Europe Artificial Intelligence in Marketing Market is expected to reach US$ 27,045.20 million by 2028

Social Media Advertising Segment to Dominate Europe Artificial Intelligence in Marketing Market during 2021–2028.

  According to The Insight Partners market research study on “Europe Artificial Intelligence in Marketing Market to 2028 – COVID-19 Impact and Analysis and Forecast by: Offering, Application, and End- use Industry,” is expected to reach US$ 27,045.20 million by 2028 from US$ 4,039.26 million in 2021. The market is estimated to grow at a CAGR of 31.2% from 2021 to 2028. The report provides trends prevailing in the Europe artificial intelligence in marketing market along with the drivers and restraints pertaining to the market growth. Aggravating use of social media for advertising is the major factor driving the growth of the Europe artificial intelligence in marketing market. However, issues associated with the restricted number of artificial intelligence (AI) experts hinder the growth of Europe artificial intelligence in marketing market.

The Europe artificial intelligence in marketing market is segmented into offering, application, end-use industry, and country. Based on offering, the market is segmented into solution and services. The solution segment dominated the market in the year 2020 and services segment is expected to be the fastest growing during forecast period. Based on application, the market is segmented into social media advertising, search advertising, dynamic pricing, virtual assistant, content curation, sales & marketing automation, analytics platform, and others. The social media advertising segment dominated the market in year 2020 and virtual assistant segment is expected to be the fastest growing during the forecast period. Based on end- use industry, the market is segmented into BFSI, retail, consumer goods, media and entertainment, and others. The BFSI segment dominated the market in year 2020 and retail segment is expected to be the fastest growing during the forecast period.

Due to the COVID-19 outbreak, Russia, UK, France, Italy, Spain, and Germany are some of the worst affected member states in the European region. Businesses in the region face severe economic difficulties as they had to suspend their operations or substantially reduce their activities. Due to business lockdowns, travel bans, and supply chain disruptions, the region experienced an economic slowdown in 2020 and, most likely, in 2021. According to Worldometer till 20th April 2021 there were 3,164,447, 4,390,783, 5,296,222, cases have been registered in Germany, UK, and France. The member states of Europe, such as Italy, Spain, and Germany, have implemented drastic measures and travel restrictions to limit the spread of coronavirus among its citizens. Whereas software as a service is rising the demand of artificial intelligence in marketing during pandemic.

Accenture; Adobe; Amazon Web Services; Bidalgo; CognitiveScale; IBM Corporation; Microsoft Corporation; Oracle Corporation; Salesforce.com, inc.; SAP SE; SAS Institute Inc.; and Xilinx, Inc.  are among the leading companies in the Europe artificial intelligence in marketing market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Xilinx, Inc. has launched new artificial intelligence-based marketing solutions, Xilinx Pro AV, and broadcast markets. Newly Artificial Intelligence based solutions will allow marketers to increase innovation, differentiate themselves, and accelerate time-to-market.

The report segments the Europe Artificial Intelligence in Marketing market as follows:

 Europe Artificial Intelligence in Marketing Market – By Offering

• Solution
• Services

Europe Artificial Intelligence in Marketing Market – By Application

• Social Media Advertising
• Search Advertising
• Dynamic Pricing
• Virtual Assistant
• Content Curation
• Sales & Marketing Automation
• Analytics Platform
• Others

Europe Artificial Intelligence in Marketing Market – By End-Use Industry

• BFSI
• Retail
• Consumer Goods
• Media and Entertainment
• Others

Europe Artificial Intelligence in Marketing Market – By Country

• UK
• France
• Germany
• Italy
• Russia
• Rest of Europe