"Increasing Adoption of AI as a Marketing Tool is expected to spur Market Demand Worldwide"
The global AI in social media market is poised to reach US$ 33.30 Bn by 2027, expanding at a CAGR of 25.7% during the forecast period from 2019 to 2027. Today social media is not only a place for the human interaction, but has become a marketing tool. Marketers and organizations worldwide are leveraging the power of social media to thrive their businesses in terms of efficiency and productivity. In wake of the same, they are empowering facial and image recognition, chatbots, and influencer marketing schemes to increase visibility of their products or services on social websites. For instance, in 2018, few big companies such as Mercedes Benz, Microsoft Corporation, SAP SE, Loeffler Randall Inc., and Fiji Water (The Wonderful Company) among others were running influencer-marketing campaigns. These campaigns were aimed at boosting promotional strategies and improving their returns on investment. Furthermore, increasing number of users on social media at an alarming rate is assisting market growth. By 2019, the number of total social network users is projected to hit 2.77 Billion from 2.46 Billion in the year 2017. This, in turn is expected to increase the data traffic on social media and help AI technology vendors to analyze more social media content and offer more relevant insights on on-going market trends. Therefore, increasing number of social network users is poised to uplift the market demand in the near future.
Market Synopsis
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"Natural Language Processing (NLP) Segment is expected to witness Highest CAGR over the Forecast Period"
Natural Language Processing (NLP) is likely to offer sound business opportunities in the marketing segment in the coming years. NLP helps businesses make business driven decisions by analyzing the content floating on social media platforms and consequently converting it into in-depth insights that help them understand the on-going market trends. For instance, Facebook uses a NLP tool named ‘DeepText’ that helps in analyzing the words shared in the posts by the users. Similarly, other social media platforms are also subsequently integrating NLP tool for the content creation and optimization. In addition, growing investment in the NLP startups is another prime factor contributing to the growth of the segment. For instance, in 2018, Facebook announced to acquire a UK-based AI startup, Bloomsbury AI, to leverage its NLP expertise in detecting inappropriate contents and fake news.
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"Retail Segment is expected to Exhibit Significant Growth in the Coming Years"
Retail industry is anticipated to witness significant growth over the forecast period owing to shift in marketing trend from conventional TV ads to AI driven approach for personalized product recommendation. Data-driven approach and image recognition helps e-commerce and retail sectors to market appropriate product to their target customers. This approach boosts their performance and reduces their effort that is otherwise required in other traditional marketing approaches. Leading retailers like Walmart has its presence on Facebook, Instagram, Twitter, Linkedin, Pinterest, YouTube, and other social media platforms powered by AI technology to track performances and fan followings. In addition to this, using the power of AI technology on social media platform, Walmart analyzes the ups and downs in the market and its competitor’s actions.
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"Asia Pacific witnesses Highest Growth over the Forecast Period"
Asia Pacific is expected to register highest growth over the forecast period. The anticipated growth will be driven by the perpetual rise in AI spending. As per the International Data Corporation (IDC), Asia Pacific accounted for around 80% rise in the AI spending over the last year, primarily driven by the retail industry and other businesses in China. In addition, increasing penetration of social media in Asia Pacific is signaling positive sign to the marketers to integrate AI in social media for brand and product promotion. In 2018, Asia Pacific registered rise of 12% in active social media users as compared to previous year. Furthermore, China and India are currently most attractive business destinations for the global AI in social media market owing to large number of active social media users along with rapid industrialization in the countries.
Key Players & Competitive Landscape:
Some of the prominent players profiled in the global AI in social media market report include Google Inc., Facebook Inc., Amazon Web Services (AWS) Inc., Adobe Inc., IBM Corporation, Baidu Inc., Twitter, Salesforce Inc., Snap Inc., Sprinklr Inc., Unmetric Inc., and ISentium LLC among others.
Historical & Forecast Period
This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment is calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The research study AI in social media market offers market size and forecasts based on market dynamics and predominant trends shaping the industry. The report provides all round view of the global AI in social media market based on technology, component, application, end users, and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Technology Segment (2017–2027; US$ Bn)
• Machine Learning and Deep Learning
• Natural Language Processing (NLP)
|
|
Component Segment (2017–2027; US$ Bn)
• Solutions
o Software Tools
o Platform
• Services
o Support & Maintenance
o System Integration
o Training
|
|
Application Segment (2017–2027; US$ Bn)
• Sales & Marketing
• Customer Experience Management
• Predictive Risk Assessment
|
|
End Users Segment (2017–2027; US$ Bn)
• Retail & e-Commerce
• BFSI
• Media & Advertising
• Education
• Public Utilities
• Others (Government & Defense, Manufacturing, etc.)
|
|
Geography Segment (2017–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
Key questions answered in this report
- What was the global AI in social media market size in 2017 & 2018?
- What is estimated forecast and market projections up to 2027?
- Which is largest regional AI in social media market?
- Which is the most preferred technology used for AI in social media?
- Which are the predominant trends shaping the global AI in social media market?
- Which is the most promising, attractive, and less-explored application segment in the global AI in social media market?
- Who are the leading vendors in the global AI in social media market?
- What are the premiere strategies adopted by the leading manufacturers in the global AI in social media market?
