Social Media Management Market Size, Industry Share & Forecast 2029

 

Social Media Management Market

Social Media Management Market size touched USD 14.8 billion in 2021 and is projected to reach USD 68.9 billion in 2029 and the market is estimated to grow at a very high CAGR of 21.2% from 2022-2029.

The factors driving growth of the Social Media Management Market includes huge volumes of data generated across social media platforms, rise in the number social media users around the world, emergence of new start-ups, growing trend of Work from Home (WFH) and improvements in the living standards. Moreover, integration of Artificial Intelligence (AI) and Machine Learning (ML) with social media management solutions, rapid urbanization and increasing application of social media management tools help in engaging with influencers, monitoring online conversations with customers, and distributing online content for social networks, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, rise in the launch of innovative products and growing population growth rates, are further contributing towards the market growth.

However, growth of the Social Media Management Market is hindered due to growing concerns related to data privacy.

The leading players operating in the Social Media Management Market are Zoho Corporation Pvt. Ltd., Brandwatch., Talkwalker Inc., Adobe, IBM, Google, Agorapulse, Sendible, Hootsuite Inc., and Digimind, among others. 

Based on Deployment Mode, the Cloud segment is predicted to grow at a significant CAGR during the forecast period

Cloud-based deployment are cost-effective, enhances scalability and provides access from remote data centers, are some of the features propelling Social Media Management Market size.

Based on Component, the Solutions segment is projected to grow at a robust CAGR over the forecast period

According to the Global Social Media Management Market Analysis, increasing use of social media management solutions for branding, managing website traffic, and running social media advertisements, are pushing segment’s growth

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

As per the Social Media Management Market Report, presence of the leading players such as Adobe, IBM Corporation, Google LLC, growing adoption of advanced technologies, rapid industrialization, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.

Key Developments

  • In June 2021, Google Marketing Platform launched the Ads creative studio. It’s a unified solution platform to create an advertisement, it also allows building compelling experiences for audio, display, and video ads. This Ads Creative Studio will help customers to build and innovate advertisements with easy-to-use user interface.
  • In May 2021, Hootsuite upgraded the navigation in mobile so that users can easily filter and review scheduled content over social media platforms

Market Segmentation

Segmentation by Deployment Mode

  • Cloud
  • On-premises

Segmentation by Component

  • Solutions
  • Services Rodent Control

Segmentation by Organization Size

  • Small Enterprises
  • Medium-Sized Enterprises

Segmentation by Vertical

  • BFSI
  • Retail and Consumer Goods
  • Government and Public Sector
  • Healthcare and Life Sciences
  • IT and Telecom
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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