"Smart Strategies, Giving Speed to your Growth Trajectory"
The global media monitoring tools market size was USD 2.74 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with media monitoring solutions/services witnessing a positive demand shock across all regions amid the pandemic. Based on our analysis, the global market exhibited a significant growth of 10.6% in 2020 as compared to year-on-year growth during 2017-2019. The market is projected to grow from USD 3.04 billion in 2021 to USD 7.25 billion in 2028 at a CAGR of 13.2% in the 2021-2028 period. The steady rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
In the current era, the demand for monitoring tools among enterprises is growing owing to the robust digitalization and rising adoption of web & social media platforms by end-users. The rising investments in digital advertising and increasing internet penetration are likely to drive the growth of the market. In addition, the rising demand for digital platforms, such as online magazines & newspapers, and e-books, along with the advent of social media platforms is likely to fuel the growth of the market. For instance, according to Internet World Stats, the number of Facebook users is likely to reach around 2.22 billion globally in 2020.
Outbreak of COVID-19 to Uplift Demand Backed by Rising Usage of Social Media Platforms
The COVID-19 pandemic has changed the lives of millions of people worldwide. Internationally, countries have placed policies and restrictions on residence and social distancing that resulted in new consumer behaviors. The permanence at home mandate led to more opportunities for software providers in media monitoring. For example, Facebook, Inc. reported in March 2020 that messaging in its platforms has increased by over 50%. Furthermore, according to Twitter, every 45 milliseconds coronavirus tweets are shared and #coronavirus has become one of the trending hashtags of 2020. According to Ipsos, the impact of the COVID-19 pandemic is becoming a popular topic with over 24 million posts in the month of January and February. Social monitoring systems provide a dashboard in real-time and allow the monitoring of key trends and insights to monitor the wide-ranging impact of COVID-19.
The pandemic of COVID-19 will also reboot the adoption of new technologies and fuel business growth in the long term.
Request a Free sample to learn more about this report.
Increasing Adoption of AI-based Media Monitoring Solution will be a Fundamental Trend
In the ever-growing digital era, companies and organizations cannot track all business-relevant online conversations. However, it becomes easier for companies to track and evaluate patterns and media events with AI-based media monitoring software and tools. The incorporation of AI and Machine Learning (ML) technology into media monitoring solutions will enable broadcasters and media analytics teams to automate marketing and PR tasks, reduce human efforts, and provide stakeholders with greater opportunities to review competitors and brand mentions. Key players operating in the market are providing advanced AI-based monitoring platforms that aid in a better understanding of the company’s reputation and brand mentions. For instance,
Moreover, key players in the media monitoring tools market are launching advanced AI-powered solutions that help enterprises gain actionable social insights from large data sets. For instance,
Such initiatives by key players coupled with advanced benefits of AI-powered media monitoring solutions would contribute to the market growth for the long term.
Increasing Adoption of Social Media Analytics Platforms/Tools among Businesses to Aid Media Monitoring Tools Market Growth
Although the news is clearly the core content to be monitored, the increasing value of monitoring social media is now recognized by several organizations and enterprises. The published or uploaded content on the internet has gained significant credence and influence on various sites such as Facebook, Twitter, LinkedIn, and others. Consequently, it is important to keep track of social media in order to preserve the company's image and brand – and to better understand what customers think about the company, products, and clients. Media monitoring solutions help enterprises and companies streamline brand mentions and search parameters in a single platform and respond to the important messages and develop a business strategy accordingly.
Most corporations, non-profit organizations, and government agencies have started integrating media monitoring solutions to recognize their brands, organizations, and news media references. An effective media monitoring strategy allows companies to streamline brand information and search criteria in a single platform so that companies can respond to important messages and improve their market strategies. To continue competing in the ever-growing industry, companies are introducing media tracking tools to find information about their competitors and the trending solutions/services in the market. To assist companies and government organizations in strengthening their social media strategy, key players are launching different solutions.
