BFSI Segment to Dominate APAC Artificial Intelligence in Marketing Market during 2021–2028.

 According to a new market research study on “APAC Artificial Intelligence in Marketing Market to 2028 – COVID-19 Impact and Analysis and Forecast by: Offering, Application, and End- use Industry,” is expected to reach US$ 26,023.61million by 2028 from US$ 3,652.85 million in 2021. The market is estimated to grow at a CAGR of 32.4% from 2021 to 2028. The report provides trends prevailing in the APAC artificial intelligence in marketing market along with the drivers and restraints pertaining to the market growth. Progress in adoption of cloud-based applications and services is the major factor driving the growth of the APAC artificial intelligence in marketing market. However, issues associated with the confines number of artificial intelligence (AI) experts hinder the growth of APAC artificial intelligence in marketing market.

The APAC artificial intelligence in marketing market is segmented into offering, application, end-use industry, and country. Based on offering, the market is segmented into solution and services. The solution segment dominated the market in the year 2020 and services segment is expected to be the fastest growing during forecast period. Based on application, the market is segmented into social media advertising, search advertising, dynamic pricing, virtual assistant, content curation, sales & marketing automation, analytics platform, and others. The social media advertising segment dominated the market in year 2020 and virtual assistant segment is expected to be the fastest growing during the forecast period. Based on end- use industry, the market is segmented into BFSI, retail, consumer goods, media and entertainment, and others. The BFSI segment dominated the market in year 2020 and retail segment is expected to be the fastest growing during the forecast period.

The COVID-19 outbreak has resulted in a massive financial loss in APAC. The governments in APAC countries are taking possible steps to reduce its effects by announcing lockdown, negatively affecting the manufacturing sector. China, India, South Korea, Taiwan dominates the global manufacturing sector with significantly unprecedented, large numbers of manufacturing units. The COVID-19 emergence and imposition of lockdown across the country have substantially disrupted its manufacturing sector. Since the emergence of the COVID-19 virus, the government has undergone several lockdown phases, which have adversely affected the manufacturing and construction industries. Humans' everyday lives have become increasingly reliant on social media. In the lockdown situation nothing much to do at home; hence there is a spike in online media consumption in the Covid 19 pandemic. Entrepreneurs should link their social media marketing to the current situation. Business owners need to craft engagement techniques that help them communicate with their customers more than ever before. The company's focus is on customized products and other ways to keep the company services running at a good pace.

Accenture; Adobe; Amazon Web Services; Appier Inc; Bidalgo; CognitiveScale; IBM Corporation;  Microsoft Corporation; Novantas (Amplero), Inc; Oracle Corporation; Salesforce.com, inc.; SAP  SE; SAS Institute Inc.; and Xilinx, Inc.  are among the leading companies in the APAC artificial intelligence in marketing market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, SAS has launched four new artificial intelligence powered services to help brands accelerate the value delivered through analytics with a hybrid marketing approach. SAS 360 Digital Insight Service, SAS 360 Customer Insight Service, SAS 360 Attribution Service, and SAS 360 Data Activation Service will help marketers in marketing data management and agile marketing planning.

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