Global Social Media Management Market was valued US$ 9.36 Bn in 2019 and is expected to reach US$ 23.59 Bn by 2027, at a CAGR of 14.12% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Increasing demand of cloud social media management solutions is expected to grow over the next 5 years, owing to several issues including massive implementation of social media and huge volumes of data generated across main industries, including BFSI, retail and ecommerce, government and public sector, and manufacturing. A need to realize an increasing RoIl on social media strategy, a growing focus on the market and competitive intelligence, and an increasing need for social media measurement to improve the customer experience are key growth factors for the market.
Based on Component, solution segmented is expected to constitute the largest market size during the forecast period with the wide-spread implementation of the solution across organizations in many industry verticals. It shows to be a vital tool for marketers to easily and quickly reach their targeted audience and engage them successfully. Social media appointment and social media advocacy are two main components of social media marketing. The social media appointment involves management of the existing and potential customer interactions on various social media networks of a company. Social media advocacy and selling deals with brand development through third-party engagements.
On the basis of Application, increasing need to have market intelligence to improve a competitive edge is expected to drive the competitive intelligence application in the social media management market. It includes all activities that a company undertakes to gain insights into what their competitors are doing, track competitors activities. Social media platforms can deliver a wide variety of information about customers, their skills, needs, and perceptions.
Based on Industry Vertical, increasing use of social media has transformed banking relationships with customers in important ways, by improving customer service to allowing users to send money to others via online platforms. BFSI organizations have started monitoring client conversations for brand mentions and customer complaints, and started replying accordingly, using the measuring, monitoring, and analyzing functionalities present in the social media management solutions. Established financial organizations are collaborating with key innovators in response to customer demands for effective social media management platforms.
Geographically, North America established largest market share in 2017, owing to the early implementation of advanced technology solutions as well as initiative taken by industry players through partnerships with various expertise players. The US and Canada are witnessing increased implementation of advanced technologies, including social media monitoring and analytics.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding social media management market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Social Media Management Market.
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Scope of Global Social Media Management Market
Global Social Media Management Market, by Component:
o Social Media Marketing
o Social Media Listening, Monitoring, and Analytics
o Social Media Asset and Content Management
o Social Media Risk and Compliance Management
o Professional Services
Implementation and Consulting
Training and Support
o Managed Services
Global Social Media Management Market by Application:
• Sales and Marketing Management
• Customer Experience Management
• Competitive Intelligence
• Risk Management and Fraud Detection
Global Social Media Management Market by Organization Size:
• Small Organizations (Revenue < USD 10 Million) • Medium Organizations (Revenue: USD 10 Million ~ USD 1 Billion) • Large Enterprises (Revenue > USD 1 Billion)
Global Social Media Management Market by Deployment Model:
Global Social Media Management Market by Industry Vertical:
• Banking, Financial Services, and Insurance
• Retail and Ecommerce
• Government and Public Sector
• Healthcare and Life Sciences
• Telecom and It
• Media and Entertainment
• Travel and Hospitality
Global Social Media Management Market, By Region:
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Social Media Management Market:
• Adobe Inc.
• Oracle Corporation
• Sprout Social, Inc.
• Falcon.io ApS
• Zoho Office Suite
• Lithium Technologies
This Report Is Submitted By : Maximize Market Research Company
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