iCrowdNewswire Jan 14, 2021 11:19 AM ET
The increasing adoption of deep learning and NLP (Natural Language Processing) in social media and marketing are majorly driving the market. However, lack of data security in the cloud is hindering the market growth.
The global AI in social media market is segmented into component, deployment, technology, tools, vertical, and region.
By geography, the market is studied in North America, Europe, Asia Pacific, and the rest of the world. Among these regions, Asia Pacific is projected to show high growth rate in the forecast period. The rise in demand for cloud-based applications and growth in big data is driving organizations to deploy AI in social media in this region.
On the other hand, Europe, the Middle East & Africa is expected to show a decent growth considering the AI in the social media market. The adoption of AI to improve customer service is driving the market in this region. However, the North America region is expected to register a significant market share throughout the forecast period. Moreover, the presence of major players in the artificial intelligence market results in the increasing adoption of these systems in this region. Also, the demand for virtual assistants in North America is gainig traction which is affecting the growth of the market in the region.
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Some of the key players in this market are Oracle Corporation (U.S.), IBM Corporation (U.S.), Adobe Systems (U.S.), SAS Institute (U.S.), Google LLC (U.S.), SAP SE (Germany), Alice Technologies (U.S.), NVIDIA Corporation (U.S.), Micron Technology, Inc. (U.S.), Albert Technologies Ltd. (U.K) and many others.
Some of the key innovators in the global AI in social media market are Twitter (U.S.), InsideSales.com (U.S.), Persado (U.S.), Talkwalker Alerts (Luxembourg), Darktrace (U.K), Autodesk, Inc. (U.S.), Renoworks Software (Canada), Bentley Systems Inc. (U.S.), Beyond Limits (U.S.), HPE (U.S.), Amazon Web Services (U.S.) and many others.
There have been recent mergers and acquisitions among the key players, where the business entities expect to strengthen their reach to their customers.
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