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Social Media Management Market Size

Report ID: GMI5766
Published Date: Jul 2024
Report Format: PDF

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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.

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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.

Social Media Management Market Report Attributes
Report Attribute	Details
Base Year:	2023
Social Media Management Market Size in 2023:	USD 19.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	22.4%
2032 Value Projection:	USD 112.6 Billion
Historical Data for:	2018 – 2023
No. of Pages:	240
Tables, Charts & Figures:	373
Segments covered:	Component, Deployment Mode, Enterprise size, Application, End-User
Growth Drivers:	Increasing Social Media Penetration Growing Complexity of Social Media Landscape Need for Data-Driven Insights Importance of Influencer Marketing The growing adoption of cloud computing
Pitfalls & Challenges:	Data Privacy Concerns Algorithm Changes

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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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of social media management reached USD 15 billion in 2023 and is set to observe 15% CAGR from 2024 to 2032, owing to the growing emphasis on competitive intelligence at a global level.

Retail & e-commerce segment is expected to grow at a CAGR of over 25% through 2032, favored by widespread usage of social media for promoting traffic in an e-commerce app or website, selling products directly through social platforms.

North America market is poised to expand at a CAGR of over 15% during 2024 to 2032, attributed to technological innovations that create opportunities for social media management service providers and vendors.

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