Global Artificial Intelligence in Marketing Market Report and Forecast 2024-2032

Global Artificial Intelligence in Marketing Market Outlook

The global artificial intelligence in marketing market size reached around USD 23.50 billion in 2023. The market is estimated to grow at a CAGR of 22.0% between 2024 and 2032, reaching a value of nearly USD 139.69 billion by 2032.

Key Trends in the Market

Artificial intelligence is one of the leading and widely adopted technologies in the world. In marketing, artificial intelligence is utilised to automate decision-making through the analysis of large databases and additional observations of various audience behaviours and market trends. Some of the most known AI marketing tools include chatbots, personal assistants, recommendation engines, and image recognition, among others.

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• The increasing shift toward digitisation in various sectors is a major trend propelling the artificial intelligence in marketing market growth. Due to the rising popularity of the Internet of Things (IoT) and various technologies, organisations are increasingly adopting advanced technologies to maximise their efficiency and expand their presence in the digital sector.

• Deep learning, a subset of AI, has been a significant factor aiding the market. Deep neural networks have achieved remarkable results in various domains such as natural language processing and recommendation systems, among others, which increases the deployment of artificial intelligence in marketing.

• The rising importance and implementation of customer-centric marketing strategies have been significant global artificial intelligence in marketing market drivers. Companies around the world are increasingly focusing on building strong customer relationships in order to thrive amid the rising competition in the marketing sector. Artificial intelligence provides a great way to enhance a company’s understanding of its customer base and take effective actions to retain its loyalty.

Market Analysis

Based on the offering, the market is segmented into hardware, software, and services. Based on deployment, the market can be bifurcated into cloud and on-premises. Based on technology, the market is divided into deep learning, machine learning, context aware computing, natural language processing, and computer vision.

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The artificial intelligence in marketing market, based on application, is categorised into social media advertising, sales and marketing automation, content curation, virtual assistant, web and app personalisation, search advertising, analytics, and voice search, among others. The market divisions on the basis of end use include BFSI, retail, enterprise, consumer goods, and media and entertainment, among others. The major regional markets for artificial intelligence in marketing are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global artificial intelligence in marketing market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.

• IBM Corporation

• Google LLC

• Salesforce, Inc.

• Quantcast Corp.

• Appier Inc.

• Sentient.io Pte. Ltd.

• Meta Platforms, Inc.

• Amazon Web Services, Inc.

• PM AM Corporation

• Microsoft Corporation

• Adobe Inc.

• Others

Market Share by Deployment

The cloud segment is expected to register a healthy growth during the forecast period. Cloud in artificial intelligence refers to services related to AI provided on cloud servers that are accessible through the internet. The growth of the segment can be attributed to various benefits provided by this type of service, including improved accessibility, affordability, scalability, and easier deployment process compared to on-premises solutions.

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Market Share by Application

Virtual assistants hold a significant market share due to their increasing adoption in different business sectors. A virtual assistant provides multiple benefits to customer care services such as increased interaction with the customer.

Moreover, virtual voice assistants can further enhance a company’s proficiency by handling frequently asked questions from customers. They are widely incorporated in customer services and sales interactions in various business settings.

Competitive Landscape

Google LLC is one of the most prominent software development companies in the world. Established in 1998 and based in the United States, the company has extensive experience in various technological fields such as artificial intelligence, computer software, online advertising, e-commerce, search engine technology, cloud computing, consumer electronics, and quantum computing, among others.

Salesforce, Inc. is one the leading cloud-based software development companies, headquartered in California, the United States. Since the founding of the company in 1999, it has developed its platform for enterprise cloud computing and customer relationship management. Its software is considered to be one of the best to help businesses communicate with their customers.

Quantcast Corp. is an international company engaged in developing digital advertising technologies that are utilised for audience measurement and real-time advertising. The company’s foundation dates back to the year 2006 and its headquarter is located in California, the United States. Quantcast provides various solutions and services to help businesses better understand their online audience and optimise their digital advertising strategies.

Other market players include IBM Corporation, Appier Inc., Sentient.io Pte. Ltd., Meta Platforms, Inc., Amazon Web Services, Inc., PM AM Corporation, Microsoft Corporation, and Adobe Inc., among others.

Key Highlights of the Report