Social Media Management Market
Global Industry Analysis and Forecast 2023-2030
Market Value (2022)
USD 16.54 Billion
Forecasted Value (2030)
USD 54.63 Billion
CAGR (2023 – 2030)
Fastest Growing Region (2023 - 2030)
Sales and Marketing Management, Customer Experience Management, Competitive Intelligence, Risk Management and Fraud Detection, Others
BFSI, Retail, Government, Healthcare, IT & Telecommunications, Media and Entertainment, Manufacturing, Travel and Hospitality, Others
The global Social Media Management Market was valued at USD 16.54 billion in 2022 and is projected to reach USD 54.63 billion by 2030, growing at a CAGR of 18.60% from 2023 to 2030.
The increasing number of social media platforms and the rising necessity for organizations to efficiently handle their social media presence are significant drivers fueling the demand for social media management solutions. Furthermore, the incorporation of cutting-edge technologies, including artificial intelligence, machine learning, and natural language processing, into social media management tools is anticipated to create notable growth prospects for the market in the near future. These factors indicate that businesses must embrace social media management solutions to stay ahead of the competition and capitalize on emerging opportunities.
Analyst’s Review on the Social Media Management Market
Social media management software is an all-in-one solution for managing social media accounts, scheduling posts, analyzing data, and monitoring trends. The software offers features that help businesses analyze data, track engagement, and identify industry trends. Some of the latest trends in social media management software include an increasing focus on video content, social commerce, brand authenticity, and crisis management. Additionally, businesses are expected to prioritize engagement with their social media community, with a focus on creating meaningful interactions and building relationships with followers. The social media management software market is expected to experience substantial growth in the coming years, driven by the need for businesses to leverage social media platforms to reach their target audience and drive revenue growth.
Social media management is the process of creating, scheduling, analyzing, and engaging with content posted on social media platforms, such as Facebook, Twitter, Instagram, and LinkedIn. It involves strategizing, creating, and publishing content, analyzing the performance of the content, and engaging with the audience.
Social media management is vital for any business, organization, or individual looking to increase their online presence and engage with their target audience. It helps businesses build brand awareness, increase website traffic, generate leads, and boost sales. Social media management can also be used for customer service, reputation management, and crisis management.
Industries that benefit greatly from social media management include e-commerce, hospitality, healthcare, and entertainment. E-commerce businesses use social media management to promote their products and services, while the providers in the industry are using the amenities and engage with potential customers. Healthcare providers use social media to provide valuable information and engage with patients, while the entertainment industry uses social media to promote movies, TV shows, and music.
Social media management is an essential aspect of any business or individual looking to increase their online presence and engage with their target audience. Social media management is used in various industries, including e-commerce, hospitality, healthcare, and entertainment, and involves staying up-to-date with the latest social media trends and algorithms.
The COVID-19 pandemic has accelerated the adoption of work-from-home and remote working policies, leading to a surge in the global social media market. Consequently, the demand for social media management solutions has increased significantly. Additionally, the rise in demand for easily accessible and shorter forms of entertainment and media is driving the growth of the social media management market. These trends indicate a significant opportunity for businesses to leverage social media management solutions for expanding their reach and engaging with their audience in a more effective manner.
The social media landscape has been impacted by data privacy concerns, leading to the introduction of privacy laws and data protection regulations. One example of this is the European General Data Protection Regulation (GDPR), which prohibits businesses from collecting, processing, sharing, and storing data of EU customers without their explicit consent, including sensitive information such as IP addresses, web browser cookies, Facebook tracking pixels, and social media photos. These regulations are negatively impacting the social media management market, as they restrict the ways in which businesses can use and analyze customer data. However, they are also essential for protecting the privacy and rights of consumers, and businesses must comply with these regulations to maintain consumer trust and avoid penalties. Notably, businesses operating in the social media management market must prioritize data privacy and security measures to ensure compliance with global regulations while still leveraging the power of social media to reach their target audience.
The global social media management market is segmented based on component, deployment, application, application, and geography.
