AI in the Social Media Market Scope

Global AI-In-Social-Media Market Size, Forecast, and Trend Highlights Over 2022 - 2031

The global AI-in-social-media market is estimated to garner a revenue of approximately USD 16.0 billion by the end of 2031 by growing at a CAGR of ~29% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of about USD 1.0 billion in the year 2021. The unprecedented growth in social media users is the primary factor affecting the development of the global AI-in-social-media market. With about 5 billion users worldwide, approximately 60% of the world uses social media, as per data compiled at the beginning of 2022.

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Artificial intelligence in social media has the potential to transform how brands market on platforms such as TikTok, Snapchat, Facebook, Instagram, Twitter, and LinkedIn. The major benefit of AI in social media is that it helps to understand the changes in the behavior patterns of the users. On the other hand, it serves as a barrier between consumers and marketers. It cannot rule out the fact, that different social media platforms use AI algorithms to rank and recommend content to users based on their previous content engagement. Thus, considerable growth in social media directly implies a growing AI-in-social-media market trend. More than 400 million of the general population joined social media in 2021-2022. This figure reflects a growth of about 25% in the total number of social media users in this period.

Global AI-In-Social-Media Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Consumer Awareness with the Onset of COVID-19 – The pandemic has had an immense impact on consumer awareness globally. Moreover, this increased consumer awareness calls for marketers to market as per consumers' preferences. It has been observed that about 80% of consumers have a shift in their purchase preferences based on social responsibility, inclusiveness, and environmental impact.

• Increase in the Standard of Living in Developing Countries – With the gradual increase in the quality of life, there has been a steady growth in the number of people using the internet in developing countries. Moreover, customers are showing more loyalty toward brands owing to artificial intelligence technology. Hence, this is expected to drive the growth of the global AI-in-social media market. As per World Bank data, the percentage of the total population using the internet in low and middle-income countries grew to 54% in 2020 from 33% in 2015.

• Considerable Internet Penetration World Wide – The increase in internet users has resulted in more people opting for artificial intelligence in different sectors. This is anticipated to drive the growth of the global AI-in-social media market. As of 2022, the number of internet users and social media users worldwide is more than 4 billion.

• Efficient Use of AI for Digital Marketing– AI is a blessing for digital marketers for many reasons, such as helping marketers recognize their potential customers to create personalized ads. All these uses of AI in digital marketing point to a high demand for global AI-in-social-media market growth. For instance, it makes the whole digital marketing process easier by about 37%.

• Increased Use of AI in Chatbots by Different Organizations for Customer Service – Chatbots make it possible to provide seamless live communication and customer service day and night. It saves time and money for the marketer and ensures a smooth consumer journey by reducing consumer stress. It has been estimated that about 90% of companies find chatbots useful for personalized consumer interaction. Additionally, over 60% of consumers prefer a conversation with a chatbot to a human.

Challenges

• Lack of AI Experts

• Relative Scarcity of Data or Non-availability of Quality Data

• Worldwide Breach of Data and Identity Theft

The global AI-in-social-media market is segmented and analyzed for demand and supply by technology into deep & machine learning and NLP. Between these two segments, the deep & machine learning segment is anticipated to hold the largest market size by the end of 2031. Machine learning is the direct subset of AI, whereas deep learning is a kind of machine learning. The application of machine learning is as diverse as in internet search engines, websites making personalized recommendations, email filters sorting out spam, and banking software detecting unusual transactions. The use of deep learning can be observed in tools like image recognition tools, voice recognition software, and NLP. Two common examples of the application of these tools are self-driving cars and language translation services. It has been observed that more than 95% of all internet users rely on traditional search engines at least once a month. Additionally, close to 95% of web traffic is through search engines. Similarly, close to 46% of email traffic in December 2021 was spam messages, warranting the use of email filters. About 56% of small business owners believe in owning fully autonomous fleets in two decades. Thus, with expanding applications, the development of the deep and machine learning segment is inevitable.

Global AI-In-Social-Media Market Regional Synopsis

Regionally, the global AI-in-social-media market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2031 on the back of the growing consumer base of social media in this region.  As of 2022, approximately 2 billion people are to access social media at least once a month in the Asia Pacific region, thus constituting about 60% of the global population. It is also estimated that, by 2025, approximately 68% of Asia Pacific ad revenue will be spent on digital marketing. These, along with the significant investments made in AI technology in the Asia Pacific by tech leaders, drive the growth of the global AI-in-social-media market.

Market Segmentation

Our in-depth analysis of the global AI-in-social-media market includes the following segments:

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Key Companies Dominating the Global AI-In-Social-Media Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global AI-in-social-media market that are included in our report are Google LLC (Alphabet Inc.), Meta Platforms, Inc., Amazon Web Services, Inc., IBM Corporation, Adobe Inc., Baidu, Inc., Salesforce, Inc., Twitter, Inc., Snap Inc., Clarabridge, Inc., and others.

Global AI-In-Social-Media Market: Latest Developments

• July, 2022: Amazon Web Services, Inc. - announced the general availability of a new managed AWS Cloud WAN that connects on-premises data centers, branch offices, colocation facilities, and cloud resources to facilitate operating a global network. Additionally, AWS has integrated with leading network appliances, SD-WAN, and independent software vendors like Aviatrix, Aruba, Checkpoint, Cisco Systems, Cisco Meraki, Prosimo, and VMware to make it more comfortable for customers to link their on-premises SD-WAN devices to AWS.

• April, 2022: Salesforce, Inc. - introduced new marketing cloud and service features powered by AI and trusted data to humanize customer interactions. The initiative is in response to a 2022 survey involving 3,916 business buyers and 13,020 consumers worldwide, in which 88% of customers regarded the experience provided by companies as significant as their products and services. The innovations include service cloud innovations, field service innovations, and marketing cloud innovations.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

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Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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