Media Monitoring Tools Market Share, Size, Trends, Industry Analysis Report, By Component (Software/Platform, Services); By Enterprise Size (Small & Medium Enterprise, Large Enterprise); By Industry; By Region; Segment Forecast, 2023 - 2032
- Published Date:Jun-2023
- Pages: 112
- Format: PDF
- Report ID: PM2316
- Base Year: 2022
- Historical Data: 2019-2021
The global media monitoring tools market was valued at USD 4418.29 million in 2022 and is expected to grow at a CAGR of 12.9% during the forecast period.The demand for real-time data analysis and insights across various industries is increasing. Media monitoring tools refer to software applications or platforms that track, analyze, and report on multiple media channels such as social media, news outlets, blogs, and forums. These tools help businesses and organizations stay informed about their brand reputation, competitors, industry trends, and customer sentiment.
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With the rise of social media and the growing importance of online and social media platforms, businesses recognize the need to monitor and manage their online presence effectively. Media monitoring tools market enable companies to track real-time mentions, comments, and discussions about their brand, products, or services. This allows them to respond promptly to customer feedback and manage potential crises.
Another factor fueling the market growth is the increasing focus on data-driven decision-making. Media monitoring tools provide businesses with valuable insights and analytics on media coverage, audience demographics, sentiment analysis, and market trends. This data helps companies make informed decisions, develop effective marketing strategies, and improve their brand perception.
Furthermore, the rising adoption of artificial intelligence (AI) and machine learning (ML) technologies has significantly enhanced the capabilities of media monitoring tools. AI-powered tools can process vast amounts of data, identify patterns, and extract relevant information more efficiently. These advancements enable businesses to automate their media monitoring processes, save time and resources, and obtain real-time actionable insights.
The COVID-19 pandemic profoundly impacted the media monitoring tools market, presenting challenges and opportunities. The surge in online and social media activity during the crisis underscored the importance of these tools for businesses to track and analyze sentiment, trends, and public perception. They played a vital role in crisis and reputation management, allowing organizations to stay updated on pandemic-related news, respond promptly to emerging issues, and monitor public sentiment. Media monitoring tools also facilitated the identification of shifting consumer behavior and helped businesses adjust their marketing strategies accordingly. Moreover, these tools helped filter through vast amounts of information in a crisis, ensuring businesses relied on credible sources and mitigated the risk of misinformation.
The market is experiencing growth and adoption across industries due to the increasing importance of online presence has driven the demand for these tools. With the proliferation of digital platforms and social media, businesses understand the need to monitor and manage their online reputation effectively. Media monitoring tools enable companies to track real-time mentions, comments, and discussions about their brand, products, or services, empowering them to engage with their audience and comprehend their online perception.
The demand for real-time data and insights is crucial in today's fast-paced business environment. Media monitoring tools provide businesses with up-to-date information and insights on media coverage, customer sentiment, industry trends, and competitor activities. This real-time data aids in informed decision-making, effective marketing strategies, and maintaining a competitive edge in the market.
Data-driven decision-making has become integral to modern business operations. Media monitoring tools offer valuable analytics and metrics, such as audience demographics, sentiment analysis, and reach, allowing businesses to gain insights into their target market. These insights enable companies to improve decision-making processes and develop strategies aligned with customer preferences.
Media monitoring tools play a vital role in crisis and reputation management. Safeguarding brand reputation and managing potential crises are essential for businesses. Media monitoring tools assist organizations in monitoring negative sentiment, tracking public perception, and promptly addressing emerging issues. Companies can protect their brand image and maintain customer trust by staying well-informed about conversations and news coverage.
Furthermore, technological advancements, particularly in artificial intelligence (AI) and machine learning (ML), have significantly enhanced the capabilities of media monitoring tools. AI-powered tools efficiently process large volumes of data, identify patterns, and extract relevant information. These advancements enable businesses to automate their monitoring processes and gain valuable insights more quickly and accurately.
The market is primarily segmented based on component, enterprise size, industry, and region.
By Enterprise Size
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Software/platform segment accounted to dominate the market during the forecast period
The software/platform segment is expected to dominate the market during the forecast period, capturing the largest market share. This growth can be attributed to the increasing demand for software solutions like Google Alert, Hootsuite, and others. These popular software solutions are vital in analyzing social media, online content, print media, and digital sources to provide valuable consumer insights. The ability of these software solutions to gather and analyze data from various media channels contributes to their effectiveness in delivering actionable intelligence to businesses. As a result, organizations are increasingly adopting these software tools to stay updated with the latest trends, monitor their brand reputation, and make informed business decisions.
Large enterprise segment held the significant market revenue share
The large enterprise segment dominates the market and holds the largest market share. This is primarily due to the significant requirement of large enterprises to monitor and analyze vast amounts of data and news articles from various media sources. These enterprises need sophisticated tools that can handle large-scale data processing and provide comprehensive insights for strategic decision-making.
