The presence of AI in the social media market has been growing rapidly because of the fact that this is the sort of thing that could potentially end up automating a lot of processes that used to be done manually. Apple and Adobe are significant contributors to this growth trend, and Technavio’s new report suggests that this specific market could grow by over $3.6 billion by 2026 with all things having been considered and taken into account.
With all of that having been said and now out of the way, it is important to note that the expected annual growth rate for AI in the social media market is at around 27%. It is being largely driven by predictive risk management which can make results more accurate than might have been the case otherwise. There has been a continually increasing demand for integrated data collection as well as superior analytics in social media, both of which are things that AI can be extremely useful for.
About 43% of the expected growth that this market is predicted to see will come from North America, but in spite of the fact that this is the case there is a dearth of professionals who are experienced with AI which can curtail potential future growth. Also, while Adobe and Apple are the biggest drivers of growth in the market as of right now, it bears mentioning that other companies are involved in the industry as well such as Amazon, Hootsuite and Meltwater which offers GrokNet as part of its social media AI product line.
Apart from the US, other countries such as China, Germany, the UK as well as Japan will be markets to look at for this sector as well. It will be interesting to see how things play out since the rather large market of India is notably absent from these findings. Whether or not this is prescient remains to be seen, since India was recently hailed as the most mature market for AI although a huge lack of AI specialists in that region might prevent the growth rate from peaking there.
Read next: 38% of US Adults Are Buying Things From Social Media, Here’s What Motivates Their Purchases
With all of that having been said and now out of the way, it is important to note that the expected annual growth rate for AI in the social media market is at around 27%. It is being largely driven by predictive risk management which can make results more accurate than might have been the case otherwise. There has been a continually increasing demand for integrated data collection as well as superior analytics in social media, both of which are things that AI can be extremely useful for.
About 43% of the expected growth that this market is predicted to see will come from North America, but in spite of the fact that this is the case there is a dearth of professionals who are experienced with AI which can curtail potential future growth. Also, while Adobe and Apple are the biggest drivers of growth in the market as of right now, it bears mentioning that other companies are involved in the industry as well such as Amazon, Hootsuite and Meltwater which offers GrokNet as part of its social media AI product line.
Apart from the US, other countries such as China, Germany, the UK as well as Japan will be markets to look at for this sector as well. It will be interesting to see how things play out since the rather large market of India is notably absent from these findings. Whether or not this is prescient remains to be seen, since India was recently hailed as the most mature market for AI although a huge lack of AI specialists in that region might prevent the growth rate from peaking there.
Read next: 38% of US Adults Are Buying Things From Social Media, Here’s What Motivates Their Purchases
