The Global Artificial Intelligence (AI) in Social Media Market size is expected to reach $6.7 billion by 2029, rising at a market growth of 28.2% CAGR during the forecast period.
AI is commonly used by social media sites to improve user experience, develop content, target advertisements, and offer better services. Additionally, AI is frequently used in social media for trend monitoring, fraud detection, image and video identification, and personalized content recommendations. These are but a few instances of how AI is used for social media use. In order to give users even better experiences, new applications are continually being created that use AI in social media.
The market is expanding due to the increasing use of AI in social media applications for efficient advertising and its rising popularity for providing real-time data on target audiences. Additionally, the market for artificial intelligence in social media is expanding due to a boom in data created through social media platforms. On the other hand, it is projected that the growing accessibility of social media machine-learning programs will create a wide range of prospects for market growth throughout the projection period.
Furthermore, the development of artificial intelligence in the social media industry has greatly improved the platforms' digital capabilities. For social media posts, AI may create text, photos, and videos, as well as curate already-existing content. AI-powered tools, for instance, enable users to produce unique graphics and movies for social networking sites.
AI systems can evaluate user data to produce tailored advertising and content recommendations. AI is used by social media companies to customize user feeds based on preferences and interests. AI can examine social media data to comprehend and classify user sentiments regarding particular subjects or companies. This aids marketers and companies in learning about the interests and behavior of customers.
In the social media sector, artificial intelligence (AI) has benefited from the COVID-19 outbreak. This is a result of the growing popularity of the work-from-home model, which forces businesses to use social media with AI. As a result, the application of AI in the social media market has been significantly impacted by this factor. The market experienced growth during the pandemic and is predicted to continue growing after COVID-19 due to the rising consumer adoption of e-commerce and online shopping brought on by the increasing internet and smartphone penetration and the growing industry adoption of AI in social media.
The increasing number of individuals utilizing social media platforms has sparked the attention of technology companies to implement AI services, ultimately propelling the expansion of AI in the social media market. In addition, numerous businesses across various industries, including consumer brands, retailers, and automotive companies, utilize various social media platforms to advertise and enhance their products and brand recognition. This will assist businesses in marketing their portfolio and expanding their reach to a wider audience. Hence, the increased reach of businesses with AI in social media and the rising usage of social media for advertising is expected to surge the market growth.
Organizations can utilize social media data to gather extensive information about their markets and customers and streamline marketing and operational tasks through automation. Utilizing AI in social media platforms can enhance a company's presence and provide a competitive advantage by efficiently analyzing competition and customer behavior. In addition, AI technology offers a range of applications in social media, including customer experience management, performance monitoring, sales and marketing management, and workforce management. These factors are expected to provide various advantages to organizations and thus drive market growth.
The incorporation of AI solutions into pre-existing computer systems is a challenging endeavor that necessitates the use of voluminous amounts of data processing in order to simulate the operation of a human brain. Even very trivial mistakes can bring about the collapse of a whole system or the malfunctioning of a particular solution, which can have a significant impact on both the conclusion and the result that was intended. Artificial intelligence (AI) technology is still in the early stages of its product lifecycle since there is a shortage of workers who have an in-depth understanding of this technology. Thus, it is anticipated that the lack of AI experts to implement such tools will restrict the market growth throughout the forecast period.
Based on technology, the artificial intelligence (AI) in social media market is segmented into machine learning & deep learning and natural language processing (NLP). The natural language processing (NLP) segment acquired a significant revenue share in the artificial intelligence (AI) in social media market in 2022. This is due to the fact that natural language processing (NLP) makes it possible to automatically extract and identify the sentiment that is being transmitted in text data. This is frequently more accurate and trustworthy than human annotation, which is why NLP is becoming increasingly popular in social media.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market is Acquisitions & Merger.
On the basis of application, the artificial intelligence (AI) in social media market is divided into sales & marketing, customer experience management, predictive risk assessment and image recognition. The sales & marketing segment held the highest revenue share in the artificial intelligence (AI) in social media market in 2022. This is owing to the various benefits of AI in social media marketing, like increasing user engagement. AI allows greater performance data and smarter marketing with refined content targeting. It also aids in decreasing marketing expenses and provides greater ROI. AI increases sales and marketing production and efficiency while enabling simplified management and marketing procedures.
By enterprise size, the artificial intelligence (AI) in social media market is classified into large enterprises and small and medium enterprises (SMEs). The large enterprises segment witnessed the largest revenue share in the artificial intelligence (AI) in social media market in 2022. This is because there is an abundance of resources and experience that can be utilized to develop and put into practice advanced AI solutions. Additionally, in order to boost their social media presence, increase customer interaction, and gain a competitive edge in the industry, large organizations are making significant investments in artificial intelligence.
Based on the industry vertical, the artificial intelligence (AI) in social media market is bifurcated into BFSI, IT & telecom, retail & e-commerce, media & advertisement, education and others. The IT & telecom segment recorded a significant revenue share in the artificial intelligence (AI) in social media market in 2022. This is due to their usage to handle customers' problems at a scale that is inconceivable for human agents. The artificial intelligence algorithms that power customer communication need to process enormous volumes of historical data and real-time interactions. In addition, virtual assistants or chatbots are frequently used as the interface for customer support solutions that are powered by artificial intelligence.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 1.2 Billion |
| Market size forecast in 2029 | USD 6.7 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2029 |
| Revenue Growth Rate | CAGR of 28.2% from 2023 to 2029 |
| Number of Pages | 318 |
| Number of Table | 473 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Technology, Enterprise Size, Application, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, artificial intelligence (AI) in social media market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region led the artificial intelligence (AI) in social media market by generating the maximum revenue share in 2022. This is due to the high usage of social media platforms in North America, coupled with the region's significant internet penetration, which has increased demand for AI-powered social media tools. In addition, the prompt integration of cutting-edge technologies and growing corporate expenditures aimed at optimizing customer experience via artificial intelligence are driving the market's expansion in the region.
Free Valuable Insights: Global Artificial Intelligence (AI) in Social Media Market size to reach USD 6.7 Billion by 2029
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation, and Google LLC (Alphabet Inc.) are the forerunners in the Artificial Intelligence (AI) in Social Media Market. Companies such as Amazon Web Services, Inc. (Amazon.com, Inc.), Adobe, Inc., and Meta Platforms, Inc. (Facebook) are some of the key innovators in Artificial Intelligence (AI) in Social Media Market.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Baidu, Inc., Meta Platforms, Inc. (Facebook), IBM Corporation, Microsoft Corporation, Adobe, Inc., Snap, Inc. (SnapChat), Amazon Web Services, Inc. (Amazon.com, Inc.), Google LLC (Alphabet Inc.), Salesforce, Inc., and Hootsuite, Inc.
By Application
By Technology
By Enterprise Size
By Vertical
By Geography
The Market size is projected to reach USD 6.7 billion by 2029.
Use of AI in social media platforms to analyze trends and achieve a competitive advantage are driving the market in coming years, however, Limited availability of AI experts restraints the growth of the market.
Baidu, Inc., Meta Platforms, Inc. (Facebook), IBM Corporation, Microsoft Corporation, Adobe, Inc., Snap, Inc. (SnapChat), Amazon Web Services, Inc. (Amazon.com, Inc.), Google LLC (Alphabet Inc.), Salesforce, Inc., and Hootsuite, Inc.
The Machine Learning & Deep Learning segment is leading the Market by Technology in 2022 thereby, achieving a market value of $4.1 billion by 2029.
The North America market dominated the Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $2.6 billion by 2029.
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