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
Artificial intelligence (AI) in marketing market to grow at a CAGR of 29.79% between 2018 and 2025
The AI in marketing market is expected to be valued at USD 6.46 billion in 2018 and is likely to reach USD 40.09 billion by 2025, at a CAGR of 29.79% during the forecast period. Factors such as the growing adoption of customer-centric marketing strategies, increased use of social media for advertising, and increase in demand for virtual assistants are contributing to the growth of the AI in marketing market. For developing, managing, and implementing AI systems, companies require a workforce with certain skill sets. The limited number of AI experts is a major restraint for this market.
Search advertising to hold largest share of AI in marketing market in 2018
Search advertising applications are more sophisticated and deliver near-exact results to the search query. Improved algorithms, which now go beyond keyword matching, are fundamentally driving the growth of search advertising in small and medium-sized enterprises. Moreover, improved software to detect misspellings is further supplementing the growth of AI in search advertising. AI-enabled voice search is also among the fastest-growing applications. Improvements in natural language processing techniques are driving the growth of voice search.
Market for machine learning to grow at highest CAGR between 2018 and 2025
Machine learning holds a major share of the AI in marketing market. This is attributed to enormous availability of data, also called big data, and increasing adoption of ML by enterprises and federal agencies to gain useful insights. Machine learning’s ability to collect and handle big data, along with its increased ability to perform previously impossible calculations, is fueling the growth of the market for machine learning.
AI in marketing market in APAC to grow at highest CAGR between 2018 and 2025
China, Japan, South Korea, and India are among the major countries driving the AI in marketing market in APAC. The increasing adoption of deep learning and NLP technologies in finance, agriculture, marketing, and law applications is also driving the market in this region. Growing e-commerce, online streaming, and increasing internet penetration have resulted in the growth of marketing industries. Marketers are now looking for more sophisticated and state-of-the-art marketing solutions for large and ever-growing consumer base. This has resulted in the adoption of AI-enabled solutions for marketing in this region.
North America is expected to be a major contributor to the growth of the AI in marketing market in 2018. The top countries contributing to the AI in marketing market in North America include the US and Canada. The reason for the dominance of these countries is their well-established economies, which allows investments in new technologies to add more value to AI-based solutions.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across regions. The breakup of the profiles of primary participants has been given below.
Research Coverage
The AI in marketing market has been segmented on the basis of offerings, deployment types, applications, technologies, end-user industries, and regions. The market has been segmented on the basis of offerings into hardware, software, and services. The market, based on deployment types, has been segmented into cloud and on premises. On the basis of technologies, the market has been segmented into machine learning, context-aware computing, natural language processing, and computer vision. The market has been segmented on the basis of applications into social media advertising, search advertising, dynamic pricing, virtual assistant, content curation, sales & marketing automation, and analytics platform, among others. The market has been segmented on the basis of end-user industries into BFSI, retail, consumer goods, media & entertainment, enterprise, and others (healthcare, manufacturing, education, and automotive).
Reasons to Buy the Report
1. This report segments the AI in marketing market comprehensively and provides the closest approximation of the size of the overall market and its subsegments for various applications across regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities pertaining to the market.
The AI in marketing market is expected to be valued at USD 6.46 billion in 2018 and is likely to reach USD 40.09 billion by 2025, at a CAGR of 29.79% during the forecast period. Factors such as the growing adoption of customer-centric marketing strategies, increased use of social media for advertising, and increase in demand for virtual assistants are contributing to the growth of the AI in marketing market. For developing, managing, and implementing AI systems, companies require a workforce with certain skill sets. The limited number of AI experts is a major restraint for this market.
Search advertising to hold largest share of AI in marketing market in 2018
Search advertising applications are more sophisticated and deliver near-exact results to the search query. Improved algorithms, which now go beyond keyword matching, are fundamentally driving the growth of search advertising in small and medium-sized enterprises. Moreover, improved software to detect misspellings is further supplementing the growth of AI in search advertising. AI-enabled voice search is also among the fastest-growing applications. Improvements in natural language processing techniques are driving the growth of voice search.
Market for machine learning to grow at highest CAGR between 2018 and 2025
Machine learning holds a major share of the AI in marketing market. This is attributed to enormous availability of data, also called big data, and increasing adoption of ML by enterprises and federal agencies to gain useful insights. Machine learning’s ability to collect and handle big data, along with its increased ability to perform previously impossible calculations, is fueling the growth of the market for machine learning.
