The Artificial Intelligence (AI) in social media market is expected to grow at a CAGR of 28.3% during the forecast period
MarketsandMarkets forecasts the global AI in social media market to grow from USD 633.1 million in 2018 to USD 2,197.1 million by 2023, at a Compound Annual Growth Rate (CAGR) of 28.3% during the forecast period. The increasing adoption of the AI technology for various applications in the social media sector and the utilization of AI-enabled smartphones are expected to drive the growth of the AI in social media market. The limited number of AI experts and slow digitalization rate are affecting the adoption of the AI technology in the emerging economies, which in turn, are restraining the growth of the market.
The predictive risk assessment segment is expected to grow at the highest CAGR during the forecast period
On the basis of applications, the AI in social media market is segmented into sales and marketing, customer experience management, and predictive risk assessment. AI-enabled predictive risk assessment applications include competitive intelligence, fraud detection and prevention, compliance, and public safety and law enforcement.
Among technologies, the machine learning and deep learning segment is expected to have the largest market size during the forecast period
The machine learning and deep learning technology is gaining importance in social media platforms, because it determines data patterns using AI, big data, and analytics from unstructured data that is generated on the social media. The growth of the machine learning and deep learning technology is expected to have fueled, due to its utilization in self-learning services and automating social media applications.
North America is expected to have the largest market size during the forecast period
Among regions, North America is expected to have the largest market size in the AI in social media market during the forecast period. The North American region has shown increased investments in the market. A considerable growth is expected in the region during the forecast period. The US is one of the biggest markets for AI-based solutions in this region.In this region, the enterprises and governments have adopted AI in social media technologies for providing better customer experience.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the AI in social media market.
By Company Type: Tier I: 24%, Tier II: 40%, and Tier III: 36%
By Designation: C-Level: 24%, Director Level: 36%, and Others: 40%
By Region: North America: 28%, EMEA: 38%, and APAC: 34%
The report includes the study of the key players offering AI in social media solutions and services. Google (US), Facebook (US), AWS (US), IBM (US), Adobe Systems (US), Baidu (China), Salesforce (US), Twitter (US), Snap (US), Clarabridge (US), Converseon (US), Sprinklr (US), Unmetric (US), ISentium (US), Cluep (US), Netbase (US), Spredfast (US), Synthesio (US), Crimson Heaxagon (US), Hootsuite (CANADA), Sprout Social (US), Vidora (US), Meltwater (US), and Talkwalker (Luxembourg) are a few companies that have been profiled in the report. The report includes an in-depth competitive analysis of these key AI in social media market players, along with their company profiles that include business overviews, product offerings, recent developments, and market strategies.
The AI in social media market has been segmented on the basis of technologies, applications, components (solutions and services), enterprise size, end-user, and regions. The technology segment of the AI in social media market includes machine learning and deep learning, and NLP. The application segment includes sales and marketing, customer experience management, and predictive risk assessment. The solutions segment includes software tools and platforms, while the services segment includes support and maintenance, training, and system integration. On the basis of enterprise size, the AI in social media market has been divided into Small and Medium-sized Enterprises (SMEs) and large enterprises. Finally, on the basis of regions, the AI in social media market has been segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.
The report would help the market leaders and new entrants in the AI in social media market in the following ways:
1. The report segments the market into various subsegments, hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split across various end-users and regions.
2. The report helps in understanding the overall growth of the market. It provides information on key market drivers, restraints, challenges, and opportunities.
3. The report helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.