Market Overview

According to our new market research study on “Artificial Intelligence in Marketing Market to 2028 – COVID-19 Impact and Global Analysis – by Offering, Application, End-Use Industry, and Geography,” ,” the market was valued at US$ 12,044.46 million in 2020 and is projected to reach US$ 107,535.57 million by 2028; it is expected to grow at a CAGR of 31.6% during 2021–2028. The rising adoption of customer-centric marketing strategies and increasing use of social media for advertising are among the factors contributing to the growth. However, limited availability of working professionals with expertise in AI restrains the growth of the artificial intelligence in marketing market. Nevertheless, surge in the adoption of cloud-based applications and services creates significant opportunities for vendors operating in artificial intelligence in marketing market.

Based on offering, artificial intelligence in marketing market is segmented into solutions and services. In 2020, the solutions segment led the market, and it is further anticipated to be a larger shareholder in the market during 2021–2028, i.e., the forecast period considered for the market study. However, the services segment is expected to witness a higher CAGR during the forecast period. Various companies along with their marketing teams are focused on adopting intelligent solutions to enhance operational efficiency and improve customer experience, which is contributing to the market growth of the solutions segment.

Cloud computing is lowering the entry barriers for smaller companies seeking to gain profits from compute-intensive business analytics, which was earlier considered as feasible option for large corporations only. Smaller companies are increasingly gaining access to AI. These cloud-based AI solutions effectively allow and escalate the adoption of AI. Cloud-based applications and services can provide users with immediate access to hardware services with no upfront capital investments, resulting in a faster time to market in many industries. Hence, the cloud has become an adaptable infrastructure that can be shared by different end users that may use it in different ways. Overall, the cloud-based applications and services lowered costs, defined services, and reduced risks, along with providing easy access to the latest technologies. Google Cloud Machine Learning Platform, Google Cloud Vision API, Lex – the technology behind Amazon Alexa, Microsoft Azure, and IBM Bluemix are among the common examples of cloud-based AI services. The most valuable aspect of these services is they enable ready-to-use platforms for improving existing products and processes. Thus, the growth in adoption of cloud-based applications and services is serving as an opportunity for artificial intelligence in marketing market players.

Top Key players - 

  1. Affectiva
  2. Appier Inc.
  3. Bidalgo
  4. Novantas (Amplero), Inc.
  5. CognitiveScale
  6. SAS Institute Inc.
  7. SAP SE
  8., inc.
  9. Oracle Corporation
  10. IBM Corporation
  11. Amazon Web Services
  12. Adobe
  13. Accenture
  14. Microsoft Corporation
  15. Xilinx, Inc.