Media Monitoring Tools Market Size - By Media Type (Print, Broadcast, Online, Social-Media), By Deployment Model (Cloud, On-Premises), By Enterprise Size (SMEs, Large Enterprises), By Component (Software, Service), Industry Vertical & Forecast, 2023 – 2032

Media Monitoring Tools Market Size

Media Monitoring Tools Market size was valued at USD 3.5 billion in 2022 and is projected to register a CAGR of 14% between 2023 and 2032. With the proliferation of online platforms and social media, individuals and organizations are keen to monitor their online reputation and track mentions, discussions, and sentiments across various digital channels.
 

For instance, Google Alerts is a free tool that allows users to set up alerts for specific keywords or phrases and sends email notifications when these keywords are mentioned online. Similarly, Mention is a paid tool that offers more features than Google Alerts, such as the ability to track mentions across multiple social media platforms, forums, and blogs. It also provides sentiment analysis, so you can see how people are feeling about a brand.
 

Companies are realizing the importance of maintaining a positive brand image. Media monitoring tools help them track mentions, assess sentiment, and respond promptly to both positive and negative discussions. Citing an instance, Starbucks used media monitoring tools to track mentions of its brand on social media after it closed its stores in 8,000 cities in the US for racial bias training in June 2020. The company used the data to identify and address negative sentiment and to amplify positive stories about its commitment to racial equity.
 

However, determining sentiment accurately from text and understanding the context in which content is mentioned can be complex for automated tools. Misinterpretations can lead to inaccurate insights and decisions, making it crucial for these tools to continuously improve their natural language processing capabilities, impacting their adoption rate. Besides, increasing concerns over data privacy and regulations such as GDPR and CCPA have put pressure on media monitoring tools to ensure that the data they collect and analyze is done so in a compliant manner. Stricter regulations can impact the scope and depth of data collection, affecting the capabilities of these tools.
 

COVID-19 Impact

The COVID-19 pandemic had a significant impact on the media monitoring tools market. As the world shifted to remote work and digital communication surged, organizations sought effective ways to monitor their online presence and adapt to rapidly changing public sentiments. Instances include healthcare institutions monitoring news and social media for COVID-19 updates and businesses tracking customer sentiment during the crisis. Despite challenges like misinformation overload, the pandemic highlighted the crucial role of media monitoring tools in managing brand reputation, crisis communication, and strategic decision-making in an increasingly digital landscape.
 

Media Monitoring Tools Market Trends

Media monitoring tools provide data that supports data-driven decision-making in marketing, PR, and business strategies, helping organizations allocate resources effectively. Public relations professionals use these tools to measure the impact of their PR efforts, track media coverage, and assess the reach and effectiveness of their campaigns.
 

For example, the Coca-Cola Company used media monitoring tools to track mentions of its brand on social media in the lead-up to the release of its new campaign, "Real Magic", in February 2023. The company used the data to identify and target potential viewers with market campaigns. The campaign was a success, generating positive buzz for the company and its products.
 

Media Monitoring Tools Market Analysis

The large enterprise segment held over 65% of the media monitoring tools market share in 2022, due to the pivotal role of media monitoring tools in brand management, market intelligence, and stakeholder engagement. In an era of information overload, these tools sift through vast volumes of data to provide actionable insights on consumer sentiment, competitor activities, and industry trends. Large enterprises rely on accurate data-driven decision-making, crisis mitigation, and effective communication strategies, making media monitoring tools an essential asset for maintaining a competitive edge and ensuring their brand's resonance in the digital landscape.
 

The retail & e-commerce segment accounted for 25% of the media monitoring tools market share in 2022, owing to the heavy reliance of the retail and e-commerce industries on online reputation management, customer engagement, and trend tracking. With consumers increasingly turning to digital channels for shopping and reviews, these tools help retailers monitor online conversations, reviews, and social media mentions. Tracking customer sentiment, identifying emerging trends, and managing crises are vital in a competitive market. Media monitoring tools empower the retail sector to enhance customer experiences, adapt strategies, and maintain a positive online image.
 

North America media monitoring tools market was over 36% of revenue share in 2022, attributed to the region's tech-savvy culture, widespread digital adoption, and the need for effective online presence management. As businesses strive to understand consumer preferences and market trends, these tools offer real-time insights from diverse digital sources. With the prevalence of social media, online reviews, and news articles, organizations in North America recognize the value of media monitoring tools in refining marketing strategies, engaging with customers, and maintaining a brand reputation in the dynamic digital landscape.
 

Media Monitoring Tools Market Share

Major companies operating in the media monitoring tools market are :

• Cision AB
•  Meltwater
• Isentia
• Talkwalker
• Brandwatch
• Sprinklr
• LexisNexis Newsdesk
• Critical Mention.

These companies are majorly focus on launching new media monitoring tools solutions for different industry verticals.
 

Media Monitoring Tools Industry News

• In April 2023, Talkwalker partnered with Google Cloud. This partnership will allow Talkwalker to leverage Google Cloud's artificial intelligence and machine learning capabilities to improve its media monitoring platform. 
   

This media monitoring tools market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:

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Market, By Media Type

• Print Media Monitoring
• Broadcast Media Monitoring
• Online Media Monitoring
• Social Media Monitoring

Market, By Deployment Model

• On-Premise
• Cloud

Market, By Enterprise Size

• SMEs
• Large enterprises

Market, By Component

• Software
• Service

Market, By Industry Vertical

• BFSI
• Entertainment and Media
• Healthcare
• IT & Telecom
• Retail & E-commerce
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • South Africa
  • UAE
  • Saudi Arabia