Portland, OR, April 14, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global artificial intelligence (AI) in social media market generated $992.7 million in 2021, and is estimated to reach $12 billion by 2031, witnessing a CAGR of 28.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $992.7 Million |
| Market Size in 2031 | $12 Billion |
| CAGR | 28.7% |
| No. of Pages in Report | 347 |
| Segments Covered | Technology, Application, Enterprise Size, Industry Vertical and Region |
| Drivers | 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 | |
| A surge in data generated through social media platforms | |
| Opportunities | The increased availability of machine learning programs for social media |
| Restraints | Data security and privacy concerns |
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.
The report offers a detailed segmentation of the global artificial intelligence (AI) in social media market based on technology, application, enterprise size, industry vertical, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on technology, the machine learning and deep learning segment held the largest share in 2021, accounting for two-thirds of the global artificial intelligence (AI) in social media market and would dominate the market in terms of revenue through 2031. The natural language processing (NLP) segment, however, is estimated to witness the fastest CAGR of 29.7% during the forecast period. The report also discusses the 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.
Based on enterprise size, the large enterprises segment held the largest share in 2021, accounting for more than half of the global artificial intelligence (AI) in social media market and would dominate the market in terms of revenue through 2031. The small and medium enterprises (SMEs) segment, however, is estimated to witness the fastest CAGR of 29.5% during the forecast period.
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.
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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The report analyzes these key players of global artificial intelligence (AI) in social media market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
