Social Media Management Market Worth $17.7 Billion by 2023 - Exclusive Report by MarketsandMarkets - Seite 2

Medium organizations segment to account for the largest market size and record the highest CAGR during the forecast period

In the Social Media Management Market study, organizations with revenue between USD 10 million and USD 1 billion are considered as medium-sized organizations. These organizations constitute the largest market size in the global Social Media Management Market. They have been majorly dependent on the proliferation of mobile devices, IoT, and social media user growth, which demands the need for managing these digital assets. Medium-sized organizations have been increasingly investing in social media advertising, and marketing and selling activities to promote their products and services, as social marketing is gaining significant demand. This, in turn, has created the need for integrated social media management solutions to share, collaborate, and manage enterprise content over social media for revenue generation.

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North America to account for the largest market size during the forecast period

North America constitutes the largest market size, due to the early adoption of advanced technology solutions and supporting technologies including governance and security. Further, a majority of the vendors in the market are based in the region and have a strong presence across all major industries in the region. These vendors have taken up several market growth initiatives in the form of partnerships with different technology players to offer rapid social network data analytics and processing solutions. In addition, a stable economy, advanced technological developments, and strict regulations for data protection are major factors influencing the growth of the Social Media Management Market in the region.

Major global vendors offering social media management include IBM Corporation (US), Oracle Corporation (US), Salesforce (US), Adobe Systems (US), Hootsuite Inc. (Canada), Sprout Social, Inc. (US), Google, Inc. (US), Sysomos (Canada), Sprinklr, Inc. (US), Digimind (France), Clarabridge (US), Spreadfast (US), Falcon.io (Denmark), Zoho Corporation, (India), and Lithium Technologies, LLC (US). The study includes an in-depth competitive analysis of the key players in the Social Media Management Market, along with their company profiles, recent developments, and key market strategies.