Global Media Monitoring Tools Market Report and Forecast 2024-2032

Global Media Monitoring Tools Market Outlook

The global media monitoring tools market size attained a value of approximately USD 4.71 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 14.10%, reaching a value of around USD 15.29 billion by 2032.

Technological advancements and reduced costs of media monitoring tools are surging their demand across various end-users, driving the media monitoring tools market growth. Advanced technologies such as artificial intelligence, machine learning, and automation are increasingly being incorporated into media monitoring tools, enhancing accuracy, effectiveness, and management of large volumes of data. Media monitoring tools give businesses the ability to streamline brand mentions, search criteria on a single platform, and obtain actionable insights that aid in developing a strategic business plan. The market growth of media monitoring tools is also anticipated to be fuelled by expanding use of observation tools across numerous industries. As more users engage with various forms of media, more companies are investing in media monitoring tools.

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Increased Demand in the Retail and E-commerce Sector to Augment the Media Monitoring Tools Market

Based on industry, the retail and e-commerce segment is estimated to possess a healthy share in the market for media monitoring tools. This growth can be attributed to the heightened deployment of media monitoring tools in the sector to understand consumer purchasing trends and analyse the target audience while also accentuating the brand image.

Meanwhile, the healthcare segment is also projected to witness an increased demand for media monitoring tools, owing to the rising adoption of remote health monitoring facilities and growing investments in the healthcare sector. These factors are predicted to contribute to the overall market growth of media monitoring tools in the forecast period.

Global Media Monitoring Tools Market Share by Region

North America is anticipated to witness significant growth in the market for media monitoring tools in the forecast period. This growth can be attributed to the presence of the leading market players in the region, such as BurrellesLuce and Cision Ltd., among others, who are increasingly investing in the development of media management and monitoring tools to improve their product portfolios. These factors are estimated to positively impact the market growth in the region.

Media Monitoring Tools Market Segmentation

Media monitoring refers to the process of scanning all publicly available information, for instance, on broadcast and print media platforms, to locate particular information, usually specific keywords. Media monitoring tools help in tracking and analysing essential information and data across media platforms, especially online media platforms that have witnesses considerable expansion and prominence.

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By component, the market is bifurcated into:

• Software 

• Services

On the basis of enterprise size, the market is divided into:

• SMEs

• Large Enterprises

Based on market, the market is segmented into:

• IT and Telecom

• Hospitality

• BFSI

• Healthcare

• Retail and E-commerce

• Media and Entertainment

• Manufacturing

The regional markets for media monitoring tools include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Rising Adoption of Social Media to Increase the Global Media Monitoring Tools Market Demand

Social media platforms have gained increasing prominence over the years with a ubiquitous presence, as more and more companies establish their social media presence in an endeavour to expand their communication channels for better audience engagement. This is projected to propel the demand for social media monitoring tools, thus, aiding the market growth for media monitoring tools.

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One of the key trends increasing the demand for the market for media monitoring tools is the heightened accessibility to internet facilities among the masses, which is fuelled by the increasing penetration of digital devices such as smartphones. This is encouraging various companies to invest in media monitoring mechanisms to get an understanding of their audience by tracking brand mentions while developing efficient business strategies. These tools are also useful in garnering competitive insights, gauging brand awareness, product launch announcements, and addressing customer queries, among others.

Key Players in the Global Media Monitoring Tools Market

The report gives a detailed analysis of the following key players in the global media monitoring tools market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Agility PR Solutions LLC

• BoomSonar

• BurrellesLuce

• Buzzcapture B.V.

• Cision Ltd.

• Coosto BV

• Critical Mention, Inc.

• CyberAlert LLC (Glean.info)

• Hootsuite Inc.

• Meltwater NV

• TVEyes Inc. 

• YouScan Limited

• Ubermetrics Technologies GmbH

• Talkwalker Inc.

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model and SWOT analysis.

Key Highlights of the Report