AI in Social Media Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.10 Billion |
| Market Size (2029) | USD 7.25 Billion |
| CAGR (2024 - 2029) | 28.04 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
AI in Social Media Market Analysis
The AI in Social Media Market size is estimated at USD 2.10 billion in 2024, and is expected to reach USD 7.25 billion by 2029, growing at a CAGR of 28.04% during the forecast period (2024-2029).
Social media has become one of the primary sources of customer intelligence data. With the growth in social media users, the demand for AI solutions to understand customer preferences is projected to increase over the forecast period.
- Integration of artificial intelligence technology with social media for effective advertising and to gain a competitive edge is driving the market. Investing a lot in banking assistants, many institutions now use chatbots with AI interfaces to talk to their clients in the BFSI sector.
- E-commerce companies are leveraging AI technology for personalized product recommendations on social media users' profiles. For example, Amazon's AI-driven product recommendations are built into every step of the buying process.
- Moreover, the increased use of AI tools is projected to boost demand for AI in social media. For instance, in January 2022, Cadbury launched an initiative to allow small business owners to make free advertisements using an AI tool that uses a celebrity's face and voice.
- By gathering data from social media platforms, AI was able to predict the spread of COVID-19 infections, create early warning systems, and provide useful information about sensitive locations as well as predict illness and mortality.
However, AI is a complex technology, and firms need a workforce with specific skill sets to manage, create, and integrate AI systems. For instance, employees working with AI systems should be familiar with technologies such as machine learning and deep learning, cognitive computing, and image recognition. The limited number of AI technology experts is expected to hamper market growth.
AI in Social Media Market Trends
This section covers the major market trends shaping the Artificial Intelligence in Social Media Market according to our research experts:
Retail Industry to Witness a Significant Growth
- The growing social media usage for online shopping and other e-commerce activities is expected to propel the retail segment's growth. Social media platforms are becoming increasingly popular as retail businesses use them to strengthen customer relationships. AI in social media helps retail brands predict marketing trends, make their promotions more effective, rank higher than their competitors, and get other benefits.
- AI makes it possible for the retail industry to offer personalized product suggestions, in-store experiences that are based on data, and image recognition searches through social media posts to find hidden patterns.
- Retailers like Target, Walmart, and others need to use AI to boost sales and customer loyalty because they depend on consumers spending more and face tough competition from e-commerce platforms.
- In July 2022, Google partnered with the H&M Group, a multinational fashion retailer. The firms plan to design and create a corporate data backbone through this partnership, including a core data platform, cutting-edge ML and AI capabilities, and data products.
- Moreover, in March 2022, Microsoft collaborated with ASOS, a British fashion retailer. The firms agreed to collaborate on a new project to accelerate Microsoft's strategic growth ambitions. Furthermore, this collaboration is expected to enable businesses to fulfill the growing demand for improved product availability and seamless and personalized digital experiences.
North America is Expected to Hold Significant Market Share
- In the last few years, the area has been getting better because more money has been put into it to improve AI technology solutions.
- In April 2022, government activities and investments assist market growth. For instance, the Government of Canada declared that it would invest in enterprises and innovative technology. The Federal Economic Development Agency for Southern Ontario, FedDev Ontario, has announced a USD 5.7 million investment in the artificial intelligence (AI) business Canvass Analytics Inc. (Canvass AI).
- The growing investment in AI by various companies is expected to drive AI in the social media market in the region. For instance, in October 2022, Google, a subsidiary of Alphabet Inc., will be in talks to invest around USD 200 million in the Canadian start-up Cohere Inc. The startup in artificial intelligence made a long-term deal with Google to provide processing power for training its software models.
- Social media platforms are one of the first choices for marketing products and services. As a result, end users, such as BFSI, e-commerce, retail, and others, are shifting toward artificial intelligence to bolster their performance on social media channels.
Further, the United States, with an index score of 88.16, is the top-ranked nation worldwide in 2021, according to the government's artificial intelligence (AI) readiness index rankings.
AI in Social Media Industry Overview
The competitive rivalry in market is highly competitive with the dominance of players like Microsoft Corporation, Google LLC, and Amazon Web Services, among others. The market appears to be fragmented. Due to the growing use of AI in social media, significant players are implementing strategies such as partnerships, product innovation, mergers, and acquisitions.