The small and medium-sized enterprises (SMEs) segment is expected to exhibit the highest growth rate during the forecast period. SMEs increasingly recognize the importance of media monitoring in gaining market intelligence, understanding customer sentiments, and staying competitive. As a result, there is a growing demand for efficient management tools tailored to the needs of small businesses, which can streamline their operations and provide valuable insights at a more affordable cost.
E-commerce segment is projected to hold largest market share during forecast period
The E-commerce segment emerged as the dominant player in the market, holding the largest market share. This segment is expected to maintain its leadership position in the coming years. The significant percentage of the E-commerce segment can be attributed to its increasing reliance on social intelligence to engage with the target audience effectively. By leveraging social intelligence, E-commerce businesses can promote their products and services while monitoring real-time online content, thus enhancing customer engagement and driving sales. The growing deployment of monitoring tools specifically tailored for the E-commerce sector allows businesses to analyze their target audience and gain insights into consumer purchasing trends, further fueling the growth of this segment.
The healthcare segment is projected to witness the highest CAGR during the forecasting years. This growth is driven by increased healthcare investments by government bodies across nations and the rising adoption of healthcare monitoring tools and analytics. The healthcare sector is increasingly deploying monitoring tools to track and analyze patient data, improve operational efficiency, and enhance patient care. Additionally, the growing adoption of remote health monitoring systems presents significant growth opportunities for the healthcare segment. These systems enable healthcare providers to monitor patients' health conditions remotely, offer personalized care, and enhance overall healthcare outcomes.
North America dominated the global market in 2022
North America held the largest shares and dominated the market. This can be attributed to key market players like Oracle Corporation, Alphabet Inc., Salesforce.com, and HootSuite, among others, in the United States and Canada. These companies are actively introducing new monitoring tools and expanding their product offerings, driving the market's growth in the region.
The Asia Pacific market is expected to exhibit the highest CAGR over the forecast period. The region is witnessing a rising demand for media tracking tools such as Talkwalker, Brandwatch, Synthesio, and others, particularly among small and medium enterprises (SMEs). SMEs' adoption of these tools in the Asia Pacific region is driving market growth. Additionally, many startups offering media monitoring tools present substantial market growth opportunities.
Some of the major players operating in the global market include Agility PR Solutions LLC, Buzzcapture B.V., Khoros LLC, Mentionlytics, Lucidya, Sprinklr, Inc., Canva, NUVI., Alphabet Inc. (Google LLC), Ubermetrics Technologies GmbH, Hootsuite Inc., Sysomos Inc., Talkwalker, Critical Mention, Inc., Salesforce.com, TVEyes Inc., Social Media Research Foundation, Meltwater, Snap Trends, Inc., LexisNexis, Buffer, BurrellesLuce, BoomSonar, SemanticForce Inc., YouScan, Cision Ltd., Coosto BV, CyberAlert LLC, Amagi Corporation, M-Brain, and Buzzlogix.
- In March 2022, Brandwatch acquired Paladin. This strategic move expanded Brandwatch's capabilities in the realm of influencer marketing, enabling the company to offer a more comprehensive range of services. This acquisition strengthens Brandwatch's position in the market and enhances its ability to cater to the evolving needs of brands in the digital landscape.
- In April 2022, Facelift collaborated with Digimind to offer an enhanced solution for monitoring brand image and efficiently managing social networks. This collaboration proved mutually beneficial for both industries, enabling them to leverage their expertise and deliver comprehensive capabilities for businesses to thrive in the dynamic world of social media.
Media Monitoring Tools Market Report Scope
Market size value in 2023
USD 4762.92 million
Revenue forecast in 2032
USD 14221.06 million
12.9% from 2023 – 2032
2019 – 2021
2023 – 2032
Revenue in USD million and CAGR from 2023 to 2032
By Component, By Enterprise Size, By Industry, By Region
North America, Europe, Asia Pacific, Latin America; Middle East & Africa
Agility PR Solutions LLC, Buzzcapture B.V., Khoros LLC, Mentionlytics, Lucidya, Sprinklr, Inc., Canva, NUVI., Alphabet Inc. (Google LLC), Ubermetrics Technologies GmbH, Hootsuite Inc., Sysomos Inc., Talkwalker, Critical Mention, Inc., Salesforce.com, TVEyes Inc., Social Media Research Foundation, Meltwater, Snap Trends, Inc., LexisNexis, Buffer, BurrellesLuce, BoomSonar, SemanticForce Inc., YouScan, Cision Ltd., Coosto BV, CyberAlert LLC, Amagi Corporation, M-Brain, and Buzzlogix.
The global media monitoring tools market size is expected to reach USD 14221.06 million by 2032.
Top market players in the Media Monitoring Tools Market are Agility PR Solutions LLC, Buzzcapture B.V., Khoros LLC, Mentionlytics, Lucidya, Sprinklr, Inc., Canva, NUVI., Alphabet Inc. (Google LLC), Ubermetrics Technologies GmbH.
North America contribute notably towards the global Media Monitoring Tools Market.
The global media monitoring tools market expected to grow at a CAGR of 12.9% during the forecast period.
The Media Monitoring Tools Market report covering key segments are component, enterprise size, industry, and region.