$17.7 Bn Social Media Management Market - Global Forecast to 2023: Need to Increase ROI on Social Media Strategy

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Feb 22, 2019, 12:15 ET

DUBLIN, Feb. 22, 2019 /PRNewswire/ -- The "Social Media Management Market by Component, Application, Organization Size, Industry Vertical, Deployment Model, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

Increasing need for enhancing the customer experience through social media measurement to drive the global social media management market

The global social media management market size to grow from USD 9.2 billion in 2018 to USD 17.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.1% during the forecast period. The key factors driving the social media management market include need to increase RoI on social media strategy, growing focus on the market and competitive intelligence, and need for social media measurement to enhance the customer experience.

Medium organizations segment to grow at the highest CAGR during the forecast period

The medium organizations segment witnesses increasing digitalization. They have been majorly dependent on the proliferation of mobile devices, Internet of Things (IoT), and social media user growth, which demands the need for managing these digital assets. Medium organizations have been increasingly investing in social media advertising, and marketing and selling activities to promote their products and services, as social marketing is gaining significant traction. It, in turn, has created the need for integrated social media management tools to share, collaborate, and manage enterprise content over social media for revenue generation.

Cloud deployment mode to grow at a higher CAGR during the forecast period

Rapid implementation, reduced setup, operational, and maintenance costs, and ease of use are major growth drivers for the cloud deployment mode in the social media management market. Although the cloud-based services help in saving costs, the initial value lies in the empowering business transformation. Pricing for the cloud-based solution may vary with the asset and storage requirements, the number of users, add-ons, and Application Programming Interface (API) connectors required. The flexibility to customize solutions as per an organization's dynamic requirements and scalability are major drivers for the adoption of the cloud deployment mode.

Asia Pacific (APAC) to record the highest growth rate during the forecast period

Growing cloud adoption and vendor expansion are expected to drive the APAC social media management market during the forecast period. The high rate of internet usage and increased adoption of smartphones in APAC facilitate companies to adopt advanced solutions and forge strong connections with a wide range of target audiences. In addition, APAC is witnessing an increasing demand for cloud-driven social media management solutions, resulting in increasing investments and technological advancements across the retail and eCommerce industry vertical.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Social Media Management Market
4.2 Market Share, By Region
4.3 Market By Deployment Model
4.4 Market in EMEA: Top 3 Solutions and Countries

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Need to Increase ROI on Social Media Strategy
5.2.1.2 Increased Focus on the Market and Competitive Intelligence
5.2.1.3 Need for Social Media Measurement to Enhance the Customer Experience
5.2.2 Restraints
5.2.2.1 Regulatory and Compliance Constraints
5.2.2.2 Lack of Common Standards and Laws
5.2.3 Opportunities
5.2.3.1 Voluminous Data Generation Through Social Media Platforms
5.2.3.2 Increased Cloud Adoption
5.2.4 Challenges
5.2.4.1 Lack of A Single Solution to Manage Diverse Data Sets Captured From Social Media Platforms
5.3 Industry Trends
5.3.1 Key Trends in the Market
5.3.1.1 Social Media Monitoring and Listening Solutions to Witness A Higher Growth With the Rise in User-Generated Content on Social Media
5.3.1.2 Crowdsourcing on Social Media
5.3.1.3 AI Technology to Be Integrated With Social Media for Personalized Advertising and Understanding the Market Trends
5.3.1.4 Augmented Reality and Social Media
5.3.2 Social Media Management Market: Use Cases
5.3.2.1 Simplify360: Providing Advanced Social Customer Experience
5.3.2.2 Crowdfire: Delivering Exceptional Customer Care on Social Media in Real Time
5.3.2.3 IBM and Influential: Assessment of Campaign Effectiveness Through Social Intelligence
5.3.2.4 Quantzig: Understanding the Target Customer Base and Developing an Adequate Go-To-Market Strategy
5.3.2.5 Crimson Hexagon: Gathering Customer Responses for A New Product Launch Through Social Media Listening
5.3.2.6 Crowdfire: Helping Marketers Discover and Share Relevant and High-Quality Content on Their Social Media Platforms
5.3.2.7 Degordian: Creating A Social Media Strategy for Franck- Croatia's Market Leader in the Coffee and Tea Categories

6 Social Media Management Market By Component
6.1 Introduction
6.2 Solutions
6.3 Services

7 Social Media Management Market By Application
7.1 Introduction
7.2 Sales and Marketing Management
7.3 Customer Experience Management
7.4 Competitive Intelligence
7.5 Risk Management and Fraud Detection
7.6 Others

8 Social Media Management Market By Organization Size
8.1 Introduction
8.2 Small Organizations (Revenue 8.3 Medium Organizations (Revenue: USD 10 Million ~ USD 1 Billion)
8.4 Large Enterprises (Revenue > USD 1 Billion)

9 Social Media Management Market By Deployment Model
9.1 Introduction
9.2 On-Premises
9.3 Cloud

10 Social Media Management Market By Industry Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.3 Retail and Ecommerce
10.4 Government and Public Sector
10.5 Healthcare and Life Sciences
10.6 Telecom and It
10.7 Media and Entertainment
10.8 Manufacturing
10.9 Travel and Hospitality
10.10 Others

11 Social Media Management Market By Region
11.1 Introduction
11.2 North America
11.3 Europe, Middle East, and Africa
11.4 Asia Pacific
11.5 Latin America

12 Competitive Landscape
12.1 Competitive Leadership Mapping
12.1.1 Visionary Leaders
12.1.2 Innovators
12.1.3 Dynamic Differentiators
12.1.4 Emerging Companies
12.2 Strength of Product Portfolio
12.3 Business Strategy Excellence

13 Company Profiles
13.1 Adobe
13.2 IBM
13.3 Google
13.4 Oracle
13.5 Salesforce
13.6 Sprout Social
13.7 Hootsuite
13.8 Sysomos
13.9 Sprinklr
13.10 Digimind
13.11 Clarabridge
13.12 Spreadfast
13.13 Falcon.Io
13.14 Zoho
13.15 Lithium Technologies

For more information about this report visit https://www.researchandmarkets.com/research/cz86lz/17_7_bn_social?w=5

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