Media Monitoring Tools Market Size, Share & COVID-19 Impact Analysis, By Component (Software/Platform, and Services), By Type (Print Media Monitoring, Social Media Monitoring, Broadcast Media Monitoring, Online Media Monitoring), By Deployment (Cloud, and On-premises), By Enterprise Size (SMEs, and Large Enterprises), By Application (Customer Experience & PR Management, Real-Time Analytics, Content Management, Digital Marketing & Sales Management), By Industry (BFSI, Healthcare, Media & Entertainment, Retail & e-commerce, IT & Telecommunication), and Regional Forecast, 2022-2029

The global media monitoring tools market size was valued at USD 3.39 billion in 2021. The market is projected to grow from USD 3.96 billion in 2022 to USD 11.54 billion by 2029, exhibiting a CAGR of 16.5% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market had exhibited a higher growth of 5.7% in 2020 as compared to 2019.

The report includes software and services offered by key players such as Oracle Corporation, BuzzSumo Ltd., Brand24 Global, Inc., Hootsuite Media, Inc. and others. These companies offer media monitoring platforms and tools such as smart social media monitoring by Brand24 Global, Inc., the digital market tool offered by Zoho Corporation Pvt. Ltd. The social media management platform by Hootsuite Inc. Increasing digitization and surge in the usage of online and social media platforms by end-users have propelled the global market growth. Further, the industry is expected to increase owing to rising investments in digital advertising and rising internet penetration. According to the IDC Report in 2020, the global digital transformation investment reached USD 6.8 trillion owing to the government and private investment in digitalization. Furthermore, increasing demand for digital platforms such as online magazines, newspapers, and e-books and the introduction of social media platforms are expected to propel the industry forward. According to Internet World Stats, the global Facebook platform’s daily active users reached around 1.90 billion, increasing by 6.9% in 2021. Also, the Facebook active monthly users reached 2.90 billion with access to Facebook’s platform, which increased by 7.18% in 2021 compared to 2020. The increase in the active number of social media platform users globally has urged the global market trend rapidly.

COVID-19 IMPACT

Outbreak of COVID-19 to Boost Demand Backed by Rising Usage of Social Media Platforms

The COVID-19 pandemic is expected to have a positive impact on the market size during the analysis period. This is attributed to the rapid acceleration in the adoption of online digital media platforms supported by rising internet penetration. The global market witnessed a tremendous growth rate of 5.7% in 2020 as compared to 8.3% in 2019. In terms of revenue, the market witnessed an increase in revenue to 2.89 billion in 2020.

COVID-19 has transformed the work culture across numerous business verticals. The stay-at-home mandate resulted in increased opportunities for media monitoring software providers. For instance, in March 2020, Facebook, Inc. reported that messaging increased by more than 50%. Facebook reached 2.85 billion monthly active users in 2020 globally, followed by 2.3 billion users of YouTube, and over one billion users from Facebook Messenger, WhatsApp, WeChat, and Instagram. During the COVID-19 pandemic, social media platforms users witnessed more than 24 million posts in just two months, June and July 2020. In addition, social monitoring tools offer real-time tracking of the crucial insights and industry trends for observing the widespread COVID-19 impact. Also, during the COVID-19 pandemic, several leading players in the market are developing advanced tools for monitoring social media users, news and posts. For instance,

• In March 2020, Facebook-owned media monitoring tool CrowdTangle introduced an advanced searching tool and regional dashboards. It helps the journalists and students to track down COVID-19 related information and observe the evolving trends in the market.

Further, post-pandemic, the demand for monitoring tools has increased astoundingly due to a surge in internet and digital platform users.

LATEST TRENDS

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Rising Adoption of Social Media and Digital Platforms to Boost the Market Growth

The increasing adoption of advanced social media and video platforms such as Awario, Agorapulse, Keyhole, and others is expected to strengthen the market growth. The prominent players in the market are developing advanced social listening and digital content platforms. For instance,

• In June 2021- ListenFirst, Inc., a social media analytics solutions provider, launched Instant Insights, an advanced analytical tool. Its features include evaluating the brand’s performance on social media. It leverages advanced technologies such as AI and machine learning for delivering the analysis and required benchmark performance using the natural language.   

