Generative AI in digital marketing hits $2.48B in 2024, set to explode to $35B by 2034
The global generative artificial intelligence market in digital marketing reached $2.48 billion in 2024, with a blistering CAGR of 30.83% since 2019. It’s forecasted to skyrocket to $9.46 billion by 2029 and then hit $35.12 billion by 2034, growing near 30% annually.
Growth drivers include boosted digital adoption, rising e-commerce, smartphone and internet penetration, plus major AI advances. Dragging growth are privacy concerns and heavy dependence on quality data. Risks loom from misinformation, deepfakes, and tech complexity. 
North America dominates at $836 million in 2024 (33.66%), followed by Asia-Pacific and Western Europe. Asia-Pacific and Middle East will see the fastest future growth—36.09% and 33.70% CAGR respectively.
Software leads the market segment (63.56% or $1.57B in 2024). Services, however, will be fastest growing at 33.47% CAGR by 2029. Content generation is the top application hold, 32.93% or $817.8M, also fastest growing at 35.79%. Search engine marketing leads channels (47.88% or $1.18B), with mobile marketing growing fastest at 38.02%.
The market is fractured. Top 10 players control just 15.2%. IBM leads with 3.48%, then Google (2.03%), Microsoft (1.53%), Meta (1.39%), and Amazon (1.32%).
Key market moves:
- Appier Workplace acquired AdCreative.ai
- Canva acquired Leonardo.ai
- Hootsuite acquired Talkwalker
Top strategies focus on AI ad suites, video tools, creative automation, plus ramping up services and mobile marketing. Analysts push firms to chase AI video advertising, multichannel content, emerging markets, and strategic partnerships.
Major players profiled: IBM, Google, Microsoft, Meta, Amazon.
Full report: ResearchAndMarkets.com
