Northbrook, IL -- (SBWIRE) -- 09/10/2018 -- The artificial intelligence (AI) in marketing market is expected to be valued at USD 6.46 billion in 2018 and is likely to reach USD 40.09 billion by 2025, at a CAGR of 29.79% during the forecast period.

Growth in the adoption of customer-centric marketing strategies, increase in demand for virtual assistants, and increased use of social media for advertising are the major factors driving the demand for AI-based marketing and sales solutions.

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Customers continuously seek better services and products, and companies try to achieve a model that makes both these requirements attainable without much investment. AI is gaining momentum owing to its agile structure, which offers a high level of satisfaction and customer retention. AI systems offer fast response, tailored approach, highly accurate information, and fewer redundancies—all of which are the key factors to enhance customer experience. Moreover, AI combines data from multiple resources and uses it as a database, which ultimately results in accurate predictions about consumer needs.

The AI in marketing market for hardware is expected to grow at a high CAGR between 2018 and 2025. The growth of the market can be attributed to the increasing need for hardware platforms with high computing power to run various machine learning algorithms. The market for cloud deployment is likely to grow at the highest CAGR between 2018 and 2025. Several businesses have already moved part of their operations to the cloud, which has encouraged vendors to develop cloud-based solutions. Migrating to the cloud has benefits such as enhanced flexibility, control, and scalability. Cloud deployment significantly reduces the capital investment required to implement AI-based solutions for marketing and sales; this is one of the major reasons for the increased demand for cloud-based solutions from most enterprises.

Machine learning's ability to collect and handle big data, along with its increased ability to perform previously impossible calculations, is fueling the growth of the market for machine learning. The AI in marketing market for virtual assistant is likely to grow at the highest CAGR during the forecast period. Virtual assistants are increasingly being used for sales purposes as they are designed to increase productivity and eliminate time-consuming lead generation activity, thus allowing salespeople to focus on other productive parts of the job.

The AI in marketing market for the consumer goods industry is expected to grow at a high CAGR during the forecast period. Consumer goods trends are changing owing to the ability to use AI to collect data, interact with customers, capture images, and more—many of these changes are creating a permanent impact on customer expectations for retail interactions. The AI in marketing market in APAC is expected to grow at the highest CAGR between 2018 and 2025. This growth can be attributed to the adoption of AI services in end-user industries such as retail, BFSI, enterprise, and media and advertising in countries such as Japan, China, Australia, and South Korea.

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