North America Media Monitoring Tools Market Outlook - Forecast Trends, Market Size, Share and Growth Analysis Report (2024-2032)

North America Media Monitoring Tools Market Growth

The media monitoring tools market is poised for exponential growth as businesses are actively leveraging them for measuring engagement, influencer identification, and keeping track of customer reviews and mentions. This helps them to stay ahead of the curve and strategise their business by incorporating metrics such as Share of Voice (SOV). The SOV metric calculates the proportion of online discussions related to a company in relation to the overall volume of online discussions.

Media monitoring tools also serve as social listening platforms, that have gained prominence in the market and provide real-time insights. For instance, Synthesio and Brandwatch have emerged as leaders in the market as they enable brands to listen and analyse online conversations across all platforms, devise data-driven strategies, facilitate ease of decision-making, and aid in crisis management, among others.

Amongst industry verticals, the retail and e-commerce segment accounts for the largest North America media monitoring tools market share, driven by the heavy reliance of these industries on online reputation management, customer engagement, and trend tracking. The media and entertainment segment is expected to grow as media monitoring tools enable tracking of mentions, sentiment analysis, and prompt response to discussions about brands and artists in this sector. Moreover, digital media is anticipated to overtake television in 2024, which necessitates the demand for monitoring tools.

Key Trends and Recent Developments

Rising influence of social media, the growing significance of brand management, the adoption of AI and machine learning technologies along with stringent regulatory compliances are accelerating the North America media monitoring tools market value.

October 2023

Stagwell Marketing Cloud's PRophet, the first and only generative and predictive AI SaaS platform built for PR professionals, revealed three new platform capabilities, PRophet Earn, Influence, and Monitor. PRophet Influence combined generative AI, data analytics, and monitoring technology to create personalized influencer marketing programs. PRophet Monitor introduced the ability to create personalized notification alerts across a diversity of media channels from within the PRophet platform and PRophet Earn generated, analysed and tested new content, from pitches to social posts, blogs and biographies, to predict earned media interest, reach and sentiment.

May 2023

Bloomberg Government, a leading provider of news, data, and analytics for public affairs professionals, announced the launch of its new, real-time social media monitoring and analysis tool to simplify and streamline the search of relevant policy issues across social platforms such as Twitter, Reddit, and YouTube it easier for customers.

April 2022

Boston-based Prowly, the public relations SaaS tool acquired by Semrush, broadened its scope of service with Media Monitoring by launching a new tool. The tool completed the PR workflow on Prowly, making it a fully automated tool for PR professionals. Moreover, it enabled PR professionals to conduct deep industry research, reveal pivotal consumer insights and collect intelligence on competitors virtually in real-time.

February 2021

Texas-based Refinitiv, a financial market data provider announced the launch of ESG Analytics, a new AI-based analytics tool providing numerical insights through monitoring of millions of sustainability news and social media posts. The new tool was created in partnership with natural language processing software developer MarketPsych and could be used by a wide range of users, including investors, corporate clients, industry peers, market regulators, analysts, researchers, and governments.

Rise of Social Media Content Propelling the Media Monitoring Tools Demand Growth

The rising influence of social media platforms has increased the demand for media monitoring tools in North America. These tools are being used to interpret vast volumes of user-generated content to track brand mentions, analyse public sentiments through online conversations, and provide real-time insights into customer feedback, thereby helping businesses build targeted strategies and take corrective actions to enhance brand reputation.

Growing Importance of Online Brand Management Fuelling Market Consumption

The increasing online presence of businesses has made brand reputation management more essential than ever, and media monitoring tools play a vital role in the same. They help track social posts, news articles, and online reviews of business products or services to enable early management of any crisis situation posing a threat to the brand image. With a growing digitisation trend and rising of e-commerce activities, the necessity for online brand management is expected to increase further in the coming years, thereby propelling the growth of the North America media monitoring tools market.

Adoption of AI and ML Enhancing Productivity of the Overall Market

The integration of AI and machine learning technologies is enhancing the productivity of media monitoring tools in North America, providing an increased ability to analyse vast amounts of data, efficiently identify media trends, and generate accurate predictive insights. Realising the immense possibilities of these technologies, key industry players are investing in their research and development eyeing future growth prospects in the media monitoring tools market. For instance, Cision, a leading global media monitoring service provider launched its flagship tool, CisionOne, in the US and other North American markets. The tool, powered by artificial intelligence (AI) provides quick media monitoring, insights generation and outreach services to help users make timely and accurate business decisions.

Regulatory Compliance is a Major Driver for the Growth of the Media Monitoring Tools Industry in North America

Media monitoring tools are increasingly being used in North America to comply with stringent regulatory requirements, particularly in industries like finance, healthcare, and pharmaceuticals. These tools track public discourses, news, and social media, helping companies stay aware of potential legal and compliance issues, thereby eliminating any risk of non-compliance before their escalation.

North America Media Monitoring Tools Industry Segmentation

“North America Media Monitoring Tools Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Component

• Software 
• Services

Market Breakup by Enterprise Size

• Small and Medium Enterprises 
• Large Enterprises

Market Breakup by Industry Vertical

• IT and Telecom 
• Hospitality 
• BFSI 
• Healthcare 
• Retail and E-Commerce 
• Media and Entertainment 
• Manufacturing

Market Breakup by Country

• United States
• Canada

North America Media Monitoring Tools Market Share

Media monitoring tools are deployed by small and medium enterprises as well as large enterprises such as Meta and Amazon to understand their target audience and gain actionable insights through sentiment analysis. For instance, Crowd Tangle by Meta is a highly popular tool for research as it enhances transparency and helps market researchers and journalists form credible reports. It provides real-time data analytics and social monitoring capabilities, making it an essential tool for understanding the information available on social media platforms.

Leading Companies in the North America Media Monitoring Tools Market

Market players are continuously developing new technologies to create an immersive and thrilling user experience.

• Brandwatch
• Meltwater NV
• Synthesio Group
• Hootsuite Inc.
• Talkwalker Inc.
• Onclusive Inc.
• Critical Mention Inc.
• Truescope Inc.
• Agility PR Solutions LLC
• Mention
• Others