Europe Artificial Intelligence in Marketing Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering (Solution and Services), Application (Social Media Advertising, Search Advertising, Dynamic Pricing, Virtual Assistant, Content Curatio

Europe Artificial Intelligence in Marketing Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering (Solution and Services), Application (Social Media Advertising, Search Advertising, Dynamic Pricing, Virtual Assistant, Content Curation, Sales & Marketing Automation, Analytics Platform, and Others), and End- Use Industry (BFSI, Retail, Consumer Goods, Media and Entertainment, and Others)

The artificial intelligence in marketing market in Europe is expected to reach US$ 27,045.20 million by 2028 from US$ 4,039.26 million in 2021. The market is estimated to grow at a CAGR of 31.2% from 2021 to 2028. Many companies, regardless of the industry where they belong, are concentrating on developing long-term, mutually beneficial relationships with their customers in today's competitive environment. Therefore, in recent years, customer engagement strategies and actions have shifted from being product-driven to being more customer relationship-driven, which drives the market growth. Additionally, the aggravating use of social media for advertising is among the other factors expected to positively influence the growth of the Europe artificial intelligence in marketing market during the forecast period.

Based on application, the social media advertising segment led the Europe artificial intelligence in marketing market in 2020. Social media has transformed from being just a platform to share information and chat with friends and family. Companies across the world have started taking advantage of the enormous potential of these platforms for ecommerce, marketing, customer service, public relations, and others. Although the management of social media is a cumbersome task. The tasks such as content creation, sharing content at appropriate timelines, interaction with audience, monitoring of relevant activities, management of paid advertisements, and data analytics and reports are almost impossible to conduct manually.

Due to the COVID-19 outbreak, Russia, the UK, France, Italy, Spain, and Germany are among the worst affected member states in Europe. Businesses in the region face severe economic difficulties as they had to suspend their operations or substantially reduce their activities. Due to business shutdowns, travel bans, and supply chain disruptions, the region experienced an economic slowdown in 2020, and it is most likely to continue during 2021. According to Worldometer, till April 20th, 2021, there were 3,164,447, 4,390,783, 5,296,222 COVID-19 confirmed cases in Germany, the UK, and France, respectively. The member states of Europe, such as Italy, Spain, and Germany, have implemented drastic measures and travel restrictions to limit the spread of novel coronavirus that causes COVID-19. However, growing adoption of software-as-a-service is propelling the demand for artificial intelligence in marketing during pandemic.

The overall Europe artificial intelligence in marketing market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Europe artificial intelligence in marketing market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe artificial intelligence in marketing market. Accenture; Adobe; Amazon Web Services; Bidalgo; CognitiveScale; IBM Corporation; Microsoft Corporation; Oracle Corporation; Salesforce.com, inc.; SAP SE; SAS Institute Inc.; and Xilinx, Inc. are among the players operating in the market.

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