Retail Segment is expected to be the fastest growing during the forecast period for MEA Artificial Intelligence in Marketing Market.
According to a new market research study on “MEA 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$ 7,312.42 million by 2028 from US$ 1,159.26 million in 2021. The market is estimated to grow at a CAGR of 30.1% from 2021 to 2028. The report provides trends prevailing in the MEA artificial intelligence in marketing market along with the drivers and restraints pertaining to the market growth. Vivid personalized Ad serving is the major factor driving the growth of the MEA artificial intelligence in marketing market. However, issues associated with the bounded number of artificial intelligence (AI) experts hinder the growth of MEA artificial intelligence in marketing market.
The MEA 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.
Among the MEA countries, Turkey, Iran, and South Africa have faced the highest number of COVID-19 cases. Other major countries facing the economic impact of COVID-19 include Iraq, Israel, Morocco, Saudi Arabia, and UAE. The region comprises many growing economies such as UAE and Saudi Arabia, which are prospective markets for artificial intelligence in marketing market. The global COVID-19 pandemic would have significant effects on global economies. because the COVID-19 pandemic has highlighted the vast applications of data science and artificial intelligence-driven tools in the marketing sector. Yet as countries continue to integrate the use of these technologies. The UAE is the first state to create a minister of state dedicated to artificial intelligence. Technologies allowing business continuity in the ICT industry. In social distancing scenario the technology is playing crucial role in virtual assistance, with offices being closed and travel being restricted, video meetings have enabled companies to stay in touch with clients & partners which helps in minimizing the impact on business. Thus, the factor is likely to boost the growth of market.
Accenture; Adobe; Affectiva; Amazon Web Services; Bidalgo; IBM Corporation; Microsoft Corporation; Oracle Corporation; Salesforce.com, inc.; SAP SE; SAS Institute Inc.; and Xilinx, Inc. are among the leading companies in the MEA 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, Adobe Inc., Microsoft Corp. and C3 Artificial Intelligence collaborated to launch of artificial intelligence powered customer relationship management solution, C3 ARTIFICIAL INTELLIGENCE CRM supported by Microsoft Dynamics 365. The purpose of this artificial intelligence powered solution is to provide predictive business insights to drive customer-focused operations.
The report segments the MEA Artificial Intelligence in Marketing market as follows:
MEA Artificial Intelligence in Marketing Market – By Offering
MEA Artificial Intelligence in Marketing Market – By Application
- Social Media Advertising
- Search Advertising
- Dynamic Pricing
- Virtual Assistant
- Content Curation
- Sales & Marketing Automation
- Analytics Platform
MEA Artificial Intelligence in Marketing Market – By End-Use Industry
- Consumer Goods
- Media and Entertainment
MEA Artificial Intelligence in Marketing Market – By Country
- Saudi Arabia
- South Africa
- Rest of MEA
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