Social Media Management Market Report 2024: Strategies And Recent Developments

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Social Media Management Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The social media management market size has grown exponentially in recent years. It will grow from $22.75 billion in 2023 to $28.27 billion in 2024 at a compound annual growth rate (CAGR) of 24.3%. The growth in the historic period can be attributed to rise of social media platforms, businesses embracing social media, analytics and data insights, rise of influencer marketing, customer engagement focus .

The social media management market size is expected to see exponential growth in the next few years. It will grow to $67.92 billion in 2028 at a compound annual growth rate (CAGR) of 24.5%. The growth in the forecast period can be attributed to video content dominance, privacy and data security concerns, cross-platform integration, social commerce integration. Major trends in the forecast period include integration of ai and automation, rise of ephemeral content, real-time engagement and customer service, greater emphasis on social listening, technological advancements in social media.

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Market Segmentation:
The social media management market covered in this report is segmented -

1) By Component: Solutions, Services
2) By Organization Size: Small and Medium Scale Enterprises, Large Enterprises
3) By Application: Competitive Intelligence, Sales And Marketing Management, Customer Experience Management, Risk Management, Other Applications
4) By Industry Vertical: Banking, Financial Services, And Insurance, Retail And E-commerce, Government And Public Sector, Healthcare And Life Sciences, Telecom And IT, Media And Entertainment, Manufacturing, Travel And Hospitality

Major Driver - Surging Social Media Usage Fueling The Expansion Of Social Media Management Market
Rising widespread penetration of social media is expected to propel the growth of the social media management market going forward. Social media is an internet-based communication service that allows people to share text and multimedia over virtual networks and communities and to create web content. The scope and impact of social channels grew, and social media management advertising strategies became more standardized across major platforms, providing considerable commercial benefits. For instance, in September 2022, according to a study by the University of Maine, a US-based public land-grant research university, globally, 4.48 billion people use social media, more than double from 2.07 billion in 2015. Further, according to We Are Social, a socially-led creative firm located in the United States, 2.14 billion active social media users, or a staggering 50% penetration rate, were discovered in Asia-Pacific in 2020. It climbed by 9.8% between April 2019 and January 2020, reaching 190 million more active social media members. Therefore, the rising widespread penetration of social media is driving the growth of the social media management market.

Competitive Landscape:
Major companies operating in the social media management market report are Adobe Inc., Clarabridge Inc., Digimind Inc., Falcon.io, Google LLC, Hootsuite Inc., HubSpot Inc., IBM Corporation, Meltwater Group ASA, NetBase Quid Inc., Oracle Corporation, Salesforce.com Inc., Sprinklr Inc., Sprout Social Inc., Talkwalker Inc., Zoho Corporation, Khoros LLC, Cognizant Technology Solutions Corporation, Sysomos Inc. , Spreadfast Inc., Lithium Technologies Inc., Qualtrics International Inc., Cision Ltd., Buffer Inc., Agorapulse Inc., Sendible Social Media Marketing Software, MavSocial Inc., Emplifi GmbH, Synthesio SA, Eclincher Inc.

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Top Trend - Innovative Product Advancements Transforming The Social Media Management Landscape
Product innovation is a key trend gaining popularity in the social media management market. Companies operating in the social media management market are innovating their products to sustain their position in the market. For instance, in March 2023, Hookle, a Finland-based, AI-powered all-in-one social media management platform built for small businesses, launched a social media posting software powered by AI that uses OpenAI's ChatGPT technology to allow company owners to post to social media effortlessly. It includes scheduling for social media posts on several platforms, AI-powered content production, and the capacity to publish to many channels at once, available for both iOS and Android platforms. With this launch, it is possible to create premium social media posts specifically catered to the user's business needs by integrating the ChatGPT engine with Hookle's patented social media monitoring technology.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Social Media Management Market Characteristics
3. Social Media Management Market Trends And Strategies
4. Social Media Management Market - Macro Economic Scenario
5. Social Media Management Market Size And Growth
…..
27. Social Media Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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