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.
The key strategies adopted by most companies in the AI in marketing market include product launches, expansions, partnerships and collaborations, and acquisitions. Product launch was the most preferred strategy by players in the AI in marketing market between 2016 and 2017. Xilinx (US), Amazon.com (US), NVIDIA (US), Facebook (US), and Samsung Electronics (South Korea) are some of the leading players that adopted this strategy to achieve growth in the AI in marketing market.
NVIDIA held the first position in the AI in marketing market for hardware in 2016. It is one of the global leaders in the visual computing business. The company has a well-established geographic footprint and mainly deals with major OEMs and ODMs worldwide. NVIDIA makes substantial investments in R&D. In October 2017, NVIDIA launched NVIDIA GPU Cloud (NGC) container registry for AI developers worldwide. In just a few steps, NGC helps developers get started with deep learning development through no-cost access to a comprehensive, easy-to-use, fully optimized deep learning software stack. The cloud-based service is available immediately to the users of Amazon Elastic Compute Cloud (Amazon EC2) P3 instances featuring NVIDIA Tesla V100 GPUs. NVIDIA has plans to expand support to other cloud platforms soon.
Alphabet was ranked first in the AI in marketing market for solutions in 2016. Alphabet is a global technology company offering search engine, advertising, operating systems and platforms, enterprise, and hardware products. Alphabet has been investing continuously in machine learning to build new AI products and solutions, which can be improved over time and be more useful in the manufacturing domain. In June 2017, Alphabet and SAP formed a partnership to develop and integrate Google’s best cloud and machine learning solution with SAP enterprise applications. This partnership would help developers get the benefit of SAP’s in-memory database that runs on Google Cloud Platform, allowing developers to store and index data in SAP HANA.
Artificial Intelligence in Marketing Market by Offering (Hardware, Software, Services), Technology (Machine Learning, Context-Aware Computing, NLP, Computer Vision), Deployment Type, Application, End-User Industry, and Geography - Global Forecast to 2025
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