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The 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 at a CAGR of 16.5% during the 2022-2029 period.
Fortune Business Insights™ publishes this information in its report titled, "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, and Others), 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, and Others), By Industry (BFSI, Healthcare, Media & Entertainment, Retail & e-commerce, IT & Telecommunication, and Others), and Regional Forecast, 2022-2029".
COVID-19 Pandemic & Virtual Work Culture To Bolster Market Growth
During the pandemic period, all age groups extensively increased the use of social media platforms. This positively impacted demand for media monitoring tools and supported the companies in terms of productivity and profitability. The global market witnessed a growth rate of 5.7% in 2020 compared to 8.3% in 2019. The rising adoption of virtual work culture bolstered the global market growth during the pandemic period.
Cision Ltd. Partnered With TVEyes
Cision Ltd and TVEyes formed a partnership to introduce a podcast monitoring service in cloud communication technology. This partnership will eventually lead the companies to gain maximum customers from target regions and improve overall business performance. The podcast monitoring will help monitor the communication of brands, people, products, and competitors.
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Increasing Utilization of Cloud-based Solutions To Propel Growth
This market is expected to gain momentum during the forecast period due to the increasing utilization of cloud-based solutions in enterprises and technological solutions. Also, the increasing influence of digital technology and artificial intelligence is expected to drive the market in the coming years. These factors are expected to ensure global media monitoring tools market growth during the forecast period.
Partnerships Allow Key Players To Expand Their Business Reach
The key market players partner with the supporting organizations to expand their business reach. This allow companies to acquire global customers by expanding their production capacity and increasing profitability. Launching new products and improving the existing product range allow key players to embrace their product portfolio.
Notable Industry Development
List of Key Players Covered in Market Report:
Table of Segmentation
Value (USD Billion)
By Component, By Deployment, By Type, By Enterprise Size, By Application, By Industry, Region
By Enterprise Size