Artificial Intelligence (AI) Based Personalization Market Growth, Industry Latest Trends, Size, Key Drivers, Top Players And Forecast To 2033

The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the Artificial Intelligence (AI) Based Personalization Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The artificial intelligence (AI) based personalization market size has grown strongly in recent years. It will grow from $472.15 billion in 2023 to $498.22 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to Increasing Data Availability, Rise in E-Commerce, Growing Digitalization, Improved User Engagement, and Cross-Industry Adoption.

The artificial intelligence (AI) based personalization market size is expected to see strong growth in the next few years. It will grow to $607.63 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to increasing focus on customer retention, emergence of 5g technology, advancements in machine learning algorithms, rapid expansion of iot devices, and increased ai integration. Major trends in the forecast period include collaboration of ai and human expertise, ai-based predictive analytics, real-time personalization, voice and conversational ai, and ai-powered content recommendations.

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Key Market Players:
Major companies operating in the artificial intelligence (ai) based personalization market report are Amazon.com Inc., Apple Inc., Alphabet Inc. (Google), Microsoft Corp., Meta Platforms Inc., Accentur*e Plc, International Business Machines Corp. (IBM), Oracle Corporation, SAP SE, Salesforce.com Inc., McDonald Corp., Adobe Systems Inc., Twilio, Verint Systems Inc., Bounteous Inc., BloomReach Inc., Sitecore Holding II AS, RichRelevance, Coveo, Crownpeak Technology Inc., Dynamic Yield Ltd., Blueshift Labs Inc., Reflektion, mParticle Inc., ViSenze Pte. Ltd., H2O.ai Inc., Infinite Analytics Inc

Market Drivers:
The increasing inclination towards artificial intelligence by businesses is expected to propel the growth of the artificial intelligence (AI)-based personalization market going forward. Artificial intelligence refers to the development and implementation of computer systems that can perform tasks that typically require human intelligence. The combination of advanced algorithms, real-time capabilities, and a holistic understanding of customer journeys positions AI-driven personalization as a prominent strategy for businesses aiming to provide tailored and engaging experiences to their audience. For instance, in May 2022, according to the International Business Machines Corporation (IBM), a US-based technology company, around 35% of businesses worldwide used artificial intelligence (AI) in 2022, which is an increase of 4% from 2021. In addition, there was a 13% increase in organizations adopting artificial intelligence (AI) in 2022 compared to 2021. Therefore, the increasing inclination towards artificial intelligence use by businesses will drive the growth of the artificial intelligence (AI)-based personalization market.

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The artificial intelligence (ai) based personalization market covered in this report is segmented -
1) By Type: Website Personalization, Display Ads Personalization, Social Media Personalization, E-Mail Personalization
2) By Technology: Machine Learning And Deep Learning, Natural Language Processing, Other Technologies
3) By Application: Travel, Retail, Media And Entertainment, Other Applications

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