New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Media Monitoring Tools Global Market Report 2023" - https://www.reportlinker.com/p06479945/?utm_source=GNW
, Sprinklr Inc., YouScan, Buzzcapture BV and Ubermetrics Technologies GmbH & Co KG.
The global media monitoring tools market is expected to grow from $3.88 billion in 2022 to $4.44 billion in 2023 at a compound annual growth rate (CAGR) of 14.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The media monitoring tools market is expected to reach $7.73 billion in 2027 at a CAGR of 14.9%.
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.
Media monitoring tools refer to a collection of tools that help in keeping track of online presence. It is used to follow target consumers, evaluate attitudes about any business, and assess communications and marketing initiatives.
North America was the largest region in the media monitoring tools market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main media monitoring tools component types are software, and service.Software refers to a collection of instructions, or a set of "programs" that carry out certain actions in response to the user’s requests.
The various deployment models are on premise, and cloud.The other types are print media monitoring, social media monitoring, broadcast media monitoring, online media monitoring, and other applied in customer experience and PR management, real-time analytics, content management, digital marketing and sales management, and others.
The end users are healthcare, BFSI, IT and telecom, media and entertainment, retail and e-commerce, manufacturing, and others.
The rising adoption of social media is expected to boost the growth of the media monitoring tools market going forward.Social media refers to a group of websites and software programs that emphasize cooperation, interaction, sharing of material, and community-based input.
Social media platforms need media monitoring tools for tracking audiences and industry by keeping an eye on trends, hashtags, keywords, and mentions of any given business; hence, the rising adoption of social media is expected to boost the media monitoring tools market. For instance, according to a report published by Hootsuite Inc., a US-based provider of social media tools to businesses, in 2023, the number of social media users worldwide is 4.74 billion, and social media is used by more than 93% of internet users. Further, In North America, 76% of people utilize social media. Therefore, the rising adoption of social media is driving the growth of the media monitoring tools market.
Technological advancements are the key trend gaining popularity in the media monitoring tools market.Major companies operating in the media monitoring tools market are focused on developing new technological solutions to strengthen their position.
For instance, in July 2020, Onclusive, a US-based media monitoring platform, launched two new products: Essentials and Pro, the recent additions to the Onclusive software suite for media monitoring.These products have the unique feature to offer communications teams intelligent media monitoring that can be scaled across teams of any size and offers real-time, dynamic measurement and reporting.
Essentials and Pro provide quick, AI-driven insights for developing communications strategies and evaluating their effectiveness. Onclusive Pro automates the process of arranging findings and producing reports, saving hours each week.
In May 2022, Onclusive, a US-based developer of media monitoring software, acquired Critical Mention Inc. for an undisclosed amount. Through the purchase, Onclusive has a much larger global reach and is better able to serve clients all over the world by providing US broadcast monitoring and media contact services. Onclusive expects that this acquisition is going to make it easier for it to fulfill its promise to provide a full range of industry-leading worldwide media monitoring, measuring, and management solutions. Critical Mention Inc. is a US-based media monitoring platform.
The countries covered in the media monitoring tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The media monitoring tools market research report is one of a series of new reports 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.
Read the full report: https://www.reportlinker.com/p06479945/?utm_source=GNW
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