Artificial Intelligence (AI) in Social Media Market to grow at a CAGR of 27.82% during 2024-2028
The Artificial Intelligence (AI) in Social Media Market is expected to grow at a CAGR of 27.82% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5570 million. The social media landscape has witnessed a significant expansion, with approximately 500 million new users joining various platforms in the beginning of 2021, as reported by DIGITAL 2021. This growth resulted in a global total of 4.20 billion social media users in January 2021, representing a 13% year-over-year increase from 2020. AI technology plays a pivotal role in today's social media networks, enabling marketers to execute targeted advertising campaigns based on demographic and behavioral data. Platforms such as Facebook, LinkedIn, Instagram, and Snapchat offer advertisers access to an extensive user base, reaching an estimated 1 billion daily active users collectively in January 2020.
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Technavio analysts predict that the Predictive risk management subsegment will lead the Application segment during 2024 and 2028 In the business world, social media has become an indispensable tool for brands and organizations, offering valuable insights for enhancing brand health, optimizing customer experience, and boosting campaign performance. The future of risk management is predicted to heavily rely on social media data, with AI playing a pivotal role. AI in social media enables advanced text and visual analysis, as well as predictive modeling, to identify and mitigate potential risks such as rogue accounts and consumer vilification. By implementing AI for social media, businesses can establish new tactics and guidelines to effectively escalate, recognize, and minimize the impact of these threats.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish growing demand for data integration and visual analytics
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Artificial Intelligence (AI) is revolutionizing the social media market by enabling advanced analytics and cognitive computing. Brands are increasingly using AI technology to understand customers' demographics, preferences, and behavior through sentiment analysis and user data. In the social media sector, AI is being used for predictive risk assessment, customer experience management, and sales and marketing. AI experts predict that deep learning and machine learning programs will become more prevalent, enabling automated moderation, chatbots, content curation, and creation. Large enterprises are investing in AI technology to gain a competitive edge. AI-enabled smartphones and social media networking platforms are making it easier for businesses to reach their audiences. AI technology is also being used for fraud detection, advertising, and content recommendation. However, data security remains a concern as AI relies heavily on user data. As AI continues to evolve, it will become even more integrated into our daily lives, transforming the way we interact with social media and each other.
In accordance with Technavio's market classification, the Artificial Intelligence (AI) in social media market is positioned under the global systems software market, which falls within the broader IT software industry. The IT software sector encompasses organizations specializing in the development and production of application and systems software, as well as database management software. The global systems software market specifically focuses on application development and management software, cloud computing software, data centers, hosting software, IT management software, mobility software, networking software, security software, and storage software. Notably, this market segment excludes companies involved in the development and production of home entertainment software.
The Artificial Intelligence (AI) in Social Media Market is experiencing significant growth, fueled by the growing demand for data integration and visual analytics. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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