AI in Marketing Market
AI in Marketing Market Size, Share & Trends Analysis Report by Component (Software, and Services), by Deployment (On-Premises, and Cloud), by Application (Social Media Advertising, Search Engine Marketing, Virtual Assistant, Sales & Marketing Automation, Analytics Platform, and Others), and by End-User (BFSI, Retail, Consumer Goods, Media & Entertainment, IT & Telecommunications, and Others) Forecast Period (2024-2031)
Artificial intelligence (AI) in marketing market is anticipated to grow at a significant CAGR of 15.5% during the forecast period (2024-2031). The market growth is attributed to the growing demand for Al-based marketing and sales solutions, the expanding usage of social media for advertising, and the growing use of customer-centric marketing methods. According to the Artificial Intelligence Index Report 2023, the global AI private investment was $91.9 billion in 2022. During the last decade, AI investment has significantly increased. In 2022, the amount of private investment in AI was 18 times greater than it was in 2013. The US led the global in terms of the total amount of AI private investment. In 2022, the $47.4 billion invested in the US was roughly 3.5 times the amount invested in the next highest country, China ($13.4 billion).
Market Dynamics
Growing Personalization and Higher Customer Expectations
Personalization with AI is about creating fully customized, end-to-end journeys for every single lead and customer, not just about changing content fields or segmenting and targeting audience groups. The application of behavioral triggers in automated flows, content creation, predictive analytics, and enhanced internet connectivity for companies with physical locations. Although it is still a way off, actual one-to-one personalization at this level is growing increasingly conceivable. To increase the engagement of advertisements in a crowded and competitive market, marketing has started utilizing sophisticated AI technologies.
Market Segmentation
- Based on the component, the market is segmented into software and services.
- Based on the deployment, the market is segmented into on-premises and cloud.
- Based on the application, the market is segmented into social media advertising, search engine marketing, virtual assistant, sales & marketing automation, analytics platform, and others (content curation).
- Based on the end-users, the market is segmented into BFSI, retail, consumer goods, media & entertainment, IT & telecommunications, and others (education, healthcare, manufacturing, and automotive).
Software is Projected to Hold the Largest Segment
The software segment is expected to hold the largest share of the market. The primary factors supporting the growth include the growing usage of AI software in a variety of applications, such as smartphone assistants, and speech and picture recognition apps on social networks. AI marketing software is used to generate automated judgments. Furthermore, data that has been gathered, examined, and interpreted in light of market trends is the basis for decisions. Such software AI tools offer to maximize the effectiveness and engagement of email marketing campaigns and initiatives. In March 2024, Copy.ai introduced First Ever GTM AI Platform that unifies data, workflows, and tooling for go-to-market teams to achieve sustainable revenue growth and increased profitability. Copy.ai promises to eliminate GTM Bloat by automating repetitive, mundane tasks for sales, marketing, and operations teams. Such developments are further contributing to the growth of this market segment.
IT & Telecommunications Segment to Hold a Considerable Market Share
The IT & telecommunications segment is expected to hold a considerable share of the market. The factors supporting segment growth include the growing demand for data-driven and customized marketing solutions in the IT & telecom sectors. The sector offers other businesses AI-powered marketing solutions and leverages AI technologies to enhance its marketing initiatives. The market players are also expanding marketing solutions for better customer service, network optimization, and predictive maintenance of telecom networks. For instance, in February 2024, Rakuten and OpenAI collaborated to deliver innovative AI Tools for Telecom. Rakuten AI enhances operators' ability to detect and resolve network issues in near real-time, enabling more responsive and adaptive network operations while improving service reliability and performance for customers.
Regional Outlook
Global AI in marketing market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Growing Demand for AI in Marketing in Asia-Pacific
- The regional growth is attributed to pivotal factors such as e-commerce and online retail sectors' expansion, rising investment in AI, and growing awareness and acceptance of AI-powered marketing solutions among major organizations. The demand for customized and data-driven marketing solutions is driving the rapid expansion of the AI business in the Asia-Pacific. A major industrial vertical for AI in marketing is the retail and e-commerce industries.
- According to the World Economic Forum, in December 2023, in the Asia-Pacific region, generative AI drives significant economic opportunities. In Australia, it is estimated that generative AI could contribute up to AUD 115.0 billion (around $76.0 billion) annually to the economy by 2030, depending on adoption and how workers transition to other tasks. In Japan, it is estimated generative AI could unlock JPY 148.7 trillion (around $1.1 trillion) in productive capacity.
