Social Media Management Market Size and Share, Regional Analysis, Future Growth, Trends Evaluation, Demands and Forecast to 2028

According to our new research study, titled "Social Media Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Deployment, Enterprise Size, Application, Vertical, and Geography," the market is projected to reach US$ 63,747.4 million by 2028 from US$ 17,315.0 million in 2022; it is estimated to grow at a CAGR of 24.3% from 2022 to 2028.

Social media management includes tracking customer activity on social media, which helps an organization plan strategy and gain insights. In addition, it allows companies to track competitors' actions. Further, social media management platforms help users with various information about social media users, including their perceptions, expectations, and needs. Handling and managing social media also include engaging and interacting with social media users. Social media management functions as a platform for interacting with a target audience and spreading content across social media channels, such as Instagram, Facebook, LinkedIn, YouTube, and Pinterest. Over the next few years, social media management will offer new opportunities for companies to increase their reach and visibility.

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The use of social media management is increasingly adopted by small and medium enterprises (SMEs) due to the growing number of SMEs and shifting focus toward online marketing, such as social media marketing. Interacting with consumers on social media is an important marketing strategy for small businesses. Using social media helps a company build brand awareness, increase the company's customer base, and connect with current customers. Marketing through social media is easy for small business owners as long as the company actively posts on social media pages, and it is a cost-effective marketing approach.

Top Industry Players Including :

•Adobe
•IBM Corporation
•Google LLC
•Oracle Corporation
•Salesforce.com, inc.
•HubSpot, Inc.
•Zoho Corporation Pvt. Ltd.
•Meltwater
•Brandwatch
•Sprout Social, Inc.

The social media management market analysis by component, the market is classified into solutions and services. The market analysis by deployment, the market is bifurcated into cloud-based and on-premises. Based on enterprise size, the market is segmented into SMEs and large enterprises. Based on application, the social media management market is segmented into sales and marketing management, customer experience management, competitive intelligence, and risk management and fraud detection. Based on vertical, the market is segmented into BFSI, retail, healthcare, IT and telecommunications, media and entertainment, and others. Based on geography, the global market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

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Impact of COVID-19 Pandemic on Social Media Management Market

While the COVID-19 pandemic posed major threats to organizations worldwide, it offered significant opportunities for the growth of social media management platforms. The internet is being used by the BFSI, healthcare & life sciences, manufacturing, retail, and transportation & logistics industries to provide critical services through social media platforms to consumers. Hence, the demand for social media management has surged among vendors. Various governments and regulatory agencies forced public and private organizations to accept new teleworking techniques and follow social distance during the pandemic. The increase in the number of COVID-19 cases resulted in significant growth in the social media management market.

There are several prospects for social media management suppliers, such as the massive amounts of data created by social media platforms, the rise in cloud usage patterns, and the high acceptance rate of social media management solutions among small and medium-sized businesses. However, legal and compliance restrictions, a lack of common standards, difficulties in management workflow, and legislation limit industry expansion.

The research provides answers to the following key questions:

•What is the estimated growth rate of the market for the forecast period 2022-2028? What will be the market size during the estimated period?
•What are the key driving forces responsible for shaping the fate of the Social Media Management market during the forecast period?
•Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Social Media Management market?
•What are the prominent market trends influencing the development of the Social Media Management market across different regions?
•What are the major threats and challenges likely to act as a barrier in the growth of the Social Media Management market?
•What are the major opportunities the market leaders can rely on to gain success and profitability?

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Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com    
Phone: +1-646-491-9876

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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