Artificial Intelligence in Marketing Market Statistics: 2030
Artificial intelligence in marketing is the use of AI-based technologies to make automated marketing decisions based upon data collected & analyzed to market the product based upon consumer behavior and perception. Artificial intelligence marketing techniques increase the efficiency of marketing budget and are more effective than traditional methods. Artificial intelligence in marketing is used to understand customer behavior, advertisements, social media marketing, data filtering, and analysis. Predictive analytics provided by artificial intelligence facilitates marketing firms in customer acquisition and lead generation. With the use of AI-based virtual support, such as digital communication and chatbots, marketing companies can manage customer relationship services in a better way, and it will help companies in understanding customer’s choice, which improves the overall experience. Considerable improvement in machine learning algorithms drives the large-scale adoption of AI technology in marketing.
COVID-19 scenario analysis:
- The spread of COVID-19 virus emerged as the global pandemic significantly affecting the large-scale industries to shutdown partially due to the imposed lockdown restriction by the government. However, COVID-19 is anticipated to accelerate the adoption of latest technologies. Companies have implemented new approaches to deliver product and services to their customer.
- With the emergence of the latest 5G technology, the data consumption is expected to grow die to lockdown and social distancing norms, creating an opportunity for businesses to deliver services based on consumer behavior and preferences. Companies have shifted their operation from on-premise to cloud based, creating opportunity for the artificial intelligence in marketing market growth.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The rapid increase in need for virtual assistants, rise in usage of social media for advertising, and high adoption of customer-centric marketing strategies are the factors that drive the growth of the artificial intelligence in marketing market. In addition, advancement in big data analytics and increase in use of AI-based products and services to enhance consumer experience are also expected for market growth. However, high cost of maintenance, continuous supervision, and security issues are the factors expected to hamper the artificial intelligence in marketing market growth. Furthermore, the rise in adoption of cloud-based applications & services and growth of marketing analytics are expected to create lucrative opportunities that will lead to the growth of the artificial intelligence in marketing market.
The market trends for artificial intelligence in marketing market are as follows:
Adoption of customer-centric marketing strategies
Customers are valuable assets to any company. Companies are focusing on developing long-term relationship with their customers to survive in the competitive Artificial intelligence in marketing market. Over a period of time, companies have shifted from product driven marketing strategy to customer centric marketing strategy. The reason behind the shift is to better understand their customers and predict the consumer behavior based upon their product purchase. Customer-centric strategy emphasizes on providing an outstanding customer experience both before and after sales to create opportunities of order repetition along with increasing customer loyalty and encouraging business development.
Asia-Pacific to expect fastest growth during the forecast period
Asia-Pacific is expected to be the fastest growing market during the forecast period. This region constitutes the most populated and developing countries such as India and China. These countries are adopting the latest technologies rapidly to support government initiatives to digitalizing nation. The adoption of AI by large and small & medium enterprises in this region provides lucrative growth opportunities to the growth of the artificial intelligence in marketing market.
Key benefits of the report:
- This study presents analytical depiction of the artificial intelligence in marketing market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Artificial intelligence in marketing market share.
- The current market is quantitatively analyzed to highlight the artificial intelligence in marketing market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on the present and future competitive intensity of thea intelligence in marketing market.
Questions answered in the artificial intelligence in marketing market research report:
- Which are the leading players active in the artificial intelligence in marketing market?
- What are the detailed impacts of COVID-19 on the market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
Artificial Intelligence in Marketing Market Report Highlights
By Deployment Type
By End User Industry
Key Market Players
Facebook, Oracle Corporation, Microsoft, Amazon, IBM Corporation, Intel Corporation, Samsung Electronics, Sentient Technologies, Albert Technologies, NVIDIA