In October 2022, Google Cloud announced a partnership with Snap Inc. (Snap), in which the firm will use Google's data, AI/ML, and analytics technologies to enable Snapchat's development. After working together for more than ten years, Snap will use Google Cloud more to improve the customer experience and offer more customized solutions.
August 2022 - Veritone, Inc., the provider of aiWARE, a hyper-extensive corporate artificial intelligence (AI) platform, announced an expansion of its collaboration with Amazon Web Services (AWS) to better serve its Media & Entertainment (M&E) customers. Veritone joined the AWS for Media & Entertainment program last year, which assisted rights holders, content creators, distributors, and producers in quickly identifying industry-specific AWS capabilities and accelerating transformation across five key industry innovation hubs. By continuing to support the AWS for Media & Entertainment program, Veritone shows that it is still committed to making it easier for IP owners of all sizes to create, distribute, and eventually make money from their content.
July 2022 - Meta, Facebook's parent company, will unveil Sphere, a new AI-powered tool. The tool helps to address and detect misinformation, also known as "fake news," on the internet. Meta claims to be the first [AI] system capable of scanning many citations at once to determine whether they genuinely support the relevant assertions.
AI in Social Media Market Leaders
-
Microsoft Corporation
-
Google LLC
-
Amazon Web Services, Inc
-
Adobe Systems Incorporated
-
Meta
*Disclaimer: Major Players sorted in no particular order
AI in Social Media Market News
- October 2022: Meta announced a collaboration with Microsoft to provide consumers with unique experiences in various sectors, including gaming and the future of work. Microsoft will introduce Microsoft 365 apps to Meta Quest devices as part of this collaboration, allowing individuals to interact with content from productivity programs such as Excel, Word, Outlook, PowerPoint, and SharePoint within virtual reality (VR). It also wants to bring Windows 365 to devices so that users can stream their whole Windows experience, including their own apps, content, and preferences, through a Windows Cloud PC.
- October 2022: Adobe announced new AI features that maximize creativity and accuracy across Creative Cloud products, and Adobe Express, the industry's leading all-in-one tool, allows anyone to make professional-quality, unique content. In addition, Adobe stated its intention to assist creators by leveraging its Content Authenticity Initiative (CAI) to maintain transparency when using generative AI. New AI features in Adobe Express allow Quick Actions for users to immediately compress images and videos for quick social media sharing, discover appropriate color palettes for the maximum visual aspect, and instantly canvas over 22,000 Adobe Fonts for the ideal typeface.
AI in Social Media Market Report - Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Threat of New Entrants
- 4.2.2 Bargaining Power of Buyers/Consumers
- 4.2.3 Bargaining Power of Suppliers
- 4.2.4 Threat of Substitute Products
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Assesment of Impact of COVID-19 on the market
- 4.4 Technology Roadmap
- 4.5 Introduction to Market Drivers and Restraints
-
4.6 Market Drivers
- 4.6.1 Integration of Artificial Intelligence Technology with Social Media for Effective Advertising
- 4.6.2 Increase in User Engagement on Social Media by Using Smartphones
- 4.6.3 Rise in Use of AI in Understanding Market Trends and Gaining Competitive Edge
-
4.7 Market Restraints
- 4.7.1 Limited Number of Artificial Intelligence Technology Experts
- 4.7.2 Low Adoption of AI in Developing Economies
- 4.8 Market Opportunities
5. MARKET SEGMENTATION
-
5.1 Technology
- 5.1.1 Machine Learning and Deep Learning
- 5.1.2 Natural Language Processing (NLP)
-
5.2 Application
- 5.2.1 Customer Experience Management
- 5.2.2 Sales and Marketing
- 5.2.3 Image Recognition
- 5.2.4 Predictive Risk Assessment
- 5.2.5 Other Applications
-
5.3 Service
- 5.3.1 Managed Service
- 5.3.2 Professional Service
-
5.4 Organization Size
- 5.4.1 Small and Medium Enterprises
- 5.4.2 Large Enterprises
-
5.5 End-User Industry
- 5.5.1 Retail
- 5.5.2 E-commerce
- 5.5.3 Banking, Financial Services and Insurance (BFSI)
- 5.5.4 Media and Advertising
- 5.5.5 Education
- 5.5.6 Other End-user Industries
-
5.6 Geography
- 5.6.1 North America
- 5.6.1.1 US
- 5.6.1.2 Canada
- 5.6.2 Europe
- 5.6.2.1 UK
- 5.6.2.2 Germany
- 5.6.2.3 France
- 5.6.2.4 Spain
- 5.6.2.5 Rest of Europe
- 5.6.3 Asia-Pacific
- 5.6.3.1 China
- 5.6.3.2 Japan
- 5.6.3.3 India
- 5.6.3.4 South Korea
- 5.6.3.5 Rest of Asia-Pacific
- 5.6.4 Latin America
- 5.6.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
-
6.1 Company Profiles
- 6.1.1 Google LLC
- 6.1.2 Microsoft Corporation
- 6.1.3 Meta
- 6.1.4 Amazon Web Services, Inc
- 6.1.5 IBM Corporation
- 6.1.6 Adobe Systems Incorporated
- 6.1.7 Salesforce.com Inc.
