Artificial Intelligence In Marketing Global Market Report 2024

AI in marketing involves the utilization of consumer data for automated decision-making, leveraging algorithms and machine learning engines. These technologies enable the analysis of data gathered from audiences or economic patterns, informing marketing efforts through automated judgments.

The primary technologies employed in artificial intelligence for marketing include machine learning, context-aware computing, natural language processing, and computer vision. Machine learning solutions in marketing involve computer programs capable of learning and adapting to new data without human intervention, maintaining up-to-date algorithms. These technologies are available through hardware, software, and services, deployable via cloud or on-premises. Applications of artificial intelligence in marketing span social media advertising, search advertising, dynamic pricing, virtual assistants, content curation, sales and marketing automation, analytics platforms, and more.

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

The artificial intelligence in marketing market size has grown exponentially in recent years. It will grow from $22.01 billion in 2023 to $28.37 billion in 2024 at a compound annual growth rate (CAGR) of 28.9%. The expansion observed in the historical period can be attributed to factors such as skills development and talent acquisition, the proliferation of data and big data analytics, efforts in personalization and customer segmentation, and the adoption of predictive analytics and forecasting methodologies. Additionally, the utilization of marketing automation platforms has played a significant role in driving growth during this period.

The artificial intelligence in marketing market size is expected to see exponential growth in the next few years. It will grow to $80.3 billion in 2028 at a compound annual growth rate (CAGR) of 29.7%. The anticipated growth in the forecast period can be attributed to several factors, including the escalating integration of AI in e-commerce, a heightened focus on explainable AI and ethical marketing practices, increased adoption of AI for customer segmentation, advancements in image and video recognition technologies, the implementation of enhanced personalization strategies, and the use of advanced predictive analytics. Major trends expected during this period encompass AI-enhanced customer journey mapping, real-time analytics for actionable insights, the incorporation of AI in email marketing optimization, the application of emotion recognition and sentiment analysis, and the optimization of visual search through AI.

The surge in the adoption of virtual assistants is poised to be a driving force behind the growth of artificial intelligence in the marketing market. Virtual assistants, delivered over the internet or specific networks on demand, have gained prominence, especially among small and medium-scale enterprises aiming to streamline their business models. As highlighted in an April 2022 article by ThriveMyWay, it's projected that chatbot ecommerce transactions will reach $112 billion by 2023. Leveraging conversational technologies like virtual agents and chatbots can significantly reduce customer support costs, potentially saving businesses up to 30%. Consequently, the increased adoption of virtual assistants is expected to catalyze demand in the artificial intelligence marketing domain.

The rising prevalence of data analytics solutions within marketing is anticipated to fuel the growth of artificial intelligence (AI) in the marketing market. Data analytics, involving the examination, transformation, and interpretation of data to glean valuable insights and patterns, has become integral for marketing firms. This process aids in gaining profound customer insights, offering timely and relevant offers, nurturing potential leads, and facilitating advanced lead scoring. According to Tech Jury's projections, the data analytics market is set to reach $103 billion by 2023. Additionally, with big data creation estimated to surpass 180 zettabytes by 2025, the significance of data analytics for marketing strategies is expected to drive the expansion of artificial intelligence (AI) in marketing during the forecast period.

The evolution of technology stands as a prominent emerging trend in the artificial intelligence (AI) in marketing market. Software companies are continuously introducing advanced technologies that automate and integrate business models seamlessly. For instance, in September 2021, LionAI, a US-based artificial intelligence (AI) ad-tech analyzer, unveiled a unique ad-tech and marketing automation platform tailored for leaders in higher education marketing. This service, designed for boosting brand awareness and student enrollment, employs paid media and programming. As per LionAI's team, their ad-tech enables clients to potentially increase digital marketing yields by over 20% within 30-60 days, based on their traffic, by eliminating unnecessary ad spending. This innovation empowers universities to scale their digital advertising efforts while enhancing prospective students' engagement and experiences.

Leading enterprises within the artificial intelligence (AI) in marketing market are intensifying their efforts towards introducing Marketing Co-Pilot to gain a competitive edge. This system refers to an AI-driven mechanism that assists in overseeing or managing marketing activities. For instance, in February 2023, Dealtale, an Israel-based software company, unveiled Marketing Co-pilot. This feature harnesses artificial intelligence (AI) to offer marketers immediate responses to intricate queries concerning their historical, current, and anticipated performance metrics. It empowers marketers to inquire about their performance metrics and swiftly receive data-driven answers sourced from their marketing and sales stack, encompassing platforms like Salesforce, HubSpot, Google Analytics, and various social media channels.

In March 2022, Zoomd Technologies Ltd., an Israel-based marketing tech company, revealed its acquisition of Albert Technologies Ltd. for an undisclosed sum. This strategic move by Zoomd is aimed at broadening its product spectrum to encompass a Self-Service and SaaS business model. Leveraging Albert’s expertise in artificial intelligence (AI), Zoomd aims to cater to Fortune 500 customers, allowing them access to a range of Zoomd products and services. Albert Technologies Ltd., based in the US, specializes in offering artificial intelligence marketing solutions.

Major companies operating in the in the artificial intelligence in marketing market report are IBM Corporation, Salesforce. com Inc., Amazon. com Inc., Facebook Inc., Oracle corporation, Appier Inc., GumGum Inc., Heuritech SAS, NetBase Quid Inc., Quantcast Corporation, Persado Inc., Albert Technologies Ltd., Affectiva Inc., Conversica Inc., Brave Bison Group plc, War Room Inc., SmallGiants LLC, Shout Digital Ltd., Major Tom Inc., Blueshift Labs Inc., iKala Interactive Media Inc., Amplero Inc., Clickstrike Inc., Avantgrade LLC, NoGood Inc., Single Grain LLC, Matrix Marketing Group LLC, Near Pte Ltd., Pixis Interactive Inc., Adobe Sensei

Asia-Pacific was the largest region in the artificial intelligence in marketing market in 2023. The regions covered in the artificial intelligence in marketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the artificial intelligence in marketing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The artificial intelligence in the marketing market includes revenues earned by entities by making automated judgments based on audience or economic patterns that may affect marketing activities, data collection, analysis, and other observations. 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.


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