AI in marketing market in APAC to grow at highest CAGR between 2018 and 2025
China, Japan, South Korea, and India are among the major countries driving the AI in marketing market in APAC. The increasing adoption of deep learning and NLP technologies in finance, agriculture, marketing, and law applications is also driving the market in this region. Growing e-commerce, online streaming, and increasing internet penetration have resulted in the growth of marketing industries. Marketers are now looking for more sophisticated and state-of-the-art marketing solutions for large and ever-growing consumer base. This has resulted in the adoption of AI-enabled solutions for marketing in this region.
North America is expected to be a major contributor to the growth of the AI in marketing market in 2018. The top countries contributing to the AI in marketing market in North America include the US and Canada. The reason for the dominance of these countries is their well-established economies, which allows investments in new technologies to add more value to AI-based solutions.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across regions. The breakup of the profiles of primary participants has been given below.
- By Company Type: Tier 1—25%, Tier 2—30%, and Tier 3—45%
- By Designation: C-Level Executives—45%, Managers—35%, and Others (Sales, Marketing, and Product Managers)—20%
- By Region: North America—50%, Europe—30%, APAC—10%, and RoW—10%
Research Coverage
The AI in marketing market has been segmented on the basis of offerings, deployment types, applications, technologies, end-user industries, and regions. The market has been segmented on the basis of offerings into hardware, software, and services. The market, based on deployment types, has been segmented into cloud and on premises. On the basis of technologies, the market has been segmented into machine learning, context-aware computing, natural language processing, and computer vision. The market has been segmented on the basis of applications into social media advertising, search advertising, dynamic pricing, virtual assistant, content curation, sales & marketing automation, and analytics platform, among others. The market has been segmented on the basis of end-user industries into BFSI, retail, consumer goods, media & entertainment, enterprise, and others (healthcare, manufacturing, education, and automotive).
Reasons to Buy the Report
1. This report segments the AI in marketing market comprehensively and provides the closest approximation of the size of the overall market and its subsegments for various applications across regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities pertaining to the market.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 YEARS CONSIDERED FOR THIS STUDY
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key industry insights
2.1.2.3 Breakdown of primaries
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.3 MARKET BREAKDOWN & DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES IN AI IN MARKETING MARKET
4.2 AI IN MARKETING MARKET, BY OFFERING
4.3 AI IN MARKETING MARKET, BY DEPLOYMENT TYPE
4.4 AI IN MARKETING MARKET, BY TECHNOLOGY
4.5 AI IN MARKETING MARKET, BY APPLICATION AND REGION
4.6 AI IN MARKETING MARKET, BY END-USER INDUSTRY
4.7 AI IN MARKETING MARKET, BY COUNTRY
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing adoption of customer-centric marketing strategies
