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The social media management software market size is forecast to increase by USD 67.59 billion at a CAGR of 32.6% between 2023 and 2028. The growth of the market depends on several factors, including the Increase in technological advancements in social media providing new opportunities, the Growing need to manage social media accounts efficiently, and the Increasing number of users on social media. The rise in technological advancements in social media management software and talent management software is creating new opportunities, which significantly contribute to market growth. As these platforms expand, there is a growing demand for enhanced availability. Leveraging advanced database management systems, testing tools, and maintenance platforms presents growth prospects within the realm of big data for social media management software. An emerging trend in the market is the incorporation of analytics into social media management software. This trend provides a variety of analytical tools and techniques to aid enterprises in real-time monitoring and dynamic analysis of their social media platforms.
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The market share growth by the retail and consumer goods segment will be significant during the forecast period. The social media landscape is evolving at an unprecedented pace, with short-form entertainment and technologies like Augmented Reality (AR) and Virtual Reality (VR) driving user engagement. Social media management software is a crucial tool for businesses to navigate this digital terrain, offering advanced analytics and AI-driven chatbots with natural language processing capabilities.
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The retail and consumer goods segment showed a gradual increase in the market share of USD 2.85 Billion in 2018. Influencer marketing and cloud-based solutions have become essential for Small and Medium Enterprises (SMEs) in sectors like travel and hospitality, enabling them to monitor customer sentiments, track IP addresses, web browser cookies, and tracking pixels for targeted campaign management. Advanced analytics and CRM systems help businesses gain insights into unstructured data and customer behaviors, enhancing branding, advertising, and risk management efforts. With the increasing adoption of cloud-based deployment, SaaS solutions have become more accessible, reducing Operating Expenditures (OPEX) and enabling IT outsourcing. Social media management software enables multimedia content creation, social media listening, and monitoring across various social media platforms, making it an indispensable asset for businesses in the digital age.
Social media management has evolved beyond simple content scheduling and publishing. Today's software solutions leverage advanced technologies like machine learning, data analysis, and augmented reality (AR) to help businesses make data-driven decisions and engage with customers more effectively. Unstructured data from short-form entertainment and multimedia content on social media platforms is analyzed to extract customer sentiments and trends. CRM integration enables better customer relationship management (CRM), while SaaS-based software-as-a-service (SaaS) delivery and cloud adoption make these tools more accessible. IP addresses, web browser cookies, and tracking pixels are used for targeted advertising, while data centers and servers ensure data security. Retail and e-commerce businesses particularly benefit from these features to enhance their social media marketing efforts.
The wave in technological advancements within the realm of social media management software is notably catalyzing market growth. As these platforms continue to evolve, there arises an imperative for enhanced availability of sophisticated tools. Advanced database management systems, testing tools, and maintenance platforms emerge as key enablers, fostering growth opportunities in the domain of big data for social media management software. These services streamline the administration and upkeep of social media platforms, rendering them more user-friendly and efficient. Many enterprises are now leveraging multi-service platforms equipped to handle the processing, filtering, classification, and secure storage of both structured and unstructured data from these platforms. Such platforms ensure data security while facilitating effective communication between global corporations and their clientele.
Further, the expanding market landscape is moved by the adoption of cutting-edge technologies like NoSQL databases and big data, offering substantial benefits to industries such as management, media, and marketing. As social media platforms witness rapid expansion and an enlarging user base, the development of corresponding software solutions sees a parallel wave. The escalating volume of data generated, including structured and unstructured data, necessitates precise retrieval, filtering, encryption, decoding, management, storage, and processing mechanisms. A highly efficient social media management software platform capable of adeptly tracking, storing, and updating social media data emerges as indispensable for these operations.
The use of analytics in social media management software is the key trend in the market. This offers a range of analytical tools and techniques to assist enterprises in real-time monitoring and dynamic analysis of these platforms. By leveraging analytics, businesses can gain insights into their activities, track trends, and measure growth across platforms like Facebook, Instagram, and Twitter. Customizable dashboards and templates enable enterprises to assess user engagement with their content and evaluate their team's responsiveness to customer interactions.
Additionally, it enables businesses to assess website visitors, their sources, and duration of engagement, thereby gauging the effectiveness of their social media efforts. This integration of analytics is expected to drive the demand for this in the forecast period.
The need to continuously upgrade software is challenging the market growth. As enterprises increasingly utilize social media for marketing purposes, the demand for software is expected to rise. However, these platforms are constantly evolving, introducing new features and capabilities. For example, in May 2022, Meta and Adobe collaborated to launch the 'Express Your Brand' training program, aiming to assist small businesses in creating more effective content and digital marketing strategies using Adobe's Express production suite.
Consequently, this continuous evolution necessitates regular upgrades to on-premises software to ensure effective utilization and avoid compatibility issues. This poses a challenge for small and medium-sized enterprises (SMEs) with budget constraints, as they may struggle to keep up with the costs of continuous upgrades, potentially impacting the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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North America is estimated to contribute 29% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The North American market is poised for growth, driven by the advanced technological landscape and early adoption of these platforms in countries like the US and Canada. companies in this region are capitalizing on the increased usage of social media by offering advanced software solutions tailored for enterprises. Strategic alliances and mergers and acquisitions are becoming prevalent as companies seek to expand their product offerings and geographic reach. Enterprises are also becoming more aware of the importance of this software as a means to effectively engage with customers, leading to increased investments by US-based companies to enhance their software with new features. These developments will not only expand their international operations but also drive the demand for this in North America during the forecast period.
Social media management has evolved beyond simple post scheduling, with short-form entertainment, machine learning, augmented reality (AR), and virtual reality (VR) becoming key trends. Advanced analytics tools powered by AI-driven chatbots and natural language processing help businesses understand customer sentiments and engage effectively with their social media users. Influencer marketing, cloud-based solutions, and CRM integration are also crucial for SMEs in sectors like travel and hospitality. Unstructured data from social media platforms, including IP addresses, web browser cookies, and tracking pixels, provide valuable insights for marketing campaigns and branding efforts. CRM and SAAS solutions enable cloud adoption and IT outsourcing, while advanced analytics and risk management tools ensure effective social media listening and monitoring. Campaign management, advertising, and social media marketing benefit from multimedia content and real-time monitoring, making social media management a vital component of digital media strategies.
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Market Scope |
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Report Coverage |
Details |
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Page number |
181 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 32.6% |
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Market growth 2024-2028 |
USD 67.59 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
25.9 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 29% |
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Key countries |
US, China, UK, Japan, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Adobe Inc., Agorapulse SAS, Buffer Inc., eClincher Inc., Emplifi Inc, Hootsuite Inc, HubSpot Inc., International Business Machines Corp., Meltwater NV, NetBase Solutions Inc., Onclusive Inc, Oracle Corp., Platinum Equity Advisors LLC, Qualtrics LLC, Salesforce Inc., Sendible Ltd., Sprinklr Inc., Sprout Social Inc., Talkwalker Sarl, Vista Equity Partners Management LLC, and Zoho Corp. Pvt. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, market trends and analysis, market growth analysis, market growth and trends, market forecast, market analysis and report Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research and growth report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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