According to a new market researchreport ”AI in Social Media Market byTechnology (Deep Learning & Machine Learning, and NLP), Application (Sales& Marketing, Customer Experience Management, and Predictive RiskAssessment), Component, Enterprise Size, End-User, and Region - Global Forecastto 2023", published by MarketsandMarkets™, the global AI in socialmedia market to grow from 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 AItechnology for various applications in the social media sector and utilizationof AI-enabled smartphones are expected to drive the growth of the AI in socialmedia market.
Browse 83market data Tables and 58 Figures spread through 179 Pages and in-depth TOC on"AI in Social Media Market by Technology (Deep Learning & Machine Learning, and NLP),Application (Sales & Marketing, Customer Experience Management, andPredictive Risk Assessment), Component, Enterprise Size, End-User, and Region -Global Forecast to 2023"
The major AI in social media vendorsinclude 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).
North America is expected to be themajor revenue contributor to the AI in social media market. This region is saidto be the first region to experience the benefits of AI in social media technologies.The North American region also houses the major market players, and is open totechnology-related innovations. Asia Pacific (APAC) is expected to witness thefastest growth rate in the AI in social media market during the forecastperiod, due to an increase in the number of internet and smartphone users inthe APAC region. The emerging APAC economies, such as China and India, haveseveral untapped and unexplored opportunities for social media enterprises inthe AI in social media market.
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On the basis of services, the AI insocial media market is broadly classified into support and maintenance, systemintegration, and training. Among these, the support and services segment isexpected to grow at the highest CAGR during the forecast period, as theseservices offer end-to-end effective implementation, starting from requirementgathering to user training.
Among components, the solutionssegment is divided into software tools and platforms. Among these, the softwaretools segment is expected to grow at a higher CAGR during the forecast period.This high growth is attributed to the fact that these software tools are usedto develop and deploy AI-enabled solutions in the social media sector.
Based on enterprise size, the AI insocial media market is segmented into Small and Medium-sized Enterprises (SMEs)and large enterprises. The SMEs segment is expected to have the larger marketsize and grow at a higher CAGR during the forecast period. The adoption of AIin social media solutions by SMEs in the APAC region is expected to increase ata rapid pace. The increasing demand for the integration of the AI technology inthe social media sector is expected to have accelerated the growth of the SMEs.
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