Further, rising trend of branding of product on social media platforms such as Facebook, Instagram, and others is expected to strengthen the global market growth. According to the ListenFirst’s Media Marketing Trends Survey, in 2022, approximately 55% of the respondents spent on the advanced social and for gaining a better return on investments. Also, these monitoring tools help the brands analyze the consumer's buying behavior which is expected to strengthen the market trends.

DRIVING FACTORS

Increasing Usage of Cloud-based Solutions to Augment Growth

The increasing development of cloud-based monitoring platforms, such as LexisNexis, Meltwater Cision Communications Cloud, and others, aids the market growth. The rising development and adoption of cloud-based monitoring platforms allows enterprises to monitor, track, and visualize the performance that drives the growth. For instance,

• In June 2020: Cision earned media services and software launched Cision media monitoring and print content based on the cloud. The platform was made available in more than 100 countries across more than 7 million sources globally, including Asia, Europe, Latin and Central America, Africa, the Caribbean, and the Middle East.


• In September 2021: PR Newswire launched the Cision Social Listening cloud-based media monitoring platform for Asia Pacific. Cision Social Listening platform named Cision Communications Cloud helps get the digital consumer's insights.

With such rising development and adoption of cloud-based monitoring platforms, the key players in the market drive the market growth during the forecast period. In addition to this, rising internet penetration, a surge in digital media platforms, and increasing online media generation drive the market growth.

RESTRAINING FACTORS

High Initial Deployment and Service Costs is Expected to Hinder the Market Growth

Monitoring tools integration and deployment cost are complex and expensive for small and medium-scale organizations. The amount of revenue and potential loss in the system integration process is likely to impede market expansion. Furthermore, increased data security and identity and information privacy attack issues are some of the major factors limiting the market growth.

SEGMENTATION

By Component Analysis

Rising Demand for the Advanced Software Solutions Drives the Market Growth

The scope includes software/platform and services based on the component. The software is expected to have the largest market share during the forecast period. The growth is primarily attributed to the rising demand for software solutions such as Google Alert, Hootsuite, and others. These software solutions analyze social, online, print and digital content to provide better consumers insights.

Further, services are expected to grow with significant CAGR owing to the surge in the adoption of several media monitoring services such as media cutting services, media intelligence, and others.

By Type Analysis

Social Media Monitoring Segment to Gain Traction led by Increasing Utilization of Internet

Based on the type, the scope consists of print media monitoring, broadcast media monitoring, online media monitoring, social media monitoring, and others. Broadcast media monitoring is expected to grow with the highest CAGR during the forecast period. The growth is attributed to a surge in the online video streaming platform users, rising video on demand subscribers with the rise in adoption of smart devices.

Online media monitoring is anticipated to showcase the highest CAGR owing to the increased adoption of social media platforms such as Instagram, Twitter, and Facebook among end-users.

By Deployment Analysis

Rising Adoption of Cloud-based Solutions around the Globe Drives Market Growth

The scope includes cloud and on-premises based on deployment. The cloud is expected to exhibit the highest CAGR during the forecast period. The rising adoption of SaaS and cloud-based monitoring platforms across several verticals such as media and entertainment, BFSI, and healthcare is expected to drive the segmental cloud growth.

The on-premise is anticipated to grow moderately due to the upgrade requirements, security regulations, and high initial setup cost.

By Enterprises Size Analysis

Large Enterprises to Grow Rapidly Owing to Investments in Advanced Technologies Such as AI, Cloud and ML

Small and medium businesses (SMEs) incorporate cost-effective tools across their operations and digital technologies like cloud and artificial intelligence (AI). As a result, the SME category is expected to increase rapidly in the future years.

A large enterprise is likely to capture most of the market share during the forecasted period. This segment's growth is owing to the investment in IT infrastructure, workforces, and the advent of emerging technologies.

By Application Analysis

Digital Marketing & Sales Management is Likely to Exhibit Significant Growth

Based on the application, the scope includes customer experience & PR management, digital marketing & sales management, real-time analytics, content management, and others. The digital marketing & sales management is expected to hold the largest market share as it is used to analyze the social media data and consumer behaviors.

Customer experience & PR management is expected to grow with the highest CAGR owing to the surge in demand by the e-commerce players to track the customers experience and feedback. The increasing demand from small and medium scale enterprises for customized and real-time content targeting the audience drives the global media monitoring tools market trends.

