(MENAFN- EIN Presswire) Artificial Intelligence (AI) in Social Media Market
The increased use of AI tools is projected to boost demand for AI in social media.
PORTLAND, PORTLAND, OR, UNITED STATE, May 16, 2023 /einpresswire.com / -- Allied Market Research published a new report, titled, " The artificial intelligence (ai) in social media market Reach to USD 12 Billion by 2031 | Top Players as - Meta, Snap & Baidu." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global artificial intelligence in social media market size was valued at USD 992.7 million in 2021, and is projected to reach Usd 12 billion by 2031, growing at a CAGR of 28.7% from 2022 to 2031.
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The rise in the integration of AI in social media applications for effective advertising, the growing popularity of AI in social media to provide real-time information on target audiences, and a surge in data generated through social media platforms drive the growth of the global artificial intelligence (AI) in social media market. By technology, the machine learning and deep learning segment would dominate the market in terms of revenue in 2031.
The global Artificial Intelligence in social media market trends is segmented into organization size, technology, application, industry vertical, and region. Depending on the organization size, the market is divided into large enterprises and small and medium-sized enterprises (SMEs). Based on technology, it is categorized into machine learning and deep learning, and natural language processing. By application, it is divided into sales and marketing, customer experience management, predictive risk assessment, and image recognition. Based on industry vertical, it is bifurcated into BFSI, IT & telecom, retail and e-commerce, media & advertisement, education, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on industry vertical, the BFSI segment held the largest share in 2021, accounting for nearly one-fourth of the global artificial intelligence (AI) in social media market. The retail and e-commerce segment, however, would dominate the market in terms of revenue and witness the fastest CAGR of 31.7% during the forecast period. The report also provides an analysis of IT and telecom, media and advertisement, education, and others segments.
In terms of application, the sales and marketing segment captured the largest market share of more than one-third of the global artificial intelligence (AI) in social media market in 2021 and is expected to lead the trail during the forecast period. However, the predictive risk assessment segment is likely to achieve the fastest CAGR of 31.3% through 2031. The report also discusses the customer experience management and image recognition segments.
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Based on region, the market in North America was the largest in 2021, accounting for nearly two-fifths of the global artificial intelligence (AI) in social media market and is likely to maintain its dominance during the forecast period. The market in Asia-Pacific, however, is expected to manifest the highest CAGR of 31.7% from 2022 to 2031. The other regions analyzed in the study include Europe and LAMEA.
Leading players of the global artificial intelligence (AI) in social media market analyzed in the research include Baidu, Facebook, IBM Corporation, Microsoft Corporation, Adobe, Snap, Inc. (Snapchat), Amazon Web Services, Inc., Google LLC (Alphabet), Salesforce, Inc., and Hootsuite, Inc.
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Covid-19 Scenario:
● The outbreak of the COVID-19 pandemic impacted the growth of artificial intelligence (AI) in social media market in a positive way.
● This is due to the rise in the work from home trend, which compelled employers to use AI-based social media, thereby driving the AI in the social media market growth. People remained at home during the lockdown, and this led to the increased usage of social media applications.
● Additionally, the pandemic had significantly impacted the advertising industry. Many companies cut back on their ad spends, leading to an increased focus on ROI and a greater reliance on AI-powered advertising tools to help maximize the effectiveness of ad campaigns.
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