According to a new report, published by KBV research, The Global Generative AI In Marketing Market size is expected to reach $19.1 billion by 2030, rising at a market growth of 34% CAGR during the forecast period.
The Software segment lead the Market by Component in 2022, achieving a market value of $11.6 billion by 2030. The software component develops cutting-edge conversational chatbot platforms that use generative AI and natural language processing to allow real-time client interactions. On the services front, providers offer chatbot design and training services to ensure that these AI-powered systems match the voice of a business and its customer demands. By offering human-like dialogues and professional services that improve the chatbot's performance, this trend enhances the customer experience.
The Text Models segment is showcasing a CAGR of 33.1 % during the forecast period. An emerging trend in the text model segment of the generative AI in marketing market is the development of enhanced Natural Language Generation (NLG) systems for content production. NLG models are becoming more advanced and capable of generating well-crafted written content, including articles, product descriptions, and social media postings. With the help of this development, marketers can quickly create a variety of content while conserving time and resources and ensuring that their message is consistent across all platforms.
The Content Generation segment dominated the Global Generative AI In Marketing Market by Application in 2022, achieving a market value of $4.7 billion by 2030. Generating video scripts and storyboards is a growing trend in generative AI for content development. AI-powered platforms can evaluate marketing objectives and product specifics, producing narratives and visual story structures for promotional videos. This innovation accelerates video production by providing a basic framework for content generation, allowing marketers to focus on implementation and creative aspects.
The Retail & E-commerce Segment is growing at a CAGR of 32.7 % during the forecast period. As the demand for personalized purchasing experiences increases, generative AI is transforming the retail and E-commerce industries. AI-powered systems analyze consumer preferences, previous buying habits, and web browsing behaviors to create customized product recommendations and shopping ideas. This change enhances consumer interaction, increases conversion rates, and fosters brand loyalty by providing customized shopping paths.
The North America Region dominated the Global Generative AI In Marketing Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.8 billion by 2030. The Europe region is anticipated to grow at a CAGR of 33.5% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 34.9% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/generative-ai-in-marketing-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Adobe, Inc., Amazon Web Services, Inc. (Amazon.com, Inc.), Genie AI, Inc., Google LLC (Alphabet Inc.), IBM Corporation, Microsoft Corporation, MOSTLY AI Solutions MP GmbH, Synthesis AI, Inc., Paige AI, Inc. and Rephrase.ai
By Component
By System Type
By Application
By End-use
By Geography
Companies Profiled
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