Market Introduction
North America comprises of the US, Canada, and Mexico. The US is a developed country in terms of modern technology, the standard of living, infrastructure, and many others. Across North America, technological advancements have led to highly competitive markets. With the increasing demand from customers for high-quality products and Application, thus, the market players are constantly focusing on innovating to serve their customers in the best possible way. The market for artificial intelligence in North America is majorly driven by the increasing penetration of big data analytics and other technologies. Also, expanding adoption of customer-centric marketing strategies is the major factor driving the growth of the North America artificial intelligence in marketing market.
North America is one of the most important regions for adopting and developing new technologies due to favorable government policies to boost innovation, the presence of a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the region's economic growth negatively. Moreover, COVID-19 has positively impacted businesses in marketing. According to Worldometer till 20th April 2021 32,475,043 cases have been registered in the US alone. In the first nine months, overhead costs, including expenses for sales, Research & Development (R&D), and administration of various providers fell adversely, due to severe measures taken during the pandemic. Despite the effects of the global outbreak, earnings were improved, primarily due to continuous optimization of the cost structure. Besides, owing to the rising number of cases in North America, many ongoing projects that were considered essential by the government authorities were not stopped, moreover rise in demand of artificial intelligence has been seen in pandemic.
Market Overview and Dynamics
The artificial intelligence in marketing market in North America, is expected to reach US$ 35,863.11 million by 2028 from US$ 5,192.21 million in 2021. The market is estimated to grow at a CAGR of 31.8% from 2021 to 2028. Cloud computing is reducing the entry barrier for smaller companies seeking to profit from compute-intensive business analytics that was previously only open to the large corporations. Smaller companies are increasingly gaining access to AI. These cloud-based AI solutions effectively allow and enhance the adoption of AI. Cloud-based applications and services can provide users with immediate access to hardware services with no upfront capital investments, resulting in a faster time to market in many industries. Hence, the cloud has become an adaptable infrastructure that can be shared by different end users who may use it in a variety of ways.
Key Market Segments
The North America 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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the artificial intelligence in marketing market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Accenture; Adobe; Affectiva; Amazon Web Services; Bidalgo; CognitiveScale; IBM Corporation; Microsoft Corporation; Novantas (Amplero), Inc; Oracle Corporation; Salesforce.com, inc.; SAP SE; SAS Institute Inc.; and Xilinx, Inc. among others.
Reasons to buy report
- To understand the North America artificial intelligence in marketing market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America artificial intelligence in marketing market
- Efficiently plan M&A and partnership deals in North America artificial intelligence in marketing market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America artificial intelligence in marketing market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
NORTH AMERICA ARTIFICIAL INTELLIGENCE IN MARKETING MARKET SEGMENTATION
North America Artificial intelligence in Marketing Market -By Offering
- Solution
- Services
North America Artificial intelligence in Marketing Market -By Application
- Social Media Advertising
- Search Advertising
- Dynamic Pricing
- Virtual Assistant
- Content Curation
- Sales & Marketing Automation
- Analytics Platform
- Others
North America Artificial intelligence in Marketing Market -By End- Use Industry
- BFSI
- Retail
- Consumer Goods
- Media and Entertainment
- Others
North America Artificial intelligence in Marketing Market -By Country
- US
- Canada
- Mexico
North America Artificial intelligence in Marketing Market -Company Profiles
- Accenture
- Adobe
- Affectiva
- Amazon Web Services
- Bidalgo
- CognitiveScale
- IBM Corporation
- Microsoft Corporation
- Novantas (Amplero), Inc.
- Oracle Corporation
- Salesforce.com, inc.
- SAP SE
- SAS Institute Inc.
- Xilinx, Inc.
North America Artificial Intelligence in Marketing Market Strategic Insights
North America Artificial Intelligence in MarketingMarket Report Highlights
| Report Attribute | Details |
| Market size in 2021 | US$ 5,192.21 Million |
| Market Size by 2028 | US$ 35,863.11 Million |
| CAGR (2021 - 2028) | 31.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Offering
|
|
Regions and Countries Covered
|
|
| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
|
North America Artificial Intelligence in Marketing Market Country and Regional Insights
