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AI in Social Media Market Competitive Analysis by Key Vendors, Growth Factors, Development Status, and Forecast | Analysis of Corona-Virus

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Ehtesham Peerzade

Market Highlights

This market has decreased the stress of studying customer demands and behaviors, which helps the advertisers develop better products and marketing strategies, directly increasing the usage of AI in social media. The market is growing through its golden periods due to the increasing usage of social media advertising by major market players and the rise in competition within the major industries. The companies invest in research & development programs to unfold the new aspects, imposing an extra load on the market and helping the market gain accelerated speeds.

The influence of social media platforms on society is primarily motivating the use of AI in social media globally. Reports that review the information and communication technology industry has been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is projected to gain earnings valued at USD 2.6 billion by 2023 while advancing market share with a CAGR of 28.6% in the upcoming years.

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Regional Classification

AI in social media market has gained global adoption due to a rise in disposable incomes, rapid digitalization, and demands for better technologies. The global AI in social media market is divided into North America, the Asia Pacific, Europe, and the rest of the world. The North American region is currently leading the market due to the high awareness, demands for smart alternates, demands for new technologies, and other factors. The Asia Pacific region is the fastest-growing market due to the vast population covers, rapid urbanization, rise in disposable incomes, rise in living standards, increasing demands for better technologies, and other factors.

Segmentation:

The segmental study of the AI in social media market is conducted on the basis of technology, application, component, enterprise size, and end-user. On the basis of technology, the market for AI in social media is segmented into deep learning, machine learning, and natural learning process (NLP). Based on the applications, the AI in social media market is segmented into customer experience management, sales and marketing, predictive risk assessment, and others. The segmentation of the AI in social media market on the basis of the component comprises of solutions and services. By enterprise size, the market for AI in social media is segmented into SME and large enterprise. The end-user based segmentation of the AI in social media market comprises of banking, financial services, and insurance (BFSI), retail and e-commerce, media and advertising, public utilities, education, and others.

Industry News

Global AI in social media market is growing at lightning speeds due to increasing demands for smear technologies, a rise in digitalization, and disposable incomes leading to a rise in living standards. Currently, the North American region is leading the global market with the highest growth rates and will maintain its post during this tenure. On the other hand, the Asia Pacific region will grow at the fastest speed.

Competitive Dashboard:

The competition level in the market is found to be conducive to the advancement of the players who are operating in the market. The need to capture a broader chunk of the profits is supporting the expansion of the market. The influence of governmental policies is motivating further development in the market. The uncertainty in the market is a critical factor that is driving the formulation of policies and plans that will be applied to drive market growth. The competitors are devoting their resources to ensure an optimum level of growth in the coming years. The rise in the flow of international transactions between nations is further inspiring the progress of the market. The synergies being created between supply and demand forces in the market is expected to induce further growth of the market. The fluctuations in the currency are expected to stabilize and thus create a favorable impact on the market.

The eminent competitors in the AI in social media market are Facebook (US), AWS (US), Baidu (China), IBM (US), Adobe Systems (US), Google (US), Salesforce (US), Snap (US), Clarabridge (US), Converseon (US), Sprinklr (US), ISentium (US), Cluep (US), Netbase (US), Synthesio (US), Crimson Heaxagon (US), Twitter (US) Hootsuite (Canada), Unmetric (US),Sprout Social (US), Vidora (US), Spredfast (US), Meltwater (US), and Talkwalker (Luxembourg).

Also Read: http://www.marketwatch.com/story/ai-in-social-media-market-growth-trends-industry-share-business-opportunities-competitor-strategies-and-covid-19-analysis-2020-08-24 

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