Press release
Global Media Monitoring Tools Market Size to Grow at a CAGR of 13.50% in the Forecast Period of 2022-2027
Media Monitoring Tools Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 2.99 billion
• Forecast CAGR (2022-2027): 13.50%
• Forecast Market Size (2027): USD 6.39 billion
The rapid boom of social media is fuelling the demand for media monitoring tools. Electronic manufacturing companies, FMCG producers, and automotive manufacturing firms utilise media monitoring tools to facilitate customer engagement as well as to expand their customer base. Meanwhile, the growing availability of high-speed internet at affordable costs is another crucial driving factor of the global media monitoring tools market.
Over the forecast period, the anticipated increase in adoption of modern electronic devices such as smartphones and laptops, is likely to fuel the demand for cloud-based media monitoring software. Rising disposable income, increasing number of corporate workers, and rapid urbanisation, are some of the factors which are spearheading the investments towards PR and digital marketing strategies.
Moreover, media monitoring tools offer useful actionable insights, real-time media intelligence, and cross platform monitoring which save time and money. In this regard, the increasing awareness pertaining to the advantages offered by media monitoring is likely to bolster the global media monitoring tools market.
Media Monitoring Tools Industry Definition and Major Segments
Media monitoring tools are defined as the tools used for analysing all the information available to the public. Media monitoring tools also examine positive or negative publicity which helps companies understand the market dynamics. The increasing use of media monitoring tools in online platforms is propelling the growth of the market for media monitoring tools.
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Based on component, the market can be segmented into:
• Software
• Services
On the basis of enterprise size, the market has been classified into:
• SMEs
• Large Enterprises
The market can be broadly categorised based on industry into:
• IT and Telecom
• Hospitality
• BFSI
• Healthcare
• Retail and E-commerce
• Media and Entertainment
• Manufacturing
• Others
On the basis of region, the market can be categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Media Monitoring Tools Market Trends
The key trends in the global media monitoring tools market include the technological advancements in small, medium, and large enterprises. The heightening use of tech-enabled devices are further augmenting the usage of media monitoring tools. Meanwhile, the upgradations in cloud-based media monitoring software are another crucial trend in the market.
The growing efforts by organisation owners towards augmenting crisis management, increasing effectiveness of campaigns, tracking success, and expanding the opportunities for larger customer bases, are further increasing the demand for media monitoring tools.
Over the forecast period, the anticipated increase in growth of the e-commerce industry is a major media monitoring tools market propelling trend. In addition, the increasing purchasing power of the urban population is likely to provide impetus to the market in the coming years.
In geographical terms, North America accounts for a significant share in the market, which is being driven by the advanced digital infrastructure.
Key Market Players
The major players in the media monitoring tools market report are:
Agility PR Solutions LLC
BoomSonar
BurrellesLuce
Buzzcapture B.V
Cision Ltd
Coosto BV
Critical Mention, Inc.
Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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