According to the report "Artificial Intelligence in Marketing Market by Offering (Hardware, Software, Services), Technology (Machine Learning, Context-Aware Computing, NLP, Computer Vision), Deployment Type, Application, End-User Industry, and Geography - Global Forecast to 2025," the artificial intelligence (AI) in marketing market is anticipated to expand significantly over the next few years.

The market had a 2018 value of USD 6.46 billion, and by 2025, it is expected to have grown by USD 40.09 billion, with a compound annual growth rate (CAGR) of USD 29.79%. The rise of this market is being driven by the rising usage of AI technology along with the expanding demand for individualised and targeted marketing methods.

Based on offers, such as hardware, software, and services, the AI in marketing market is divided into submarkets. Due to its numerous applications and simplicity of integration into current marketing systems, software solutions are predicted to outpace the competition and take the market.

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Machine learning, context-aware computing, natural language processing (NLP), and computer vision are a few of the AI technologies used in marketing. With the help of these technologies, marketers can analyse massive volumes of data, obtain new perspectives, and automate decision-making procedures, creating more successful and efficient marketing campaigns.

Due to a number of important variables, the need for AI-based marketing and sales solutions is significantly increasing. First, there has been a clear movement towards marketing techniques that focus on the needs of the client. Businesses understand how important it is to provide their customers with personalised experiences, and AI helps them to analyse massive volumes of data to acquire insights and adjust their marketing strategies accordingly. AI-based solutions assist companies in comprehending consumer behaviour, preferences, and purchasing trends, enabling more specialised and successful marketing efforts. Second, the adoption of AI-based marketing and sales solutions is being influenced by the surge in demand for virtual assistants. Artificial intelligence-powered virtual assistants, such chatbots and voice assistants, may answer client questions, make tailored recommendations, and even speed up transactions. These virtual assistants promote customer engagement, speed up response times, and allow companies to offer round-the-clock help, which ultimately boosts client happiness and boosts revenue.

Software to hold largest share of AI in marketing market

Due to developments in AI software and associated software development kits, software is anticipated to hold the highest share in the market for AI in marketing. Application programme interfaces (APIs) for language processing, speech recognition, computer vision, and sensor data processing are just a few of the software kinds that AI systems rely on. For the purpose of establishing various applications in the area of sales and marketing, certain software components are necessary.

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Machine learning software platforms and algorithms demand specialised knowledge, which raises the price of these software solutions. Due to the scarcity of expertise and the difficulty of creating machine learning algorithms, AI software platforms and solutions are more expensive.

Market for cloud deployment to grow at higher CAGR

With a higher compound annual growth rate (CAGR), the market for cloud deployment in AI-based marketing and sales solutions is anticipated to experience substantial expansion. Numerous companies have already adopted cloud computing and moved a portion of their operations there. Vendors have started creating and providing cloud-based solutions in response to this trend to meet the escalating demand.

For businesses deploying AI-based marketing and sales solutions, the change to cloud deployment has various benefits. Increased flexibility is one of the main advantages of cloud platforms, which let businesses scale their resources up or down depending on demand. This scalability guarantees that businesses can effectively manage resources and respond to changing demands.

Additionally, cloud deployment gives users more control over AI-based solutions. Using a cloud-based infrastructure, businesses may access and manage their marketing and sales tools at any time and from any location. Businesses are able to make decisions in real time, track performance, and react quickly to market changes because to this remote accessibility.

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North America to hold major share of AI in marketing market

The market for AI in marketing is expected to grow significantly, with North America emerging as the region that has contributed most to the adoption and application of AI in marketing tactics. The market in the region, which includes the United States and Canada, has seen significant investments, and a large number of vendors have emerged to meet the expanding need.

In North America, businesses are using AI to improve customer experiences and boost sales, which has been particularly noticeable in physically located retail outlets. Further fostering the development of AI in marketing in the region are the active research and pilot projects that North American businesses are conducting.

Companies covered in the AI in marketing market report are NVIDIA (US), Intel (US), IBM (US), Micron (US), Samsung Electronics (Korea), Xilinx (US), Amazon (US), Alphabet (US), Facebook (US), Microsoft (US), Salesforce(US), Baidu (China), Sentient Technologies (US), Albert Technologies (Israel), and Oculus360 (US). Some of the other key companies included in the report are Twitter (US), Oracle (US), InsideSales (US), Persado (US), Mariana (US), Drawbridge (US), Narrative Science (US), Appier (US), GumGum (US), and Zensed (Sweden).

News Covered:

https://www.prnewswire.com/news-releases/artificial-intelligence-in-marketing-market-worth-4009-billion-usd-by-2025-673927653.html

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