PUBLISHER: The Business Research Company | PRODUCT CODE: 1414381
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414381
“Media Monitoring Tools Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on media monitoring tools market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for media monitoring tools? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The media monitoring tools market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Media monitoring tools comprise a set of instruments designed to track online presence, monitor target consumers, assess attitudes toward a business, and evaluate the effectiveness of communications and marketing initiatives.
The main components of media monitoring tools include software and services. Software refers to a set of instructions or programs that carry out specific actions in response to user requests. These tools can be deployed on-premise or in the cloud. Various types of media monitoring tools include print media monitoring, social media monitoring, broadcast media monitoring, online media monitoring, and others. These tools find applications in customer experience and PR management, real-time analytics, content management, digital marketing and sales management, among others. The end-users of media monitoring tools span across various industries, including healthcare, BFSI (Banking, Financial Services, and Insurance), IT and telecom, media and entertainment, retail and e-commerce, manufacturing, and others.
The media monitoring tools market research report is one of a series of new reports from The Business Research Company that provides media monitoring tools market statistics, including media monitoring tools industry global market size, regional shares, competitors with a media monitoring tools market share, detailed media monitoring tools market segments, market trends and opportunities, and any further data you may need to thrive in the media monitoring tools industry. This media monitoring tools market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The media monitoring tools market size has grown rapidly in recent years. It will grow from $4.44 billion in 2023 to $5.1 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. The expansion observed in the historical period can be attributed to factors such as a focus on reputation management, the trend toward globalization and multilingual capabilities, a shift towards integrated platforms, the evolution of AI and machine learning, and the increasing demand for real-time monitoring.
The media monitoring tools market size is expected to see rapid growth in the next few years. It will grow to $8.98 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The anticipated growth in the forecast period can be attributed to the integration of AI and machine learning, the increasing demand for real-time monitoring and alerts, the expansion of social media monitoring, enhanced data security and privacy measures, and global market penetration. Major trends expected in the forecast period include a focus on compliance and ethics monitoring, an emphasis on data visualization and insights, advancements in visual and video content analysis, the development of customizable and scalable solutions, and the integration of multichannel tracking.
The anticipated increase in social media adoption is set to drive the growth of the media monitoring tools market. Social media, characterized by platforms emphasizing collaboration, interaction, and community-based input, necessitates media monitoring tools for tracking trends, hashtags, keywords, and mentions relevant to businesses. According to a report by Hootsuite Inc., a US-based provider of social media tools, the global number of social media users in 2023 is 4.74 billion, with more than 93% of internet users utilizing social media. Notably, 76% of people in North America are active on social media. Consequently, the rising adoption of social media is a pivotal factor propelling the growth of the media monitoring tools market.
Increasing internet penetration is expected to be a significant driver for the growth of the media monitoring tools market. Internet penetration, denoting the percentage of a given population using the Internet, leads to expanded access to online content, social media platforms, and digital news sources, generating substantial data regularly. For instance, in China, internet users increased by 19 million (1.9%) between 2022 and 2023, according to Kepios analysis. The upward trend in internet penetration is fueling the demand for media monitoring tools.
Technological advancements represent a key trend gaining traction in the media monitoring tools market. Major companies in this market are actively developing new technological solutions to fortify their positions. Onclusive, a US-based media monitoring platform, recently introduced two products, Essentials and Pro, as part of its software suite. These products feature intelligent media monitoring scalable for teams of any size, providing real-time, dynamic measurement and reporting. Onclusive Pro, in particular, automates the process of organizing findings and generating reports, significantly saving time.
Major players in the media monitoring tools market are concentrating on innovative solutions such as the Brand Love Benchmarking solution to enhance their market presence. A Brand Love Benchmarking Solution assesses and measures consumer sentiment, affection, and loyalty toward a brand. For instance, Talkwalker, a Luxembourg-based consumer intelligence company, unveiled its Brand Love Benchmarking solution, leveraging advanced AI capabilities. The solution offers real-time quantifiable metrics, delivering a "Brand Love Score" based on key consumer drivers such as passion, trust, and customer satisfaction. Brands can utilize this solution to gain insights into consumer attitudes and benchmark against industry averages.
In May 2022, Onclusive, a US-based media monitoring software developer, acquired Critical Mention Inc. The acquisition broadens Onclusive's global reach, enhancing its ability to provide US broadcast monitoring and media contact services. This strategic acquisition strengthens Onclusive's position in delivering comprehensive worldwide media monitoring, measurement, and management solutions. Critical Mention Inc. is a US-based media monitoring platform.
Major companies operating in the media monitoring tools market report are Agility PR Solutions LLC, BoomSonar Suite, Burrelle's Information Services LLC, Cision US Inc., Coosto, Hootsuite Inc., Lucidya LLC, M-Brain Group, Meltwater, SemanticForce, Snap Trends Inc., Sprinklr Inc., YouScan, Buzzcapture BV, Ubermetrics Technologies GmbH & Co KG, Critical Mention, Talkwalker, Mention, Brand24 Global Inc., Brandwatch, TrendKite, BuzzSumo Limited, Cyfe Inc., SumAll Inc., Tailwind, Oracle Corporation, Alphabet Inc., Pinterest Inc., Twitter Inc., Salesforce.com Inc., Glean.info, TVEyes Inc.
North America was the largest region in the media monitoring tools market in 2023. The regions covered in the media monitoring tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the media monitoring tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The media monitoring tool market consists of revenues earned by entities by providing media monitoring services such as analytics, data visualization, and other related services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.