Artificial Intelligence-based Personalization: Introduction
- Implementation and adoption of artificial intelligence technology in all sectors changes the overall shape of the market. Artificial intelligence-based personalization is a software that uses artificial intelligence to provide the right content at the right time for individual site visitors, based on what they have seen or consumed in the past search.
- Artificial intelligence-based personalization software creates data models to derive insights and in turn builds prescriptive or predictive decision engines. End-users use artificial intelligence-based personalization software to make better data-driven decisions and for forecasting the demand.
- The global artificial intelligence-based personalization market is projected to expand at a rapid pace during the forecast period, due to advancement in technologies across the globe.
Global Artificial Intelligence-based Personalization Market: Dynamics
Global Artificial Intelligence-based Personalization Market: Key Drivers
- At present, online marketing is booming and personalization has become an important factor in online marketing for analysis of individual choice, which is thus estimated to boost the artificial intelligence-based personalization market during the forecast period.
- Increasing demand for easy analysis of data and simplification of workflow is projected to fuel the artificial intelligence-based personalization market during the forecast period.
- Predictive personalization uses data analysis and profiling tools to adapt content in real-time to optimize conversions automatically. Thus, growing need to adapt content in real-time to optimize conversions automatically is projected to fuel the artificial intelligence-based personalization market in the forthcoming years.
- Implementation of machine learning, augmented and prescriptive intelligence, and artificial intelligence also enables analysts to forecast markets with greater accuracy, which is a major factor that is likely to propel the artificial intelligence-based personalization market in the next few years
- Rise in need to generate more revenue, enhance end-user experience, and interaction with the physical environment to accomplish diverse activities and improve productivity across the globe is estimated to boost the artificial intelligence-based personalization market during the forecast period
- However, lack of awareness leading to low rate of adoption of artificial intelligence by small and medium size businesses is expected to hinder the artificial intelligence-based personalization market during the forecast period
- Lack of skilled staff and incompatibility issues with infrastructure is also anticipated to hinder the artificial intelligence-based personalization market during the forecast period
Impact of COVID-19 on the Global Artificial Intelligence-based Personalization Market
- Increasing cases of COVID-19 across the globe is resulting in economic slowdown and millions of employees are working from home for the first time, during this pandemic. This is expected to change the conservative corporate culture. Hence, demand for better observation, study, and analysis of market conditions and data is increasing during this pandemic. This is expected to continue during the forecast period. Hence, COVID-19 has a positive impact on the artificial intelligence-based personalization market. This is projected to indirectly propel the global artificial intelligence-based personalization market in the next few years.
North America to Hold Major Share of the Global Artificial Intelligence-based Personalization Market
- In terms of region, the global artificial intelligence-based personalization market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global artificial intelligence-based personalization market with the largest share mainly because of the presence of developed economies, such as the United States and Canada. The U.S. is a key market in the region due to the early adoption and implementation of artificial intelligence-based personalization software.
- The artificial intelligence-based personalization market in Asia Pacific is projected to expand at a rapid pace during the forecast period. Increasing digitalization and growth of the IT sector is projected to create lucrative opportunities for the artificial intelligence-based personalization market in the near future.
Global Artificial Intelligence-based Personalization Market: Competition Landscape
Several local, regional, and global players are active in the artificial intelligence-based personalization market with a strong presence. Rapid technological advancements have created significant opportunities in the market.
Key Players Operating in the Global Artificial Intelligence-based Personalization Market Include:
- Alphabet Inc.
- IBM Corporation
- Apple Inc.
- Microsoft Corporation
- Check Point Software Technologies
- Oracle Corporation
- Accenture Plc
- Cisco System Inc.
Global Artificial Intelligence-based Personalization Market: Research Scope
Global Artificial Intelligence-based Personalization Market, by Type
- Website Personalization
- Display Ads Personalization
- Social Media Personalization
- E-mail Personalization
Artificial Intelligence-based Personalization Market, by Technology
- Machine Learning and Deep Learning
- Natural Language Processing
Global Artificial Intelligence-based Personalization Market, by Application
- Media & Entertainment
Global Artificial Intelligence-based Personalization Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- Artificial Intelligence in Stock
- Machine Learning in Trading
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.