USD 440.8 Billion
Artificial Intelligence Based Personalization Market Size, Share, Growth Analysis, By Solution(Hardware, Software, and Services), By Technology(Machine Learning, Natural Language Processing (NLP), and Others), By Deployment Mode(Cloud, On-premises), By Organization Size(Large Enterprises and Small and Medium-sized Enterprises (SMEs)), By Business Function(Marketing and Sales, Security, Finance, Law), By End-User(BFSI, Retail, Law, Healthcare), By Application(Travel, Retail, Media & Entertainment, and Others), By Type(Website Personalization, Display Ads Personalization, Social Media Personalization, E-mail Personalization), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45A2301 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|Tables:
233
|Figures:
81
Artificial Intelligence Based Personalization Market Insights
Global Artificial Intelligence Based Personalization Market size was valued at USD 440.8 Billion in 2022 and is poised to grow from USD 461.9 Billion in 2023 to USD 672.11 Billion by 2031, growing at a CAGR of 4.80% in the forecast period (2024-2031).
Mass marketing, which targets all users indiscriminately regardless of their preferences, often leads to a flurry of compromises due to irrelevant features. However, AI-powered personalization puts an edge and offers a remedy to this challenge by adapting messages according to individual behavior, preferences and past interactions. This targeted approach ensures that users receive content that is relevant and appealing to them, thus reducing the number of opt-outs and improving overall marketing efficiency. Leveraging the power of AI-powered personalization allows businesses to satisfy customers, increase engagement, and ultimately drive better results in their marketing efforts.
The market is driven by the growing demand for customized experiences for consumers in industries such as e-commerce, healthcare and finance. Using AI algorithms, businesses analyze customer interaction patterns, preferences and behaviors to deliver personalized marketing campaigns and dynamic pricing strategies. This approach to personalization does not necessarily drive away customer satisfaction and loyalty not only higher but also provides conversion and revenue growth in e-commerce. However, with challenges such as ethical considerations of bias and discrimination, privacy concerns and required initial financial investment, it is important to take a cautious approach to projects seeking to be AI-powered personalized marketing solutions will be implemented.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Website Personalization
Fastest Growth
Display Ads Personalization
Growth Rate
4.80% CAGR
Global Artificial Intelligence Based Personalization Market ($ Bn)
Country Share for North America Region (%)
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Artificial Intelligence Based Personalization Market Segmental Analysis
By solution, the market is segmented Hardware, Software, and Services. By technology, the market is segmented into Machine Learning, Natural Language Processing (NLP), and Others. By Deployment Mode, the market is segmented into Cloud, On-premises. By Organization Size, the market is segmented into large enterprises and Small and medium-sized enterprises (SMEs). By Business Function, the market is segmented into Marketing and Sales, Security, Finance, Law, Human Resource, Other. By End User, the market is segmented into BFSI, Retail, Law, Healthcare, Advertising & Media, Manufacturing, Automotive and Transportation, Others. The global Artificial Intelligence Based Personalized market segmentation based on application includes travel, retail, media & entertainment, and others. The global market segmentation, based on type includes website personalization, display ads personalization, social media personalization, e-mail personalization, and others. By region, the market is segmented into North America, Asia Pacific, Europe, Latin America, and MEA.
Analysis by Solution
In 2021, the software segment dominated the global market. The foremost elements using the software program phase increase are advances in parallel processing, statistics garage, and computer electricity. The phase is increasing because of the elevated want for software technologies inclusive of linear algebra, video analytics, hardware verbal exchange ability, inference, and sparse matrices that are used within the deployment and layout of AI programs. The call for software solutions within the global market is predicted to broaden in reaction to the developing requirement for organizations to collect applicable information and facts through visual content evaluation.
The hardware segment is expected to grow at a significant CAGR. The hardware for synthetic intelligence includes plenty of elements, which include CPU, GPU, ASIC, and FPGA. Due to the remarkable computing ability of CPUs and GPUs, there's a massive call for them, which has led to their domination inside the hardware enterprise. In the imminent years, the call for artificial intelligence hardware systems is anticipated to increase due to the developing popularity of AI technology across plenty of stop use industries.
