Artificial Intelligence in Marketing Market  Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031

The artificial intelligence in marketing market size is projected to reach US$ 251618.41 million by 2031 from US$ 27554.10 million in 2023. The market is expected to register a CAGR of 31.8% during 2023–2031.  AI-assisted decision making taking the central place is likely to remain a key trend in the market.

Artificial Intelligence in Marketing Market  Analysis

The increasing use of social media platforms for advertising and the rising adoption of customer-centric marketing strategies are among the factors boosting artificial intelligence in marketing market growth. However, the scarcity of personnel well-versed with AI knowledge hinders market growth. Further, the surge in the adoption of cloud-based applications and services creates notable opportunities for artificial intelligence in marketing market players.

Artificial Intelligence in Marketing Market  Overview

Artificial intelligence (AI) technologies are used in marketing to help automated decision-making based on data collection, analysis, and extra audience or economic trend observations that could affect marketing campaigns. AI is frequently utilized in digital marketing campaigns when efficiency is crucial. When speed is crucial in digital marketing endeavors, generative AI is frequently employed. AI marketing solutions learn how to engage with clients most effectively by using data and customer profiles. They then deliver personalized messages at the appropriate moment without the help of marketing team people, guaranteeing optimal productivity. Generative AI is utilized by a large number of modern digital marketers to support their teams or carry out more tactical activities that call for less human delicacy.

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Artificial Intelligence in Marketing Market  Drivers and Opportunities

Rising Adoption of Customer-Centric Marketing Strategies

In order to thrive in the fiercely competitive global marketplace, many businesses, regardless of the industry to which they belong, are focusing on building long-term, mutually beneficial relationships with their clients. The focus of customer engagement tactics and actions has changed in recent years from being mostly product-driven to being more customer-centric. By adopting a customer-centric approach, businesses may anticipate and better serve their customers' requirements at all times. Companies that have effectively transitioned to customer-centric engagement have been shown to have a significant competitive edge as well as increased sales and revenue. More than a third of Fortune 500 organizations, according to the Harvard Business Review, have restructured with the customer in mind, employing journeys, preferences, and segmentation as driving principles. However, a lot of well-known firms have effectively embraced customer-centricity in recent years. Popular customer-focused businesses in the US include USAA, Tumi, and American Express. Airlines like Singapore Airlines, Air Innovative Zealand, and Emirates are abandoning their traditional methods in favor of innovative advertising forms.

The surge in the adoption of cloud

For Cloud users, artificial intelligence (AI) has evolved into a multifunctional tool for data management, security, data analysis, and strategic decision-making. Its grasped capacity to use machine learning and produce objective interpretations of data-driven insights increases these procedures' efficiency and saves the business a substantial amount of money. Utilizing AI software that is built on machine learning algorithms in cloud environments allows companies to provide users and consumers with connected and user-friendly experiences. Therefore, the surge in the adoption of cloud is creating various opportunities for the market.

Artificial Intelligence in Marketing Market  Report Segmentation Analysis

Key segments that contributed to the derivation of artificial intelligence in marketing market analysis are offering, application, and end-use industry.

• Based on the offering, artificial intelligence in marketing market is divided into solutions and services. The solutions segment held a larger market share in 2023.
• By application, the market is segmented into social media advertising, search advertising, dynamic pricing, virtual assistant, content curation, sales & marketing automation, analytics platform, and others. The social media advertising segment held a larger market share in 2023.

By end-use industry, the market is segmented into BFSI, retail, consumer goods, media and entertainment, and others.

Artificial Intelligence in Marketing Market  Share Analysis by Geography

The geographic scope of the artificial intelligence in marketing market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America dominates artificial intelligence in marketing market. The key artificial intelligence in marketing market players, such as Adobe, Amazon Web Services, IBM, Salesforce, and Accenture—have been adopting various organic and inorganic strategies to enhance their revenue and market standings. For example, Appier launched ARTIFICIAL INTELLIGENCEXPERT, an ARTIFICIAL INTELLIGENCE-powered app-based advertising assistant that helps marketers easily scale their performance of sales campaigns through campArtificial Intelligencegns in January 2021. Thus, the market is growing in the region.

Artificial Intelligence in Marketing Market  Report Scope

Artificial Intelligence in Market Regional Insights

The regional trends and factors influencing the Artificial Intelligence in Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Artificial Intelligence in Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Artificial Intelligence in Market Report Scope

Artificial Intelligence in Market Players Density: Understanding Its Impact on Business Dynamics

The Artificial Intelligence in Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Artificial Intelligence in Market are:

1. Affectiva
2. Appier Inc.
3. Bidalgo
4. Novantas (Amplero) Inc.
5. CognitiveScale
6. SAS Institute Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

Artificial Intelligence in Marketing Market  News and Recent Developments

Artificial intelligence in marketing market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in artificial intelligence in marketing market are listed below:

• Clarivate Plc, a leading global provider of transformative intelligence, launched the first publicly available version of Trademark Watch Analyzer today at the 2024 International Trademark Association Annual Meeting. As the next-generation trademark protection solution enhanced by artificial intelligence (AI) and cloud technology, this solution combines Clarivate global trademark and case law data, in-house IP expertise, and cutting-edge AI technology. It will provide faster and more accurate answers to critical business questions by automating key trademark-watching tasks and intelligently prioritizing result sets. (Source: Signify, Press Release, May 2024)
• Omnichannel customer engagement company Emarsys, which has been part of SAP since 2020, announced the launch of AI Product Finder, a new solution for product recommendations and personalized customer experiences. The move responds to consumer interest in AI for commerce, with Emarsys’ data showing that 64% of consumers believe AI has improved their commerce experiences. (Source: Tungsram Group, Press Release, April 2024)

Artificial Intelligence in Marketing Market  Report Coverage and Deliverables

The “Artificial Intelligence in Marketing Market  Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Artificial intelligence in marketing market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Artificial intelligence in marketing market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• artificial intelligence in marketing market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the artificial intelligence in marketing market
• Detailed company profiles