Meticulous Research®—a leading global market research company, published a research report titled, ‘Social Media Management Market by Solution (E-mail Campaign, Scheduling, Monitoring), Organization Size (Small & Medium Sized Enterprises and Large Enterprises), Vertical (Market Agencies, BFSI, FMCG), and Geography - Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the social media management market is projected to reach $12 billion by 2030, at a CAGR of 25% during the forecast period of 2023 to 2030.The growth of the social media management market is driven by the increasing need for customer engagement using social media, the need for integrated platforms for managing various social media accounts, the high demand for social management solutions from businesses for lead generations, and the need for effective collaboration and coordination among teams.
The increasing adoption of social media management solutions by SMEs and the increasing integration of these solutions with various marketing channels are expected to offer significant growth opportunities for players in the social media management market. However, intense competition, constantly changing social media algorithms, and concerns regarding data privacy and security, particularly among large enterprises, may hinder the growth of this market.
Furthermore, the high demand for tailored social media management platforms and the integration of these platforms with popular messaging apps such as WhatsApp, Messenger, and WeChat is the latest trend in the social media management market.
Meticulous Research® has segmented this market based on solution, organization size, vertical, end-use industry, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on solution, the social media management market is segmented into e-mail campaign, scheduling, monitoring, analytics, listening, CRM, team collaboration, advertising management, and AI content writer. In 2023, the e-mail campaign segment is expected to account for the largest share of the social media management market. E-mail campaigns can be a valuable tool in social media management. They enable businesses to reach a specific audience segment that has already shown interest in a product or service. Furthermore, E-mail campaigns allow businesses to build customer relationships by providing valuable content and information. This approach increases brand loyalty, leading to repeated purchases. Moreover, e-mail campaigns are cost-effective, offering a more affordable alternative than traditional advertising methods like TV and print ads while delivering a higher return on investment.
Overall, leveraging e-mail campaigns in social media management can be a valuable tool for businesses aiming to promote their products or services while establishing strong customer relationships. These benefits contribute to the large market share of this segment.
Based on organization size, the social media management market is segmented into small & medium-sized enterprises and large enterprises. In 2023, the large enterprises segment is expected to account for the largest share of the social media management market. The large market share of this segment is attributed to the increasing demand for comprehensive solutions that assist in managing social media accounts, tracking performance, and making data-driven decisions among large enterprises. Additionally, large enterprises benefit from their size and resources, allowing them to compete more effectively and offer a wider range of services than smaller companies. Some of the leading social media management solutions widely used by large enterprises are Hootsuite, Sprinklr, Sprout Social, Salesforce Social Studio, and Adobe Experience Manager. These solutions offer diverse features and pricing options tailored to meet the specific needs of large enterprises.
Based on vertical, the social media management market is segmented into market agencies, BFSI, FMCG, IT & telecom, electronics & semiconductors, media & entertainment, education, pharma & healthcare, automobile, and other verticals. In 2023, the marketing agencies segment is expected to account for the largest share of the social media management market. The large market share of this segment is attributed to the expertise offered by marketing agencies in creating and executing effective social media strategies for businesses. Furthermore, outsourcing social media management to agencies allows businesses to focus on their core operations. Marketing agencies also utilize data and analytics to measure the effectiveness of social media campaigns, enabling data-driven decision-making and optimization. These factors contribute to the significant market share of this segment.
Based on geography, the social media management market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the social media management market. North America’s major market share is attributed to the increasing adoption of social media platforms among businesses, the rising demand for social media analytics, and the increasing need for social media management software that can handle multiple accounts and platforms. North America is home to some of the world's largest social media platforms, including Facebook, Twitter, LinkedIn, and Instagram, which has driven the demand for social media management software and services in the region. The U.S. is the largest social media management software and services market in North America, accounting for the majority of the market share. Canada is also a significant market for social media management, with a growing number of businesses adopting social media platforms for marketing and customer engagement.
The key players operating in the social media management market are Adobe Inc. (U.S.), Qualtrics XM (U.S.), IBM Corporation (U.S.), HubSpot, Inc. (U.S.), Google LLC (U.S.), Oracle Corporation (U.S.), Buffer (U.S.), Sprinklr, Inc. (U.S.), Zoho Corporation (India), Falcon.io (Denmark), Brandwatch (U.K.), Hootsuite Inc. (Canada), Digimind (France), Agorapulse SAS (France), and NetBase Quid (U.S.).
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