persado Inc., Benchsci Inc., Bluecore Inc., Bizzabo Ltd., Conversica Inc., Cognitivescale Inc., Acquisio Inc., Brighterion Inc., ClarifAI inc., B12 Inc., AYLIEN Ltd., Synthesis AI, Amplero Inc., Genie Artificial Intelligence Ltd., MOSTLY AI inc., Rephrase.AI.

North America was the largest region in the generative AI in marketing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative AI in marketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the generative AI in marketing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Generative AI in marketing involves the application of artificial intelligence techniques, particularly generative models, to generate content, designs, or strategies for marketing purposes. It is employed to produce diverse and personalized content such as advertisements, product descriptions, and social media posts.

The primary components of generative AI in marketing comprise services and software. Services refer to the provision of assistance, expertise, or resources to fulfill specific needs or requirements, often provided in exchange for payment or as part of a larger system. Various system types include text models and multimodal models, which can be applied to various tasks such as content generation, search engine optimization (SEO), lead nurturing and scoring, reporting and analytics, social media marketing, and more. It finds application across multiple industries including media and entertainment, information technology and telecommunications, healthcare, automotive and transportation, banking, financial services, insurance, retail, e-commerce, and others.

The generative AI in marketing market research report is one of a series of new reports that provides generative AI in marketing market statistics, including generative AI in marketing industry global market size, regional shares, competitors with generative AI in marketing market share, detailed generative AI in marketing market segments, market trends, and opportunities, and any further data you may need to thrive in the generative AI in the marketing industry. This generative AI in marketing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The generative AI in marketing market includes revenues earned by entities by providing services including strategy development, implementation services, content generation services, and personalization services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.