Artificial intelligence in marketing bridges the gap between data science and its execution. It is an efficient technique adapted to improve the customer experience by enhancing the customer data and associated elements of artificial intelligence like machine learning. The advent of advanced algorithms that facilitates high computational capabilities in business organization processes helps in problem-solving and efficient decision-making. In addition, artificial intelligence effectively automates the marketing activity, which in turn increases return on investment and lowers the errors in web promotion.
The growing adoption of consumer-centric marketing strategies along with a surge of social media platforms to promote a variety of products and services are likely to steer the growth of the global artificial intelligence in the marketing market over the forecast period. However, the massive utilization of artificial intelligence in enhancing content curation activities, web searches, and analytics will also boost the market expansion. Also, the utilization of artificial intelligence encourages marketers to conclude accurate inferences from data offered by end-users, thereby helping in determining consumer trends and consumer behavior.
It will assist firms to expand their customer base and reach the target audience, which in turn will help in fuelling their sales and attracting new clients. The emergence of virtual assistants application in the digital marketing era is the primary reason accentuating the requirement for artificial intelligence in marketing. Virtual systems are highly being adopted for sales purposes owing to the fact that they are designed to enhance productivity and lower tedious time-consuming lead generation activity. Nowadays, several businesses are moving to cloud operations, therefore, supporting vendors to build innovative artificial intelligence-based cloud solutions. However, all of these emerging scenarios will exponentially scale up the growth of global artificial intelligence in marketing market.
The global artificial intelligence in marketing market can be segmented into end-user, technology, application, deployment type, offering, and region.
By end-user, the market can be segmented into enterprise, media & entertainment, consumer goods, retail, BFSI, and others.
By technology, the market can be segmented into computer vision, natural language processing, context-aware computing, machine learning, and others.
By application, the market can be segmented into analytics programs, sales & marketing, automation, content curation, virtual assistant, dynamic pricing, search advertising, social media advertising, and others.
By deployment type, the market can be segmented into on-premise and cloud.
By offering, the market can be segmented into services, software, and hardware.
The global artificial intelligence in marketing market has shown exponential penetration in North America. The surging adoption rate of artificial technology by small-medium enterprises and startups is likely to accentuate the growth of the regional market manifolds in the forthcoming years.
Asia Pacific is expected to be the fastest-growing region in the global artificial intelligence in the marketing market due to the ongoing technological advancements in the region. Also, the growing awareness among people regarding the advantages offered by artificial intelligence is further likely to promulgate the growth of the regional market.
Some of the significant players in the global artificial intelligence in marketing market are Zensed, GumGum, Appier, Narrative Science, Drawbridge, Mariana, Persado, InsideSales, Oracle, Twitter, Oculus360, Albert Technologies, Sentient Technologies, Baidu, Salesforce, Microsoft, Facebook, Alphabet, Amazon, Xilinx, and Samsung Electronics. To cite, Punchh, Inc. in May 2019 announced the launch of digital marketing solutions that can assist organizations by providing customer feedback in their language comprehension engine which will be also beneficial in facilitating real-time analysis to enhance customer relationships and build loyalty.
