AI in Social Media Market Advancement and Growth Analysis with Forecast to 2023

Posted by Ehtesham Peerzade on November 24th, 2020

Market Highlights

Social media has become a part of the nearly entire population of the world. This has increased the data production that is converted or sorted into useful data. Artificial intelligence (AI) in social media helps filter this data in real-time and converts it into useful information, which is compiled for usage. Advertising through social media is the fastest and most effective way to promote the brand or a product, which has increased the demands for AI in social media market and is growing at a continuous pace.

The incorporation of AI-based technologies is expected to create a strong base for its use in social media platforms. Reports that judge the information and communication technology industry has been offered by Market Research Future, which generates reports on industry verticals that judge the market development and possibilities. The earning potential of the market is expected to be expanded to USD 2.6 billion by 2023 due to a CAGR of 28.6 % in the forecast period.

The use of machine learning technology is expected to create a huge impetus for the growth of the AI in social media market. The popularity of deep learning and machine learning is expected to spill over and contribute to the rise of AI in social media in the upcoming period.

Segmentation:

The global AI in social media market is segmented into classes as follows:

The global AI in social media market is categorized as machine learning, deep learning, and natural language processing (NLP) based on technology.

The global AI in social media market is categorized as solutions and services based on components.

The global AI in social media market is categorized into sales & marketing, predictive risk management, and others based on applications.

The global AI in social media market is categorized among small & medium enterprises (SMEs) and large enterprises based on enterprise size.

The global AI in social media market is divided among banking, financial services and insurance (BFSI), education, media & advertising and others based on end-users

Detailed Regional Analysis   

The regional appraisal of the AI in social media market consists of regions such as North America, the Middle East, Europe, Asia Pacific, Latin America, and the rest of the world. The North American region powers the AI market in terms of returns, owing to the comfort of use of elevated government assistance, the prevalence of primary companies in the region, and a strong technical user base. Moreover, the surge of cloud-based services in countries, such as the US and Canada, is substantially adding to the regional market development. The Asia Pacific region is projected to gain the quickest growth in the AI in social media market in the forecast period. This healthy progress can be attributed to the strong extension of the social media user base and surge in smartphone penetration. Also, the APAC region is seeing an upsurge in demand for the cloud-driven solutions for AI in social media, therefore directing to the amplified investments and development in retail e-commerce, media, and advertising segments.

Competitive Analysis

The high-growth aspirations currently in place are inspiring a profound level of development in the market. Moreover, the companies are also well equipped to effectively implement their growth strategy over the long term. As the companies are making their customers an important focal point for strategy formulation, they are creating a strong competitive advantage in today’s turbulent market. The strategic intent in the market of players is enhancing the operations in the market overall. Furthermore, the market leaders are considering streamlining all aspects of operations at a macro and micro level in the global market. The fastest-growing companies are initiating a dramatic growth phase in the market in recent times. The extensive set of capabilities developed by market players is aiding in accelerating and delivering sustainable growth. The market competitors are making decisions that are improving business performance and supervise risk. The change in the way consumers interrelate with market companies is also opening up new business models.

The major contenders in the AI in Social Media market are Facebook (US), AWS (US), IBM (US), Adobe Systems (US), Hootsuite (Canada), Baidu (China), Twitter (US), Snap (US), Clarabridge (US), Converseon (US), Sprinklr (US), Unmetric (US), ISentium (US), Cluep (US), Salesforce (US), Netbase (US), Spredfast (US), Synthesio (US), Google (US), Crimson Heaxagon (US), Sprout Social (US), Vidora (US), Meltwater (US), and Talkwalker (Luxembourg).

Browse Complete Report @ https://www.marketresearchfuture.com/reports/ai-in-social-media-market-6089