USD 15.15 billion
Global Social Media Management Market Size, Share, Growth Analysis, By Component(Solution, Service), By Application(Sales, Marketing Management), By Industry Vertical(BFSI, Retail), By Deployment(Cloud-based, On-premise), By Organization Size(Small and Medium Enterprises (SMEs) and Large Enterprises) - Industry Forecast 2024-2031
Report ID:
SQMIG45B2085 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
153 |
Figures:
80
Global Social Media Management Market Insights
Global Social Media Management Market size was valued at USD 15.15 billion in 2019 and is poised to grow from USD 18.57 billion in 2023 to USD 95.79 billion by 2031, growing at a CAGR of 22.76% in the forecast period (2024-2031).
Social media management is the process of gathering and evaluating audiences and developing targeted marketing and persuasion methods for a certain set of people or audiences. Social media management includes creating and distributing online content for social networks, monitoring online dialogues with customers and followers, engaging with influencers, providing community service, and monitoring, measuring, and reporting on social media performance and ROI.
During the pandemic, the increase in demand for work-from-home and remote-working policies contributed to the expansion of the global social media market, hence boosting the demand for social media management systems. In addition, the rising demand for conveniently available and condensed forms of entertainment and media has a beneficial effect on the expansion of the social media management market. However, data privacy and sharing issues on social media management platforms can hinder the market prediction for social media management. The integration of modern tools such as machine learning and data analytics with social media management solutions suites is anticipated to provide lucrative growth possibilities for the social media management market during the forecast period.
US Social Media Management Market is poised to grow at a sustainable CAGR for the next forcast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Solutions
Fastest Growth
Solutions
Growth Rate
22.76% CAGR
Global Social Media Management Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Social Media Management Market Size by Component, 2022-2028 ($ Bn)
Global Social Media Management Market Size by Component, 2022-2028 (%)
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Global Social Media Management Market Segmental Analysis
The global social media management market is segmented based on component, application, industry vertical, and region. Based on components, Social Media Management market is segmented into solutions and services. Based on application, the Social Media Management Market is segmented into sales and marketing management, customer experience management, competitive intelligence, risk management & fraud detection, and others. Based on industry vertical, the Social Media Management Market is segmented into BFSI, retail, and e-commerce, government and public sector, healthcare and life science, it and telecom, media and entertainment, manufacturing, and others. By Deployment, the Social Media Management Market is segmented into Cloud-based, On-premise. By organization size, the Social Media Management Market is segmented into Small and Medium Enterprises (SMEs) and Large Enterprises. Based on region, the global Social Media Management market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Social Media Management Market Analysis by Component
During the forecast period, the social media marketing solution accounted for the largest market share. Social media marketing is the use of tools and strategies to effectively engage and reach target audiences through various social media channels. Social media marketing utilizes social media channels to engage with an audience to build brand image, boost sales, and enhance website traffic. This includes publishing high-quality content on social media profiles, listening to and interacting with followers, assessing results, and executing. Social media engagement entails the management of current and prospective consumer interactions on a company's numerous social media networks. These are some of the factors propelling the demand for social media management solutions and driving the demand for social media management market growth during the analysis period.
Global Social Media Management Market By Component, 2021 (%), 2023 (%)
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Global Social Media Management Market Regional Insights
North America led social media management in 2021. The region has a high-risk tolerance and a tendency toward technical growth. This creates various chances for social media management companies. The region has many social media users and several management options. Social media marketing and customer interaction will drive regional social media management market demand during the forecast period.
Social media platforms generate a lot of data about how well a brand is doing, how influential a product is, how innovative a product is, and how well a campaign is doing. North Americans use social media management for campaigns, brands, marketing, advertising, and customer analysis. Small and medium-sized businesses and new businesses in the region can use digital media to build and promote their businesses, get more customers, and reach a wider audience without having to spend a lot of money on sales and marketing channels. Social media management has been used by Bank of America, L'Oréal USA, and American Airlines to get and keep customers in North America.
Global Social Media Management Market By Geography, 2022 - 2028, 2024-2031
- Largest
- Fastest
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Global Social Media Management Market Dynamics
Social Media Management Market Driver
Increasing focus on the market and competitive intelligence are driving market growth.
