Pune, India, July 24, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global media monitoring tools market size was valued at USD 3.96 billion in 2022 and is projected to grow from USD 4.63 billion in 2023 to USD 13.40 billion by 2030, exhibiting a CAGR of 16.4% during the forecast period. The surge is propelled by the growing product demand among enterprises considering the soaring adoption of web & social media platforms and increasing digitalization. Fortune Business Insights presents this information in their report titled "Global Media Monitoring Tools Market Forecast, 2023-2030."
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Key Industry Development:
April 2022 – Digimind inked a partnership with Facelift for providing essential tools for the successful growth of social media. This helped both companies in monitoring their brand image and the management of social networks.
Key Takeaways
- Media monitoring tools market size in North America was USD 1.87 billion in 2022
- Software/Platform Segment to Dominate Driven by Growing Google Alert & Hootsuite Demand
- Online Media Monitoring Segment to Emerge Prominent Impelled by Increasing Internet Usage
- Cloud-based Segment Share to Rise Owing to Growing Demand from Enterprises
- Large Enterprises Segment to Exhibit Appreciable Upsurge on Account of Rising Investments
Discover the Leading Players Featured in the Report:
“Companies leading the global media monitoring tools market are Semantrum LLC (Ukraine), Cision Ltd. (U.S.), Meltwater News US, Inc. (U.S.), Critical Mention, Inc. (U.S.), Sprout Social, Inc. (U.S.), TVEyes, Inc. (U.S.), Semrush Holdings, Inc. (U.S.), Hootsuite Media, Inc. (Canada), BurrellesLuce (U.S.), Mention (U.S.), Brand24 Global, Inc. (U.S.), BuzzSumo Ltd. (U.S.), Oracle Corporation (U.S.), Zoho Corporation (India), Onclusive, Inc. (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 16.4% |
| 2030 Value Projection | USD 13.40 Billion |
| Base Year | 2022 |
| Media Monitoring Tools Market Size in 2022 | USD 3.96 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 170 |
| Segments covered | Component, Type, Deployment, Enterprise Type, Application, Industry and Geography |
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Drivers and Restraints:
Market Value to Rise Due to Growing Deployment of Cloud-based Solutions
One of the key factors boosting the media monitoring tools market growth is the escalating adoption of SaaS-based or cloud-based platforms such as LexisNexis, Meltwater, Cision Communications Cloud, and others. The platforms allow businesses to monitor, track, and visualize the performance of their cloud-based services or applications.
However, the industry expansion could be affected by the high costs involved at the initial stage.
Segmentation
By Component
- Software/Platform
- Services
By Type
- Print Media Monitoring
- Broadcast Media Monitoring
- Online Media Monitoring
- Social Media Monitoring
- Others (Podcast Monitoring)
By Deployment
- On-Premise
- Cloud
By Enterprise Type
- SMEs
- Large Enterprise
By Application
- Customer Experience & PR Management
- Real-time Analytics
- Content Management
- Digital Marketing and Sales Management
- Others (Security & Risk Management)
By Industry
- BFSI
- Healthcare
- Media and Entertainment
- Retail & E-commerce
- IT & Telecommunication
- Others (Education)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
North America to Lead Propelled by Adoption of Advanced Technologies
The presence of major players and the adoption of advanced technologies are anticipated to augment the North America media monitoring tools market share over the projected period. The regional expansion is further propelled by the escalating launch of new social media tools.
The Asia Pacific market is slated to grow at a considerable pace over the study period. The rise is on account of the growing demand for media tracking software tools such as Sysomos, Talkwalker, Brandwatch, Synthesio, and others across SMEs.
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Competitive Landscape:
Major Players Ink Partnership Deals to Expand Product Reach
Leading industry participants are centered on adopting an array of strategic initiatives for the expansion of their geographical footprints. These include partnerships and collaborations. Other steps comprise the formation of alliances and growing participation in trade conferences.
FAQs
How big is the media monitoring tools market?
The media monitoring tools market size was USD 3.96 billion in 2022. It is expected to reach USD 13.40 billion by 2030.
How fast is the media monitoring tools market growing?
The media monitoring tools market will exhibit a CAGR of 16.4% during the forecast period, 2023-2030.
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