The artificial intelligence in marketing market in MEA is expected to reach US$ 7,312.42 million by 2028 from US$ 1,159.26 million in 2021. The market is estimated to grow at a CAGR of 30.1% from 2021 to 2028. Cloud computing is reducing the entry barrier for smaller companies seeking to profit from compute-intensive business analytics that was previously only open to the large corporations. Smaller companies are increasingly gaining access to AI. These cloud-based AI solutions effectively allow and enhance the adoption of AI. Cloud-based applications and services can provide users with immediate access to hardware services with no upfront capital investments, resulting in a faster time to market in many industries. Hence, the cloud has become an adaptable infrastructure that can be shared by different end users who may use it in a variety of ways. Overall, the cloud-based applications and services lowered costs, defined services, reduced risks, access to the latest technology hence, cloud-based applications and services are growing. Example of cloud-based AI services is Google Cloud Machine. Therefore, the adoption of cloud-based applications and services bolsters the market growth. Additionally, vivid personalized Ad serving is among the other factors expected to drive the growth of the MEA artificial intelligence in marketing market during the forecast period. By end-use industry, the MEA artificial intelligence in marketing market for the retail segment is expected to grow fastest during the forecast period.The artificial intelligence is used in the every aspect of the retail sector.
AI is being reinvented in the retail space.This spans from using computer vision to customize promotions within real time to application of machine learning for purpose of inventory management, the retailers are able to harness the use of AI to connect with the customer base and result in better operation and efficiency.
Retailers are choosing to respond to their customers like never.Plenty of retailers are using AI in some or the other parts of their operations.
This include the use of AI in CRM software to automate marketing activities or for predictive analysis that helps in the identification of customers that are likely to purchase certain products. The use of AI computing in retail settings acts as a catalyst of insight by transforming the massive volumes of raw information and data into valuable and actionable intelligence. AI is varied and can be used in smallest of settings such as small boutique to a multinational supermarket to make the customers experience user-friendly, personalized, and enjoyable. The use of AI in retail have helped in the empowerment of businesses with the high levels of data to improve retail operations and generate new business opportunities. Among the MEA countries, Turkey, Iran, and South Africa recorded the highest number of COVID-19 cases.Other major countries facing the economic impact of COVID-19 OUTBREAK include Iraq, Israel, Morocco, Saudi Arabia, and the UAE.
The region comprises many growing economies such as the UAE and Saudi Arabia, which are prospective markets for Artificial Intelligence in marketing market.The COVID-19 pandemic had significant effects on global economies, as it has highlighted the vast applications of data science and Artificial Intelligence-driven tools in the marketing sector.
Countries continue to integrate the use of these technologies.The UAE is the first state to create a minister of state dedicated to artificial intelligence.
Technologies allowing business continuity in the ICT industry. In social distancing scenario, the technology is playing crucial role in virtual assistance, with offices being closed and travel being restricted. Video meetings have enabled companies to stay in touch with clients and partners, which helps in minimizing the impact on business. Thus, the factor is likely to boost the growth of the MEA artificial intelligence in marketing market. The overall MEA artificial intelligence in marketing market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the MEA artificial intelligence in marketing market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the MEA artificial intelligence in marketing market. Accenture; Adobe; Affectiva; Amazon Web Services; Bidalgo; IBM Corporation; Microsoft Corporation; Oracle Corporation; Salesforce.com, inc.; SAP SE; SAS Institute Inc.; and Xilinx, Inc. are among the players operating in the market.
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