14-Jun-2021 | Zion Market Research
Some of key players in Social Media Management market are Amazon, IBM, Oracle, Falcon.io ApS, Google, Hootsuite Media Inc., Salesforce.com, Sprout Social, Inc., Sysomos, Zoho Corporation Pvt. Ltd., among others.
According to analysts at Zion Market Research, the global Social Media Management market accounted for USD 12.70 Billion in 2020 and is expected to reach USD 43.07 Billion by 2028, growing at a CAGR of 15.2% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Social Media Management Market By End-Users (Travel & Hospitality, Manufacturing, Media & Entertainment, Telecom & IT, Government & Public Sector, Healthcare & Life Sciences, Retail & Ecommerce, BFSI, and Others), By Application (Risk Management & Fraud Detection, Competitive Intelligence, Customer Experience Management, Sales & Marketing Management, and Others), By Service (Managed Services and Professional Services): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Massive Social Media Management Market to Spur Growth
The increased popularity of social media platforms, as well as the collection of enormous amounts of data across various industries such as e-commerce, retail, public, and government, is one of the primary reasons driving the worldwide social media management industry.
Profit margins are continuing to be pressured by global competition, and organisations are constantly seeking for methods to decrease expenses. Companies must mix demographic, competitive, and business information with consumer data to reveal the intricacies in order to outperform their competition. Organizations are reviewing sales and various markets in an attempt to uncover holes. In recent years, customers have become increasingly brand conscious. They demand better quality, lower prices, and faster delivery of products and services. Market objectives are being achieved with the use of advanced analytics. Because enterprises are embracing Software-as-a-Service (SaaS) to provide cloud computing solutions, cloud adoption is believed to have increased recently. Business users are always looking for the most effective and cost-effective solutions. Businesses can outsource their operational IT responsibilities to a third-party vendor using cloud computing.
Presence of Big Players in The Region Support Asia Pacific Dominance
The Asia Pacific region is projected to grow at a CAGR of 18.3% over the forecast period. Due to the increasing penetration rate of smartphones and internet connections in growing and growing regions, Asia Pacific is predicted to rise rapidly during the projection period. The Asia Pacific region is expected to make a considerable contribution to global sales growth. The rise of social media management software, tools, services, and solutions in Asia Pacific is expected to be fuelled by increased penetration of SMEs in developing countries like China and India, as well as a growing desire to extend possible consumer bases in this region.
Because of the higher adoption rate of social media platforms in the region, North America represents the largest share of the global social media management market, accounting for 35%. North America generates the greatest income in the global social media analytics market.
Browse the full “Social Media Management Market By End-Users (Travel & Hospitality, Manufacturing, Media & Entertainment, Telecom & IT, Government & Public Sector, Healthcare & Life Sciences, Retail & Ecommerce, BFSI, and Others), By Application (Risk Management & Fraud Detection, Competitive Intelligence, Customer Experience Management, Sales & Marketing Management, and Others), By Service (Managed Services and Professional Services): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/social-media-management-market
The global Social Media Management market is segmented as follows:
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