Social Media Management Software Market to grow by USD 34.62 billion from 2022 to 202 | An increase in technological advancements in social media is providing new opportunities to drive the market - Technavio

NEW YORK, Aug. 21, 2023 /PRNewswire/ -- The social media management software market size is estimated to grow by USD 34,627.47 million from 2022 to 2027 at a CAGR of 24.28% according to Technavio.

Social Media Management Software Market Insights -

• Vendors: 15+, Including Adobe Inc., Agorapulse SAS, 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. among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: End-user (Retail and consumer goods, Healthcare and life sciences, IT and telecom, Government and public sector, and Others), Deployment (Cloud-based and On-premise), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

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Social media management software market - Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity
• For highlights on customer landscape analysis, download a sample!

Social media management software market - Company Insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including Adobe Inc., Agorapulse SAS, 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.

Social Media Management Software Market – Market Dynamics

Major Drivers - An increase in technological advancements in social media is providing new opportunities, which is driving market growth. 

Significant Trends- The use of analytics in social media management software is the primary trend in the market. 

Key challenges

The need to continuously upgrade social media management software is a significant challenge hindering market growth. With enterprises increasingly harnessing social media for marketing endeavors, the surge in demand for social media management software is imminent. However, social media platforms are in a perpetual state of evolution, introducing novel features and capabilities. For instance, in May 2022, Meta and Adobe joined forces to unveil the 'Express Your Brand' training initiative, aiming to aid small businesses in crafting more efficacious content and digital marketing strategies via Adobe's Express production suite. This ceaseless progression mandates regular enhancements to on-premises social media management software to ensure optimal utilization and preclude compatibility concerns. This presents a challenge for small and medium-sized enterprises (SMEs) struggling with budgetary constraints, as they might tussle with the costs of recurrent upgrades, potentially impacting the expansion of the social media management software market during the forecast period.

Drivers, & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a  sample report!

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What are the key data covered in this Social Media Management Software Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the social media management software market between 2023 and 2027
• Precise estimation of the social media management software market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the social media management software market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of social media management software market vendors

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The Global Social Media Analytics Market size is estimated to grow by USD 7,260.33 million between 2022 and 2027 accelerating at a CAGR of 23.29% during the forecast period. This report extensively covers market segmentation by application (sales and marketing management, customer experience management, competitive intelligence, risk management, and public safety and law enforcement), end-user (retail, government, media and entertainment, travel, and others), deployment (on-premise and cloud), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The market growth is significantly driven by the increasing use of social media analytics to enhance brand loyalty. 

Artificial intelligence (AI) in social media market share is expected to increase by USD 3.66 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 26.93%. This report extensively covers artificial intelligence (AI) in social media market segmentation by application (predictive risk management, consumer experience management, and sales and marketing) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The growing demand for data integration and visual analytics is notably driving the artificial intelligence (AI) in social media market growth, although factors such as a lack of skilled workforce for the development of ai algorithms may impede the market growth. 

Table of contents

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Deployment

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio