Social Media Monitoring Tools Market to Witness Stellar Revenue Growth Across Top Regional Pockets
Expanding social media content volume is the key factor contributing to the growth of global Social Media Monitoring Tools s market. Social Media Monitoring Tools is a software equipped with various functionalities for tracking, listening, and gathering relevant content across various social media networks. Social Media Monitoring Tools s are used by marketing, and communications team of organizations across various industries to identify the trends, track competitors, understand customer behaviour, and also to map sentiments. Social Media Monitoring Tools s are developed to understand social media presence, demographic data, and to improve a brand’s reputation. Social Media Monitoring Tools s helps to identify thought leaders & influencers, specific mentions about a product/company/ individual, and trending topics or phrases across the social media.
Social Media Monitoring Tools Market: Market Dynamics
Expanding social media users coupled with increasing amount of time people spend on social media is the prominent factor drives the growth of global Social Media Monitoring Tools market. Increasing investments on digital advertising, rising dependency on social media advertising tools to reach customers, increasing focus on understanding customer preference on particular products, and growing trend on delivering personalized content based on current trends accelerates the growth of global Social Media Monitoring Tools market. Additionally, increasing number of smartphone users and growing trend towards accessing social media content through mobile devices fuels the growth of global Social Media Monitoring Tools market. However, constraints on lack of proper insights to identify the return on interment Social Media Monitoring Tools s is identified as restraints likely to deter the progression of global Social Media Monitoring Tools market.
Social Media Monitoring Tools Market: Market Segmentation
The global Social Media Monitoring Tools market is segmented on the basis of component, end-user, application, industry, and region.
On the basis of component, the global Social Media Monitoring Tools market can be segmented into;
• Software Platform
• Professional Service
• Managed Services
On the basis of end-user, the global Social Media Monitoring Tools market can be segmented into;
• Large Enterprise
• Small & Medium Enterprise
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On the basis of application, the global Social Media Monitoring Tools market can be segmented into;
• Real Time Analytics
• Customer Experience Management
• Social Media Intelligence
• Content Management
On the basis of industry, the global Social Media Monitoring Tools market can be segmented into;
• Retail & Consumer Goods
• Media & Entertainment
• Travel & Hospitality
Social Media Monitoring Tools Market: Regional Outlook
In terms of regions, the Social Media Monitoring Tools market can be segmented across North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa. Among all regions, Social Media Monitoring Tools market in the North American region is expected to dominate the market due to increasing investment on digital advertising solutions. North America is expected to be followed by Western Europe in the Social Media Monitoring Tools market, during the forecast period. Asia Pacific is projected be the fastest growing Social Media Monitoring Tools market due expanding social media users, and increasing preference for market intelligence solutions.
Social Media Monitoring Tools Market: Competitive Landscape
Some of the prominent vendors in the global Social Media Monitoring Tools market include salesforce.com, Inc. (Radian6), Oracle (Collective Intellect), Lithium Technologies Inc., Hootsuite Inc., Sysomos Inc., Union Metrics, Klout, BuzzSumo, Webtrends, and Zoho Corporation Pvt. Ltd.
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