Pune, India, July 17, 2023 (GLOBE NEWSWIRE) -- According to Recently Published Report by The Insight Partners, “Social Media Management Market Size Report and Forecast to 2028 - COVID-19 Impact and Global Analysis By Component, Deployment, Enterprise Size, Application, and Vertical”; the market size is expected to grow from $17.31 billion in 2022 to $63.74 billion by 2028; it is estimated to grow at a CAGR of 24.3% during 2022–2028.
Download Sample Pages: https://www.theinsightpartners.com/sample/TIPRE00003875
Global Social Media Management Market – Report Scope:
| Report Coverage | Details |
| Market Size Value in | USD 17.31 Billion in 2022 |
| Market Size Value by | USD 63.74 Billion by 2028 |
| Growth rate | CAGR of 24.3% from 2022 to 2028. |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 221 |
| No. of Tables | 137 |
| No. of Charts & Figures | 104 |
| Historical data available | Yes |
| Segments covered | Component, Deployment, Enterprise Size, Application, and Vertical |
The United States, as a major part of the North America region, has played a significant role in dominating the social media management market. The country's technological advancements, economic strength, and influential social media platforms have fueled its dominance and contributed to the market's growth. Firstly, the United States has been at the forefront of technological innovation, particularly in social media. Many of the leading social media management platforms and tools have been developed by American companies. This technological expertise has given the United States a competitive advantage, as its homegrown solutions are widely adopted domestically and globally. Secondly, the economic strength of the United States has created a profitable environment for the growth of the social media management market. The country has a robust business ecosystem, with many enterprises and startups leveraging social media as a key marketing and communication channel. This has created a high demand for social media management services and solutions, driving the market's expansion.
Additionally, influential social media platforms headquartered in the United States have further propelled its dominance. Companies like Facebook, Twitter, and LinkedIn have revolutionized how people connect, share information, and engage with brands online. Their massive user bases and global reach have made them crucial platforms for businesses to establish an online presence, resulting in a heightened demand for social media management services. Moreover, the United States has a vibrant entrepreneurial culture and startup ecosystem that has significantly contributed to the growth of the social media management market. The country has witnessed the emergence of numerous innovative startups specializing in various aspects of social media management, including content creation, influencer marketing, social media analytics, and community management. These agile and creative companies have introduced novel solutions and pushed the boundaries of social media management, further expanding the market. A culture of data-driven decision-making has also fueled the United States' dominance in the social media management market. Businesses in the country strongly emphasize metrics and analytics to measure the significance of their social media strategies. This focus on data has led to a growing need for tools and platforms that can provide in-depth insights, track key performance indicators, and optimize social media performance, contributing to the market's growth. Overall, the United States technological prowess, economic strength, influential social media platforms, entrepreneurial ecosystem, and data-driven approach have played crucial roles in its social media management market domination. The country's contributions have not only driven its market growth but have also had a significant impact on the global landscape of social media management.
Browse key market insights spread across 221 pages with 137 list of tables & 104 list of figures from the report, "Social Media Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Service), Deployment (On-Premise and Cloud based), Enterprise Size [Small and Medium Enterprises (SMEs) and Large Enterprises], Application (Sales and Marketing Management, Customer Experience Management, Competitive Intelligence, and Risk Management and Fraud Detection), and Vertical (IT and Telecom, BFSI, Healthcare, Media and Entertainment, Retail, and Others)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/social-media-management-market
Global Social Media Management Market Analysis: Competitive Landscape and Key Developments
Adobe; IBM Corporation; Google LLC; Oracle Corporation; Salesforce.com, inc.; HubSpot, Inc.; Zoho Corporation Pvt. Ltd.; Meltwater; Brandwatch; and Sprout Social, Inc. are a few of the key companies operating in the social media management market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
In October 2021, Sprinklr, a social media management company, launched the second iteration of its a customer service solution Sprinklr Modern Care, which includes sophisticated AI and automation to enable businesses unify case management and agent engagement in a single contact center software solution.