Global AI in Marketing Market Growth by Region 2024-2031
North America Holds Major Market Share
The market growth is attributed to the high adoption of AI in marketing across several industries such as retail, BFSI, healthcare, and automotive. Marketing tech companies in the area are aware of the exciting opportunities AI in marketing presents. Furthermore, AI is being heavily used in the region by both large and small businesses. Market players offering improved digital marketing ROI, customer experiences, and call conversion rates. For instance, in October 2023, Invoca introduced game-changing conversation intelligence AI innovations to transform digital marketing and contact centers. Invoca AI enables digital marketing and contact center teams to collaborate in driving revenue growth. Additionally, Invoca introduced Topic Explorer and GPT Call Analysis as part of Invoca Labs, along with several other AI innovations.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving AI in marketing market include Amazon Web Services, Inc., Google LLC, IBM Corp., Microsoft Corp., and NVIDIA Corp. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market.
Recent Development
- In September 2023, Oracle Corp. added AI to marketing, sales, and service applications to help customers grow revenue. The new AI capabilities in Oracle Fusion Cloud CX automate processes, improve insights, and enhance employee productivity. The latest AI capabilities liberate marketers, sellers, and service agents from time-consuming and manual tasks by unlocking relevant content, recommendations, and insights with automation and conversational interfaces.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the AI in marketing market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Amazon Web Services, Inc.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Google, LLC
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. IBM Corp.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Microsoft Corp.
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. NVIDIA Corp.
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Developments
3.7. Key Strategy Analysis
4. Market Segmentation
4.1. Global AI in Marketing Market by Component
4.1.1. Software
4.1.2. Services
4.2. Global AI in Marketing Market by Deployment
4.2.1. Cloud
4.2.2. On-premises
4.3. Global AI in Marketing Market by Application
4.3.1. Social Media Advertising
4.3.2. Search Engine Marketing
4.3.3. Virtual Assistant
4.3.4. Sales & Marketing Automation
4.3.5. Analytics Platform
4.3.6. Others (Content Curation)
4.4. Global AI in Marketing Market by End-User
4.4.1. BFSI
4.4.2. Retail
4.4.3. Consumer Goods
4.4.4. Media & Entertainment
4.4.5. IT & Telecommunications
4.4.6. Others (Education, Healthcare, Manufacturing and Automotive)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East and Africa
6. Company Profiles
6.1. Acoustic, L.P.
6.2. AdCellerant Inc.
6.3. Adobe Inc.
6.4. AWeber Systems, Inc.
6.5. Brand24 Global, Inc.
6.6. Drift.com, Inc.
6.7. Emarsys
6.8. FeedHive
6.9. Fusion92
6.10. Grammarly Inc.
6.11. Hootsuite Inc.
6.12. Influencity, S.L.
6.13. Jasper AI, Inc.
6.14. Lately, Inc.
6.15. Notion Labs, Inc.
6.16. Oracle Corp.
6.17. Peaberry Software, Inc. (Customer.io)
6.18. Salesforce, Inc.
6.19. Smart AdServer (Equativ)
6.20. Sojern
6.21. VidMob, Inc.
6.22. Wordable, LLC
6.23. Yotpo Ltd.
6.24. Zapier Inc.
1. GLOBAL AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2023-2031 ($ MILLION)
2. GLOBAL AI IN MARKETING SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL AI IN MARKETING SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2023-2031 ($ MILLION)
5. GLOBAL ON-PREMISES AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
6. GLOBAL CLOUD-BASED AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
7. GLOBAL AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
8. GLOBAL AI IN SOCIAL MEDIA ADVERTISING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
9. GLOBAL AI IN SEARCH ENGINE MARKETING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
10. GLOBAL AI IN MARKETING VIRTUAL ASSISTANT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
11. GLOBAL AI IN SALES & MARKETING AUTOMATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
12. GLOBAL AI IN MARKETING ANALYTICS PLATFORM MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
13. GLOBAL AI IN MARKETING FOR OTHER APPLICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
14. GLOBAL AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
15. GLOBAL AI IN MARKETING FOR BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
16. GLOBAL AI IN MARKETING FOR RETAIL MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
17. GLOBAL AI IN MARKETING FOR CONSUMER GOODS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
18. GLOBAL AI IN MARKETING FOR MEDIA & ENTERTAINMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