5.2.1.2 Increased use of social media for advertising
5.2.1.3 Increase in demand for virtual assistants
5.2.2 RESTRAINTS
5.2.2.1 Limited number of AI experts
5.2.3 OPPORTUNITIES
5.2.3.1 Growth in adoption of cloud-based applications and services
5.2.3.2 Evolution of marketing analytics
5.2.4 CHALLENGES
5.2.4.1 Concerns regarding data privacy
5.2.4.2 Unreliability of AI algorithms
5.3 USE CASES
5.3.1 REDBALLOON USED ALBERT TECHNOLOGIES PLATFORM TO REDUCE CUSTOMER ACQUISITION COST
5.3.2 LINCOLN MOTOR COMPANY USED OCULUS360 AI-DRIVEN CONSUMER INSIGHTS PLATFORM
5.3.3 ABUV MEDIA USED SENTIENT ASCEND FOR WIDGET CREATION
5.3.4 GARMIN USED GUMGUM AI TECHNOLOGY TO INCREASE CUSTOMER AWARENESS OF VIVOSMART 3 SMART ACTIVITY TRACKER
5.3.5 CARREFOUR USED APPIER AI TO GROW ONLINE STORE PURCHASES
6 ARTIFICIAL INTELLIGENCE IN MARKETING MARKET, BY OFFERING
6.1 INTRODUCTION
6.2 SOFTWARE
6.2.1 AI SOLUTIONS
6.2.2 AI PLATFORMS
6.3 HARDWARE
6.3.1 PROCESSOR
6.3.2 STORAGE
6.3.3 NETWORK
6.4 SERVICES
6.4.1 DEPLOYMENT & INTEGRATION
6.4.2 SUPPORT & MAINTENANCE
7 ARTIFICIAL INTELLIGENCE IN MARKETING MARKET, BY DEPLOYMENT TYPE
7.1 INTRODUCTION
7.2 CLOUD
7.3 ON PREMISES
8 ARTIFICIAL INTELLIGENCE IN MARKETING MARKET, BY TECHNOLOGY
8.1 INTRODUCTION
8.2 MACHINE LEARNING
8.2.1 DEEP LEARNING
8.2.2 SUPERVISED LEARNING
8.2.3 UNSUPERVISED LEARNING
8.2.4 REINFORCEMENT LEARNING
8.2.5 SEMI-SUPERVISED LEARNING
8.3 NATURAL LANGUAGE PROCESSING (NLP)
8.4 CONTEXT-AWARE COMPUTING
8.5 COMPUTER VISION
9 ARTIFICIAL INTELLIGENCE IN MARKETING MARKET, BY APPLICATION
9.1 INTRODUCTION
9.2 SEARCH ADVERTISING
9.3 SOCIAL MEDIA ADVERTISING
9.4 DYNAMIC PRICING
9.5 VIRTUAL ASSISTANT
9.6 CONTENT CURATION
9.7 SALES & MARKETING AUTOMATION
9.8 ANALYTICS PLATFORM
9.9 OTHERS
10 ARTIFICIAL INTELLIGENCE IN MARKETING MARKET, BY END-USER INDUSTRY
10.1 INTRODUCTION
10.2 ENTERPRISE
10.3 BFSI
10.4 RETAIL
10.5 CONSUMER GOODS
10.6 MEDIA & ADVERTISING
10.7 OTHERS
11 GEOGRAPHIC ANALYSIS
11.1 INTRODUCTION
11.2 NORTH AMERICA
11.2.1 US
11.2.2 CANADA
11.2.3 MEXICO
11.3 EUROPE
11.3.1 UK
11.3.2 GERMANY
11.3.3 FRANCE
11.3.4 ITALY
11.3.5 SPAIN
11.3.6 REST OF EUROPE (ROE)
11.4 ASIA PACIFIC
11.4.1 CHINA
11.4.2 JAPAN
11.4.3 SOUTH KOREA
11.4.4 INDIA
11.4.5 REST OF APAC (ROAPAC)
11.5 REST OF THE WORLD (ROW)
11.5.1 MIDDLE EAST AND AFRICA (MEA)
11.5.2 SOUTH AMERICA
12 COMPETITIVE LANDSCAPE
12.1 OVERVIEW
12.2 MARKET RANKING ANALYSIS
12.3 COMPETITIVE SCENARIO
12.3.1 PRODUCT LAUNCHES
12.3.2 PARTNERSHIPS AND COLLABORATIONS
12.3.3 ACQUISITIONS
12.3.4 EXPANSIONS
13 COMPANY PROFILES
13.1 KEY PLAYERS
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
13.1.1 NVIDIA
13.1.2 INTEL
13.1.3 XILINX
13.1.4 SAMSUNG ELECTRONICS
13.1.5 MICRON
13.1.6 IBM
13.1.7 ALPHABET
13.1.8 MICROSOFT
13.1.9 FACEBOOK
13.1.10 AMAZON
13.1.11 SALESFORCE
13.1.12 BAIDU
13.1.13 SENTIENT TECHNOLOGIES
13.1.14 ALBERT TECHNOLOGIES
13.1.15 OCULUS360
13.2 OTHER KEY COMPANIES
13.2.1 TWITTER
13.2.2 ORACLE
13.2.3 INSIDESALES
13.2.4 PERSADO
13.2.5 MARIANA
13.2.6 DRAWBRIDGE
13.2.7 NARRATIVE SCIENCE
13.2.8 APPIER
13.2.9 GUMGUM
13.2.10 ZENSED
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
14 APPENDIX
14.1 INSIGHTS FROM INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
14.5 AVAILABLE CUSTOMIZATIONS
14.6 RELATED REPORTS
14.7 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 YEARS CONSIDERED FOR THIS STUDY
