The increasing need for understanding consumer needs & market trends is propelling the growth of the artificial intelligence (AI) in social media market.
New York, NY -- (SBWIRE) -- 07/15/2019 -- Market Size – USD 650.2 Million in 2018, Market Growth - CAGR of 24.9%, Market Trends – Extensive adoption of smartphones.
The global artificial intelligence (AI) in the social media market is forecast to reach USD 4.11 Billion by 2026, according to a new report by Reports and Data. The increasing need for understanding consumer needs and market trends is one of the major factors driving the market growth. Moreover, extensive adoption of smartphones, along with the popularity of social media, will also boost the growth of the market in the coming years.
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Leveraging social media through artificial intelligence, help companies to understand better the customers' buying behavior, which helps them to market related products more. Organizations can personalize the content for their customers by following the buying habits, people's everyday environments, and what influences them to make their decisions with the help of AI at a faster rate than any human. AI, along with machine learning algorithms, can analyze everything that is happening on social media in real time and convert the information to actual data for marketers to utilize. AI examines data and makes suggestions based on its findings.
For instance, Facebook uses deep learning, which can recognize the context of the videos, and images which are repeatedly shared by the users. By analyzing the contents of that media through metadata and text, deep learning method produces insights which help in explaining the frequency of occurrences of products, simultaneously with these videos and images. This helps them in placing ads for the people who might like to watch the videos related to those products.
Further key findings from the report suggest
- Among the technologies, machine learning and deep learning technologies accounted for a larger market share of ~63% in the year 2018. Deep learning gives more accurate and quality results, along with both time and cost consumption benefits.
- On the other hand, machine learning comes with a wide range of applications across several industries, such as banking and financial sector, healthcare, retail, publishing, and social media, among others. It is used to analyze the relevance of advertisements and contents based on users' preferences.
- The services segment is forecasted to witness a higher growth rate of 25.7% during the forecast period. Artificial Intelligence services for social media enables marketers to overcome several difficulties with integrating this emerging technology into their operational processes.
- The small and medium-sized organization is forecasted to witness a higher growth rate of 26.6% during the forecast period, due to the rapid adoption of social media by these firms to promote their products and services.
- The predictive risk assessment application is anticipated to witness the highest CAGR of 26.3% during the forecast period, attributing to the ability of artificial intelligence solutions to identify potential risks and fraud by analyzing the data about consumers' behavior and needs.
- Key participants include Facebook, Google, IBM, AWS, Baidu, Adobe Systems, Twitter, Salesforce, Clarabridge, Snap, Sprinklr, Converseon, ISentium, Unmetric, Netbase, Cluep, Synthesio, Spredfast, Hootsuite, Crimson Heaxagon, Vidora, Sprout Social, Meltwater, and Talkwalker, among others. The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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For the purpose of this report, Reports and Data have segmented into the global artificial intelligence (AI) in social media market on the basis of technology, component, applications, organization size, industry vertical, and region:
Technology Outlook (Revenue, USD Million; 2016-2026)
- Machine Learning and Deep Learning
- Natural Language Processing
Component Outlook (Revenue, USD Million; 2016-2026)
o Support and Maintenance
o System Integration
Organization Size Outlook (Revenue, USD Million; 2016-2026)
- Small and Medium-Sized Enterprises
- Large Enterprises
Applications Outlook (Revenue, USD Million; 2016-2026)
- Sales and Marketing
- Customer Experience Management
- Image Recognition
- Predictive Risk Assessment
o Competitive Intelligence
o Fraud Detection and Prevention
o Public Safety and Law Enforcement
Industry Vertical Outlook (Revenue, USD Million; 2016-2026)
- Retail and eCommerce
- Banking, Financial Services, and Insurance
- Media and Advertising
- Public Utilities
Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/artificial-intelligence-ai-in-social-media-market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
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