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The Artificial Intelligence (AI) in Social Media Market size is forecast to increase by USD 5,570 million, at a CAGR of 27.82% between 2023 and 2028. The growth rate of the market depends on several factors, including the growing demand for data integration and visual analytics, the increase in the adoption of data-guided decision-making, and the increase in number of smart-connected devices. Artificial intelligence (AI) research in social media has enabled large technological advances such as virtual agents and chatbots, targeted advertising, suggestive web searches, voice and speech recognition, pattern recognition, machine translation, face recognition, automatic scheduling, and autonomous driving. AI provides a centralized view of all business activities and associated information. The digital transformation of businesses is an effort to create connected platforms and new industry revenue streams. Consequently, many industries are opting for real-time solutions, besides spending on IT infrastructure and analytical solutions to have a competitive advantage in the market. Modern businesses are marked by an increase in the need for advanced analytics and business intelligence (BI).
The report offers extensive research analysis on Artificial Intelligence (AI) in Social Media Market, with a categorization based on Application, including predictive risk management, consumer experience management, and sales and marketing. It further segments the market by End-user, encompassing large enterprise and SMEs. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD million) for all the mentioned segments.
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One of the key factors driving the market growth is the growing demand for data integration and visual analytics. The process of deploying and maintaining reliable data interfaces is difficult, due to the complexity of the process and the huge volumes of data being generated across several end-user industries. Thus, enterprises around the world are adopting data integration solutions.
Moreover, AI in social media allows the real-time synthesizing of data to facilitate real-time analysis for effective decision-making, thus enabling enterprises to monitor, transform, and deliver data, understand business processes, and bridge the gap between businesses and IT. In addition, AI in social media helps end-user companies integrate technical and business process data from different sources and convert it into meaningful business insights. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the market growth is the rising adoption of cloud-based solutions. With the growing applications of robotics in repetitive and risky tasks, end-users are increasingly seeking avenues to eliminate the limitations of industrial automation and robotics technologies. In addition, these limitations arise due to factors such as cost, computational capacity, storage, size, power supply, motion mode, and working environment.
Therefore, the adoption of cloud-based AI solutions is increasing among the end-user industries to enhance the capabilities of the existing systems. In addition, artificial intelligence as a service (AIaaS) in social media is gaining traction among various industrial users of AI as it allows individuals and companies to access AI for various applications without a large initial investment and with lower risks of failure. Therefore, it is positively impacting artificial intelligence in social media market. Hence, such factors are driving the market growth during the forecast period.
Existing issues of AI are one of the key challenges hindering market growth. The existing AI hardware has limited capabilities as it does not have the ability to simulate a human brain, and the software cannot match the intelligence of humans. In addition, advanced hardware will enable advanced simulations and calculations at a much faster rate.
Moreover, the creation of efficient algorithms that can make logical assumptions and solve puzzles more easily at a higher speed remains another challenge for the market. In addition, the solution is to develop effective problem-solving methods and algorithms that can help AI in solving problems faster at the software level. Therefore, it is negatively impacting the artificial intelligence in social media market. Hence, such factors are hindering the market growth during the forecast period.
The predictive risk management segment is estimated to witness significant growth during the forecast period. In recent years, social media has been significantly adopted by several big brands and organizations. In addition, social media data can help businesses improve brand health, optimize customer experience, and accelerate campaign performance. Furthermore, it is expected that predictive risk management will use social media as a primary tool to identify, mitigate, and manage risk factors.
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The predictive risk management segment was the largest segment and was valued at USD 290.00 million in 2018. Moreover, AI in social media enables sophisticated text and visual analyses and predictive modeling in various fields and uses social media to identify signals and patterns that may precede a threat. In addition, by adopting AI for social media, end-user organizations can implement new social media tactics and guidelines to properly escalate, identify, and minimize the impact of risks (such as rogue accounts and consumer vilification). Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
The growing adoption of social media across large enterprise segment will increase the market growth. The increasing use of AI in social media is transforming the landscape for large enterprises, reshaping the way they engage with their audiences and analyze vast amounts of data. In addition, large enterprises are increasingly leveraging AI to enhance their social media strategies, from personalized customer interactions to data-driven decision-making. Furthermore, advanced algorithms enable these organizations to sift through immense datasets, extracting valuable insights that inform marketing strategies, customer preferences, and market trends. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The growth rate of the market in North America is fuelled by the high adoption of new technologies by the retail, manufacturing, and healthcare sectors and the presence of major cutbacks in the social media sector in terms of security. In addition, a pioneer in the adoption of AI technologies across industries, North America is an attractive market with the presence of prominent global IT and retail organizations. Furthermore, the growth of the market is also driven by events such as global conferences, product launches, and product exhibitions. In addition, most of the marketing and telecom organizations in this region use AI technologies to host and promote events. Hence, such factors are driving the market growth in North America during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Adobe Inc: The company offers artificial intelligence in social media such as Adobe Sensei that uses AI and machine learning to create, optimize, and target customer experiences, personalize marketing, and deliver one to one customer experiences at scale.
Alphabet Inc: The company offers artificial intelligence in social media such as Contact Center AI, a cloud native platform to support multichannel communications between customers and agents.
Amazon.com Inc: The company offers artificial intelligence in social media such as amazon athena and amazon quicksight, a fully managed cloud scale business intelligence service that allows to create data visualizations and dashboards.
The Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Artificial Intelligence (AI) In Social Media Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 27.82% |
Market Growth 2024-2028 |
USD 5,570 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
25.59 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 41% |
Key countries |
US, China, India, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adobe Inc., Alphabet Inc., Amazon.com Inc., Cision US Inc., Converseon Inc, Meta Platforms Inc., Hootsuite Inc, International Business Machines Corp., Ipsos Group S A, LinkedIn Corp., Meltwater NV, Microsoft Corp., NetBase Solutions Inc., Qualtrics LLC, Salesforce Inc., SAS Institute Inc., Snap Inc., Sprinklr Inc., Sprout Social Inc., and Talkwalker Sarl |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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