NEW YORK, Nov. 13, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global artificial intelligence market size is estimated to grow by USD 41.02 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 30.9% during the forecast period. Rise in adoption of cloud-based applications and services is driving market growth, with a trend towards increasing digitalization and internet penetration. However, lack of skilled professionals poses a challenge.Key market players include Accenture Plc, Adobe Inc., Alphabet Inc., Amazon.com Inc., Appier Group Inc., CognitiveScale, GUMGUM Inc., InsideSales, Intel Corp., International Business Machines Corp., Meta Platforms Inc., Microsoft Corp., NVIDIA Corp., Oculus360, Oracle Corp., Persado Holdings plc, Salesforce Inc., Samsung Electronics Co. Ltd., and SAP SE.

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Key Market Trends Fueling Growth

The digitalization trend is driving the global economy forward by collecting, organizing, and enhancing data for innovative uses. With over 5 billion internet users worldwide, representing 63% of the global population, and 4.65 billion social media users, the availability of vast user data is a significant market opportunity. In the US, there were 298.8 million internet users in January 2021, a 3.7% increase from 2020. Internet penetration in the US reached 90%, with the average user spending 32 hours online per month, 16 hours more than the global average. AI’s integration into social media marketing is increasing, with platforms like Pattern 89 and HubSpot using AI to manage and optimize ad campaigns. AI-generated commercials analyze campaign success and offer recommendations for improvement, contributing to market expansion globally. 

Artificial Intelligence (AI) is revolutionizing marketing by providing personalized experiences for consumers. Companies like Youper use AI for mental health care and emotional health support through personalized conversations based on psychological techniques. AI enables product-driven marketing strategies by analyzing customer data, including purchase history and browsing behavior, to deliver customized recommendations. AI also enhances customer service and support by automating decisions based on data collected and analyzed. Businesses employ AI marketing software for email marketing campaigns, social networks, and smartphone assistants to meet advertiser’s objectives and cater to their target market with messaging tailored to individual preferences. AI interprets IoT-generated data to improve customer experience, order repetition, and customer loyalty. High-speed internet and digital interactions enable real-time ad targeting and personalized ad experiences. AI-driven marketing strategies contribute significantly to business development by enhancing customer satisfaction and improving overall performance. 

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Market Challenges

The integration of Artificial Intelligence (AI) in marketing is a growing trend, yet the lack of technical expertise within workforces poses a challenge for market expansion. End-users must have a solid understanding of AI software platforms and the ability to perform regular updates to ensure smooth operations. The fear of technical complexities often deters companies from implementing AI in social media platforms. Before adopting AI/ML algorithms on a large scale, businesses must carefully consider suitable use-cases. These investments can be substantial, making AI an unattainable luxury for many companies. The shortage of AI expertise is hindering the development of advanced AI technology. Currently, the industry focuses on creating narrow AI, resulting in slower adoption rates in industries like advertising. However, the advancement of AI has also led to the creation of new jobs and training opportunities. Despite this, the shrinking AI developer community could negatively impact the global AI in marketing market expansion during the forecast period.Artificial Intelligence (AI) is revolutionizing marketing by providing innovative services and solutions. However, businesses face challenges in implementing AI in areas like customer support, content curation, search engine marketing, social media advertising, and sales & marketing automation. Services require integrating AI with existing systems, while customer support needs context-aware computing for effective solutions. Virtual assistants and sales solutions offer personalized experiences, but require natural language processing and computer vision capabilities. Analytics platforms and machine learning offer real-time data insights, essential for customer-centric marketing strategies. Healthcare industry marketing benefits from AI in patient engagement, dynamic pricing, and offering personalized care to potential patients based on demographic trends. Challenges include hardware requirements, cloud vs. On-premises deployment, and integrating AI with search advertising and dynamic pricing. AI research in generative technology and natural language processing holds great potential. Overall, AI in marketing offers significant benefits, but requires careful planning and implementation.

