Artificial Intelligence in Marketing Market Value and Trends Analysis 2028

Artificial Intelligence in Marketing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering (Solutions and Services), Application (Social Media Advertising, Search Advertising, Dynamic Pricing, Virtual Assistant, Content Curation, Sales & Marketing Automation, Analytics Platform, and Others), End-Use Industry (BFSI, Retail, Consumer Goods, Media and Entertainment, and Others), and Geography

Publication Month : Apr 2021

  • Report Code : TIPRE00002954
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 214
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The artificial intelligence in marketing 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 platforms for advertising are among the factors boosting the artificial intelligence in marketing market growth. However, scarcity of personnel well-versed with AI knowledge hinders the market growth. Further, surge in the adoption of cloud-based applications and services creates notable opportunities for the artificial intelligence in marketing market players.

Lucrative Regional Markets for Artificial Intelligence in Marketing

Lucrative Regional Markets for Artificial Intelligence in Marketing
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Market Insights


Rising Adoption of Customer-Centric Marketing Strategies

Many companies, regardless of the industry where they belong, are concentrating on developing long-term, mutually beneficial relationships with their customers, to survive in the rapidly growing competition in the global marketplace. In recent years, customer engagement strategies and actions have shifted from being product-driven to being more customer-centric Customer-centricity enables companies to better understand their customers and predict, as well as address their needs, at any time. It is proved that companies that have successfully shifted to customer-centric engagement, enjoy a major competitive advantage and growth in sales and revenue. According to the Harvard Business Review, more than a third of Fortune 500 companies have reformed around the customer, using preferences, segments, and journeys as the guiding concepts. Nonetheless, many of the high-ranking brands in recent years have successfully adopted customer-centricity. In the US, popular customer-centric companies include American Express, Tumi, and USAA. Traditional models are being discontinued by airlines such as Emirates, Air New Zealand, and Singapore Airlines to switch to new advertising formats. Customer-centricity is a business strategy that emphasizes on providing an excellent customer experience both before and after the purchase to create opportunities of order repetition, along with increasing customer loyalty and fueling business development. For instance, Zappos and Amazon are two outstanding examples of customer-centric companies that have spent decades developing a culture that revolves around customers and their preferences.

Offering-Based Insights

Based on offering, the artificial intelligence in marketing market is segmented into solutions and services. In 2020, the solutions segment held the larger market share, and it is further projected to account for a larger share during 2021–2028. However, the services segment is expected to register a higher CAGR in the market during the forecast period.

Artificial Intelligence in Marketing Market, by Offering – 2020 and 2028

Artificial Intelligence in Marketing Market, by Offering – 2020 and 2028
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Application-Based Insights

Based on application, the artificial intelligence in marketing market is segmented into search advertising, social media advertising, dynamic pricing, virtual assistant, content curation, sales and marketing automation, and others. In 2020, the social media advertising segment secured a dominant market share and is expected continue the same trend during the forecast period. However, the virtual assistance segment is anticipated to register the highest CAGR in the artificial intelligence in marketing market during 2021–2028.

End Use Industry-Based Insights

Based on end-use industry, the artificial intelligence in marketing market is segmented into BFSI, retail, consumer goods, media and entertainment, and others. Artificial intelligence is not a new concept for professionals engaged in digital marketing campaign planning in various industries. AI-enhanced PPC advertising, personalized website experience, AI-powered content creation, and content creation chatbots are among the commonly used features by various small and large enterprises in different end-user industries.

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Artificial Intelligence in Market: Strategic Insights

artificial-intelligence-in-marketing-market
Market Size Value inUS$ 12,044.46 Million in 2020
Market Size Value byUS$ 107,535.57 Million by 2028
Growth rateCAGR of 31.6% from 2021-2028
Forecast Period2021-2028
Base Year2021
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The key artificial intelligence in marketing market players—such as IBM, Amazon Web Services, Salesforce, Adobe, and Accenture—have been adopting several organic and inorganic strategies to enhance their revenue and market standings. For instance, in January 2021, Appier launched ARTIFICIAL INTELLIGENCEXPERT, an ARTIFICIAL INTELLIGENCE-powered app-based advertising assistant that helps marketers to easily scale their performance of sales campaigns through campArtificial Intelligencegns. Through its apps, ARTIFICIAL INTELLIGENCEXPERT enables the automation of budget allocation across major advertising platforms such as Facebook, Google, and Apple Search Ads (ASA) as well as assists in making better decisions with ARTIFICIAL INTELLIGENCE-based suggestions.

Artificial Intelligence in Marketing Market – by Offering

  • Solutions
  • Services

Artificial Intelligence in Marketing Market – by Application

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

Artificial Intelligence in Marketing Market – by End User

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

Artificial Intelligence in Marketing Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Taiwan
    • Rest of Asia Pacific
  • Middle East and Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East &Africa
  • South and Central America (SCAM)

    • Brazil
    • Argentina
    • Rest of South and Central America

Company Profiles

  • Affectiva
  • Appier Inc.
  • Bidalgo
  • Novantas (Amplero), Inc.
  • CognitiveScale
  • SAS Institute Inc.
  • SAP SE
  • Salesforce.com, inc.
  • Oracle Corporation
  • IBM Corporation
  • Amazon Web Services
  • Adobe
  • Accenture
  • Microsoft Corporation
  • Xilinx, Inc.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Offering , Application , End-Use Industry , and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, Taiwan, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is the regional market scenario of artificial intelligence in marketing?

The artificial intelligence in marketing market is segmented into five major regions: North America, Europe, APAC, MEA, and SAM. Among these regions, North America is expected to dominate the global artificial intelligence in marketing market during the forecast period owing to the well-established economies in the region that include US and Canada. These countries are known for their significant dedicated expenditure toward research and development as well as artificial intelligence-based platforms incorporating technologies that include machine learning, natural language processing (NLP), virtual assistance, and others. Furthermore, the heavy adoption of social media platform in almost all the end-use industries. The US is a developed country in terms of modern technology, the standard of living, infrastructure, and many others.

What is AI in marketing?

Artificial intelligence in marketing helps the marketers to leverage customer's data to draw important insights like buying behavior of the customer. Artificial Intelligence in marketing makes use of various concepts like machine learning to know the pattern of the consumer which helps the companies to plan their next move accordingly. Artificial Intelligence in marketing is used in various applications such as dynamic pricing, social media advertising, and sales & marketing automation among others.

What are the driving factors for the artificial intelligence in marketing market across the globe?

Rising adoption of customer-centric marketing strategies and increasing use of social media for advertising are among the factors expected to drive the artificial intelligence in marketing market worldwide. However, a limited number of AI experts may restrain the future growth of the market. Despite these limitations, the growth in adoption of cloud-based applications and services creates a huge opportunity for vendors operating in artificial intelligence in marketing market.

The List of Companies - Artificial Intelligence in Marketing Market

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

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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