Media Monitoring Tools Market Expected to Grow as Companies Prioritize Online Presence - 2031

The global media monitoring tools market is expected to rise during the forecast period due to the increasing usage of cloud-based solutions among enterprises.

PORTLAND, PORTLAND, OR, UNITED STATE, April 30, 2024 /EINPresswire.com/ -- According to the report, the media monitoring tools market size was valued at USD 3.39 billion in 2021. The market size is expected to rise from USD 3.96 billion in 2022 to USD 11.54 billion by 2029 at a CAGR of 16.5% during the forecast period. The global media monitoring tools market is expected to rise during the forecast period due to the increasing usage of cloud-based solutions among enterprises. Fortune Business Insights™ publishes this information in a report titled, "Media Monitoring Tools Market Forecast, 2022-2029.

Media monitoring is a tool to measure communication and marketing strategies, track target audiences, and glean the sentiment around a brand. It allows users to track mentions of brands, products, and services across all media outlets, including traditional print and broadcast, online and social. This includes both text and imagery, the latter can have as much impact as the former. A comprehensive media monitoring tool can trawl for any content relevant to a user, its company, industry, and competition.

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Furthermore, surge in usage of cloud-based solutions and the need for effective competitor analysis (industry trend monitoring) boosts the growth of the global media monitoring tools market size. In addition, the need for efficient crisis management tools in media monitoring tools market share positively impacts the growth of the market. However, high initial deployment, service costs, and data privacy concerns hamper the media monitoring tools market growth. On the contrary, advancements in the field of AI and machine learning (providing more capable monitoring tools) are expected to offer remunerative opportunities for the expansion of the media monitoring tools market during the forecast period.

The key players profiled in the Media Monitoring Tools Market Analysis are Agility PR Solutions LLC, BoomSonar Suite, Burrelles, Buzzcapture, Cision US Inc., Coosto, Critical Mention, Inc., Glean.info, Hootsuite Inc., Lucidya, M-Brain, Meltwater, SemanticForce, Snap Inc., The Social Media Research Foundation, Sprinklr, Inc., Talkwalker Inc., TVEyes Inc., Ubermetrics Technologies GmbH, and YouScan. These players have adopted various strategies to increase their market penetration and strengthen their position in the media monitoring tools industry.

The report focuses on growth prospects, restraints, and trends of the global database management system market analysis. The study provides Porter’s five forces analysis to understand impact of various factors, such as the bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the global database management system market share.

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The outbreak of COVID-19 pandemic has positively impacted the media monitoring tools market growth during the pandemic period. Increasing utilization of digital solutions and rising interest in social media platforms led to market growth. Also, the global market grew by 5.7% in 2020 compared to 8.3% in 2019. The remote work culture adopted by the companies during the pandemic bolstered market growth, due to which the market witnessed revenue growth of 2.89 billion in 2020.

Depending on the deployment model, the on-premise segment holds the largest share of the media monitoring tools market. This is attributed to the custom monitoring needs of various businesses operating in a variety of business sectors. However, the cloud segment is expected to grow at the highest rate during the forecast period, due to its easier deployability and higher scalability, which is expected to boost its demand in the coming years.

By application, the market is distributed into customer experience & PR management, real-time analytics, content management, digital marketing & sales management, and others. Digital marketing and sales management are expected to grow at the highest CAGR due to the rising demand to analyze social media data and consumers behavior.

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Based on the type, the market is segregated into print media monitoring, social media monitoring, broadcast media monitoring, online media monitoring, and others (social monitoring). The social media monitoring segment is expected to gain traction due to the increasing use of the internet in online video streaming platforms.

By component, the market is bifurcated into software/platform and services. Increasing demand for software solutions such as Google Alert, Hootsuite, and others is expected to fuel the market growth.

Geographically, the market share is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

The report provides ample information and statistical data regarding the recent trends and developments in the market. The impact of COVID-19 pandemic and growth factor amid the pandemic is highlighted further in this report. Drivers and restraints affecting the market growth are discussed, along with the regional market growth information. A list of prominent players in the market and recent launches introduced by the companies are given further in this report.

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