Portland, OR, April 14, 2023 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, the global artificial intelligence (AI) in the social media market generated USD 992.7 million in 2021 and is expected to reach USD 12 billion by 2031, witnessing a CAGR of 28.7% from 2022 to 2031. The report offers detailed analysis of changing market trends, top segments , key investment pockets, value chains, regional landscape and competitive scenario. The report is a useful source of information for leading market players, new entrants, investors, and stakeholders in developing strategies for the future and taking steps to strengthen their position in the market.
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Report coverage and details:
|Market size in 2021||$992.7 million|
|Market Size in 2031||12 billion dollars|
|Number of pages in the report||347|
|Covered segments||Technology, application, enterprise size, industry and region|
|Drivers||The rise of AI integration in social media applications for effective advertising|
|The growing popularity of AI in social media to provide real-time information to target audiences|
|A surge in data generated through social media platforms|
|Opportunities||The increased availability of machine learning programs for social media|
|Limits||Data security and privacy issues|
- The outbreak of the COVID-19 pandemic has positively impacted the growth of artificial intelligence (AI) in the social media market.
- This is due to the rise in the trend of working from home, which has forced employers to use AI-based social media, thus driving the AI in social media market growth. People stayed at home during the lockdown and this led to increased use of social media apps.
- In addition, the pandemic has had a significant impact on the advertising industry. Many companies are reducing their advertising spend, leading to an increased focus on ROI and a greater reliance on AI-powered advertising tools to help increase the effectiveness of ad campaigns.
The report offers detailed segmentation of the global artificial intelligence (AI) social media market based on technology, application, enterprise size, industry vertical, and region. The report provides analysis of each segment and sub-segment with the help of tables and figures. This analysis helps the market players, investors and new entrants in determining the sub-segments to use 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 will dominate the market in terms of revenue by 2031. However, the natural language processing (NLP) segment is estimated to witness the fastest CAGR of 29.7% during the forecast period. The report also looks at 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 way 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 user experience management and image recognition segments.
On the basis of enterprise size, the large enterprise segment held the largest share in 2021, accounting for more than half of the global artificial intelligence (AI) in social media market and will dominate the market in terms of revenue by 2031 .However, the small and medium enterprises (SMEs) segment is expected to witness the fastest CAGR of 29.5% during the forecast period.
On the basis of industry, the BFSI segment held the largest share in 2021, accounting for nearly a quarter of the global artificial intelligence (AI) in social media market. However, the retail and e-commerce segment will dominate the market in terms of revenue and witness the fastest CAGR of 31.7% during the forecast period. The report also provides analysis of IT & Telecom, Media & Advertising, Education and other segments.
On the basis of region, the North American market 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 over the forecast period. However, the market in Asia Pacific is expected to exhibit the highest CAGR of 31.7% from 2022 to 2031. The other regions analyzed in the study include Europe and LAMEA.
The leading players of the global artificial intelligence (AI) 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 the 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 development of each market player.
Allied Market Research (AMR) is the market research and business consulting arm of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises, as well as medium and small businesses, with an unmatched quality of “Market research reports” and “Business Intelligence Solutions.” AMR has a single-minded view of providing business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relationship with various companies and this helps us to extract market data which helps us to generate accurate data tables from surveys and confirms extreme accuracy in our market forecasts. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high data quality and help clients in every possible way to achieve success. All the data presented in the reports published by us are derived through primary interviews with senior executives from leading companies in the respective domain. Our secondary data delivery methodology involves in-depth online and offline research and discussions with experienced industry professionals and analysts.