Social Media Management Market Forecasts to 2028 - Global Analysis By Component, By Deployment Mode, By Organization Size, By Application, By End User and By Geography

According to Stratistics MRC, the Global Social Media Management Market is accounted for $18.71 billion in 2022 and is expected to reach $64.17 billion by 2028 growing at a CAGR of 22.8% during the forecast period. Social Media Management is the act of gathering and evaluating audiences in order to create marketing and influence plans that are specialized for a certain audience or group of individuals. It serves as a platform for communication with the intended audience and content dissemination on websites like Facebook, Instagram, Twitter, LinkedIn, YouTube and Pinterest. The administration of social media has the potential to present new ways for businesses to broaden their audience and exposure. It aids businesses in measuring and managing information acquired from various social media sites.

According to a Pew Trust survey, 80% of social media users are concerned about companies and advertising accessing and utilizing their posts on social media.

Market Dynamics:

Driver:

Increasing data volume across industries

Using social media management tools to strengthen client interactions, businesses are maximizing the data available from social media in order to acquire real-time insights and boost sales. Companies will certainly have a lot of chances to predict trends, monitor rival promotions, manage brands, and improve customer experience if the data is made public and used effectively. Moreover, data generated by internet users each day amounts to 2.5 quintillion bytes. These aspects are propelling the market growth.

Restraint:

Data manipulation and privacy leaks

Several users have been frightened by data breaches, prompting them to re-evaluate their social network connections and the security of their personal data. There is a risk of unauthorized access or disclosure of sensitive, confidential and protected data. Hackers have the ability to modify the software and extract data that is connected to social media networks. These issues are impeding the market expansion.

Opportunity:

Increase in cloud adoption

Cloud adoption has grown immensely as vendors are using Software-as-a-Service (SaaS) to deliver cloud computing solutions. Corporate users are constantly looking for the most efficient social media management solutions. Cloud computing is made feasible by the cloud, which enables the outsourcing of operational IT labor to a different business. The risks and costs involved are solely assumed by cloud service providers. Its benefits, including adaptability, dependability, scalability and affordability are fuelling the market demand.

Threat:

Lack of standards

As text was the primary form of material on social media, it was simple to evaluate. With the advancement of technology, this unstructured data has grown to encompass multimedia information in the form of photos, videos, audio files, and GIFs. The evaluated data must be genuine and dependable. Wrong decisions are being made as a result of the lack of data standards. The market need is being hampered since judgments cannot be made in a failsafe manner without the approach being able to be independently validated.

COVID-19 Impact:

During the COVID-19 epidemic, the demand for work-from-home and remote working policies increased, which fuelled the expansion of the worldwide social media industry. Yet, it has been determined that the transmission of false information on social media and other digital platforms poses an even greater risk to public health than the virus itself. Social media became a crucial platform for communication during a period of social isolation and restricted interaction with others. The market was positively affected by the epidemic.

The solution segment is expected to be the largest during the forecast period

The solution segment is estimated to have a lucrative growth. Social media management solutions make it easier to reach a large audience. It alludes to a platform, tools and software that give various industry verticals end-to-end social media data. Marketers and advertisers are increasingly using social media management to boost sales, which is driving the segment's demand.

The cloud segment is expected to have the highest CAGR during the forecast period

The cloud segment is anticipated to witness the highest CAGR growth during the forecast period, due to its availability of numerous servers. It offers a way to view the data from different servers or data centers remotely. It comprises of servers, networks, storage, databases, analytical tools and software platforms to supply and access services. Vendors of social media management deal with client requests for IT infrastructure, data redundancy, data availability, creating security measures, audits, and configuration, which fuel the segment's expansion.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to its raising technological innovations. The region is a mature and well-established market with a widespread social media consumer base. It is well regarded among the social media management tools. Many key players in this region adopt social media networks as a key marketing and consumer interaction strategy which is driving the market demand in this region.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the rising popularity and higher reach of social media apps. This region comprises an increasing number of tech-savvy people, a high internet penetration rate and improved connection which has led to widespread use of social media platforms. Digital media is being used by SMEs and start-ups in the area as a low-cost tool for company development and promotion. The market's expansion is being driven by a larger audience in this area without significant expenditure.

Key players in the market:

Some of the key players profiled in the Social Media Management Market include: Adobe, BrandWatch Technologies Ltd, Clarabridge, Digimind, Google, HubSpot, IBM Corporation, Khoros, LLC, Likeable Hub, Meltwater, NetBase Quid, Inc., Oracle Corporation, Salesforce, Social Hub and Zoho Corporation Pvt. Ltd.

Key Developments:

In March 2023, Adobe launches generative AI model Firefly. The new AI model will also be available for use in other products offered such as Creative Cloud, Document Cloud, Experience Cloud and Adobe Express offered by the company.

In March 2022, Oracle cloud infrastructure launches new services and capabilities focused on giving customers even more flexibility. New offerings provide customers with truly flexible core infrastructure services, automatically optimizing resources to match application requirements and significantly reduce costs.

In March 2022, Zoho Corporation launched its latest version of its low-code offering, Zoho Creator. Low-code is a way to design and develop applications with little to no coding. The new version addresses the need for an easy-to-use platform that enables business users (or citizen developers) to create business applications, while empowering the IT teams to place sufficient guardrails and govern usage, ensuring security and compliance.

Components Covered:

• Solution
• Services
• Other Components

Deployment Modes Covered:

• Cloud
• On Premises

Organization Sizes Covered:

• Large Enterprises
• Medium Sized Enterprises
• Small Enterprises

Applications Covered:

• Sales and Marketing Management
• Customer Experience Management
• Risk Management and Fraud Detection
• Competitive Intelligence
• Other Applications

End Users Covered:

• Retail & Consumer Goods
• Banking, Financial Services and Insurance (BFSI)
• Government & Public Sector
• Healthcare & Life Sciences
• Media & Entertainment
• IT & Telecom
• Manufacturing
• Travel & Hospitality
• E Commerce
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances