Increasing penetration of mobile devices and smartphones globally, along with the rising number of subscribers on several social media platforms, drives the demand for media monitoring tools market
Increasing social media users along with the increasing quantity of time individuals spend on social media is the key factor promoting the global media monitoring tools industry growth. On the other hand, rising investments in digital advertising, increasing dependency over social media advertising platforms to reach consumers, and increasing trend on providing personalized content depending on the current trends fuels the industry growth. However, factors such as overpriced solutions, and network security are factors limiting the growth of the media monitoring tools market. Hence, the global media monitoring tools market size is anticipated to reach USD 11 billion by 2028.
The rapidly rising volume of social media content is considerably contributing to the development of the media monitoring tools industry. Acceptance of these monitoring tools by enterprises functioning in different streams including marketing & communications to achieve various benefits such as mapping sentiments, tracking competitors, identifying trends, and understanding consumer behavior, has certainly influenced the market progression.
Based on the end-user segment, the industry is bifurcated into IT & telecom, healthcare, BFSI, manufacturing, media & entertainment, retail & e-commerce, and others. In 2019, the retail & e-commerce segment gathered significant market revenue and it is anticipated to dominate the market throughout the forecast period. Most e-commerce platforms currently use social media to engross with current as well as prospective customers. These networks provide businesses the capability to communicate with consumers in real-time. Moreover, social media monitoring helps businesses to gauge how people talk about their brand online.
The global media monitoring tools industry is a wide range to North America, Asia Pacific, Europe, South America, and the Middle East & Africa. North America is considered a mature market in account-based marketing applications, owing to an outsized presence of organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the media monitoring tools market in North America. However, the Asia Pacific region is anticipated to grow at a staggering CAGR over the forecast period.
The major players of the global media monitoring tools market are Google Inc., Brand24 S.A., Mention Solutions SAS, BuzzSumo Limited, Twitter Inc., Pinterest, Inc., Cyfe, Inc., Tailwind Capital Group, LLC, SumAll Inc., Buzzcapture B.V., Sprinklr, Inc., Klear, and more. The media monitoring tools platform market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Media Monitoring Tools Market
Component Overview, 2018-2028 (USD Billion)
Organization Size Overview, 2018-2028 (USD Billion)
- Large Enterprise
End-User Overview, 2018-2028 (USD Billion)
- IT & Telecom
- Media and Entertainment
- Retail & e-Commerce
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America