- As profit margins are affected by global competition, companies are always looking for technical ways to improve efficiency and cut costs. To beat the competition, companies must combine data about demographics, competitors, businesses, and customers. Organizations look at sales and markets to see where there are gaps. Customers now pay attention to brands. They want better products, lower prices, and faster and hassle-free shipping, these goals can be met with the help of advanced analytics which drives the social media management market demand.
- Social media management solutions look at unstructured data to adapt to changing market conditions, increase sales and profits, and interpret data in a way that makes sense. Organizations can get a lot of information about how customers feel about their brands so they can plan their marketing and sales. By looking at the competition and how customers act on social media, businesses can increase their market presence and get an edge over their rivals. Engagement, CRM, publishing, advertising, monitoring, and real-time analytics are all parts of social media management systems that are continuously on the raise and driving the demand for the social media management market throughout the analysis period.
Social Media Management Market Restraint
The evolution of data protection and privacy laws and regulations has restrained market growth in recent years.
- The evolution of data protection and privacy laws and regulations has affected social media in recent years. GDPR mandates firms to report breaches, protect data transmission, anonymize consumer data, and get client consent to process data. According to the rule, if a business breaches the privacy of its customers or employees through social media, or if an employee exposes secret stakeholder or customer information, they must pay large fines and risk legal action. These are some of the major factors restraining the market growth during the analysis period.
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Global Social Media Management Market Competitive Landscape
The social media management market is relatively fragmented, with a high level of competition. Few large players, like Adobe Inc., IBM Corporation, and Google LLC, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Social Media Management Market Top Player’s Company Profiles
- Adobe Inc. (US)
- IBM Corporation (US)
- Google LLC (US)
- Oracle Corporation (US)
- Salesforce Inc. (US)
- Sprout Social (US)
- Hootsuite (Canada)
- Meltwater (Netherlands)
- Sprinklr (US)
- Digimind (France)
- HubSpot (US)
- Clarabridge (US)
- Khoros (US)
- Falcon.io (Denmark)
- Zoho Corporation (India)
- NetBase (US)
- Brandwatch (UK)
- Sendible (UK)
- MavSocial (US)
- Emplifi, Inc. (US)
- Synthesio Inc. (US)
- eClincher (US)
Social Media Management Market Recent Developments
- In June 2022, salesforce Inc. announced its new product customer 360 innovations in different platforms such as commerce and marketing cloud that allow building a better relationship with customers at a large scale.
- In March 2022, Adobe announced its new features embedded across Adobe Experience Cloud that are driven by Adobe Sensei, Adobe's artificial intelligence engine. These new capabilities, which enable organizations to provide seamless customer journeys, are based on the hundreds of AI and machine learning advancements already incorporated in Adobe's products.
- In March 2022, Hinduja Global Solutions, technology services division, HGS Digital LLC, announced cooperation with Khoros. The agreement advances the organizations’ common purpose of assisting the most renowned brands in the world to deliver frictionless CX with solutions to boost customer engagement, increase brand loyalty, optimize operations, decrease costs, and generate revenue.
Global Social Media Management Key Market Trends
- Communication has been revolutionized by social media. Twitter, Instagram, Facebook, and a plethora of other apps have provided everyone with a simple and quick way to communicate with friends, family, and like-minded individuals from around the world. Social media has evolved into an important tool for interacting with the outside world and attracting new audiences. Numerous QSRs use social media to stay in touch with customers, particularly the current generation. This method helped Wendy's earn millions of Twitter followers, helping them to compete in the American fast-food industry. The scope of social media indicates potential growth for the social media management market during the analysis period.
Global Social Media Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global social media management market is segmented based on component, application, industry vertical, and region. During the pandemic, the increase in demand for work-from-home and remote-working policies contributed to the expansion of the global Social Media Management market. Social media marketing is the use of tools and strategies to effectively engage and reach target audiences through various social media channels. North America has a high-risk tolerance and a tendency toward technical growth. The region has many social media users and several management options. These are some of the factors propelling the demand for social media management solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 15.15 billion |
| Market size value in 2031 | USD 95.79 billion |
| Growth Rate | 22.76% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Social Media Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Social Media Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Social Media Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Social Media Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Social Media Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Social Media Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Social Media Management Market Report Snapshots
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