Therefore, the rising adoption of social media analytics platforms by various enterprises is likely to drive the market growth over the forecasted period.
Data Privacy Issues Are Ascertaining to be an Inhibiting Factor for the Market Growth
Social media network users are often worried about the protection of their data and personal information. Data breaching incidents have distressed several users and prompted companies to revise their policies and the protection of personal information on social media. Several incidences and data violations have led to a loss of data through social media platforms. According to a survey conducted by IT web in 2018, social media data breaches accounted for approximately 58% of global data breaches. These increasing concerns about privacy have led to the promotion of stricter data privacy regulations. Hence, the adoption of media monitoring tools could be hindered by these problems.
Software/Platform Segment to Dominate the Market Growth
Based on the component, the market is divided into software/platform and services. Among these, the software/platform segment is estimated to hold the largest market share during the estimated period. The growth of the software/platform segment is attributed to the rising demand for media monitoring tools among enterprises, such as Hootsuite, Google Alert, and others. Additionally, the growth of digital data collected through various channels has prompted businesses to adopt med monitoring solutions that aid in strengthening brand mentions. Due to the growing use of media monitoring services, such as media cutting services, press clipping, logistics information, media intelligence, and others, the services segment is likely to exhibit the highest CAGR.
To know how our report can help streamline your business, Speak to Analyst
Social Media Monitoring Segment to Gain Traction Supported by Surging Internet Uses
Based on the type, the market is further segregated into print media monitoring, broadcast media monitoring, online media monitoring, social media monitoring, and others. The online media monitoring segment is projected to exhibit the highest market share in the coming years. The growth is attributed to the rising adoption of connected devices and increasing penetration of the internet.
The social media monitoring segment is anticipated to showcase the highest CAGR owing to the increasing adoption of social media platforms such as Facebook, Twitter, Instagram, and other end-users. Components, such as print media monitoring, broadcast media monitoring, and others are expected to exhibit a gradual growth rate owing to the rising implementation of the media monitoring platforms among enterprises.
Rising Demand for Cloud-based Solutions from Enterprises Will Drive this Segment
Based on the deployment, the market is categorized into cloud and on-premise. The cloud segment is anticipated to exhibit the highest CAGR during the predicted period. The increasing adoption of SaaS-based social media monitoring platforms across various industry verticals, such as BFSI, media and entertainment, and retail is expected to drive the growth of the segment. Cloud-based media monitoring platforms enable broadcasters and PR professionals to efficiently manage brand mentions and organizations’ reputations. The on-premise segment is expected to show moderate growth owing to the upgrade requirements, security regulations, and high initial setup effort, among others.
Large Enterprises Segment to Grow Rapidly Owing to Investments in Novel Technologies
Small and medium enterprises (SMEs) are adopting cost-effective media monitoring tools integrated with digital technologies such as cloud and artificial intelligence (AI) in their operations. The SME segment is therefore anticipated to showcase strong growth in the coming years.
The large enterprise segment, on the other hand, is expected to hold the major share during the estimated period. The availability of ICT infrastructure, efficient communication strategies and business channels, and significant investments in advanced technologies will contribute to the higher market share of this segment.
Digital Marketing & Sales Management Segment is Likely to Exhibit Significant Growth
Based on the application, the market for media monitoring tools is segregated into customer experience & PR management, real-time analytics, content management, digital marketing & sales management, and others. The digital marketing & sales management segment is anticipated to hold the dominant market share owing to the rising adoption of tools to collect & analyze social data, manage the organization's reputation, and monitor competitors.
The content management segment is expected to gain traction owing to the enterprises’ rising need to categorize, organize, and monitor all the content in an efficient way. Segments, such as customer experience & PR management, real-time analytics, and others, are likely to exhibit gradual CAGRs in the coming years. The increasing demand from enterprises to offer customized and real-time content to the target audience is expected to boost the demand for media monitoring tools in such applications. In addition to this, the growing deployment of tools to track various online media channels, PR & marketing campaigns, and customer experience insights is also likely to fuel the product demand in the near future.
