Social Media Management Market Size - By Component (Solution, Service), Deployment Model (On-premises, Cloud), Organization Size (SMEs, Large Enterprises), Application, End-use, Growth Prospects, Regional Outlook & Global Forecast, 2024 – 2032

Social Media Management Market Size

Social Media Management Market size was valued at USD 19.1 billion in 2023 and is anticipated to grow at a CAGR of over 22.4% between 2024 and 2032, attributed to the growing emphasis on competitive intelligence at a global level. Competition at the global level is affecting the profit margins of various companies operating in this market.
 

Companies operating in the market are integrating customer data and competitive & demographic business information to outperform competitors in the market. Social media management helps companies to analyze unstructured social data to respond to market conditions, achieve operational profitability, and increase sales. Companies can understand patterns and consumer behavior through social media management, fueling the market growth.
 

Data privacy issues have affected social media platforms. These issues have resulted in the formulation of privacy laws and data protection laws & regulations. The regulations include the European General Data Protection Regulation (GDPR), which prevents businesses from processing, collecting, sharing, and storing data of EU customers without consent including IP addresses, web browser cookies, Facebook tracking pixels & social media photos. These laws and regulations worldwide are restraining the market.
 

Social Media Management Market Analysis

The solution segment is expected to surpass USD 60 billion by 2032, due to the benefits offered such as it can reach a large number of users and simplifies operating a social media campaign. The market solutions are referred to as tools, platforms & software for numerous industry verticals. These solutions retrieve data from social media channels to track consumer behavior toward a particular brand. The rising adoption of social media management by advertisers & marketers to analyze patterns for sales improvement and understand customer preferences is fueling the solution segment demand.
 

The social media management market size from cloud segment will record over 20% CAGR through 2032. The cloud-based deployment model allows the remote use of data from various data centers and servers that include networks, servers, storage, analytical tools, databases & software platforms for accessing and delivering services on the Internet. Furthermore, it is cost-efficient.
 

The social media management market size from retail & e-commerce is poised to expand at a CAGR of over 25% during the forecast period. Social media management in retail & e-commerce is the practice of using social media management solutions to promote an online sales platform or online store through brand awareness and create interest in services, products & sales.
 

Social media management is used in e-commerce in various ways, which include driving and promoting traffic in an e-commerce app or website, selling products directly through social media, engaging with prospects & customers directly on social media channels, providing pre- & post-sales services, and collecting information about the market & industry. This usage of social media management solutions helps the retail & e-commerce market to grow with the utilization of social media management.
 

The North America social media management market is estimated to observe 15% CAGR between 2024 and 2032. The region is inclined toward technological innovations that create opportunities for social media management service providers and vendors. It has a widespread social media consumer base, which characterizes the North American region. The high internet penetration and the usage of social media platforms have offered opportunities for enterprises to gather insights about their brand performance, thus increasing the use of social media management solutions.
 

Social Media Management Market Share

Major companies operating in the social media management industry include:

• Adobe
• Buffer
• Cision
• Digimind
• Eclincher
• Google
• Hootsuite
• Hubspot
• IBM
• Khoros
• Meltwater
• Oracle
• Qualtrics
• Salesforce
• Sensible
• Sprinkler
• Sprout Social
• Synthesio, Inc.
• Talkwater
• Zoho

Market players have adopted partnership, acquisition & business expansion strategies to expand their geographic footprint and improve their technological products. For instance, in January 2023, Sprout Social Inc. acquired Repustate, a natural language processing and innovative sentiment analysis company. Through this acquisition, Sprout Social Inc. will increase the breadth, power, and automation of social listening customer care & messaging capabilities with added natural language processing, sentiment analysis, and AI.
 

The social media management market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2023 to 2032 for the following segments:

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Market, By Component

• Solution
• Service

Market, By Deployment Model

• On-premises
• Cloud

Market, By Organization Size

• SMEs
• Large enterprises

Market, By Application

• Sales & marketing management
• Customer experience management
• Competitive intelligence
• Risk management & fraud detection
• Others

Market, By End-use

• BFSI
• Retail & e-commerce
• Government & public sector
• Healthcare & life science
• IT & telecom
• Media & entertainment
• Manufacturing
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • GCC
  • South Africa