Social Media Management Market In-Depth Analysis and Strategies Includes Top Players and Industry Forecast, 2021-2031

The growing demand for easily accessible and shorter forms of entertainment and media is positively impacting the growth of the social media management market.

PORTLAND, PORTLAND, OR, UNITED STATES, October 23, 2023 /EINPresswire.com/ — According to the report, the global social media management industry generated $15.24 billion in 2021, and is estimated to reach $118.03 billion by 2031, witnessing a CAGR of 22.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Social media management is the process of generating online content, scheduling the process of online content creation, scheduling its publication, developing a marketing and reach strategy, connecting with users, expanding reach, and monitoring the success of a company’s social media accounts. It allows businesses to communicate with their audience and produce relevant content.

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Rise in demand for work-from-home and remote working policies during the period of the COVID-19 pandemic and surge in demand for easily accessible and short forms of entertainment and media drive the growth of the global social media management market. However, data privacy and sharing challenges on social media management platforms hamper the market growth. On the other hand, the integration of advanced tools such as machine learning and data analytics with social media management solutions suites present new opportunities in the coming years.

Furthermore, key factors that drive the growth of the social media management market include rise in demand for work from home and remote working policies during the period of the COVID-19 pandemic aided in propelling the growth of the global social media market, hence empowering the demand for social media management solutions. Moreover, the growing demand for easily accessible and shorter forms of entertainment and media is positively impacting the growth of the social media management market. However, data privacy and sharing challenges on social media management platforms can hamper the social media management market forecast.

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Based on components, the solution segment contributed to the highest market share in 2021, contributing to nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. This is due to the growing need for effective social media marketing campaigns. However, the service segment is projected to witness the largest CAGR of 24.3% from 2022 to 2031, owing to increase in digital and internet penetration.

Based on enterprise size, the large enterprises segment contributed to the highest market share in 2021, contributing to around three-fifths of the global market, and is expected to maintain its dominance during the forecast period. This is due to large scale social media engagements of large enterprises. However, the SMEs segment is projected to witness the largest CAGR of 24.1% from 2022 to 2031, owing to increase in technological and digital investments by SMEs.

On the basis of application, the competitive intelligence segment dominated the overall social media management market in 2021 and is expected to continue this trend during the forecast period. This is attributed to the growing number of users’ and competitors’ data on their social media profiles. However, the risk management and fraud detection segment are expected to witness the highest growth as demand for proper moderation and control over online content is anticipated to rise in the coming years, which is expected to further fuel the growth of global social media management industry.

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Region wise, the social media management market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its high concentration of social media management solutions vendors such as Google Inc. (Alphabet Inc.), IBM Corporation, and Salesforce, Inc. which is expected to drive the market for social media management technology within the region during the forecast period. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to rapid economic and technological developments in the region, which is expected to fuel the social media management market growth in the region in the coming few years.

Leading Market Players:

• Adobe

• Brandwatch

• Clarabridge

• Digimind

• Falcon.io

• Google

• Hootsuite Inc.

• HubSpot, Inc.

• IBM Corporation

• Khoros, LLC

• Meltwater

• NetBase Quid, Inc.

• Oracle Corporation

• Salesforce Inc.

• Sprinklr, Inc.

• Sprout Social Inc.

• Talkwalker Inc.

• Zoho Corporation Pvt. Ltd.

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The report analyzes these key players of the global social media management market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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