Global Social Media Management Market Report and Forecast 2024-2032

Global Social Media Management Market Outlook

The global social media management market size reached approximately USD 21.28 billion in 2023. The market is further estimated to grow at a CAGR of 22.1% in the forecast period of 2024-2032, reaching a value of around USD 128.13 billion by 2032.

Key Trends in the Market

Social media management is the process of managing and monitoring the social media profile of a company or an individual. It includes tactics such as content and marketing strategies, creating and publishing content, monitoring social media performance, and engagement with the target audience, among others.

• The bolstering popularity of video content such as YouTube shorts, Instagram reels, and TikTok videos due to its engaging quality is one of the crucial social media management market trends. Several end-use sectors are utilising social media management tools for creating, scheduling, publishing, and analysing short-term video content.

• The robust growth of social commerce has pushed market players towards integrating e-commerce features into management tools, with several companies leveraging social media for sales of their products and services.

• The trend of personalisation is gaining traction among customers which fuels the usage of social media tools for studying target audiences, curating content, and advanced targeting and retargeting strategy.

• Incorporation of artificial intelligence (AI) into social media management platforms for text and video content creation, ad management, and brand awareness, among others, also provides impetus to the social media management market growth.

Market Analysis

Based on the component, the market is bifurcated into solutions and service. On the basis of enterprise size, the market is divided into large enterprises and small and medium enterprises. Based on mode of deployment, the market is categorised into cloud and on-premises.

The social media management market segmentation, on the basis of application, includes sales and marketing management, customer experience management, competitive intelligence, and risk management and fraud detection, among others.

Based on end use, the market is classified into IT and telecom, media and entertainment, BFSI, retail and e-commerce, government and public sector, and healthcare and life science, among others. The regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the social media management market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Salesforce, Inc. 

• Hootsuite Inc.  

• Sprout Social, Inc.  

• IBM Corporation  

• Meltwater News US Inc.  

• Zoho Corporation Pvt. Ltd.  

• Talkwalker S.à.r.l.  

• Khoros, LLC  

• Maventus Group Inc.  

• Brandwatch  

• Others

Market Share by End Use

The retail and e-commerce sector occupies a sizeable portion of the social media management market share owing to the growing usage of social media platforms for brand awareness and interaction. Several brands are leveraging social media as a digital marketing tool for advertisements that can redirect the customer to the brand’s website through CTA (call to action). Moreover, social media management tools aid retail companies in studying the customer preferences and interactions and establishing marketing strategies for engaging with potential customers.

Market Share by Region

As per the social media management market analysis, North America accounts for a substantial share of the global market due to the large social media consumer base coupled with technological advancements in the region. The surge in the adoption of social media by companies for digital advertising and increasing their overall revenue provides lucrative market prospects. Additionally, superior internet connectivity, the presence of a tech-savvy population, and the integration of social media as an effective marketing tool by enterprises provide a positive outlook.

Competitive Landscape

Salesforce, Inc., established in 1999, is a major producer of cloud-based software, with its headquarters in California, the United States. Its product portfolio includes sales cloud, service cloud, marketing cloud, MuleSoft, and customer 360, among others.

Hootsuite Inc. is a social media management platform, incorporated in 2008 and based in Vancouver, Canada.  It aids the user in scheduling and publishing content, monitoring the trends, and keeping up with the competitors, among others.

Sprout Social, Inc., founded in 2010, is a social media software company, which is headquartered in Chicago, the United States. It offers comprehensive solutions for publishing, influencer marketing, and AI-powered business intelligence, among others.

Other players operating in the social media management market include IBM Corporation, Meltwater News US Inc., Zoho Corporation Pvt. Ltd., Talkwalker S.à.r.l., Khoros, LLC, Maventus Group Inc., and Brandwatch, among others.

Key Highlights of the Report