Artificial Intelligence (AI)-based personalization market to grow by $634.32 billion by 2032, at a CAGR of 4.23% – Market Research Future (MRFR)

Future of market research

Future of market research

Future of market research

AI-Powered Personalization Marketplace: Transforming customer experiences with intelligent insights.

New York, USA, May 31, 2023 (GLOBE NEWSWIRE) — According to the research report published by Market Research Future (MRFR), AI-powered personalization market Research Report Information by Type, Region and Application – Forecast To 2030, the global AI-powered Personalization market is projected to grow sharply during the overhaul era from 2023 to 2032 with a substantial growth rate of approximately 4.23%. Reports also predict that the market will capture nearly $634.32 billion by the end of 2032. According to the documents, the AI-powered personalization market was valued at nearly $442.28765 billion in 2023.

Market scope:

Personalization of products and services has become a crucial aspect of the marketing and customer engagement strategy of almost every company, large and small. Natural language processing, artificial intelligence, and machine learning enable technologies such as personalized web and mobile applications, personalized web and advertising experiences, along with voice-based virtual assistants. AI-powered personalization has become crucial for retailers, media, finance, online businesses and healthcare. This has caused the need for an AI-based personalization market, which is booming. The global AI-based personalization industry has recently demonstrated immense development. The main metric causing a surge in market performance is the growing growing demand for personalized customer experiences; A few major trends have been noticed in the AI-powered personalization market. Furthermore, the rapidly growing adoption of AI technology is also considered to be one of the crucial parameters for enhancing the market performance across the globe.

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Competitive Analysis:

The list of prominent leaders in the global AI-powered personalization market includes such players as:

  • IBM company

  • Salesforce.com Inc.

  • Adobe Inc.

  • SAP SE

  • Oracle company

  • Microsoft Corporation

  • Google Inc

Scope of the Report – AI-Based Personalization Market:

Reporting metrics

Details

Market size by 2032

USD 634.32 billion

CAGR in the period 2023-2032

4.23%

Reference year

2022

Forecast

2023-2032

Report coverage

Revenue forecast, market competitive landscape, growth drivers and trends.

Regions covered

North America, Europe, Asia Pacific and Rest of the World

USP market covered:

Market Drivers:

The global AI-based personalization industry has recently demonstrated immense development. The main metric causing a surge in market performance is the growing growing demand for personalized customer experiences; A few major trends have been noticed in the AI-powered personalization market. Furthermore, the rapidly growing adoption of AI technology is also considered to be one of the crucial parameters for enhancing the market performance across the globe. Additionally, the rise of mobile technology, IoT, and in-store shopping are also expected to boost market performance during the evaluation period. Furthermore, factors such as the rise of big data and analytics, cost-effective analysis of customer data, and the growing interest in real-time personalization are also likely to catalyze the development of the global market in the coming years.

Market restrictions:

Conversely, some parameters may limit the development of the market. The main parameter limiting market development is the high associated costs.

Impact of COVID-19:

The COVID-19 pandemic has had a huge impact on various industrial areas around the world. The AI-powered personalization market is no different. The market has suffered a tremendous setback during the pandemic as several industrial and manufacturing activities were disrupted. However, with the world recovering from the impact caused by the global health hazard, the market is expected to grow significantly in the coming years.

Browse in -depth Market Research Report (Graphs, Tables, Figures) on AI-powered Personalization Market:
https://www.marketresearchfuture.com/reports/artificial-intelligence-based-personalization-market-11654

Segment analysis:

Among all solutions, the Software Services segment is expected to secure the leading position in the global market for AI-powered personalization during the evaluation period. The main metric supporting the development of the segment is the growing adoption of cloud-based solutions and services by various companies, as they are cost-effective, offer a simple interface, and have better scalability.

Among all end users, the retail and e-commerce sector is expected to secure the leading position in the global AI-powered personalization market during the evaluation period. The main metric supporting the segment’s development is its focus on delivering personalized consumer experiences at scale. Conversely, the media and entertainment segment is expected to show the highest growth rate in the coming years given the shift towards digital offerings.

Regional analysis:

The global AI-powered personalization market is studied into five major parts: Asia-Pacific, Europe, North America, Latin America and Central and Africa.

Research reports from MRFR suggest that the North American region held the top position in the global AI-powered personalization industry in 2020. The main metric supporting the development of the regional market is the prevalence of AI and Big Data technologies in the whole region. In addition, the presence of major market players such as Adobe and IBM throughout the region is expected to enhance regional market performance during the evaluation period.

The European regional AI-based personalization market is expected to show rapid development in the coming years. The growing investment in digitization is considered the main parameter supporting the trend of the regional market.

The Asia-Pacific regional AI-based personalization market is expected to show the peak growth rate in the coming years given its fast-growing economy and huge consumer base.

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Insights into the future of market research:

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