Global Artificial Intelligence in Personalized Marketing Market Size, Share & Trends Analysis Report, By Target Audience, by Industry , by Application, by Market Channel, By Region Forecasts, 2024 - 2032

Global Artificial Intelligence in Personalized Marketing Market Size, Share & Trends Analysis Report, By Target Audience, by Industry , by Application, by Market Channel, By Region Forecasts, 2024 - 2032

Global Artificial Intelligence in Personalized Marketing Market was valued at US $ 12.4 Billion in 2023 and is expected to reach US $ 93.98 Billion by 2032 growing at a CAGR of 22.5% during the forecast period 2024 – 2032.

The field that includes the implementation and application of artificial intelligence technology and solutions to improve and tailor marketing strategies on a per-customer basis is known as the ""market for AI in personalised marketing."" In this sector, companies examine large databases using AI algorithms and data analytics to learn about the unique preferences, actions, and interactions of each customer. Developing and executing highly customised and targeted marketing strategies that appeal to particular consumers is the main objective. This entails customising advice, information, and marketing initiatives to each customer's specific requirements and interests. Retail, e-commerce, banking, and other industries are among those where AI is being used in personalised marketing. This is because organisations are realising how important it is to use AI skills to maximise consumer engagement, satisfaction, and overall marketing efficacy.

The growing market for artificial intelligence (AI) in personalised marketing is fuelled by consumers' increasing desire for tailored experiences. Businesses are using artificial intelligence (AI) to analyse large datasets and get insights into customer preferences, behaviours, and purchase patterns as a result of consumers' increasing expectation and prioritisation of personalised interactions with companies. Businesses can create highly personalised and engaging experiences that engage with every customer by utilising this data, strengthening relationships and encouraging brand loyalty. In addition to customising content distribution through predictive analytics, AI-driven personalisation raises customer happiness since consumers value companies that recognise and address their particular demands. Revenue growth and higher conversion rates are the results of further improving efficiency through the optimisation of client journeys across multiple touchpoints. Businesses understand that AI is a vital tool for getting a competitive edge in the fiercely competitive landscape by providing the customised experiences that set them apart and satisfy the changing needs of contemporary consumers.

“B2B segment, by target audience, to be dominating market from 2023 to 2030.”

Because they entail high-value transactions and have complex sales cycles, B2B sectors hold a 58.91% market share in the segment. AI's ability to personalise and streamline processes greatly reduces the complexity of B2B interactions. It does this by using techniques like account-based marketing to customise communications and content to each business client's specific needs. Complex B2B transactions are made successful in part by this versatility.

“Retail segment, by industry, to be dominating market from 2023 to 2030.”

With a 37.2% market share, retail is a market leader and is using AI technology to improve in-store purchasing. With the help of AI, traditional retailers have created a customised environment for their customers by providing targeted promotions, personalised recommendations, and optimised in-store layouts. Adopting omnichannel tactics, which use AI to provide a coherent and consistent personalised marketing experience across online and physical channels, complements this strategy.

“Email marketing segment, by market channel, to be dominating market from 2023 to 2030.”

With a 44% market share, email marketing is in the lead because to its reputation as a direct and individualised contact channel. Businesses use email campaigns to send personalised information, promotions, and suggestions, boosting client engagement on a personal level. They have a plethora of experience with focused communications. Email marketing is made even more effective by using AI through sophisticated automation that makes it possible to personalise content and optimise campaign performance using insights from AI.

“Product Recommendation segment, by application, to be dominating market from 2023 to 2030.”

Product recommendations hold a prominent position in the AI personalised marketing market, holding a 32.57% market share. This is attributed to its capacity to improve consumer engagement, boost sales, and cultivate customer loyalty. Product recommendation systems use advanced artificial intelligence (AI) algorithms to evaluate the unique behaviours and preferences of each client and provide recommendations that are specifically designed to improve the user experience. These recommendations are a mainstay of customised marketing tactics because of their ability to increase revenue, take advantage of upselling and cross-selling opportunities, and foster enduring client loyalty.

“North America to be largest region in Artificial Intelligence in Personalized Marketing market.”

With a significant 38% market share in 2023, North America continues to establish itself as the leading region in the AI in personalised marketing market. Numerous factors have contributed to this leadership position, such as the early adoption of AI technologies by local firms, the strong presence of key AI vendors, and the abundance of highly qualified AI specialists. Silicon Valley and other IT clusters in the area help to lead the way in AI-driven personalised marketing solutions.

Artificial Intelligence in Personalized Marketing Competitive Landscape

The competitive landscape of the Artificial Intelligence in Personalized Marketing market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Artificial Intelligence in Personalized Marketing technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Artificial Intelligence in Personalized Marketing market is highly competitive, with numerous companies vying for market share. Prominent companies in the Artificial Intelligence in Personalized Marketing Market include:

Adobe, Facebook, Apple, IBM, Google, NVIDIA, Amazon, Intel, Microsoft, SAP, Adobe Target, Oracle, Salesforce, Salesforce Einstein, Oracle Marketing Cloud, IBM Watson Customer Engagement, SAP Customer Data Cloud, Adobe Sensei, MICROSOFT DYNAMICS 365 CUSTOMER INSIGHTS, Google Cloud AI, Microsoft Azure Cognitive Services, IBM Watson AI, and others.

Recent developments:

Salesforce, a pioneer in global customer relationship management, released two new generative AI products in June 2023: Marketing GPT and Commerce GPT. Marketing GPT gives marketers the ability to automate marketing journeys, create personalised emails with ease, and improve audience segmentation. Moreover, companies can offer distinctive purchasing experiences and personalised offers in response to particular client choices thanks to GPT-enabled dynamic buying journeys.

To help business clients fully utilise AI, consulting company Bain & Company teamed up with OpenAI in February 2023. The Coca-Cola Company intends to work together to provide customised messages, photos, and content for advertising by utilising OpenAI's ChatGPT and DALL-E platforms.

In 2023, prominent IT companies achieved notable progress in improving customer-centric approaches. On January 10, Adobe and Microsoft jointly announced the combination of Adobe Target and Microsoft Dynamics 365 Customer Insights, enabling companies to obtain more in-depth understanding of their clientele for more customised marketing campaigns.