The artificial intelligence (ai) based personalization global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Artificial Intelligence (AI) Based Personalization Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The artificial intelligence (AI) based personalization market size has grown strongly in recent years. It will grow from $472.15 billion in 2023 to $498.22 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to Increasing Data Availability, Rise in E-Commerce, Growing Digitalization, Improved User Engagement, and Cross-Industry Adoption.
The artificial intelligence (AI) based personalization market size is expected to see strong growth in the next few years. It will grow to $607.63 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to increasing focus on customer retention, emergence of 5g technology, advancements in machine learning algorithms, rapid expansion of iot devices, and increased ai integration. Major trends in the forecast period include collaboration of ai and human expertise, ai-based predictive analytics, real-time personalization, voice and conversational ai, and ai-powered content recommendations.
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Scope Of Artificial Intelligence (AI) Based Personalization Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Artificial Intelligence (AI) Based Personalization Market Overview
Market Drivers –
The increasing inclination towards artificial intelligence by businesses is expected to propel the growth of the artificial intelligence (AI)-based personalization market going forward. Artificial intelligence refers to the development and implementation of computer systems that can perform tasks that typically require human intelligence. The combination of advanced algorithms, real-time capabilities, and a holistic understanding of customer journeys positions AI-driven personalization as a prominent strategy for businesses aiming to provide tailored and engaging experiences to their audience. For instance, in May 2022, according to the International Business Machines Corporation (IBM), a US-based technology company, around 35% of businesses worldwide used artificial intelligence (AI) in 2022, which is an increase of 4% from 2021. In addition, there was a 13% increase in organizations adopting artificial intelligence (AI) in 2022 compared to 2021. Therefore, the increasing inclination towards artificial intelligence use by businesses will drive the growth of the artificial intelligence (AI)-based personalization market.
Market Trends –
Major companies operating in the artificial intelligence (AI)-based personalization market are developing advanced technologies, such as personalized cold email tools, to better serve customers. The personalized cold email tool is an AI-powered tool designed to enable sales teams to scale hyper-personalized cold email outreach and leverages generative AI to automatically generate personalized content for email recipients. For instance, in April 2023, Regie.ai, a US-based software company, introduced Rapid Writer, a tool specifically crafted to assist sales teams in efficiently implementing highly personalized cold email outreach at scale. This innovative tool utilizes generative AI technology to automate the process of generating personalized content for email recipients, enhancing the effectiveness of communication strategies for sales teams.
The artificial intelligence (ai) based personalization market covered in this report is segmented –
1) By Type: Website Personalization, Display Ads Personalization, Social Media Personalization, E-Mail Personalization
2) By Technology: Machine Learning And Deep Learning, Natural Language Processing, Other Technologies
3) By Application: Travel, Retail, Media And Entertainment, Other Applications
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Regional Insights –
North America was the largest region in the artificial intelligence (Ai) based personalization market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (ai) based personalization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Amazon.com Inc., Apple Inc., Alphabet Inc. (Google), Microsoft Corp., Meta Platforms Inc., Accenture Plc, International Business Machines Corp. (IBM), Oracle Corporation, SAP SE, Salesforce.com Inc., McDonald Corp., Adobe Systems Inc., Twilio, Verint Systems Inc., Bounteous Inc., BloomReach Inc., Sitecore Holding II AS, RichRelevance, Coveo, Crownpeak Technology Inc., Dynamic Yield Ltd., Blueshift Labs Inc., Reflektion, mParticle Inc., ViSenze Pte. Ltd., H2O.ai Inc., Infinite Analytics Inc
Table of Contents
1. Executive Summary
2. Artificial Intelligence (AI) Based Personalization Market Characteristics
3. Artificial Intelligence (AI) Based Personalization Market Trends And Strategies
4. Artificial Intelligence (AI) Based Personalization Market – Macro Economic Scenario
5. Global Artificial Intelligence (AI) Based Personalization Market Size and Growth
….
32. Global Artificial Intelligence (AI) Based Personalization Market Competitive Benchmarking
33. Global Artificial Intelligence (AI) Based Personalization Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence (AI) Based Personalization Market
35. Artificial Intelligence (AI) Based Personalization Market Future Outlook and Potential Analysis
36. Appendix
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