The “Social Media Management Market by Component (Solutions (Social Media Marketing, Social Media Asset and Content Management), Services), Deployment Mode, Organization Size, Application, (Sales and Marketing), Vertical – Global Forecast to 2026″ report has been added to ResearchAndMarkets.com’s offering.
The Social Media Management market size is projected to grow from USD 14.4 billion in 2021 to USD 41.6 billion in 2026, at a Compound Annual Growth Rate (CAGR) of 23.6% during the forecast period.
Companies Mentioned
- Adobe
- Agorapulse
- Brandwatch
- Buffer
- Clarabridge
- Digimind
- Eclincher
- Falcon.Io
- Hootsuite
- Hubspot
- IBM
- Khoros
- Mavsocial
- Meltwater
- Netbase
- Oracle
- Salesforce
- Sendible
- Socialbakers
- Sprinklr
- Sprout Social
- Synthesio
- Talkwalker
- Zoho
Based on component, the solutions segment is expected to lead the social media management market during the forecast period
The solutions segment of the social media management market is further segmented into social media marketing; social media listening, monitoring, and analytics; social media asset and content management; and social media risk and compliance management. This section discusses each solution subsegment’s market size and growth rate based on type (for selected subsegments) and region.
Based on deployment mode, cloud is expected to grow at a higher CAGR during the forecast period
The cloud-based deployment mode provides a solution to access the data remotely from various servers or data centers. These include servers, networks, storage, databases, analytical tools, and software platforms to deliver and access services over the internet. Its low cost of Operating Expenditures (OPEX) helps users pay per usage and invest more time and energy in concentrating on core business goals. In the cloud deployment mode, the social media management solution is offered as SaaS, and all the social media management workloads are cloud-based. IT infrastructure requirements of the customer, data redundancies, data availability, virtual private network setup (related to customer IT teams), setting security protocols and audits, configuration, and maintenance and updates are handled by social media management solution vendors. These solutions can be accessed through the internet anytime, anywhere, based on on-demand/pay-per-usage.
Based on organization size, medium-sized organization is expected to lead the social media management market during the forecast period
Based on organization size, the social media management market is segmented into small enterprises, medium-sized enterprises, and large enterprises. Social media management is growing at a robust rate due to the increasing number of smartphone users. The increasing trend of technological advancements is creating growth opportunities for small, medium-sized, and large enterprises. Organizations have started relying on social media solutions and services to maximize their geographical reach. Social media management tools to help organizations make quick and easy decisions. Organizations use social media management to provide up-to-date information by identifying, extracting, cleaning, analyzing, visualizing, and interpreting. The rising number of customers on social media platforms is increasing the growth rate of large enterprises, which would focus on customer retention. The deployment of social media management is helping companies understand customer sentiments about brands, trends, and competitors in the market and gather and analyze a vast amount of data from various platforms, such as Facebook, Twitter, Instagram, and LinkedIn.
Based on application, competitive intelligence segment is expected to grow at a higher CAGR during the forecast period
The competitive intelligence segment is projected to gain traction in the coming years, The competitive intelligence application in the social media management market incorporates all activities that a company undertakes to gain insights into what their competitors are doing, track their competitor’s activities, and any conversation that may be happening between a company and its competitor’s customers on social media networks. Social media networks can provide a plethora of information about customers and their experiences, needs, and perceptions. Using the right social media management solution, a company can track these conversations focused on itself and its competitors. This information can be used to increase the company’s market intelligence and create a competitive edge.
Based on vertical, BFSI segment is expected to lead the social media management market during the forecast period
The Banking and financial institutions have begun to move their business focus toward digital transformation acceleration, allowing them to reconsider their operational model operations. With the growing need for cloud-based application development tools and data analytics, top BFSIs are attempting to bring new technologies to market and leveraging hybrid cloud-based solutions to provide a higher value proposition and services to financial consumers.
APAC is expected to grow at a higher CAGR during the forecast period
Asia Pacific (APAC) has continually presented lucrative market opportunities for social media management Solutions providers with a notable increase in social media management across its developed and emerging countries. Australia, Japan, Singapore, China, and India have displayed ample growth opportunities in the social media management market. Owing to a rapidly proliferating technology-backed economical structure, APAC is expected to emerge as the fastest-growing region in social media management Solutions demand during the forecast period.
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