In June 2021, Salesforce, a cloud-based software company, introduced a novel low code tool for developers on its salesforce lightning platform. This low-code tool is meant for automation, interactive app development, and new elastic computing. It includes AI-driven data protection, identity management, and the development of skills to assist teams in generating more revenue.
Integration with Customer Relationship Management (CRM) Systems Provides Lucrative Opportunities for Global Social Media Management Market:
Integration with Customer Relationship Management (CRM) systems presents a significant opportunity for the social media management market. Businesses widely use CRM systems to manage customer interactions, sales, and marketing efforts. By integrating social media management platforms with CRM systems, businesses can leverage the power of social media to enhance their customer relationships and improve overall business outcomes. One of the key advantages of integrating social media management with CRM is the ability to have a holistic view of customer interactions. By connecting social media data with customer profiles in the CRM system, businesses can comprehensively understand customers' social media engagements, preferences, and behaviors. This valuable data helps businesses develop more targeted and personalized marketing strategies, enabling them to deliver relevant content and offers to individual customers based on their social media activities and interests.
Furthermore, integrating social media management with CRM allows businesses to streamline their customer engagement processes. Social media management tools can capture and consolidate customer interactions from various social media channels, such as comments, messages, and mentions, into the CRM system. This ensures businesses have a centralized repository of customer conversations and feedback, making it easier to track, manage, and promptly respond to customer inquiries or concerns. The integration also enables businesses to provide better customer support through social media channels. By linking social media interactions with the CRM system, customer support teams can access customer information, purchase history, and previous interactions while handling social media inquiries. This facilitates a more personalized and efficient support experience, as agents can provide tailored assistance and address customer needs based on their complete profile and history. Moreover, integrating social media management with CRM allows businesses to measure the impact of social media on their overall sales and marketing efforts. By analyzing social media data alongside other CRM data, businesses can gain insights into the influence of social media engagements on lead generation, conversion rates, and customer retention. This information helps evaluate the effectiveness of social media strategies and optimize marketing campaigns for better results.
Directly Purchase this Report at https://www.theinsightpartners.com/buy/TIPRE00003875
Global Social Media Management Market: Segmental Overview
Based on component, the social media management market is segmented into solution and service. The solution segment held the largest share of the market in 2020 and is anticipated to register the highest CAGR in the market during the forecast period. Based on end deployment, is segmented into on-premise and cloud based. The cloud based segment held the largest share of the social media management market in 2020 and is anticipated to register the highest CAGR in the market during the forecast period. Based on enterprise size, the social media management market is segmented small and medium enterprises (SMEs) and large enterprises. The large enterprises segment held the largest share of the market in 2020, whereas the small and medium enterprises (SMEs) segment is estimated to register the highest CAGR in the market during the forecast period. Based on application, the social media management market is segmented into sales and marketing management, customer experience management, competitive intelligence, and risk management and fraud detection. The sales and marketing management segment held the largest share of the market in 2020, competitive intelligence segment is estimated to register the highest CAGR in the market during the forecast period. Based on vertical, the social media management market is segmented into IT and telecom, BFSI, healthcare, media and entertainment, retail, and others. The BFSI segment held the largest share of the market in 2020, whereas the healthcare segment is estimated to register the highest CAGR in the market during the forecast period.
Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Social Media Marketing Platform Market Forecast to 2028 - Covid-19 Impact and Global Analysis
Social Media Publishing Tools Market Forecast to 2028 - COVID-19 Impact and Global Analysis
Social Media Analytics Market Forecast to 2028 – COVID-19 Impact and Global Analysis
Social Media Management Tools Market Forecast to 2028 - COVID-19 Impact and Global Analysis
Social Media Security Market Forecast to 2028 - Covid-19 Impact and Global Analysis
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/social-media-management-market
