Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Media Monitoring Tools Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
Global Media Monitoring Tools Market Report explores soaring demand for Real-Time Analytics and Advanced AI Implementation
This industry analysis on the rapidly expanding Media Monitoring Tools market provides key insights into the sector's advancement and the technologies fueling its growth. This comprehensive report illuminates the significant surge in market value, projected to leap from $4.44 billion in 2023 to a robust $5.1 billion in 2024, marking a compound annual growth rate (CAGR) of 14.8%. The escalation is powered by a spectrum of factors including an intensified focus on reputation management and a burgeoning need for multilingual and real-time monitoring solutions.
As companies across the globe integrate Artificial Intelligence (AI) and machine learning into their operations, the market anticipates an even more impressive trajectory leading up to 2028, with expectations to hit $8.98 billion at a CAGR of 15.2%. This notable expansion is attributed to enhanced real-time monitoring capabilities, comprehensive social media scrutiny, and reinforced data privacy protocols, alongside the market's expansion into various global territories.
Driving Factors Behind the Media Monitoring Tools Market Evolution
- Rise in Social Media Utilization: With social media becoming an integral component of daily life—as highlighted by a massive user base of 4.74 billion worldwide—the demand for sophisticated media monitoring tools continues to soar, especially in regions like North America where a staggering 76% of individuals are engaged on social platforms.
- Increased Internet Penetration: Boosts in internet connectivity around the world, particularly in countries like China, are prompting the creation and consumption of digital content, further stoking the need for robust media monitoring services.
Technological Innovation: A Key Market Trend
The report pinpoints technological innovation as a primary trend within the sector, with leading firms such as Onclusive debuting advanced media monitoring products like Essentials and Pro. These tools provide scalable intelligence and measurement, optimized for diverse team sizes, underscoring the industry's shift towards more dynamic and efficient media monitoring solutions.
Strategic Expansion and Product Development
Emerging innovations continue to marquee the market, with product offerings like the Brand Love Benchmarking solution. These tools evaluate consumer sentiments towards brands, utilizing cutting-edge AI to impart valuable 'Brand Love Scores' based on passion, trust, and customer satisfaction—essential metrics for businesses aiming to gauge public perception and position themselves competitively.
Market Composition and Applications
The report meticulously categorizes the market into various components, including software and services capable of on-premise or cloud deployment. Covering a gamut of media like print, social, broadcast, online, and more, these tools find crucial applications in sectors ranging from customer experience and PR management to digital marketing. The analysis encapsulates an array of industries benefitting from these advancements—healthcare, BFSI, IT, telecom, and retail, to name a few.
Geographic and Component Insights
This sprawling market is predominantly driven by North America's influential position, as documented in 2023. An extensive breakdown of regional dynamics and country-specific developments is provided, alongside critical commentary on the diverse applications and end-users of media monitoring tools, offering a holistic view of this eclectic industry.
A selection of companies mentioned in this report includes:
- Agility PR Solutions LLC
- BoomSonar Suite
- Burrelle's Information Services LLC
- Cision US Inc.
- Coosto
- Hootsuite Inc.
- Lucidya LLC
- M-Brain Group
- Meltwater
- SemanticForce
- Snap Trends Inc.
- Sprinklr Inc.
- YouScan
- Buzzcapture BV
- Ubermetrics Technologies GmbH & Co KG
- Critical Mention
- Talkwalker
- Mention
- Brand24 Global Inc.
- Brandwatch
- TrendKite
- BuzzSumo Limited
- Cyfe Inc.
- SumAll Inc.
- Tailwind
- Oracle Corporation
- Alphabet Inc.
- Pinterest Inc.
- Twitter Inc.
- Salesforce.com Inc.
- Glean.info
- TVEyes Inc.
For more information about this report visit https://www.researchandmarkets.com/r/hafi86
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
