Social Media Management Global Market Report 2024

Description

“Social Media Management 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 social media management 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.

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Where is the largest and fastest growing market for social media management? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The social media management 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.

Scope

Markets Covered:

1) By Component: Solutions; Services
2) By Organization Size: Small and Medium Scale Enterprises; Large Enterprises
3) By Application: Competitive Intelligence; Sales And Marketing Management; Customer Experience Management; Risk Management; Other Applications
4) By Industry Vertical: Banking, Financial Services, And Insurance; Retail And E-commerce; Government And Public Sector; Healthcare And Life Sciences; Telecom And IT; Media And Entertainment; Manufacturing; Travel And Hospitality
Companies Mentioned: Adobe Inc.; Clarabridge Inc.; Digimind Inc.; Falcon.io; Google LLC
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Social media management involves the ongoing process of creating, curating, and planning content across various online platforms with the primary objective of nurturing and expanding an audience. This multifaceted practice serves diverse purposes, including community administration, online reputation management, and the formulation and execution of social media strategies.

The key components of social media management encompass both solutions and services. Social media management solutions refer to software tools designed to assist individuals, businesses, or organizations in effectively overseeing their presence on various social media platforms. These solutions offer a centralized platform, enabling businesses to efficiently manage and monitor their social media activities. This includes tasks such as posting updates, responding to messages and comments, analyzing performance metrics, and engaging with followers. Social media management is employed by both small and medium-scale enterprises, as well as large enterprises, for a range of purposes including competitive intelligence, sales and marketing management, customer experience management, risk management, and more. This practice finds applications across various industries such as banking, financial services, and insurance retail and e-commerce government and public sector healthcare and life sciences telecom and IT media and entertainment manufacturing and travel and hospitality.

The social media management market research report is one of a series of new reports from The Business Research Company that provides social media management market statistics, including social media management industry global market size, regional shares, competitors with a social media management market share, detailed social media management market segments, market trends and opportunities, and any further data you may need to thrive in the social media management industry. This social media management 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 social media management market size has grown exponentially in recent years. It will grow from $22.75 billion in 2023 to $28.27 billion in 2024 at a compound annual growth rate (CAGR) of 24.3%. The expansion observed in the historical period can be attributed to the emergence of social media platforms, increased adoption of social media by businesses, the use of analytics and data insights, the rise of influencer marketing, and a heightened focus on customer engagement. These factors collectively played a significant role in driving growth during that period.

The social media management market size is expected to see exponential growth in the next few years. It will grow to $67.92 billion in 2028 at a compound annual growth rate (CAGR) of 24.5%. The anticipated growth in the forecast period can be attributed to several key factors, including the dominance of video content, increasing concerns about privacy and data security, cross-platform integration, and the integration of social commerce. Major trends expected during this period encompass the integration of artificial intelligence (AI) and automation, the rise of ephemeral content, real-time engagement and customer service, a greater emphasis on social listening, and technological advancements in the field of social media. These trends collectively indicate the evolving landscape of social media and its continued impact on user engagement and business strategies.

The anticipated growth in the social media management market is expected to be propelled by the rising widespread penetration of social media. Social media, as an internet-based communication service, enables individuals to share text and multimedia across virtual networks, fostering the creation of web content and virtual communities. The increasing scope and impact of social channels have led to more standardized advertising strategies across major platforms, resulting in significant commercial benefits. Notably, a study by the University of Maine in September 2022 revealed a global surge in social media users, reaching 4.48 billion people, more than double the figure recorded in 2015 (2.07 billion). In the Asia-Pacific region, We Are Social reported a remarkable 50% penetration rate, with 2.14 billion active social media users in 2020, representing a 9.8% increase between April 2019 and January 2020. This data underscores the driving force of the rising widespread penetration of social media in fostering the growth of the social media management market.

The anticipated surge in the social media management market is attributed to the rising proliferation of content creators. These creators, whether individuals or entities, generate and disseminate original content across diverse platforms, including social media, websites, blogs, videos, podcasts, and various digital channels. Their pivotal role in enhancing social media engagement, expanding outreach, ensuring a consistent online presence, and contributing to the overall efficacy of social media management strategies underscores their significance. As of November 2023, data from Exploding Topics, a US-based review company specializing in trend analysis, reveals a global population of over 200 million content creators. This substantial increase in content creators is identified as a driving force behind the growth of the social media management market.

The social media management market is witnessing a prominent trend focused on product innovation, as companies strive to fortify their market positions. Notably, in March 2023, Hookle, a Finland-based AI-powered all-in-one social media management platform tailored for small businesses, unveiled an innovative social media posting software leveraging AI, specifically OpenAI's ChatGPT technology. This technology enables seamless social media posting for company owners, incorporating features such as multi-platform scheduling, AI-driven content generation, and simultaneous publishing across various channels, accessible on both iOS and Android platforms. This launch empowers users to create tailored premium social media content by integrating ChatGPT with Hookle's patented social media monitoring technology.

