Social Media Management Market 2024 : Industry Analysis, Trends, Segmentation, Regional Overview And Forecast 2033

Overview and Scope
Social media management refers to the constant process of developing and planning content for various online platforms with the goal of fostering and growing an audience. It is used for various purposes, such as community administration, management of online reputation, and content creation for social media strategy.

Sizing and 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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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

North America was the largest region in the social media management market in 2023. The regions covered in the social media management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
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.

Key Industry Players
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.

The social media management market report table of contents includes:

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. Global Social Media Management Market Size and Growth
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