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. Read More

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. Read More

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. Read More

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). Read More

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. Read More

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. Read More

AI in Social Media Market Trends

Market Trends of AI in Social Media Industry

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.

Artificial Intelligence in Social Media Market - E-commerce as share of total U.S. retail sales from Q1' 2021 to Q1' 2022, in Percentage

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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.