Market Highlights:
The AI in social media market is presumed to garner U.S.D 2.6 billion during the forecast period (2018-2023). The market is considered to register 28.6 % CAGR owing to the increased use of AI-enabled smartphones, asserts Market Research Future. Artificial intelligence (AI) is gaining prominence as modern-day consumers are active on social media. With growing number of social media influencers, rising volume of social media influencers, increasing number of requests for service through social media channels, and marketers from several end-user industries such as telecommunication, BFSI, and E-commerce are exploring AI-based tools in order to influence the power of social media.
Machine learning technology has immense importance in social media platforms as it determines data patterns using AI, and big data analytics from unstructured data that is generated on the social media. The growth of deep learning and machine learning technology is expected to have significant growth, due to its utilization in self-learning services and automating social media applications. The use of the NLP technology in social media platforms helps in offering 24/7 services to customers. Also, NLP is used to understand human languages via virtual chatbots. AI is seeping its way into the user experience on social platforms, creating a better journey for users in the process.
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Major key Players
- Salesforce (US),
- Google (US),
- Facebook (US),
- AWS (US),
- IBM (US),
- Adobe Systems (US),
- Baidu (China),
- Twitter (US)
- Snap (US).
Other emerging players in the AI Social Media market are Clarabridge (US), Converseon (US), Sprinklr (US), Unmetric (US), ISentium (US), Cluep (US), Netbase (US), Spredfast (US), Synthesio (US), Crimson Heaxagon (US), Hootsuite (Canada), Sprout Social (US), Vidora (US), Meltwater (US), and Talkwalker (Luxembourg).
According to MRFR, The global AI in social media market is expected to reach approximately USD 2.6 Billion by 2023 growing at a ~28.6% CAGR over the forecast period 2018-2023.
Competitive Analysis
The integration of AI in social media is transforming the market and is witnessing a major trend of new product development strategy across the region. Key players have already identified AI as the way forward for enhancing their business as large amount of investments are done by these companies to leverage the social media market. Companies adopt various organic strategies such as product development & enhancement as well as inorganic strategies such as expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market to sustain in the long run.
Segmentation:
By technology, the market is segmented into machine learning, deep learning and natural learning process (NLP).
By application, the market is segmented into sales and marketing, customer experience management, predictive risk assessment, and others.
By component, the market is segmented into solutions and services.
By enterprise size, the market is segmented into large enterprise and SME.
By end-user, the market is segmented into retail and ecommerce, banking, financial services, and insurance (bfsi), media and advertising, education, public utilities, others.
Regional Analysis:
Geographically, the AI in social media market span across Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).
Among all the regions, North America is presumed to dominate the global market in terms of revenue. The growth is attributed to the presence of market giants, availability of high government funding, and strong technical adoption base in this region. Also, the outburst of cloud-based services in economies such as Canada and the U.S. are contributing to the growth of the market in this region.
Asia Pacific is considered to register the fastest growth rate owing to the increased penetration of smartphones coupled with healthy expansion of social media U.S.er base. This region is also experiencing growing demand for cloud-driven solutions which is further resulting in the rising investment and advancements in the media & advertisements and retail & e-commerce sectors.
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Intended Audience
- Application providers
- System integrators
- Consultancy firms
- Service providers
- Data integration service providers
- Managed services providers
- Artificial intelligence developers
LIST OF TABLES
Table 1 Global AI in Social Media Market, by Region, 2018–2023
Table 2 North America: AI in Social Media Market, by Country, 2018–2023
Table 3 Europe: AI in Social Media Market, by Country, 2018–2023
Table 4 Asia-Pacific: AI in Social Media Market, by Country, 2018–2023
Table 5 Middle East & Africa: AI in Social Media Market, by Country, 2018–2023
Continued……
LIST OF FIGURES
FIGURE 1 Global AI in Social Media Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global AI in Social Media Market
FIGURE 4 Value Chain of Global AI in Social Media Market
FIGURE 5 Share of Global AI in Social Media Market in 2017, by Country
Continued……
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