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Segment Overview

This artificial intelligence market report extensively covers market segmentation by

Deployment 1.1 On-premises1.2 CloudGeography 2.1 North America2.2 APAC2.3 Europe2.4 Middle East and Africa2.5 South America

1.1 On-premises- The on-premises segment of Artificial Intelligence (AI) in Marketing is projected to experience significant growth in market revenue compared to cloud-based deployment during the forecast period. On-premise marketing, also known as merchandizing and local store marketing, enables businesses to reach customers in real-time. Retailers, including department and grocery shops, restaurants, showrooms, and vehicle dealers, employ on-premise marketing to influence customer behavior. AI and machine learning (ML) technologies are increasingly used in on-premise marketing, offering targeted, real-time advertising and customer behavior analytics. Companies like Advertima Vision AG provide AI-based customer behavior analytics platforms, offering smart signage and targeted advertising without relying on facial recognition. SPAR, Volvo, and Mercedes-Benz are among its clients. On-premises deployment of AI applications offers advantages such as higher security, control, and reduced total cost of ownership, making it a preferred choice for organizations dealing with sensitive data. The adoption of on-premises AI solutions contributes to market growth during the forecast period.

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Research Analysis

Artificial Intelligence (AI) is revolutionizing marketing strategies by enhancing efficacy and efficiency in various ways. AI-based technology analyzes consumer behavior through data filtering, predictive analytics, and real-time data to create targeted marketing campaigns. Social media marketing and commercials are improved with personalized conversations using chatbots. In healthcare industry marketing, AI assists in on-site engagement, conversion, and catering to potential patients based on demographic trends. AI-driven marketing strategies in mental health care platforms like Youper use emotional health analysis, personalized conversations, and psychological techniques to provide a superior overall patient experience. AI’s product-driven marketing strategy focuses on understanding consumer needs, while a customer-centric strategy ensures tailored interactions for each demographic group. AI’s role in marketing is transformative, reducing marketing expenditure and maximizing conversion rates.

Market Research Overview

Artificial Intelligence (AI) is revolutionizing marketing strategies by bringing efficacy and efficiency to various aspects of marketing expenditure. AI-based technology, such as predictive analytics, sentiment analysis, and machine learning algorithms, is transforming how businesses understand consumer behavior and preferences. AI marketing plans utilize data filtering and real-time analysis to optimize social media marketing, commercials, and digital communication. Virtual assistants, chatbots, and context-aware computing offer personalized customer relationship services and sales & marketing automation. AI skills are essential for businesses to automate keyword research, market expansion, and content curation in search engine marketing and social media advertising. The healthcare industry is leveraging AI for patient engagement, dynamic pricing, and overall patient experience. Generative AI research is exploring new offerings in mental health care, emotional health, and personalized conversations using psychological techniques. AI technology is also being deployed in the enterprise and BFSI industries for hardware, cloud, and on-premises solutions, as well as sales solutions and analytics platforms using natural language processing and computer vision. AI is transforming marketing by providing customer-centric strategies, virtual assistant applications, and real-time data analysis for demographic trends and conversion optimization.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentOn-premisesCloudGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Electra’s EL9 Redefines Air Travel Without Airports, Emissions, or Noise

MANASSAS, Va., Nov. 13, 2024 /PRNewswire/ — Electra.aero, Inc. (Electra) today revealed the design of its groundbreaking EL9 Ultra Short hybrid-electric product aircraft, a nine-passenger piloted aircraft built for the electric future that redefines air travel without airports, emissions, or noise. Electra now enters the development phase of the EL9 backed by over a year of successful flight testing of its EL2 Goldfinch two-seat prototype, proving the technology’s readiness for the future of electric aviation.

Electra’s innovative EL9 hybrid-electric propulsion system with blown lift technology enables ultra-short takeoffs and landings in soccer field-size spaces previously limited to helicopters and eVTOLs, but at one-third the cost and with the improved safety and reliability of a fixed-wing aircraft. This unlocks thousands of new locations for direct air service, including small regional airports or unconventional sites like grass fields or parking lots, offering seamless point-to-point regional connectivity for both passengers and cargo. The EL9 aircraft operates with far lower emissions and noise than conventional planes, while its hybrid-electric power system provides extended range and inflight battery recharging, with no ground charging stations required.

“Today’s reveal of the EL9 showcases the dedication of our incredible team and partners,” said Marc Allen, CEO of Electra. “This aircraft is more than a new design—it’s the gateway to a cleaner, quieter, and more affordable future for regional travel. With the EL9, we’re not just making sustainable aviation a reality, we’re redefining how people and cargo move through Direct Aviation, a new category of safe and seamless travel that brings air mobility closer to where we live, work and play.”

