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The global media monitoring tools market size is projected to reach USD 7.25 billion in 2028 owing to the increasing utilization of Artificial Intelligence (AI) for the development of monitoring tools, observes Fortune Business Insights™ in its report, titled, “Media Monitoring Tools Market Size, Share & COVID-19 Impact Analysis, By Component (Software/Platform, Services), By Type (Print Media Monitoring, Broadcast Media Monitoring, Online Media Monitoring, Social Media Monitoring, Others), By Deployment (Cloud, On-premises), By Enterprise Size (Small and Large Enterprise (SMEs), Large Enterprises), By Application (Customer Experience & PR Management, Real-Time Analytics, Content Management, Digital Marketing & Sales Management, Others), By Industry (BFSI, Healthcare, Media and Entertainment, Retail & e-commerce, IT & Telecommunication, Others), and Regional Forecast, 2021-2028.” As per the analysis, the market value stood at USD 2.74 billion in 2020 and is expected to register a CAGR of 13.2% from 2021 to 2028.
Onclusive Introduces Essentials and Pro to Enhance Monitoring Capabilities
In July 2020, Onclusive, an industry-leading expert in data science headquartered in the U.S. launched essentials and pro, two newly developed media monitoring software suites. The new products are capable of providing smart monitoring functionalities to the company’s communications team. This enables the monitoring system to offer real-time dynamic measurement and reporting services. The new addition to Onclusive’s product line will help the company expand its client base to a significant level.
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Enhancing Functionalities of Monitoring Systems with AI will Augment Growth
The integration of latest technologies substantially enhances the functionalities of media monitoring systems. Prominent enterprises are leveraging artificial intelligence technology to develop highly capable social media solutions for small and large enterprises. For instance, in February 2020, Signal Media Ltd., a leading application software developer in the U.K., introduced AIQ, an AI-powered media intelligence platform. The new platform will help the company improve its monitoring strategies. Such trends are anticipated to drive media monitoring tools market growth. In addition, the rapidly expanding user base of social media worldwide is predicted to further enhance the demand for media monitoring tools.
Key Players are Providing Affordable Solutions to Help Small Businesses
Key players operating in the global market for media monitoring tools are focusing on developing affordable enterprise-level solutions. This will aid them to acquire a large customer base. For instance, in March 2021, SOCIALHOSE.IO, a leading enterprise media monitoring provider based in the U.S., introduced enterprise social listening tools for small and medium enterprises. The company is aiming to enable smaller businesses to adopt analytical solutions offering them affordable listening tools.
List of Key Players Covered in the Global Market:
Further Report Findings:
Table of Segmentation
2017 – 2028
2021 – 2028
2017 – 2019
Value (USD Billion)
By Enterprises Size