The artificial intelligence in marketing market in North America is expected to reach US$ 35,863.11 million by 2028 from US$ 5,192.21 million in 2021. The market is estimated to grow at a CAGR of 31.8% from 2021 to 2028. Many companies have realized the platform’s tremendous potential and are using it for ecommerce, customer support, marketing, and public relations, among other things. Artificial intelligence (AI) is a crucial component of today’s social media networks. Many social networks, including the most popular social networks such as Facebook, LinkedIn, Instagram, and Snapchat, give marketers an ability to run paid advertising campaigns for targeted users based on demography and behavior. Additionally, the expanding adoption of customer-centric marketing strategies is among the other factors expected to propel the growth of the artificial intelligence in marketing market in North America during the forecast period. Based on offering, the solution segment led the North America artificial intelligence in marketing market in 2020.AI in marketing software solutions helps analyze and automate content generation to boost one’s ability to understand the customer behavior for improved personalization.
AI systems for marketing can execute the tasks that are naturally associated with the human intelligence with the extensive knowledge of machine learning and deep learning for distinct implementation.The market for the solution segment is expected to witness substantial growth during the forecast period as various companies along with their marketing teams are focused toward adopting intelligent technology solutions to enhance operational efficiency and improve customer experience.
With the help of these solutions, the marketers are able to achieve a nuance and comprehensive understanding of their customers. North America is one of the most important regions for adopting and developing new technologies due to favorable government policies to boost innovation, the presence of a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada.Hence, any hindrance on the growth of industries impacts the region’s economic growth negatively.
Moreover, the COVID-19 outbreak has positively impacted businesses in marketing.According to Worldometer till April 20th, 2021, 32,475,043 COVID-19 confirmed cases have been registered in the US alone.
In the first nine months, overhead costs, such as expenses for sales and research & development (R&D), and administration of various providers fell adversely due to severe measures imposed by government during the pandemic.Despite the effects of the global outbreak, earnings were improved, primarily due to continuous optimization of the cost structure.
Besides, owing to the rising number of cases in North America, many ongoing projects that were considered essential by the government authorities were not stopped. Moreover, the demand for artificial intelligence is rising amid the pandemic. The overall North America 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 North America 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 North America artificial intelligence in marketing market. Accenture; Adobe; Affectiva; Amazon Web Services; Bidalgo; CognitiveScale; IBM Corporation; Microsoft Corporation; Novantas (Amplero), Inc; 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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