Retail & E-commerce Segment to Lead Stoked by Rising Usage of Social Intelligence Platforms
Based on the industry, the market is fragmented into BFSI, healthcare, media and entertainment, retail & e-commerce, IT & telecommunication, and others. During the forecast period, the retail & e-commerce segment is projected to hold the dominant share. The growing use of social intelligence to communicate with target audiences as well as to promote and monitor online content in real time will contribute to the growth of this segment.
The healthcare segment is expected to gain traction during the forecasted period. The rising healthcare expenditure by governments, increasing deployment of healthcare monitoring and analytics tools, and surging digitalization across the globe are anticipated to boost the segment growth. Healthcare professionals find a variety of social media information through which patients interact with healthcare professionals. Healthcare and pharmaceutical companies can use this data created by users to communicate with possible patients and spread awareness about drugs and diseases. Media surveillance can also be used to provide information on technological updates, medicines, illnesses, etc. In addition to that, the rising adoption of media tracking tools across the BFSI, media and entertainment, IT & telecommunication, and other industries is expected to propel the market in the forthcoming years.
North America Media Monitoring Tools Market Size, 2020 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
Geographically, the global media monitoring tools market is segmented across five major regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
North America is expected to dominate the market in terms of revenue in the global market during the predicted period. The early adoption of advanced technologies and the presence of major key players, such as Hootsuite, Oracle Corporation, Salesforce.com, Inc., and others, are set to boost the demand for media tracking tools across the U.S. and Canada. These players are focusing on launching new social media tools in order to improve their product portfolios.
Asia Pacific is expected to grow exponentially during the forecasted period. The growth is attributable to the increasing demand for media tracking software tools such as Synthesio, Sysomos, Brandwatch, Talkwalker, and others, across SMEs in this region. Key market players are focusing on mergers and acquisitions strategies to enhance their product portfolios.
To know how our report can help streamline your business, Speak to Analyst
Europe is expected to develop with a considerable growth rate due to the presence of a significant number of media monitoring software providers. The Middle East & Africa (MEA) and South America are expected to experience radical growth in the coming years. The increasing investment and funding raised by governments to adopt advanced technologies, such as cloud, ML, AI, and 5G are expected to boost demand for tools in MEA and South America.
Emphasis of Key Players towards Developing Advanced Media Monitoring Tools to Strengthen Competition
Companies operating in the global market including Oracle Corporation, Hootsuite, Google LLC, and others are currently deploying media monitoring tools with advanced technologies such as AI, ML, cloud, and others. ML-based media tracking tools enable organizations to track their competitive landscape and changes in regulation to make faster and smarter business decisions. Also, the high competition in the market is forcing service providers to focus on acquisition strategies for strengthening their positions.
An Infographic Representation of Media Monitoring Tools Market
To get information on various segments, share your queries with us
The media monitoring tools market research report provides an in-depth analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several key factors that have contributed to the growth of the advanced market over recent years.
2017 – 2028
2021 – 2028
2017 – 2019
Value (USD Billion)
By Enterprises Size
According to Fortune Business Insights, the global market size is expected to reach USD 7.25 billion by 2028.
Fortune Business Insights says that the market value stood at USD 2.74 billion in 2020.
North America is expected to lead the market during the forecast period
The market is expected to grow at a CAGR of 13.2% in the forecast period (2021-2028).
Within type, the software/platform segment is expected to lead the market during the estimated period.
The rising adoption of social media analytics tools among enterprises is one of the key drivers for market growth.
Cision Ltd., Meltwater, Hootsuite, Salesforce.com, Inc., and Oracle Corporation are the top companies in the market.
The retail & e-commerce industry segment holds the major market share.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry