AI in Social Media Market worth $2,197.1 Million by 2023
The report "AI in Social Media Market by Technology (Deep Learning & Machine Learning, and NLP), Application
(Sales & Marketing, Customer Experience Management, and Predictive Risk Assessment), Component, Enterprise
Size, End-User, and Region - Global Forecast to 2023", MarketsandMarkets forecasts the global AI in social media
market to grow from 633.1 million in 2018 to USD 2,197.1 million by 2023, at a Compound Annual Growth Rate
(CAGR) of 28.3% during the forecast period. The increasing adoption of the AI technology for various applications
in the social media sector and utilization of AI-enabled smartphones are expected to drive the growth of the AI in
social media market.
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Among technologies, the Natural Language Processing (NLP) technology is expected to grow at the highest CAGR
during the forecast period
In the AI in social media market, the NLP technology is used to collect, analyze, and visualize customer-related
data, such as responses to particular products and services. The NLP technology is also used to understand human
languages via virtual chatbots. The use of the NLP technology in social media platforms has increased, which helps
in offering 24/7 services to customers.
The Small and Medium-sized Enterprises (SME) segment is expected to have the largest market size during the
On the basis of enterprise size, the AI in social media market is segmented into SMEs and large enterprises. Among
these, the SMEs segment is expected to have the larger market size during the forecast period. The increasing
demand for the integration of the AI technology with social media platforms is expected to have accelerated the
growth of the SMEs.
In regions, Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period
In the APAC region, global as well as domestic enterprises are investing in AI in social media