New York, USA, May 29, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), “Social Media Listening Market Information Deployment Mode, By Organization Size, And By Region – Market Forecast Till 2030”, the social media Listening Market could thrive at a rate of 11.1% between 2022 and 2030. The market size will be reaching around USD 35.13 Billion by the end of the year 2030.
Market Synopsis:
Social media listening refers to collecting data from mainstream social media platforms like Twitter, Facebook, and Instagram and examining it to gain insights into customer sentiment and behavior. This data is used to build customer relationships, measure customer satisfaction and inform overarching business strategies. Over the years, organizations have realized the vast potential of social media listening, and the need for dedicated and specialized tools has increased. This has created a huge market demand, pushing the growth of the social media listening market.
The applications of Social Media Listening are vast and diverse. It is primarily used by HR departments to manage employee data, administer payroll and benefits, and automate compliance processes. It also allows HR managers to analyze employee data, track performance metrics, and identify areas of improvement. Additionally, the software can help organizations in talent management, succession planning, and workforce planning.
Get a Free Sample PDF Brochure -
https://www.marketresearchfuture.com/sample_request/11669
Market Competitive Landscape:
The affluent companies in the social media Listening industry include:
- Salesforce
- Oracle
- SAS Institute
- Hootsuite
- Brandwatch
- Clarabridge
- Talkwalker
- International Business Machines Corporation
- Meltwater
- Crimson Hexagon
- MarketMuse
- Digimind
- Adobe Systems
Latest Industry Updates:
The growing popularity of AI-powered social media monitoring tools is a key trend boosting the market size. The trend of leveraging artificial intelligence (AI) capability to analyze customer data is gaining traction in the market. Companies are deploying AI-powered tools to automate time-consuming processes, such as data collection, analysis, and report generation, to gain in-depth insights into customer behavior.
Moreover, the growing preference for cloud-based solutions among a large number of end-users creates significant social media listening market opportunities. Cloud solutions offer several advantages over traditional solutions, such as greater flexibility and scalability, improved security, and cost and time efficiency. Organizations are increasingly moving towards cloud-based solutions to gain insights into customer preferences.
The high adoption of social media listening in emerging markets influences market shares phenomenally. Emerging geographies, such as Asia-Pacific and Latin America, are witnessing rapid adoption of social media and related technologies due to the high penetration of smartphones in these markets. This has resulted in increased demand for social media listening solutions from companies in these markets, thus boosting growth in the social media listening market.
Browse In-depth Market Research Report on Social Media Listening Market -
https://www.marketresearchfuture.com/reports/social-media-listening-market-11669
Market Restraints:
The highly competitive social media listening market appears fragmented due to the strong presence of key players holding substantial market shares. Well-established players incorporate strategic approaches, such as acquisitions, collaborations, partnerships, expansions, and product & technology launches, to gain a larger market share.
Leading social media intelligence providers look for acquiring leaders in customer experience management solutions and cloud-based CRM to expand their offerings and reach a larger customer base, thus strengthening their competitive position in the global market. These strategies help them develop new social media listening solutions and gain a competitive advantage in the market.
For instance, on May 01, 2023, Bloomberg Government (BGOV), a leading news, data, and analytics provider for public affairs professionals, launched its new, real-time social media monitoring and analysis feature. In addition to enhancing BGOV's trusted news and alerts, the new social media monitoring feature makes it easier for customers to address relevant policy issues across social platforms such as Reddit, Twitter, and YouTube.
In another instance, on Sept. 27, 2022, Khoros, a leader in digital-first customer engagement software & services, and Talkwalker, a leading consumer intelligence & deep listening company, announced their partnership to provide world-class social media management, intelligence, and deep listening experience. A new unified experience combines the deepest intelligence of the Khoros & Talkwalker platforms to deliver seamless social media management and listening.
Market Segmentation:
- By solution - sub-segmented into text analytics, sentiment, influencer identity & relationships, media intelligence, network & trends analysis tools, and others. Of these, the text analytics segment holds a major market share, with its ability to process large volumes of data and derive useful insights.
- By application - sub-segmented into market research, customer experience management, competitive intelligence, brand monitoring & governance, and others. Of these, the customer experience management segment accounts for a key market share, with the growing importance of exploring customers' expectations and delivering superior services.
- By End-User - sub-segmented into BFSI, government & public agencies, retail & consumer goods, healthcare, IT & telecom, media & entertainment, and other sectors. Of these, the IT and telecom sector dominates the market, witnessing the high adoption of social media in this sector.
Regional Insights:
North America dominates the global social media listening market due to the strong presence of well-established social media solutions providers. The US is the largest social media listening market, witnessing the industry due to the presence of several major players, such as Oracle, Salesforce, and SAS Institute.
The Asia-Pacific social media listening market perceives rapid revenue growth due to the high adoption of social media-based solutions in this region. The presence of a vast user base, an increase in disposable income, and rising penetration of smartphones support the social media listening market growth.
Related Reports:
- Social Media Analytics Market - Social Media Analytics Market size is expected to reach USD 30.96 billion by 2030 | at a CAGR of 18.3%
- AI in Social Media Market - AI in Social Media Market size exceeded USD 5.32 Billion in 2030 and is projected to expand at over 28.70% CAGR from 2020 to 2027.
- Social Media Security Market - The Social Media Security Market is expected to generate a market value of USD 3863.45 Million by 2030 growing at a CAGR of 16.40%.
Browse through more Information And Communications Technology Research Reports.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact Us:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
Follow Us: LinkedIn | Twitter
