Press Release / Technology / AI in Social Media Market Overview, Growth, Opportunities and Development 2023

AI in Social Media Market Overview, Growth, Opportunities and Development 2023

The report on the global AI in Social Media market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player’s market share analysis, competitive landscape and supply chain analysis.

Market Highlights:

The ever-changing environment of social media platforms is making it harder for the companies to excel, which is why they are switching to AI-based technologies that help them analyze everything on the social media in real-time and convert information into tangible data for further use. Worldwide AI in social media market is expected to grow from USD 0.5 billion in 2017 to USD 2.6 billion by 2023, at a compound annual growth rate (CAGR) of 28.6% during the forecast period. The increasing adoption of the AI-based technologies for various applications in the social media sector and the utilization of AI-enabled smartphones are expected to drive the growth of AI in social media. On the other hand, limited number of AI experts and slow digitization rate are affecting the adoption of the AI technology in the emerging economies, restraining the growth of this market. North America is expected to have a large market share and will dominate the market during the forecast period.

The US is one of the biggest markets for AI-based solutions, the enterprises and governments have adopted AI in social media for providing better customer experience. Also, the Asia-Pacific is the fastest growing region due to the increasing social media users in this region, and the adoption of sales and marketing applications is expected to increase at a rapid pace, due to better customer services.

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Major key Players

Salesforce (US),
Google (US),
Facebook (US),
AWS (US),
IBM (US),
Adobe Systems (US),
Baidu (China),
Twitter (US)
Snap (US).
Other emerging players in the AI Social Media market are 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).

According to MRFR, The global AI in social media market is expected to reach approximately USD 2.6 Billion by 2023 growing at a ~28.6% CAGR over the forecast period 2018-2023.

Industry Updates

On March 2018, A global leader in enterprise social analytics, NetBase, had announced its next-generation AI image analysis capabilities. The company’s next-generation AI analyzes visual posts, in order to recognize keywords and brand logos and provide the most comprehensive view regarding the performance of a brand.

Market Potential and Pitfalls

The AI in social media market is estimated to experience a sturdy growth rate with the increased adoption of AI-based technologies for several applications in social media coupled with the rising use of AI-enabled smartphones. With the ever-rising number of users on social media along with their active online behavior, the global AI in social media platform is considered to flourish throughout the appraisal period. Maximizing user data is the key concern of any company in AI in social media market. AI creates new market opportunities for the same. AI collects and analyzes data efficiently to maximize user experience besides increasing revenue opportunities. Social media market leaders extensively use AI for predictive measures for solving issues as fast as possible as well as for user behaviors. Social networks are looking forward to more intelligent and evolved systems which will help to facilitate the processing of huge volumes of data. Moreover, major players in the market are highly concentrating on research and development activities, which is further estimated to propel the market growth across the globe. For instance, DeepMind is considered as one of the start-ups by Google. The company specializes in building algorithms for health, e-commerce, and several other applications.

On the contrary, slow digitization and a limited number of AI experts are highly affecting the adoption of AI technology, thereby restraining the growth of the market. Despite such hiccups, a booming number of influencers on social media, augmenting the volume of unstructured data, and a growing number of requests for service through social channels are likely to intensify the demand of AI in social media.

Segmentation:

By technology, the market is segmented into machine learning, deep learning and natural learning process (NLP).

By application, the market is segmented into sales and marketing, customer experience management, predictive risk assessment, and others.

By component, the market is segmented into solutions and services.

By enterprise size, the market is segmented into large enterprise and SME.

By end-user, the market is segmented into retail and ecommerce, banking, financial services, and insurance (bfsi), media and advertising, education, public utilities, others.

Regional Analysis:

Geographically, the AI in social media market span across Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).

Among all the regions, North America is presumed to dominate the global market in terms of revenue. The growth is attributed to the presence of market giants, availability of high government funding, and strong technical adoption base in this region. Also, the outburst of cloud-based services in economies such as Canada and the U.S. are contributing to the growth of the market in this region.

Asia Pacific is considered to register the fastest growth rate owing to the increased penetration of smartphones coupled with healthy expansion of social media U.S.er base. This region is also experiencing growing demand for cloud-driven solutions which is further resulting in the rising investment and advancements in the media & advertisements and retail & e-commerce sectors.

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Intended Audience

Application providers
System integrators
Consultancy firms
Service providers
Data integration service providers
Managed services providers
Artificial intelligence developers
LIST OF TABLES

Table 1 Global AI in Social Media Market, by Region, 2018–2023

Table 2 North America: AI in Social Media Market, by Country, 2018–2023

Table 3 Europe: AI in Social Media Market, by Country, 2018–2023

Table 4 Asia-Pacific: AI in Social Media Market, by Country, 2018–2023

Table 5 Middle East & Africa: AI in Social Media Market, by Country, 2018–2023

Continued……

LIST OF FIGURES

FIGURE 1 Global AI in Social Media Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of Global AI in Social Media Market

FIGURE 4 Value Chain of Global AI in Social Media Market

FIGURE 5 Share of Global AI in Social Media Market in 2017, by Country

Continued……

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