Press release
AI In Social Media Market 2024 - Size, Share Analysis, Growth Trends, and Forecasts for 2033
AI In Social Media Market
The ai in social media market size is expected to see exponential growth in the next few years. It will grow to $5.95 billion in 2028 at a compound annual growth rate (CAGR) of 28.8%. The growth in the forecast period can be attributed to tailored platform personalization, strengthened spam and fake account detection, improved trend prediction, precision in ad targeting, ai-driven customer service innovation. Major trends in the forecast period include platform customization and user experience, conversational ai and chatbots, content creation and curation, visual recognition and augmented reality, sentiment analysis and social listening.
Market Overview -
AI (artificial intelligence) in social media refers to the process of using AI technologies and techniques to enhance and improve various aspects of social media platforms and user experiences. AI is helping social media platforms deliver more personalized, engaging, and relevant content to users while also improving content moderation and customer service.
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AI In Social Media Market Soars As Growing Social Media Usage Revolutionizes Online Shopping Experience
The growing social media usage for online shopping is expected to propel the growth of AI in social media market going forward. Social media usage for online shopping refers to the growing trend of using social media platforms for discovering, researching, and purchasing products online. AI in social media is used for online shopping to enhance the shopping experience, improve product recommendations, and streamline the purchase process. It helps with personalized recommendations, visual search, chatbots and virtual assistants, customer support, fraud detection, and security. So, these factors boost AI in social media market. For instance, in December 2022, according to Influencer Marketing Hub, a Denmark-based media company, the number of social consumers in the US increased by more than 35%, and in 2022, social commerce sales in the country will be worth $53.10 million, or 5.1% of all online sales compared to previous years. In China, 11.7% of total retail eCommerce sales will be through social apps in 2020, and it had increase to 52% in 2022. Therefore, the growing social media usage for online shopping is driving the growth of AI in social media market.
Competitive Landscape -
Major companies operating in the ai in social media market report are Meta Platforms Inc., International Business Machines Corporation, Microsoft Corporation, Adobe Inc., Snap Inc., Amazon Web Services Inc., Google LLC, Salesforce Inc., Twitter Inc., Baidu Inc., Hootsuite Inc., Clarabridge, NetBase Solutions Inc., Talkwalker, Converseon Inc., Sprinklr, ByteDance Ltd., Pinterest Inc., Reddit Inc., Sprout Social Inc., Buffer Inc., Socialbakers Inc., Brandwatch GmbH, Meltwater Group ASA, Crimson Hexagon Inc., Khoros Inc., Falcon.io, Zoho Corporation Pvt. Ltd., Brand24 sp. z o.o., Oktopost
Revolutionary AI Tool To Combat Misinformation And Enhance Accuracy In Social Media
Technological advancement is a key trend gaining popularity in the AI in social media markets. Major companies operating in the AI in social media market are developing innovative technologies to sustain their position in the market. For instance, in July 2022, Meta Platforms, Inc., a US-based technology company, launched a new AI-powered tool called Sphere. It is the first AI model capable of instantly scanning millions of citations to see if they genuinely support the associated assertion. This innovative artificial intelligence (AI) program would identify and address false information, or fake news, on the internet and on Facebook, Instagram, and WhatsApp, which contribute to the spread of misinformation online, to improve the accuracy of Wikipedia pages. Additionally, Sphere's dataset, which consists of 134 million public webpages, uses the internet's collective wisdom to quickly examine hundreds of thousands of online citations in an effort to look for factual inaccuracies. The tool is expected to help improve the accuracy and reliability of information online and ultimately combat the spread of misinformation on social media.
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Key Segments -
The ai in social media market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Technology: Machine Learning And Deep Learning, Natural Language Processing (NLP)
3) By Enterprise Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Application: Customer Experience Management, Sales And Marketing, Image Recognition, Predictive Risk Assessment, Other Applications
5) By End User: Retail, E-commerce, Banking, Financial Services And Insurance (BFSI), Media And Advertising, Education, Public Utilities, Others End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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