An In-Depth Look at the Social Media Management Market Estimated to Reach $118.03 Billion

According to a new report published by Allied Market Research, titled, "Social Media Management Market," The social media management market size was valued at $15.24 billion in 2021, and is estimated to reach $118.03 billion by 2031, growing at 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.

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The Social Media Management market refers to the industry and services related to the management, monitoring, and analysis of social media platforms for businesses and individuals. This market includes software platforms, tools, and services designed to help businesses create, publish, analyze, and engage with content on various social media channels such as Facebook, Instagram, Twitter, LinkedIn, TikTok, and others.

Additionally, significant drivers for the expansion of the social media management market include the surge in demand for remote work and work-from-home arrangements amid the COVID-19 pandemic, which has notably boosted the global social media landscape and, consequently, spurred the need for social media management solutions. Furthermore, the increasing desire for easily accessible, condensed forms of entertainment and media is a positive influence on the growth of the social media management market.

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Nonetheless, challenges related to data privacy and sharing on social media management platforms could impede the projected growth of the market. Conversely, the integration of advanced tools such as machine learning and data analytics into suites of social media management solutions is anticipated to present lucrative opportunities for the expansion of the social media management market in the forecast period.

Based on industry vertical, the BFSI segment held the highest market share in 2021, accounting for more than one-fifth of the global market, and is expected to maintain its lead position during the forecast period. This is due to surge in financial applications of social media platforms. However, the media and entertainment segment is projected to manifest the fastest CAGR of 26.0% from 2022 to 2031. This is due to promotional and audience engagement activities being hosted on social media websites.

Based on 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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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.

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 helps determine the business performance, operating segments, product portfolio, and developments of every market player.

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