Based on component, the market is bifurcated into solution and services. The solution segment held the largest market revenue in 2022. Several social media management solutions are available in the market, including Buffer, Hootsuite, Sprout Social, Zoho Social, HubSpot, and Agorapulse, among others. These solutions help businesses manage their social media presence more efficiently by providing a range of features, such as scheduling, publishing, monitoring, reporting, and analytics. These tools enable businesses to streamline their social media activities and engage with their audience in a more effective way. Additionally, social media management solutions allow businesses to track their performance and make data-driven decisions to improve their social media strategy.
Based on deployment, the social media management market is divided into on-premises and cloud-based. The cloud-based segment held the largest market share in 2022. The rise in demand for social media management solutions is closely linked to the increasing adoption of cloud-based solutions. With vendors using Software-as-a-Service (SaaS) to provide social media management tools, businesses are increasingly turning to cloud-based solutions to streamline their social media activities. Cloud adoption has witnessed a significant surge in recent years, with many businesses opting for cloud infrastructure on a pay-per-use scheme to save on the costs of acquiring, managing, and maintaining their own IT infrastructure. The trend towards cloud-based solutions is expected to continue, with key players in the media monitoring tools market planning to launch advanced social listening platforms using cloud-based solutions. Additionally, the integration of cloud-based technologies with social media management solutions is anticipated to provide new growth opportunities for the market in the future.
By application, the social media management market is divided into sales and marketing management, customer experience management, competitive intelligence, risk management and fraud detection, and others. The sales and marketing management segment accumulated the largest market share in 2022. This segment encompasses a wide range of activities that sales and marketing professionals must utilize to effectively engage with their target audience across various social media platforms. The increasing adoption of social media management in sales and marketing has the potential to significantly enhance marketing campaigns, drive sales, and create new opportunities for widening the target audience base. As a result, the sales & marketing management segment is expected to experience substantial growth in the coming years, driven by the need for businesses to leverage social media platforms to reach their target audience and drive revenue growth.
Based on region, the global social media management market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.
North America dominated the market in 2022 driven by its rapid adoption and the significant growth in the number of social media users. The region is expected to witness a surge in advertising expenditure on digital and social media platforms, with projected growth of 30 to 35% by 2025. Facebook and YouTube are the most widely used social media platforms globally, with expected user growth of more than 1.5 billion and 1 billion, respectively. These trends highlight the immense potential for businesses to leverage social media platforms to reach a broader audience and generate revenue growth. Businesses operating in North America must prioritize their social media management strategies to capitalize on the growing adoption of social media platforms in the region, which is also fostering the industry outlook.
The global social media management industry study will provide valuable insight with an emphasis on the fragmented nature of the global market. Prominent players are focusing on several key business strategies such as partnerships, mergers & acquisitions, product innovations, and joint ventures to expand their product portfolios and increase their market shares across different regions. Expansion & investments are the major strategic initiatives. Industry players are investing in R&D activities, building new manufacturing facilities, and supply chain optimization. The major players in the social media management market are
- Sprout Social, Inc.
- NetBase Quid, Inc.
- Sprinklr, Inc.
- Zoho Corporation Pvt. Ltd.
- Cision US Inc.
- September 2022 (Partnership): Khoros and Talkwalker entered into a strategic partnership to deliver an exceptional social media management, intelligence, and deep listening solution for brands. This collaboration was intended to empower brands with comprehensive tools that enable them to gain valuable insights and take decisive actions in response to market trends and changes in audience preferences.
- April 2022 (Partnership): Digimind, a prominent player in the field of Social Listening and Market Intelligence software, joined forces with Facelift, a leading provider of social media management tools, in a recently announced strategic partnership. Through this collaboration, the two companies agreed to offer a centralized platform for managing various social networks and monitoring the critical factors that influence brand reputation.
- November 2021 (Acquisition): Intuit completed the acquisition of Mailchimp to enable businesses to expand their product or service offerings, effectively manage customer relationships, online presence, leverage valuable insights and analytics, access capital, streamline payment processes, handle payroll, optimize cash flow, enhance organizational efficiency, and ensure compliance.
The global Social Media Management Market is segmented as:
- Sales and Marketing Management
- Customer Experience Management
- Competitive Intelligence
- Risk Management and Fraud Detection
- IT & Telecommunications
- Media and Entertainment
- Travel and Hospitality
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- North Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America