Artificial Intelligence In Marketing Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Offering (Hardware, Software, and Services), By Deployment Type (Cloud, and On-premise), By Technology (Machine Learning, Adaptive Learning, Natural Language Processing, Natural Language Generation, Speech Recognition, Advanced Analytics, and Computer Vision), By Application (Sales Forecasting, Virtual Assistance, Content Curation, Predictive Analytics, Dynamic Pricing, Marketing Automation, and Others), By End-user (BFSI, Retail & E-Commerce, Government, IT & Telecom, Healthcare, and Others), and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

The Global Artificial Intelligence in Marketing Market is expected to expand at a CAGR of 27.2% between 2023 and 2030. Artificial intelligence in marketing is refers to the integration of AI methods and tools such as data models, algorithms, and machine learning techniques into various marketing processes and strategies. This cutting-edge technology enables businesses to produce customer insights that marketers can use to optimize spending, customize content, and personalize the customer journey. This enables marketers to leverage data-driven insights, automate repetitive tasks, and deliver personalized experiences to their target audience, significantly leading to enhanced customer engagement, and improved efficiency. Many industries are now using AI to handle narrow tasks, such as digital ad placement, email marketing, customer service, and many more. AI in marketing can be categorized according to their implementation whether it is stand-alone applications or   integrated applications. Based on technology, the market is classified into machine learning, adaptive learning, natural language processing, natural language generation, speech recognition, advanced analytics, and computer vision. The global AI in marketing market serves various industries including BFSI, retail & e-commerce, government, it & telecom, healthcare, among others.

Artificial Intelligence In Marketing Market Major Driving Forces

Rising Adoption of Virtual Assistants: The artificial intelligence in marketing market is being driven by the increasing adoption of virtual assistants. Virtual assistants are independent dedicated network who provides administrative services on demand while working.

The Automation of Marketing: AI can assist businesses in automating their digital marketing while maintaining their ability to target specific audience. AI automates repetitive tasks such as email marketing, social media scheduling, and advertising.  

Personalization: AI allows marketers to create personalized experiences for customers by analyzing customer journey based on data and behavior. Personalized marketing strategy result in higher customer engagement and satisfaction.

Growth of Digitalization and Internet Penetration: The another significant factors driving the market growth are growth of digitalization and internet penetration. Owing to increasing digitalization, internet penetration has surged across the countries. The growing access to high-speed internet across the globe has led to the availability to larger user data.  

Artificial Intelligence In Marketing Market Key Opportunities

Utilization in the Healthcare Industry: In various fields of medicine, artificial intelligence can be beneficial to the marketing of the healthcare business. By boosting on-site engagement and conversion, chatbots, and virtual assistants may help healthcare marketers improve the patient overall experience.  

Growing Demand for Customer-driven Marketing: The increasing need for customer-driven marketing and advertisement is expected to create opportunities for the market. Customers are most valuable asset to any organization, regardless of the type of company. Companies are focusing on developing long-term relationship with their customers to survive in a competitive market.  

Emerging Technologies: Integration of AI with other emerging technologies such as augmented reality and virtual reality is anticipated to provide profitable opportunities for interactive marketing experiences. Moreover, integration with IoT and wearable devices to analyze data from connected devices and personalize marketing based on real-time customer online behavior.

Artificial Intelligence In Marketing Market Key Trends

·         Hyper segmentation is a major trend in AI marketing, brands can analyze those consumers with high latent and tendency to purchase

·         The increasing adoption of customer-centric marketing strategies, as customers are valuable assets to any organization

·         The widespread adoption of AI-powered chatbots for real-time customer interactions is one of the key trend in the market

·         Technological advancement is seen as an emerging trend in artificial intelligence in marketing market

·         The growing digitalization and internet penetration is one of the key market trend fueling market growth

·         The rising use of AI in social media is booming, where customers can leave Facebook and Instagram ads up to AI-powered marketing platforms

·         Growing demand for predictive analysis to forecast customer behavior is another significant trend drive the growth of the market

Market Competition Landscape

The global artificial intelligence in marketing market is characterized by high degree of competition among a large number of manufacturers. Key players in the artificial intelligence in marketing market engage in strategies aimed at gaining a competitive edge. These strategies include product innovation, design differentiation, and the incorporation of emerging technologies to meet evolving consumer preferences. Established brands leverage their reputation for quality and reliability to maintain market share, while newer entrants focus on disruptive innovations and unique selling propositions.

Key players in the global artificial intelligence in marketing market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         Google LLC

·         Microsoft Corporation

·         Facebook Inc.

·         Intel Corporation

·         Oracle Corporation

·         Amazon Web Services

·         Salesforce, Inc.

·         IBM Corporation

·         General Electric (GE) Company

·         NVIDIA Corporation

·         Siemens AG

·         Sentient Technologies

·         SAP SE

·         HubSpot, Inc.