Generative Artificial Intelligence (AI) in Digital Marketing Market Report 2024

This Generative Artificial Intelligence (AI) In Digital Marketing market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The generative artificial intelligence (AI) in digital marketing market size has grown exponentially in recent years. It will grow from $1.88 billion in 2023 to $2.48 billion in 2024 at a compound annual growth rate (CAGR) of 32.1%. The growth observed during the historic period can be attributed to several factors, the increased adoption of digital channels, advancements in AI technology, greater availability of data, rising demand for personalization, cost reductions in marketing, competitive pressure, and improved customer insights.

The generative artificial intelligence (AI) in digital marketing market size is expected to see grown exponentially in the next few years. It will grow to $7.6 billion in 2028 at a compound annual growth rate (CAGR) of 32.3%. The anticipated growth during the forecast period can be attributed to several factors, the expansion of AI capabilities, integration with emerging technologies, a heightened focus on customer experience, the rise of omnichannel marketing, regulatory and privacy considerations, growth in mobile and voice search, and increased investment in AI research. Key trends expected to shape this period include AI-driven content creation, real-time personalization, improved customer interaction tools, predictive analytics, integration with customer relationship management (CRM) systems, the use of AI in creative design, ethical AI practices, and efforts to mitigate bias.

The increasing popularity of video content is anticipated to drive the growth of generative artificial intelligence (AI) in the digital marketing sector. Video content encompasses digital media produced, edited, and shared in video format, including short clips, tutorials, promotional materials, webinars, and live streams. Its growing prominence is attributed to its ability to effectively engage audiences, visually convey complex information, and boost interaction on digital platforms. Generative AI enhances video content creation by automating production processes, personalizing visuals, and optimizing audience engagement. It also supports companies in scaling their marketing efforts, maintaining brand consistency, and targeting diverse audiences efficiently. For instance, a survey by Wyzowl, a UK-based video marketing agency, in February 2024, revealed that 91% of businesses had adopted video content marketing, up from 86% in 2022. Additionally, 75% of video marketers use AI tools for creating or editing marketing videos. This trend underscores how the growing importance of video content is fueling the expansion of generative AI in digital marketing.

Key players in the generative AI for digital marketing market are focusing on incorporating marketing workflow features such as journey optimizers to enhance efficiency and profitability. Journey optimizers automate the personalization and real-time adjustment of customer interactions, improving engagement and campaign effectiveness. For example, Adobe Inc., a U.S.-based software company, introduced Adobe GenStudio in March 2024. This new generative AI tool is designed to streamline marketing workflows and boost customer engagement by assisting teams in planning, creating, managing, activating, and measuring on-brand content. Adobe has also expanded its generative AI toolset with Adobe Firefly and introduced Journey Optimizer, aimed at enhancing customer engagement. These innovations are intended to drive the adoption of Adobe's Experience Cloud, which is used by 11,000 global customers to deliver, measure, and personalize customer experiences.

In July 2024, Canva Pty Ltd, an Australia-based graphic design software provider, acquired Leonardo.AI for an undisclosed amount. This acquisition is intended to strengthen Canva’s position as a comprehensive creative hub by integrating advanced generative AI capabilities. It will enable Canva to enhance its generative AI offerings, improve its image and video creation tools, and expand its AI research initiatives globally. Leonardo.AI, based in Australia, specializes in generative AI for content creation and digital marketing applications.

Major companies operating in the generative artificial intelligence (AI) in digital marketing market are Google LLC, Microsoft Corporation, Meta Platforms Inc., International Business Machines Corporation (IBM), Oracle Corporation, SAP SE, Salesforce Inc., Adobe Inc., Acquia Inc., HubSpot Inc., Zeta Global Inc., Sprinklr Inc., Yext Inc., Hootsuite Inc., SEMrush Inc., Drift Inc., Persado Inc., NetBase Quid Inc., Conversica Inc., Clearbit Inc., Socialbakers Inc., Textio Inc., Cognitivescale Inc., Klevu Ltd., Phrasee Ltd., Amplify.ai Inc.

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

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

Generative artificial intelligence (AI) in digital marketing involves using AI technologies to create content, personalize user experiences, optimize advertisements, and manage social media campaigns. This technology can produce text, images, and videos, thereby enhancing marketing strategies through automated and improved content creation and engagement. It allows businesses to execute targeted and effective marketing efforts, leading to higher customer interaction and conversion rates.

The primary components of generative AI in digital marketing are software and services. Software refers to applications and programs that utilize AI algorithms to automate and enhance digital marketing processes, improving efficiency by generating and managing digital content. The applications of these AI technologies span various channels, including search engine marketing, email marketing, social media marketing, and mobile marketing. They cover areas such as personalization, content generation, social media management, advertising optimization, and predictive analysis, among others.

The generative artificial intelligence (AI) in digital marketing market research report is one of a series of new reports that provides generative artificial intelligence (AI) in digital marketing market statistics, including generative artificial intelligence (AI) in digital marketing industry global market size, regional shares, competitors with an generative artificial intelligence (AI) in digital marketing market share, detailed generative artificial intelligence (AI) in digital marketing market segments, market trends and opportunities, and any further data you may need to thrive in the generative artificial intelligence (AI) in digital marketing industry. This generative artificial intelligence (AI) in digital 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 generative artificial intelligence (AI) in digital marketing market consists of revenues earned by entities by providing services such as influencer identification and collaboration, product and content recommendations, content strategy, customer journey mapping, email campaigns. The market value includes the value of related goods sold by the service provider or included within the service offering. The generative artificial intelligence (AI) in the digital marketing market also includes sales of products such as AI-powered content generation tools, personalization software, ad optimization platforms, social media automation tools, and customer engagement systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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