NEW YORK, Feb. 1, 2022 /PRNewswire/ -- Artificial Intelligence-Based Personalization Market Facts at a Glance-
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According to the recent market study by Technavio, the artificial intelligence-based personalization market size is expected to increase by USD 715.20 million from 2020 to 2025, accelerating at a CAGR of 19.17% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth, occupying about 35% of the global market share. China is the key market for artificial intelligence-based personalization in APAC. The market growth in APAC will be slower than the growth of the market in MEA.
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Vendor Insights-
The artificial intelligence-based personalization market is concentrated. The competitive scenario of the market is dynamic, which increased investments by market players. Vendors are significantly investing in AI and R&D to develop comprehensive offerings.
Accenture Plc: The company offers Solutions.AI for Marketing that is designed for this era of digital interactions. It brings the speed and precision of multi-touch attribution to marketing mix modeling.
Alphabet Inc.: The company offers Amazon Personalize that enables developers to build applications with the same machine learning technology used by Amazon.com for real-time personalized recommendations.
BloomReach Inc.: The company offers predictive affinities to automatically choose the right content and product to every customer every time.
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Regional Market Outlook
The artificial intelligence-based personalization market growth in APAC will be significant during the forecast period. However, the market witnessed the fastest growth in the MEA. Factors such as automation of processes such as automated customer service agents, automated threat intelligence and prevention systems, and the changing relationships between machines and employees are driving the growth of the artificial intelligence-based personalization market in MEA. The US, Germany, the UK, and France will emerge as the prominent markets for artificial intelligence-based personalization market over the forecast period.
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Latest Drivers & Trends Driving the Market-
The unsubscribe rate is high in mass marketing. About 20% of email receivers unsubscribe from e-mails when they receive too many from a particular brand. Hence, companies are focusing on sending personalized emails based on previous orders, searches, clicks, time spent on pages, interests of similar visitors, and wish lists of customers. The process helps companies gather information of customers and identify a suitable predictive model to use on customer data for determining whether the customer is active, inactive for a brief time, or inactive for a prolonged period. This is driving the adoption of AI-based personalization solutions in mass marketing, which is driving the market in focus.
Many marketers in the industry find it difficult to use the available technologies to connect to their business and provide effective communication personalization. Also, many people are unaware of the technical issues related to software implementation. This is creating uncertainties in the usability after the implementation of AI. This is acting as one of the major challenges in the growth of the global artificial intelligence-based personalization market.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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Artificial Intelligence Based Personalization Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 19.17% |
Market growth 2021-2025 |
USD 715.20 million |
Market structure |
Concentrated |
YoY growth (%) |
18.76 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 35% |
Key consumer countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Accenture Plc, Alphabet Inc., Amazon.com Inc., Apple Inc., BloomReach Inc., Blueshift Labs Inc., H2O.ai Inc., International Business Machines Corp., Microsoft Corp., and Salesforce.com Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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