Major companies are actively pursuing product innovation strategies to boost market revenues. These cutting-edge solutions offer brands and agencies a versatile toolkit for every facet of social media campaigns, encompassing omnichannel creative production at scale, automated ad personalization, cross-platform campaign management, centralized reporting, and optimization. For example, in February 2022, Mediaocean, a US-based advertising company, introduced new creative solutions for paid social media, enhancing creative production scalability and overall campaign performance. The platform's centralized digital asset library facilitates swift production of thousands of personalized social media ads, leading to improved workflow efficiencies and heightened campaign performance for users of Mediaocean's social solutions.

In August 2021, Traject, a US-based software development company specializing in marketing technology, completed the acquisition of Loomly, a social media management company based in the US, for an undisclosed amount. This strategic move positions Traject to empower marketing teams in building successful online brands, leveraging Loomly's capabilities for comprehensive social media interaction management.

Major companies operating in the social media management market report are Adobe Inc., Clarabridge Inc., Digimind Inc., Falcon.io, Google LLC, Hootsuite Inc., HubSpot Inc., IBM Corporation, Meltwater Group ASA, NetBase Quid Inc., Oracle Corporation, Salesforce.com Inc., Sprinklr Inc., Sprout Social Inc., Talkwalker Inc., Zoho Corporation, Khoros LLC, Cognizant Technology Solutions Corporation, Sysomos Inc. , Spreadfast Inc., Lithium Technologies Inc., Qualtrics International Inc., Cision Ltd., Buffer Inc., Agorapulse Inc., Sendible Social Media Marketing Software, MavSocial Inc., Emplifi GmbH, Synthesio SA, Eclincher Inc.

North America was the largest region in the social media management market in 2023. The regions covered in the social media management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the social media management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The social media management market includes revenue earned by producing and disseminating information, keeping track of mentions and engagement, expanding a network of followers and influencers, and summarizing and evaluating the outcomes. 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.

Product Code: r12095

1. Executive Summary

2. Social Media Management Market Characteristics

3. Social Media Management Market Trends And Strategies

4. Social Media Management Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Social Media Management Market Size and Growth

5.1. Global Social Media Management Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Social Media Management Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Social Media Management Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Social Media Management Market Segmentation

6.1. Global Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Solutions
Services
6.2. Global Social Media Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Small and Medium Scale Enterprises
Large Enterprises
6.3. Global Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Competitive Intelligence
Sales And Marketing Management
Customer Experience Management
Risk Management
Other Applications
6.4. Global Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Banking, Financial Services, And Insurance
Retail And E-commerce
Government And Public Sector
Healthcare And Life Sciences
Telecom And IT
Media And Entertainment
Manufacturing
Travel And Hospitality

7. Social Media Management Market Regional And Country Analysis

7.1. Global Social Media Management Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Social Media Management Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Social Media Management Market

8.1. Asia-Pacific Social Media Management Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Social Media Management Market

9.1. China Social Media Management Market Overview
9.2. China Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Social Media Management Market

10.1. India Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Social Media Management Market

11.1. Japan Social Media Management Market Overview
11.2. Japan Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Social Media Management Market

12.1. Australia Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Social Media Management Market

13.1. Indonesia Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Social Media Management Market

14.1. South Korea Social Media Management Market Overview
14.2. South Korea Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Social Media Management Market

15.1. Western Europe Social Media Management Market Overview
15.2. Western Europe Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Social Media Management Market

16.1. UK Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Social Media Management Market

17.1. Germany Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Social Media Management Market

18.1. France Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Social Media Management Market

19.1. Italy Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Social Media Management Market

20.1. Spain Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Social Media Management Market

21.1. Eastern Europe Social Media Management Market Overview
21.2. Eastern Europe Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Social Media Management Market

22.1. Russia Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Social Media Management Market

23.1. North America Social Media Management Market Overview
23.2. North America Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Social Media Management Market

24.1. USA Social Media Management Market Overview
24.2. USA Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Social Media Management Market

25.1. Canada Social Media Management Market Overview
25.2. Canada Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Social Media Management Market

26.1. South America Social Media Management Market Overview
26.2. South America Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Social Media Management Market

27.1. Brazil Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Social Media Management Market

28.1. Middle East Social Media Management Market Overview
28.2. Middle East Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Social Media Management Market

29.1. Africa Social Media Management Market Overview
29.2. Africa Social Media Management Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Social Media Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Social Media Management Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Social Media Management Market Competitive Landscape And Company Profiles

30.1. Social Media Management Market Competitive Landscape
30.2. Social Media Management Market Company Profiles
- 30.2.1. Adobe Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Clarabridge Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Digimind Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Falcon.io
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Google LLC
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Social Media Management Market Competitive Benchmarking

32. Global Social Media Management Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Social Media Management Market

34. Social Media Management Market Future Outlook and Potential Analysis

34.1 Social Media Management Market In 2028 - Countries Offering Most New Opportunities
34.2 Social Media Management Market In 2028 - Segments Offering Most New Opportunities
34.3 Social Media Management Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer