Technavio has announced the release of their research report on the
global social media management software market for the forecast period
2019-2023. This global social media management software market analysis
report segments the market by deployment (cloud-based and on-premises)
and geography (APAC, Europe, MEA, North America, and South America).
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The global social media management software market will register a CAGR of 14% during 2019-2023 (Graphic: Business Wire)
Global social media management software market size will grow by almost
USD 789.43 million, at a CAGR of 14%. Use of analytics in social media
management software helps enterprises to track trends and measure
growth. The solution also helps them customize dashboards or templates
and provides information about their account holders engagement with
their content. Many vendors are offering social media management
software solutions backed with analytics. For example, eClincher Inc.
offers solutions that include powerful analytics for each profile and
all the tweets and posts of the enterprise. This helps the enterprises
to understand the performance of their posts and their followers’
trends. This growing trend of the use of analytics can lead to an
increase in demand for global social media management software during
the forecast period.
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Increasing social media advertising
Social media advertising expenditure is increasing every year, and
positively affecting the growth of social media platforms such as
Facebook and Twitter. Several e-commerce companies are spending on
social media management software solutions to reach consumers. Vendors
such as Buffer are offering solutions that help enterprise marketing
teams to schedule posts, analyze performance, and manage social media
accounts at one place. Such developments will drive the growth of the
global social media management software market.
“The increased use of social media in the North American region is
encouraging many vendors to develop advanced social media management
software solutions. The market is expected to grow in this region as
many enterprises are embracing social media management software as an
important platform to connect with their customers. The APAC region will
witness a faster growth due to the growing adoption of social media
platforms by enterprises in countries such as China, Japan, and India.
The increased use of social media platforms will boost the growth of
global social media management software market over the forecast
period,” says an analyst at Technavio.
Many vendors are forming strategic alliances to help the enterprises
enhance product offerings and increase their online presence. For
instance, Lithium Technologies LLC recently merged with Spredfast to
deliver enhanced customer services across diverse channels. Sprout
Social received funding from Goldman Sachs to help to expand its
operations internationally as well as to improve its social media
snapshot of the report for a more detailed overview of
the market and the segmentation covered in this report
This global social media management software market industry research
report provides an in-depth analysis of the primary drivers, upcoming
trends, and challenges that will impact market growth over the forecast
period. The report analyzes the competitive landscape and offers details
on several social media management software solution providers including
- Hootsuite Inc.
- Sprout Social, Inc.
- Twitter, Inc. (TweetDeck)
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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