Social Media Management Market Size, Share and Global Trend By Component (Solution, Services), By Application (Sales and Marketing Management, Customer Experience Management, Competitive Intelligence, Risk Management and Fraud Detection), By Industry Vertical (Telecom and IT, Media and Entertainment, Manufacturing, Travel and Hospitality), By Deployment (Cloud-based, On-premise), and Geography Forecast till 2030

Social media management functions as a platform for interacting with the target audience and spreading content across social media channels such as Facebook, Instagram, Twitter, LinkedIn, YouTube, and Pinterest. Social media management has the potential to offer new opportunities for companies to increase their reach and visibility.

This software can also help companies to measure and manage data gathered from all sorts of social platforms so as to analyse how many people, companies or users their data is reaching and whether or not the targeted audience is appropriately engaging with the content. The result of the analysis is shown in formatted graphs, which can be used to compare and benchmark all the campaigns against other strategies.

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Industries majorly adopting social media management software are BFSI, retail, E commerce, government and public sector, healthcare, telecom & it, media & entertainment, manufacturing, travel & hospitality, among others. With the boom in the digital industry and collaboration of banks, it is essential to reach to your customer and be available on every social media platform. Social media management is of strategic importance for the BFSI sector as for customer acquisition, service sales, analytical modelling, credit scoring, decision analysis, among others. With diverse social platform adoption through mobile, tablets, computer for all the daily activities, it is important for every industry to be present on all platform to increase their visibility and reach. Similarly, travel and tourism have a tremendous scope on these platforms such as for personalized travel itinerary builder, travel planning and booking, greater travel brand awareness, mobile ticketing, mpay tools, opportunities for exceptional ROI, hotel search and booking platforms, greater hospitality brand awareness, community safety app, real-time community networking among others.

Key Players Covered

The key players in social media management Market are IBM Corporation, Salesforce.com, Inc., Oracle Corporation, Cognizant, Adobe Inc., Hootsuite, Sprout Social, Google Inc., Sysomos, Sprinklr, Digimind, Clarabridge, Spreadfast, Falcon.io, Zoho, and Lithium Technologies, among others.

Sprout Social, a social media management app provides easy publishing on various of social platforms; this tool was built for providing excellent customer service via social media and for indirect engagement opportunities.

SEGMENTATION

Regional Analysis

The digital world has been growing tremendously, with estimated growth of more than 4 billion people around the globe using the internet. Smartphone is the most used device for operating social media, and its purchase Is likely to be increased by 15 percent over the year, and it is expected to go beyond 5 Bn by 2020. North America is the largest consumer of social media management software as it’s the fastest adapting and growing social media platforms users. The expenditure on advertising on digital and social media platform is expected to grow by 30 to 35% by 2020. Facebook and YouTube are the most active user platforms over the world, with expected growth of more than 1.5 Billion and 1 Billion respectively. In Asia Pacific, the expenditure by an internet user on mobile and entertainment is expected to increase by 40 percent during the second half of the forecast period.

Key Industry Developments

• March 2019: Hootsuite along with Adobe Experience Platform announced its plan to unite social data with omni-channel Campaigns. This combination will carry insights from social action to Adobe's Real-Time Customer Profile, empowering Adobe clients to convey omni-channel for promoting activities that is expected to educate their clients' online behaviour
• May 2019: Insights utilizes Sprinklr's AI abilities called Sprinklr Intuition AI in order to naturally classify client remarks across over online life, audit locales (counting Amazon, Walmart, and Best Buy), and possessed information. For instance, surveys, focus groups and emails on product feedback related to design, packaging, performance or features.