Analysis by Type
The website personalization segment dominated the market, accounting for the highest market share as businesses must customize their websites to each customer The best way to deliver customized content for a specific audience is a website personalization, which can effectively increase new visitor conversion rates and retention. When it comes to clothing and accessory shopping- think shoes, belts and sunglasses- through websites.
Display ads personalization is the fastest growing segment in the market. In the artificial intelligence (AI)-based personalization market, display and personalization features play an important role in tailoring advertising content to specific individuals or audience segments. Display ad personalization enables advertisers to use AI algorithms to analyze user behavior, preferences, and demographics to create highly targeted ad campaigns. AI algorithms can analyze large amounts of data to predict future user behavior and preferences. In terms of display ad personalization, this means identifying which ads a user is likely to click or interact with based on their past behavior and profile information and advertisers can then use this insight to create their ad targeting strategies effectively to maximize ROI.
Global Artificial Intelligence Based Personalization Market By Type (%)
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Artificial Intelligence Based Personalization Market Regional Insights
North America region dominates the market and holds the largest share of the global artificial intelligence based personalization market. The global artificial intelligence based personalization market has grown exponentially due to favorable government regulations encouraging North American companies to adopt AI and the demand for sophisticated hardware and software solutions for automation technologies in various vercles end-users such as Facebook, Amazon, Google, IBM, Microsoft and Apple Major tech companies have a significant impact on the growth of the market because they are present in North America.
The Asia-Pacific region in the global artificial intelligence based personalization market is expected to witness the fastest growth during the forecast period. Demand for artificial intelligence technologies is on the rise thanks to heavy multi-company investments in AI Baidu Incorporation, a Chinese digital venture capital firm, has reached a sale deal with investors a group of financial services providers offering consumer lending, wealth management and other business-related services, its role in a range of sectors is growing, including the automotive and healthcare, retail and food and beverage industries.
Global Artificial Intelligence Based Personalization Market By Geography
- Largest
- Fastest
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Artificial Intelligence Based Personalization Market Dynamics
Drivers
Increasing Demand for a Personalized Customer Experience
- Global collaboration based on artificial intelligence for personalization has shown tremendous growth in recent times. A key factor driving the market’s increasing performance is the increasing demand for personalized customer experience. Some key trends have been noted in the AI-based personalization market. Furthermore, the rapid adoption of artificial intelligence technologies is also considered as one of the important drivers for increasing market performance across the globe Furthermore, the movement of mobile technology, IoT and in-store shopping is expected higher will also increase market performance during the analysis period. Factors such as growing big data and analytics, cost-effective analytics of consumer data, and growing interest in real-time personalization are also likely to propel the global market in the coming years.
Rapid Technological Development is Driving the Market Growth
- The recent expansion in global artificial intelligence is greatly aided by the rapid adoption of digital technologies and the Internet. Heavy R&D spending by large IT firms continues to accelerate technological progress across a wide range of industries. Artificial technology is expected to see increasing adoption in a variety of end-use industries including manufacturing, banking & finance, healthcare, automotive, food & beverage, retail, and logistics overseas will further boost the global market. Most companies have traditionally placed high priority on technological development.
Restraints
Growing Data Privacy Concerns
- Multiple data privacy and algorithms are expected to disrupt the industry. The technology leverages machine learning and deep learning capabilities to help deliver the right deal to customers. These tools, including analytics systems, recommendation systems, and adtech networks, can be used to abuse sensitive data. Small errors can cause system failure or malfunction, which has a significant impact on outcomes and expected results.
