Reports And Data
Artificial Intelligence in Social Media Market Size – USD 797.0 Million in 2019, Market Growth – CAGR of 24.7%, Trends – Extensive adoption of smartphones.
NEW YORK, NY, UNITED STATES, August 15, 2022 /EINPresswire.com/ — Increasing focus on Customer Relationship Management and growing usage of social media for advertising, along with customer-centric marketing strategies offering virtual assistance, is driving global Artificial Intelligence (AI) in the Social Media Market.
The Global Artificial intelligence (AI) In Social Media Market size is estimated to reach USD 4.26 Billion from USD 797 Million in 2019, exhibiting a CAGR of 24.7% through 2027.
The rapid evolution of social media platforms with technology such as mobile accounting, cloud computing, OCR technology, and others has immensely changed human communication and interaction. By leveraging Artificial intelligence, vendors are able to find leads through social media. Estimates suggest that fully automated AI systems will soon take over all the areas of marketing. The rise in the number of social media users has grown exponentially over the past few years, and with their active online behavior along with the integration of AI is taking the social media experience to new levels each passing year. AI in social networks is one of the most effective ways to sort through large collections of user’s information. This phenomenon is also known as deep learning, which means a high-level knowledge formed by establishing and analyzing patterns in large data sets.
Increasing investments by major tech companies in tools to integrate AI in marketing strategies due to the high significance of AI-based systems will boost Artificial intelligence (AI) In Social Media Market share. Moreover, the experiments with artificial intelligence by the small & medium scale enterprises and heavy investments by tech giants in AI to enhance their products and services will have a positive impact on market growth through 2027. For instance, In June 2019, Twitter acquired Fabula AI, a London-based start-up, to strengthen its machine learning expertise. Fabula AI boasts of a world-class team of ML researchers who employ graph deep learning to detect network manipulation.
North America is expected to be a major regional ground for Artificial intelligence (AI) In the Social Media market over the forecast period due to the large-scale adoption of advanced technology along with a high focus on technology innovation. However, Asia Pacific is forecast to witness the maximum adoption of artificial intelligence in social media. This can be attributed to the presence of a large customer base and a large number of SMEs in the region.
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Further key findings from the report suggest:
• On the basis of technology outlook, the machine learning segment accounted for 63% of the Global Artificial intelligence (AI) In Social Media market share in 2018and is anticipated to witness major growth through 2027. ML comes with a wide range of applications across several industries, such as healthcare, banking, and financial sector, retail, social media, publishing, and others. It is extensively used to analyze the relevance of advertisements and contents based on the preferences of users. The emergence of marketing automation and text mining and with the help of AI and machine learning and will boost the demand for AI in social media.
• Based on component, the services segment is estimated to exhibit a CAGR of 24.5% through 2027 on account of the growing usage of Artificial Intelligence services in social media by marketers to overcome several difficulties in their operational processes.
• On the basis of organization size, the small and medium-sized organization segment is anticipated to grow at 26.6% through the forecast period on account of extensive usage of AI and ML solutions by these firms to promote their products and services on social media.
• In terms of application, the predictive risk assessment segment is forecast to grow at a CAGR of 26.3% through the forecast period. The robust growth can be attributed to the ability of artificial intelligence solutions to identify potential frauds or risks by analyzing the data pertaining to consumers’ behavior.
• On the basis of industry vertical, the media & advertising industry accounted for a significant chunk of the Artificial intelligence (AI) In Social Media Market share in 2019 and is set to grow exponentially due to mounting demand for social media marketing across several verticals.
• In the regional landscape, Asia Pacific is estimated to have the highest CAGR of 25% through 2027 due to positive initiatives by regional governments promoting the extensive application of artificial intelligence (AI) in social media in various end-use industries.
• Key participants in the Artificial intelligence (AI) In Social Media Market share are Facebook, IBM, Google, AWS, Adobe Systems, Baidu, Twitter, Salesforce, Snap, Clarabridge, Sprinklr, ISentium, Converseon, Unmetric, Cluep, Netbase, Synthesio, Hootsuite, Spredfast, Crimson Heaxagon, Vidora, Meltwater, Talkwalker, and Sprout Social, among others. These industry players are adopting several strategies such as acquisitions, mergers, collaborations, new product development, and capacity expansion, thereby supporting the overall growth of the market. Moreover, rising investments by the key industry players for the R&D activities will further bolster market growth over the analysis period.
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For the purpose of this report, Reports and Data has segmented into the global artificial intelligence (AI) in social media market on the basis of technology, component, organization size, applications, industry vertical, and region:
Technology Outlook (Revenue, USD Million; 2017-2027)
• Machine Learning and Deep Learning
• Natural Language Processing
Component Outlook (Revenue, USD Million; 2017-2027)
o Support and Maintenance
o System Integration
Organization Size Outlook (Revenue, USD Million; 2017-2027)
• Small and Medium-Sized Enterprises
• Large Enterprises
Applications Outlook (Revenue, USD Million; 2017-2027)
Sales and Marketing
Customer Experience Management
Predictive Risk Assessment
o Competitive Intelligence
o Fraud Detection and Prevention
o Public Safety and Law Enforcement
Industry Vertical Outlook (Revenue, USD Million; 2017-2027)
• Retail and E-Commerce
• Banking, Financial Services, and Insurance
• Media and Advertising
• Public Utilities
Regional Outlook (Revenue, USD Million; 2017-2027)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
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