19. GLOBAL AI IN MARKETING FOR IT & TELECOMMUNICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
20. GLOBAL AI IN MARKETING FOR OTHER END-USERS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
21. GLOBAL AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
22. NORTH AMERICAN AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
23. NORTH AMERICAN AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2023-2031 ($ MILLION)
24. NORTH AMERICAN AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2023-2031 ($ MILLION)
25. NORTH AMERICAN AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
26. NORTH AMERICAN AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY END-USERS, 2023-2031 ($ MILLION)
27. EUROPEAN AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
28. EUROPEAN AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2023-2031 ($ MILLION)
29. EUROPEAN AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2023-2031 ($ MILLION)
30. EUROPEAN AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
31. EUROPEAN AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY END-USERS, 2023-2031 ($ MILLION)
32. ASIA-PACIFIC AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
33. ASIA-PACIFIC AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2023-2031 ($ MILLION)
34. ASIA-PACIFIC AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2023-2031 ($ MILLION)
35. ASIA-PACIFIC AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
36. ASIA-PACIFIC AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY END-USERS, 2023-2031 ($ MILLION)
37. REST OF THE WORLD AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
38. REST OF THE WORLD AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2023-2031 ($ MILLION)
39. REST OF THE WORLD AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2023-2031 ($ MILLION)
40. REST OF THE WORLD AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
41. REST OF THE WORLD AI IN MARKETING MARKET RESEARCH AND ANALYSIS BY END-USERS, 2023-2031 ($ MILLION)
1. GLOBAL AI IN MARKETING MARKET SHARE BY COMPONENT, 2023 VS 2031 (%)
2. GLOBAL AI IN MARKETING SOFTWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
3. GLOBAL AI IN MARKETING SERVICES MARKET SHARE BY REGION, 2023 VS 2031 (%)
4. GLOBAL AI IN MARKETING MARKET SHARE BY DEPLOYMENT, 2023 VS 2031 (%)
5. GLOBAL ON-PREMISES AI IN MARKETING MARKET SHARE BY REGION, 2023 VS 2031 (%)
6. GLOBAL CLOUD-BASED AI IN MARKETING MARKET SHARE BY REGION, 2023 VS 2031 (%)
7. GLOBAL AI IN MARKETING MARKET SHARE BY APPLICATION, 2023 VS 2031 (%)
8. GLOBAL AI IN SOCIAL MEDIA ADVERTISING MARKET SHARE BY REGION, 2023 VS 2031 (%)
9. GLOBAL AI IN SEARCH ENGINE MARKETING MARKET SHARE BY REGION, 2023 VS 2031 (%)
10. GLOBAL AI IN MARKETING VIRTUAL ASSISTANT MARKET SHARE BY REGION, 2023 VS 2031 (%)
11. GLOBAL AI IN SALES & MARKETING AUTOMATION MARKET SHARE BY REGION, 2023 VS 2031 (%)
12. GLOBAL AI IN MARKETING ANALYTICS PLATFORM MARKET SHARE BY REGION, 2023 VS 2031 (%)
13. GLOBAL AI IN MARKETING FOR OTHER APPLICATION MARKET SHARE BY REGION, 2023 VS 2031 (%)
14. GLOBAL AI IN MARKETING MARKET SHARE BY END-USERS, 2023 VS 2031 (%)
15. GLOBAL AI IN MARKETING FOR BFSI MARKET SHARE BY REGION, 2023 VS 2031 (%)
16. GLOBAL AI IN MARKETING FOR RETAIL MARKET SHARE BY REGION, 2023 VS 2031 (%)
17. GLOBAL AI IN MARKETING FOR CONSUMER GOODS MARKET SHARE BY REGION, 2023 VS 2031 (%)
18. GLOBAL AI IN MARKETING FOR MEDIA & ENTERTAINMENT MARKET SHARE BY REGION, 2023 VS 2031 (%)
19. GLOBAL AI IN MARKETING FOR IT & TELECOMMUNICATIONS MARKET SHARE BY REGION, 2023 VS 2031 (%)
20. GLOBAL AI IN MARKETING FOR OTHERS END-USER MARKET SHARE BY REGION, 2023 VS 2031 (%)
21. GLOBAL AI IN MARKETING MARKET SHARE BY REGION, 2023 VS 2031 (%)
22. US AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
23. CANADA AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
24. UK AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
25. FRANCE AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
26. GERMANY AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
27. ITALY AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
28. SPAIN AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
29. REST OF EUROPE AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
30. INDIA AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
31. CHINA AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
32. JAPAN AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
33. SOUTH KOREA AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
34. REST OF ASIA-PACIFIC AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
35. REST OF THE WORLD AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
36. LATIN AMERICA AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
37. MIDDLE EAST AND AFRICA AI IN MARKETING MARKET SIZE, 2023-2031 ($ MILLION)
