Pune, April 05, 2023 (GLOBE NEWSWIRE) -- As per the report from SNS Insider, the size of Social Media Management Market was assessed to be USD 18.57 billion in 2022, and it is projected to attain USD 95.79 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 22.76% during the estimated duration of 2023-2030.
Market Overview
With the increasing importance of social media in today's digital age, businesses, and organizations are leveraging social media management tools and services to enhance their online presence and reach out to their target audience. These tools and services help businesses to streamline their social media activities, create engaging content, track social media analytics, and optimize their social media strategy to achieve their marketing goals.
Market Analysis
The social media management market is being primarily driven by the increasing adoption of social media platforms by businesses to enhance their online presence, engage with customers, and promote their products and services. Additionally, the rising importance of social media analytics in understanding consumer behavior and making data-driven business decisions is also contributing to the growth of this market. The proliferation of social media platforms and the growing need for organizations to manage their social media presence effectively are other factors fueling the demand for social media management solutions. Moreover, the integration of advanced technologies such as AI, machine learning, and natural language processing into social media management tools is expected to provide new growth opportunities for the market in the coming years.
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Key Company Profiles Listed in this Report Are:
- Adobe Inc.
- IBM
- Oracle Corporation
- Salesforce.com
- Sprout Social, Inc.
- Hootsuite
- Sysomos
- Sprinklr
- Digimind
Impact of Russia-Ukraine Conflict on Social Media Management Market Growth
The Russia-Ukraine conflict is likely to have a significant impact on the social media management market. Companies operating in this market will need to be prepared to adapt to changing regulations and priorities, as well as to navigate the complexities of doing business in a politically volatile region.
Key Regional Developments
The social media management market in North America has been thriving due to the region's proclivity towards technological advancements and the increasing involvement of people in various social media platforms. With a significant presence of global players in the market, North America has been able to lead the charge in terms of revenue generation. One of the primary reasons for the growth of social media management in the region is the early adoption of advanced technology solutions. As a result, companies in North America have been at the forefront of using social media management analytics to create insights into consumer behavior.
Social Media Management Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 18.57 Billion |
| Market Size by 2030 | US$ 95.79 Billion |
| CAGR | CAGR of 22.76% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Social Media Management Market: Key Segmentation | • by Component (Solutions, and Services) • by Application (Sales and Marketing Management, Customer Experience Management, Competitive Intelligence, Risk Management and Fraud Detection, and Others) • by Deployment Mode (Cloud and On-premises) • by Vertical (BFSI, Retail and Consumer Goods, Government and Public Sector, Healthcare and Life Sciences, IT and Telecom, Media and Entertainment, Manufacturing, Travel and Hospitality, and Others) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
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Key Takeaway from Social Media Management Market Study
- According to SNS Insider, it has been predicted that the solutions segment will emerge as the dominant player in the market. This segment is expected to offer a range of innovative solutions and services that will enable businesses to manage their social media presence effectively.
- The cloud segment is expected to take the lead in the market in the coming years. This segment is poised to offer a range of advanced cloud-based solutions and services that will enable businesses to manage their social media activities more efficiently and effectively.
Recent Developments Related to Social Media Management Market
- Social Neeti, a leading digital marketing agency, has been awarded the digital mandate for Tynimo, a lifestyle brand that offers an array of unique and trendy products. The partnership is expected to help Tynimo enhance its online presence and reach a wider audience. The agency will leverage its expertise and experience to help Tynimo engage with its target audience and drive more traffic and sales to its website.
- Keywords, a leading global provider of digital services and solutions, has announced its acquisition of Digital Media Management, a well-known social media and online marketing agency. The move is expected to significantly expand Keywords' capabilities in these areas and strengthen its position as a full-service digital agency.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Social Media Management Market Segmentation, By Component
9. Social Media Management Market Segmentation, By Application
10. Social Media Management Market Segmentation, By Deployment Mode
11. Social Media Management Market Segmentation, By Vertical
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion
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