Global Artificial Intelligence (AI) in Social Media Market 2019-2023 | Growing Demand for Smart Homes to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Feb 6, 2020--
The artificial intelligence (AI) in social media market size is poised to grow by USD 1.67 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global artificial intelligence (AI) in social media market 2019-2023 (Graphic: Business Wire)
The process of deploying and maintaining reliable data interfaces is difficult, owing to the complexity of the process and the huge volumes of data being generated across various end-user industries. Therefore, enterprises around the world are adopting data integration solutions. Al in social media allows real-time synthesizing of data to facilitate real-time analysis for effective decision-making. It enables enterprises to monitor, transform, and deliver data; understand business processes; and bridge the gap between businesses and IT. Similarly, Al in social media helps end-user companies integrate technical and business process data from different sources and convert it into meaningful business insights. Vendors in the market are also introducing Al-powered products to increase the Al capabilities of analytics. Thus, with such initiatives the market is expected to witness a positive outlook during the forecast period.
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As per Technavio, the growing demand for smart homes have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Artificial Intelligence (AI) in Social Media Market: Growing Demand for Smart Homes
The changing consumer preferences and the growing penetration of electronic devices are driving the popularity of smart homes. The adoption of smart homes is high in the Americas and Europe, with developing economies in APAC also gradually adopting the concept. For instance, in India, Godrej Interior of the Godrej Group is developing connected homes. Many vendors in the market are trying to integrate these smart home devices with social media platforms. The rise in the number of connected devices results in the generation of massive volumes of data. Al in social media is being used in home appliances to predict consumer preferences based on historical data. Thus, the growing demand for smart homes will drive the growth of the market during the forecast period.
“Factors such as the investments in AI startups, development of smart cities, and the growing adoption of cloud-based solutions will have a positive impact on the growth of the artificial intelligence (AI) in social media market value during the forecast period,” says a senior analyst at Technavio.
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Artificial Intelligence (AI) in Social Media Market: Segmentation Analysis
This market research report segments the artificial intelligence (AI) in social media market by application (predictive risk management, consumer experience management, sales and marketing) and geography (Americas, APAC, and EMEA).
The Americas led the artificial intelligence (AI) in social media market in 2018, followed by the EMEA and APAC respectively. The Americas is expected to maintain its dominance and register the highest incremental growth during the forecast period, due to factors such as the high adoption of new technologies by the retail, manufacturing, and healthcare sectors and major cutbacks in the social media sector in terms of security.
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Five Forces Analysis
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