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key industry insights
2.1.2.3 Breakdown of primaries
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.3 MARKET BREAKDOWN & DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES IN AI IN MARKETING MARKET
4.2 AI IN MARKETING MARKET, BY OFFERING
4.3 AI IN MARKETING MARKET, BY DEPLOYMENT TYPE
4.4 AI IN MARKETING MARKET, BY TECHNOLOGY
4.5 AI IN MARKETING MARKET, BY APPLICATION AND REGION
4.6 AI IN MARKETING MARKET, BY END-USER INDUSTRY
4.7 AI IN MARKETING MARKET, BY COUNTRY
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing adoption of customer-centric marketing strategies
5.2.1.2 Increased use of social media for advertising
5.2.1.3 Increase in demand for virtual assistants
5.2.2 RESTRAINTS
5.2.2.1 Limited number of AI experts
5.2.3 OPPORTUNITIES
5.2.3.1 Growth in adoption of cloud-based applications and services
5.2.3.2 Evolution of marketing analytics
5.2.4 CHALLENGES
5.2.4.1 Concerns regarding data privacy
5.2.4.2 Unreliability of AI algorithms
5.3 USE CASES
5.3.1 REDBALLOON USED ALBERT TECHNOLOGIES PLATFORM TO REDUCE CUSTOMER ACQUISITION COST
5.3.2 LINCOLN MOTOR COMPANY USED OCULUS360 AI-DRIVEN CONSUMER INSIGHTS PLATFORM
5.3.3 ABUV MEDIA USED SENTIENT ASCEND FOR WIDGET CREATION
5.3.4 GARMIN USED GUMGUM AI TECHNOLOGY TO INCREASE CUSTOMER AWARENESS OF VIVOSMART 3 SMART ACTIVITY TRACKER
5.3.5 CARREFOUR USED APPIER AI TO GROW ONLINE STORE PURCHASES
6 ARTIFICIAL INTELLIGENCE IN MARKETING MARKET, BY OFFERING
6.1 INTRODUCTION
6.2 SOFTWARE
6.2.1 AI SOLUTIONS
6.2.2 AI PLATFORMS
6.3 HARDWARE
6.3.1 PROCESSOR
6.3.2 STORAGE
6.3.3 NETWORK
6.4 SERVICES
6.4.1 DEPLOYMENT & INTEGRATION
6.4.2 SUPPORT & MAINTENANCE
7 ARTIFICIAL INTELLIGENCE IN MARKETING MARKET, BY DEPLOYMENT TYPE
7.1 INTRODUCTION
7.2 CLOUD
7.3 ON PREMISES
8 ARTIFICIAL INTELLIGENCE IN MARKETING MARKET, BY TECHNOLOGY
8.1 INTRODUCTION
8.2 MACHINE LEARNING
8.2.1 DEEP LEARNING
8.2.2 SUPERVISED LEARNING
8.2.3 UNSUPERVISED LEARNING
8.2.4 REINFORCEMENT LEARNING
8.2.5 SEMI-SUPERVISED LEARNING
8.3 NATURAL LANGUAGE PROCESSING (NLP)
8.4 CONTEXT-AWARE COMPUTING
8.5 COMPUTER VISION
9 ARTIFICIAL INTELLIGENCE IN MARKETING MARKET, BY APPLICATION
9.1 INTRODUCTION
9.2 SEARCH ADVERTISING
9.3 SOCIAL MEDIA ADVERTISING
9.4 DYNAMIC PRICING
9.5 VIRTUAL ASSISTANT
9.6 CONTENT CURATION
9.7 SALES & MARKETING AUTOMATION
9.8 ANALYTICS PLATFORM
9.9 OTHERS
10 ARTIFICIAL INTELLIGENCE IN MARKETING MARKET, BY END-USER INDUSTRY
10.1 INTRODUCTION
10.2 ENTERPRISE
10.3 BFSI
10.4 RETAIL
10.5 CONSUMER GOODS
10.6 MEDIA & ADVERTISING
10.7 OTHERS
11 GEOGRAPHIC ANALYSIS
11.1 INTRODUCTION
11.2 NORTH AMERICA
11.2.1 US
11.2.2 CANADA
11.2.3 MEXICO
11.3 EUROPE
11.3.1 UK
11.3.2 GERMANY
11.3.3 FRANCE
11.3.4 ITALY
11.3.5 SPAIN
11.3.6 REST OF EUROPE (ROE)
11.4 ASIA PACIFIC
11.4.1 CHINA
11.4.2 JAPAN
11.4.3 SOUTH KOREA
11.4.4 INDIA
11.4.5 REST OF APAC (ROAPAC)
11.5 REST OF THE WORLD (ROW)
11.5.1 MIDDLE EAST AND AFRICA (MEA)
11.5.2 SOUTH AMERICA
12 COMPETITIVE LANDSCAPE
12.1 OVERVIEW
12.2 MARKET RANKING ANALYSIS
12.3 COMPETITIVE SCENARIO
12.3.1 PRODUCT LAUNCHES
12.3.2 PARTNERSHIPS AND COLLABORATIONS
12.3.3 ACQUISITIONS
12.3.4 EXPANSIONS
13 COMPANY PROFILES
13.1 KEY PLAYERS
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
13.1.1 NVIDIA
13.1.2 INTEL
13.1.3 XILINX
13.1.4 SAMSUNG ELECTRONICS
13.1.5 MICRON
13.1.6 IBM
13.1.7 ALPHABET
13.1.8 MICROSOFT
13.1.9 FACEBOOK
13.1.10 AMAZON
13.1.11 SALESFORCE
13.1.12 BAIDU