- 6.1.8 Baidu Inc.
- 6.1.9 Snap Inc.
- 6.1.10 Clarabridge Inc.
- 6.1.11 HootSuite Media Inc.
- 6.1.12 Meltwater News US Inc.
- 6.1.13 Crimson Hexagon Inc.
- 6.1.14 Sprout Social Inc.
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET
AI in Social Media Industry Segmentation
AI in social media aims to boost creation of content and audience interaction by utilizing this technology. It is used to automate the creation of postings, the analysis of user data, and the provision of recommendations and suggestions to users. The Artificial Intelligence (AI) in the Social Media Market is segmented By Technology (Machine Learning and Deep Learning, NLP), Application (Sales and Marketing, Customer Experience Management, Image Recognition, Predictive Risk Assessment), Service (Managed Service, Professional Service), Organization Size (Small and Medium Enterprise, Large Enterprise) End User (Retail, E-commerce, Banking, Financial Services and Insurance (BFSI), Media and Advertising, Education, Other End-user Industries) and Geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa).
The market sizes and forecasts are provided regarding value (USD million) for all the above segments.
| Technology | Machine Learning and Deep Learning | |
| Natural Language Processing (NLP) | ||
| Application | Customer Experience Management | |
| Sales and Marketing | ||
| Image Recognition | ||
| Predictive Risk Assessment | ||
| Other Applications | ||
| Service | Managed Service | |
| Professional Service | ||
| Organization Size | Small and Medium Enterprises | |
| Large Enterprises | ||
| End-User Industry | Retail | |
| E-commerce | ||
| Banking, Financial Services and Insurance (BFSI) | ||
| Media and Advertising | ||
| Education | ||
| Other End-user Industries | ||
| Geography | North America | US |
| Canada | ||
| Geography | Europe | UK |
| Germany | ||
| France | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Latin America | |
| Middle East and Africa |
AI in Social Media Market Research FAQs
How big is the AI in Social Media Market?
The AI in Social Media Market size is expected to reach USD 2.10 billion in 2024 and grow at a CAGR of 28.04% to reach USD 7.25 billion by 2029.
What is the current AI in Social Media Market size?
In 2024, the AI in Social Media Market size is expected to reach USD 2.10 billion.
Who are the key players in AI in Social Media Market?
Microsoft Corporation, Google LLC, Amazon Web Services, Inc, Adobe Systems Incorporated and Meta are the major companies operating in the AI in Social Media Market.
Which is the fastest growing region in AI in Social Media Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in AI in Social Media Market?
In 2024, the North America accounts for the largest market share in AI in Social Media Market.
What years does this AI in Social Media Market cover, and what was the market size in 2023?
In 2023, the AI in Social Media Market size was estimated at USD 1.64 billion. The report covers the AI in Social Media Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the AI in Social Media Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
AI in Social Media Industry Report
Statistics for the 2024 AI in Social Media market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. AI in Social Media analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
