Virtual Assistant Segment is expected to be the fastest growing during the forecast period for SAM Artificial Intelligence in Marketing Market

  According to a new market research study on “SAM 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$ 11,291.23 million by 2028 from US$ 1,327.99 million in 2020. The market is estimated to grow at a CAGR of 30.7% from 2021 to 2028. The report provides trends prevailing in the SAM artificial intelligence in marketing market along with the drivers and restraints pertaining to the market growth. Uprising adoption of customer-centric marketing strategies is the major factor driving the growth of the SAM artificial intelligence in marketing market. However, issues associated with the minimal number of artificial intelligence (AI) experts hinder the growth of SAM artificial intelligence in marketing market.

The SAM 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.

Brazil has the highest number of COVID-19 cases, followed by Peru, Chile, Colombia, and Ecuador, among other South American countries. Governments of these countries have taken an array of actions to protect their citizens and contain COVID-19 spread. The governments of various countries in South America are taking several initiatives to protect people and to control COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions.

Accenture; Adobe; Amazon Web Services; IBM Corporation; Microsoft Corporation; Oracle Corporation; Salesforce.com, Inc.; SAP SE; SAS Institute Inc.; and Xilinx, Inc. are among the leading companies in the SAM 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, IBM launched new artificial intelligence-based solutions for marketing and media Industry. These new solutions comprised of IBM Watson Advertising Accelerator, IBM Watson Advertising Attribution, IBM Watson Advertising Predictive Audiences. These new solutions will increase the adoption of artificial intelligence-based solution in marketing and advertising sector.

The report segments the SAM Artificial Intelligence in Marketing market as follows:

SAM Artificial Intelligence in Marketing Market – By Offering

• Solution
• Services

SAM Artificial Intelligence in Marketing Market – By Application

• Social Media Advertising
• Search Advertising
• Dynamic Pricing
• Virtual Assistant
• Content Curation
• Sales & Marketing Automation
• Analytics Platform
• Others

SAM Artificial Intelligence in Marketing Market – By End-Use Industry

• BFSI
• Retail
• Consumer Goods
• Media and Entertainment
• Others

SAM Artificial Intelligence in Marketing Market – By Country

• Brazil
• Argentina
• Rest of  SAM