The EL9 combines blown lift technology with distributed electric propulsion using four independent battery packs and a small turbine-powered generator that drives eight electric motors distributed along the wing to provide high lift at low airspeeds. The aircraft can take off and land in as short as 150 feet, and cruises at 175 knots. With range and payload to fly missions that matter, the EL9 will carry nine passengers with baggage or 3,000 pounds of cargo for 330 nautical miles, and has a maximum ferry range of 1,100 nautical miles with IFR reserves. It will be certified for IFR and flight into known icing conditions. While the EL9 will be equipped with two pilot crew stations, Electra’s Safe Single Pilot technology with fly-by-wire controls will enable ease of precision landings for a single pilot.

Electra has over 2,100 orders for the EL9 from 52 operators worldwide, representing more than $8 billion in market value. The first test flights are planned for 2027, with certification and service entry anticipated in 2029 under FAA Part 23 regulations.

The EL9 design was presented at Electra’s headquarters in Manassas, Virginia, to an audience of more than 300 guests, including leaders from the aerospace industry, partners, customers, government officials, media, and friends.

About Electra  
Electra.aero, Inc.  (Electra) is a next-gen aerospace company pioneering direct aviation, the next level of connectivity that will bring air travel closer to where we live, work, and play. The company is building clean tech, hybrid-electric Ultra Short airplanes that fly people and cargo seamlessly without airports, emissions, or noise. Electra’s Ultra Short technology delivers 2.5x the payload and 10x longer range with 70% lower operating costs than helicopters and eVTOLs with far less certification risk. Electra’s team includes some of the most respected and successful entrepreneurs and engineers in novel aircraft design, with over 40 prior aircraft successfully developed and/or certified. Lockheed Martin Ventures, Honeywell, and Safran are among Electra’s strategic investors along with the Virginia Innovation Partnership Corporation (VIPC), Statkraft Ventures, and other private investors. Electra’s contracted customers include NASA, the U.S. Air Force, the U.S. Army, and the U.S. Navy, along with over 2,000 aircraft under Letters of Intent from 50+ commercial customers, including both airlines and helicopter operators.  

Investors
Diana Siegel
investors@electra.aero 

Media  
Barbara Zadina
Zadina.barbara@electra.aero 

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SOURCE Electra.aero

Apogee Indigo launches app at WTE Miami 2024, transforming travel with exclusive savings on Miami’s dining, attractions & experiences. Now available on Google Play & iOS!

MIAMI, Nov. 13, 2024 /PRNewswire/ — Apogee Indigo today announced the successful release and testing of their app at WTE Miami 2024, held between October 22-23, where it was showcased to a global audience of travel industry professionals. This launch marked a significant step in Apogee Indigo’s mission to enhance the tourism experience with innovative digital-based solutions. Created specifically for travelers, the app is designed to offer exclusive savings on Miami’s Dining, Attractions & Experiences, making it easier and more affordable to explore the city.

“We’re thrilled to launch our app in Miami, with plans to expand to more than 20 destinations in the US in the near term,” said Ric Roth, Founder & President of Apogee Indigo. “WTE Miami 2024 provided the ideal platform to introduce our app, and the positive feedback we’ve received reaffirms our belief that this is just the beginning of a new era in travel savings and tailored experiences.”

Apogee Indigo is excited to sign nearly 100 distribution partners during and immediately after the event and invites travel professionals from all over the world to become distribution partners.

The Apogee Indigo app is now available for download on Google Play and the iOS App Store, enabling travelers to discover and enjoy substantial savings on Dining, Attractions & Experiences.

About Apogee Rewards, Inc.

Apogee Rewards, Inc. is a Miami-based company that was developed by the founders of Primecard, a membership-based discount program. The mission of Apogee is to provide travelers with a revolutionary way to explore the world. Travelers can plan their curated dining, entertainment, attractions, shopping, and experiences more effectively through the Apogee Indigo app while taking advantage of great savings at their upcoming travel destinations.

Launched in 2023, Apogee Indigo also helps promote local businesses that are looking to tap into the travel industry. Apogee Indigo pre-purchases products from a majority of Merchant Partners, especially restaurants, and provides industry-leading marketing practices to drive customers through their doors. For more information, including how to become a Merchant Partner, visit www.apogeeindigo.com.

Press Contact:

Rohan Roy
Phone
954-932-8950
https://www.apogeeindigo.com

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SOURCE Apogee Rewards, Inc.