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Market Analysis
The global AI in social media market will touch USD 5.32 billion at a 28.70% CAGR by 2032, as per the recent Market Research Future report.
Drivers
Growing Use of Social Media Platforms for Online Shopping to Boost Market Growth,
The growing use of social media platforms for online shopping along with other e-commerce activities will bolster market growth in the forecast period. Social media is turning increasingly popular as the retail business utilize them for strengthening customer relationships. The use of artificial intelligence in social media aids retail brands in predicting marketing trends, making their promotions highly effective, ranking higher over their competitors, and getting other perks.
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Key Players
Key players profiled in the AI in social media market report include:
Opportunities
Increasing Adoption by Large Enterprises to offer Robust Opportunities
The increasing adoption of AI in social media by large enterprises will offer robust opportunities for the AI in social media market in the forecast period. This is since there are abundant resources and experience which can be used for developing and putting into practice the advanced AI solutions. Also, to boost social media presence, increase the customer interaction & have an edge in the industry, the large enterprises are making huge investments in AI.
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Restraints and Challenges
Limited AI Professionals to act as Market Restraint
The limited AI professionals coupled with lack of data security in cloud may act as market restraints over the forecast period.
Market Segmentation
The AI in social media market is bifurcated based on component, application, and technology.
By technology, deep learning will lead the market in the forecast period.
By application, sales and marketing will domineer the market in the forecast period.
By component, solution will spur the market in the forecast period.
COVID-19 Analysis
The COVID-19 epidemic possessed a positive impact on the AI in social media market. The usage of social media went up owing to strict government restrictions and lockdowns. Because of the outbreak, there had been a limitation in in-person interaction while online engagement via various social media platforms for shopping, communication, and entertainment had increased.
Browse In-depth Market Research Report (100 Pages, Charts, Tables, Figures) on AI in Social Media Market –
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Regional Analysis
North America to Head AI in Social Media Market
North America will head the market over the forecast period. This region in the past few years has been improving as more money had been invested to augment AI technology solutions. Investments and favourable government activities fuel market growth here. The Government of Canada for instance stated that it will invest in innovative technology and enterprises alike. The startup in AI created a long-term deal with Google to offer processing power to train its software models. The numerous social media platforms in fact are one amid the initial choices to market services and products.
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