13.1.13 SENTIENT TECHNOLOGIES
13.1.14 ALBERT TECHNOLOGIES
13.1.15 OCULUS360
13.2 OTHER KEY COMPANIES
13.2.1 TWITTER
13.2.2 ORACLE
13.2.3 INSIDESALES
13.2.4 PERSADO
13.2.5 MARIANA
13.2.6 DRAWBRIDGE
13.2.7 NARRATIVE SCIENCE
13.2.8 APPIER
13.2.9 GUMGUM
13.2.10 ZENSED
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
14 APPENDIX
14.1 INSIGHTS FROM INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
14.5 AVAILABLE CUSTOMIZATIONS
14.6 RELATED REPORTS
14.7 AUTHOR DETAILS
LIST OF TABLES
Table 1 AI IN MARKETING MARKET, BY OFFERING, 2015–2025 (USD MILLION)
Table 2 AI IN MARKETING MARKET, BY SOFTWARE, 2015–2025 (USD MILLION)
Table 3 AI IN MARKETING MARKET FOR SOFTWARE, BY AI PLATFORM, 2015–2025
Table 1 AI IN MARKETING MARKET, BY OFFERING, 2015–2025 (USD MILLION)
Table 2 AI IN MARKETING MARKET, BY SOFTWARE, 2015–2025 (USD MILLION)
Table 3 AI IN MARKETING MARKET FOR SOFTWARE, BY AI PLATFORM, 2015–2025
According to the "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 market is expected to be valued at USD 6.46 Billion in 2018 and is likely to reach USD 40.09 Billion by 2025, at a CAGR of 29.79% during the forecast period. Growth in the adoption of customer-centric marketing strategies, increase in demand for virtual assistants, and increased use of social media for advertising are the major factors driving the demand for AI-based marketing and sales solutions.
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)
- Oculus360 (US)
- Twitter (US)
- Oracle (US)
- InsideSales (US)
- Persado (US)
- Mariana (US)
- Drawbridge (US)
- Narrative Science (US)
- Appier (US)
- GumGum (US)
- Zensed (Sweden)
Software to hold largest share of AI in marketing market by 2025
Software holds a major share of the overall AI in marketing market owing to the developments in AI software and related software development kits. AI systems require different types of software, including application program interfaces, such as language, speech, vision, and sensor data, along with machine learning algorithms, to realize various applications for sales and marketing. Software platforms and solutions are available at high costs as there are limited number of experts that develop machine learning algorithms.
Market for cloud deployment to grow at higher CAGR between 2018 and 2025
Several businesses have already moved part of their operations to the cloud, which has encouraged vendors to develop cloud-based solutions. Migrating to the cloud has benefits such as enhanced flexibility, control, and scalability. Cloud deployment significantly reduces the capital investment required to implement AI-based solutions for marketing and sales; this is one of the major reasons for the increased demand for cloud-based solutions from most enterprises.
North America to hold major share of AI in marketing market in 2018
North America is expected to account for the largest share of the overall AI in marketing market in 2018. North America is the largest contributor to the adoption and implementation of AI in marketing. The region, including the US and Canada, has shown increased investments in the market, and several vendors have evolved to cater to the rapidly growing market. Considerable growth is expected in the region during the forecast period owing to the growing adoption of AI among physically present retail stores, as well as the ongoing research and pilot projects by North American companies.
