AI in Social Media Market worth $2,197.1 Million by 2023

(IT-NEWSWIRE.COM, January 09, 2020 ) MarketsandMarkets forecasts the global Artificial Intelligence (AI) in social media market to grow from USD 633.1 million in 2018 to USD 2,197.1 million by 2023, at a Compound Annual Growth Rate (CAGR) of 28.3% during the forecast period. The flexibility in social media network can be achieved by integrating AI solutions with the social media network.

Additionally, there is an increase in the adoption rate of the AI technology for various applications, such as sales and marketing, predictive risk assessment, and customer experience management in the social media sector. These factors are expected to drive the growth of the AI in social media market.

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Among components, the solutions segment is divided into software tools and platforms. Among these, the software tools segment is expected to grow at a higher CAGR during the forecast period. This high growth is attributed to the fact that these software tools are used to develop and deploy AI-enabled solutions in the social media sector.
Based on enterprise size, the AI in social media market is segmented into Small and Medium-sized Enterprises (SMEs) and large enterprises. The SMEs segment is expected to have the larger market size and grow at a higher CAGR during the forecast period. The adoption of AI in social media solutions by SMEs in the APAC region is expected to increase at a rapid pace. The increasing demand for the integration of the AI technology in the social media sector is expected to have accelerated the growth of the SMEs.

The AI in social media market report encompasses the competitive landscape and company profiles of the key vendors based on their product offerings and business strategies. The major AI in social media vendors include Google (US), Facebook (US), AWS (US), IBM (US), Adobe Systems (US), Baidu (China), Salesforce (US), Twitter (US), Snap (US), Clarabridge (US), Converseon (US), Sprinklr (US), Unmetric (US), ISentium (US), Cluep (US), Netbase (US), Spredfast (US), Synthesio (US), Crimson Heaxagon (US), Hootsuite (Canada), Sprout Social (US), Vidora (US), Meltwater (US), and Talkwalker (Luxembourg).

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AI in Social Media Market worth $2,197.1 Million by 2023