The new report by Expert Market Research titled, 'Global Media Monitoring Tools Market Report and Forecast 2022-2027', gives an in-depth analysis of the media monitoring tools market, assessing the market based on its segments like component, enterprise size, industry, and regional markets among others. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): 2.99 billion USD
- Forecast CAGR (2022-2027): 13.50%
- Forecast Market Size (2027): 6.39 billion USD
In the media monitoring tools sector, the retail and e-commerce category are expected to have a solid market share. The increase can be linked to the increased use of media monitoring technologies in the industry to better understand consumer purchasing habits and analyse target audiences, as well as to enhance brand image through online content. Meanwhile, due to the growing usage of remote health monitoring facilities and greater expenditures in the healthcare business, the healthcare segment is expected to see an increase in demand for media monitoring tools. In the foreseeable term, these variables are expected to contribute to overall industry growth. In the forecast period, North America is expected to have a substantial proportion of the media monitoring tools market. The existence of significant market players in the region, such as BurrellesLuce and Cision Ltd., among others, may be credited to this expansion. These companies are progressively investing in the creation of media management and monitoring solutions to strengthen their product portfolios. Burrelles, for example, formed a collaboration with Agility PR Solutions in February 2020 to improve its media monitoring and communications services. These factors are expected to have a beneficial influence on the region's market growth.
Industry Definition and Major Segments
Media monitoring is the technique of scouring all publicly available material, such as on broadcast and print media platforms, seeking specific information, generally via the use of certain keywords. Media monitoring tools aid in the tracking and analysis of critical information and data across a variety of media platforms, particularly the online media platforms that have grown in popularity in recent years. Marketing and communications teams across a variety of sectors utilise social media monitoring tools to spot trends, follow rivals, analyse customer behaviour, and map attitudes. Social Media Monitoring Tools are designed to help brands better understand their social media presence, demographic data, and reputation. Thought leaders and influencers may be identified through social media monitoring tools, as well as particular references to a product/company/individual and trending topics or phrases.
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By component, the market is segregated into:
On the basis of enterprise size, the market can be divided into:
- Large Enterprises
Based on industry, the market can be segmented into:
- IT and Telecom
- Retail and E-commerce
- Media and Entertainment
The major regional markets of the media monitoring tools market are:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa regions
As more and more organisations develop their social media presence in an effort to broaden their communication channels for improved audience engagement, social media platforms have grown in popularity with a ubiquitous presence throughout the years. As a result, demand for social media monitoring tools is expected to rise, boosting market development. The improved accessibility to internet facilities among the general public, which is fueled by the rising adoption of digital devices such as smartphones, is another important driver driving market expansion. End users are being compelled to invest in media monitoring systems in order to gain a better knowledge of their audience by tracking brand mentions while building effective business strategies. These are also excellent for gathering competition information, assessing brand awareness, announcing new launches, and answering consumer questions, among other things. In the foreseeable term, these factors are expected to have a beneficial influence on market growth.
Key Market Players
The major players in the market are Agility PR Solutions LLC, BoomSonar, BurrellesLuce, Buzzcapture B.V., Cision Ltd., Coosto BV, Critical Mention, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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