Data Privacy Issues
- With the increasing use of AI for personalization, data privacy concerns are growing. Collecting and analyzing large amounts of user data raises ethical questions about how that data is used, stored and protected. Regulations such as the GDPR and CCPA provide strict guidelines for data collection and handling, which can hinder attempts at privatization. AI algorithms can inadvertently introduce biases in the data they train. This can lead to discriminatory or unfair individual experiences, especially in critical areas such as credit, hiring, and health care. Preventing algorithm bias requires careful consideration of data sources, algorithm design, and ongoing analysis and analysis.
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Artificial Intelligence Based Personalization Market Competitive Landscape
Global Artificial Intelligence Based Personalization Market is highly competitive and dynamic, with multiple players vying for market share through innovation, technological advancements, strategic partnerships, and customer-centric solutions. As the demand for personalized and data-driven experiences continues to grow, companies that can effectively leverage AI, machine learning, and data analytics to deliver personalized solutions that meet the unique needs and preferences of consumers and businesses will likely succeed and thrive in this competitive market landscape.
Top Player’s Company Profiles
- Intel Corporation
- Microsoft
- IBM
- Google LLC
- NVIDIA Corporation
- SAP SE
- Amazon Web Services Inc.
- Oracle Corporation
- Facebook Inc.
- General Electric
- Siemens AG
- Apple Inc.
- Baidu Inc.
- Alibaba Group Holding Ltd.
- Cisco Systems Inc.
- Accenture PLC
- Infosys Limited
- Wipro Limited
- Huawei Technologies Co. Ltd.
- Tencent Holdings Ltd.
Recent Developments
- In February 2023, Iris.ai announced that it has received EIC Accelerator Blended funding, EIC’s flagship startup investment program. The funding consists of a total investment of approximately €12 million from the European Investment Fund and the EIC, as well as a grant of €2.4 million.
- In April 2023, H20.ai and Geo Technologies, a Japan-based provider of mapping information and location information solutions for traffic management systems, form a strategic alliance. The business has developed an AI-powered platform of H2O AI. It uses on-board cameras for road safety through Cloud.
- In June 2023, IBM announced a partnership with The All-England Lawn Tennis Club for the 2023 Wimbledon Championship. During the competition, the project will use IBM Watsonx’s generative AI technology to provide commentary on video highlights.
Artificial Intelligence Based Personalization Key Market Trends
- Growing Mass Retailers are Driving the Market Growth: The market CAGR of artificial intelligence-based personnel is driven by the increasing sales volume. Advertising a good or service to all final consumers, regardless of their preferences and buying habits, is known as mass marketing Email, direct mail, and push notifications on mobile devices are all forms of marketing customer customs. The market has a high order rate. When too many tokens are received, a significant portion of email recipients drop out of the communication. Message scheduling is important because of client behavior. The need for personalized messaging and the increasing mass marketing subscription rate are driving the demand for A-based personalization of messaging. Moreover, the market for based personalization is expanding due to increased customer data processing and increased use of online services. As a result, companies have plenty of options to leverage new data and deliver more personalized experiences to their customers. Personalization can help companies save money by reducing necessary human labor and simplifying highly focused marketing campaigns.
Artificial Intelligence Based Personalization Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Technologies such as natural language processing, artificial intelligence, machine learning and voice-based virtual assistants allow personalized web and mobile apps, tailored web advertising experiences to become AI-powered personalization important for retailers, media, finance, online services and healthcare. This has created a need for an AI-powered personalization market, which is growing exponentially. Global collaboration based on artificial intelligence for personalization has shown tremendous growth in recent times. A key factor driving the rise in market performance is the growing demand for personalized customer experience. Moreover, the rapidly increasing use of artificial intelligence technologies is also considered as one of the most important factors to improve the performance of the market globally.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 440.8 Billion |
| Market size value in 2031 | USD 672.11 Billion |
| Growth Rate | 4.80% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Artificial Intelligence Based Personalization Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Artificial Intelligence Based Personalization Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Artificial Intelligence Based Personalization Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Artificial Intelligence Based Personalization Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Artificial Intelligence Based Personalization Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Artificial Intelligence Based Personalization Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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