Market Research Report
Asia Pacific Artificial Intelligence in Marketing Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering, Application, and End- Use Industry
|Asia Pacific Artificial Intelligence in Marketing Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering, Application, and End- Use Industry|
Published: June 6, 2021
The Insight Partners
Content info: 192 Pages
Delivery time: 1-2 business days
The artificial intelligence in marketing market in APAC is expected to reach US$ 26,023.61 million by 2028 from US$ US$ 3,652.85 million in 2021. The market is estimated to grow at a CAGR of 32.4% from 2021 to 2028. Understanding the audience in real-time allows personalization of the customer's ad experience, which is very important nowadays. In recent years, advertising has been highly personalized with the help of AI. This has made customers expect ad experiences that are targeted to their unique needs and interests. The strategy is becoming increasingly popular, and it is producing incredible results. Additionally, progress in the adoption of cloud-based applications and services is among the other factors expected to drive the growth of the APAC artificial intelligence in marketing market during the forecast period.
Based on end-use industry, the BFSI segment led the artificial intelligence in marketing market in 2020. Companies in the BFSI (banking, financial services, and insurance) industry offer a range of financial services and products. Various banks are opting the use of artificial intelligence and software robotics across diverse functions that include fraud detection, anti-money laundering, and algorithmic trading. The artificial intelligence-based data analytics and visualization tools help the enterprises working in BFSI analyze the large volumes of unstructured and structured data and provide an in-depth analysis.
The COVID-19 outbreak has resulted in a massive financial loss in APAC. Governments in APAC countries are taking possible steps to reduce its effects by announcing lockdown, which is negatively affecting the manufacturing and construction sectors. China, India, South Korea, and Taiwan dominate the global manufacturing sector with significantly unprecedented, large numbers of manufacturing units. The emergence of COVID-19 outbreak and imposition of lockdown across the country have substantially disrupted its manufacturing sector. Humans' everyday lives have become increasingly reliant on social media. In the lockdown situation, people have nothing much to do at home. Hence, there is a spike in online media consumption amid the pandemic. Business owners need to craft engagement techniques that help them communicate with their customers more than ever before. The company's focus is on customized products and other ways to keep the company services running at a good pace.
The overall APAC artificial intelligence in marketing market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the APAC artificial intelligence in marketing market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the APAC artificial intelligence in marketing market. Accenture; Adobe; Amazon Web Services; Appier Inc.; Bidalgo; CognitiveScale; IBM Corporation; Microsoft Corporation; Novantas (Amplero), Inc; Oracle Corporation; Salesforce.com, inc.; SAP SE; SAS Institute Inc.; and Xilinx, Inc. are among the players operating in the market.