By Industry Analysis

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Trending E-commerce Websites and Social Media Platforms is Likely to Boost the Growth

The scope consists of healthcare, BFSI, retail & e-commerce, media and entertainment, IT & telecommunication, and others. Retail & e-commerce is anticipated to hold the largest global media monitoring tools market share during the forecast period. Increasing online shopping trends through the e-commerce websites by the consumers around the globe aids market growth. Several e-commerce players’ are adopting monitoring platforms for communicating with target audiences. Tracking and promoting real-time online content is likely to fuel the growth of market growth.

The media and entertainment are expected to grow with the highest CAGR during the forecast period owing to a surge in the adoption of digital platforms such as Facebook, Twitter, Instagram, and others. Rising healthcare spending by the several countries governments, and rising tracking tools across media and entertainment, are expected to propel the market growth during the forecast period.

REGIONAL INSIGHTS

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Based on region, the market share is broken down into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.

North America is anticipated to have the largest share in the global market during the predicted period. This is primarily attributed to the early adoption of advanced technologies-based software & services. Also, the region comprises several key players, such as Oracle Corporation, Hootsuite, Salesforce.com, Inc., and others is expected to boost the demand for media tracking tools. These key players are developing advanced social monitoring tools in order to meet growing organization’s demand. For instance,

• In March 2020, Hootsuite introduced "Hootsuite Insights" an advanced social listening tool - powered by Brandwatch. The tool tracks the brand’s requirements and consumer sentiment during the COVID-19 pandemic.

Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth is primarily owing to the rising demand for media tracking software tools such as Talkwalker, Synthesio, Brandwatch, Sysomos, and others.

The European market is anticipated to expand with a considerable growth rate owing to the presence of a large number of media monitoring software providers. For instance, Europe consists of several media and social monitoring tools providers such as brand24, Isentia, Mention Solutions SAS, etc.

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The Middle East and Africa (MEA) and South America are expected to grow with moderate CAGR during the forecast period. Increasing digital investment by governments to adopt advanced technologies such as machine learning (ML), cloud, and artificial intelligence aids the market growth.

KEY INDUSTRY PLAYERS:

Key Players are Developing Advanced Monitoring Tools for Strengthening the Market Growth  

Key players in the market such as Hootsuite, Oracle Corporation, Alphabet Inc., and others are some of the market players. These players are developing advanced technologies such as cloud-based, AI and ML-based monitoring tools. Also, the intense competition in the market is forcing players to focus on several strategies such as mergers, acquisitions, and partnerships to strengthen their positions. For instance,

• In October 2021- Hootsuite, a social media management company, partnered with user-generated content platform TINT to empower users to leverage employee-generated contents (EGC) with its Hootsuite Amplify. It provides an approach to boost the reach and brand awareness to find their needs on social platforms.

List of the Key Companies Profiled:

• Semantrum LLC (U.S.)


• Cision Ltd. (U.S.)


• Meltwater News US Inc. (U.S.)


• Critical Mention, Inc. (U.S.)


• Sprout Social, Inc. (U.S.)


• TVEyes Inc. (U.S.)


• Semrush Holdings, Inc. (U.S.) 


• Hootsuite Media Inc. (Canada)


• BurrellesLuce (U.S.)


• Mention (U.S.)


• BuzzSumo Ltd. (U.K.)


• Zoho Corporation Pvt. Ltd. (India)


• Onclusive, Inc. (U.S.)


• Oracle Corporation (United States)           

KEY INDUSTRY DEVELOPMENTS:

• January 2020: - Talkwalker introduced an advanced augmented and data visualization analytics tool called “Conversation Clusters.” This tool helps PR professionals gain consumer insights, visualize, and understand various social media conversations.


• July 2020: - Onclusive, Inc. launched a media monitoring software suite with additional products named "Essentials and Pro." This software suite is aimed at providing scalable, intelligent media monitoring that helps to communicate with teams and delivers real-time, dynamic measurement and reporting.

REPORT COVERAGE

An Infographic Representation of Media Monitoring Tools Market

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The global media monitoring tools market research report provides an in-depth analysis of the market. It focuses on key aspects such as leading companies, product types, and leading product applications. 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.

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