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Media Monitoring Software Comprehensive Market
[ 170 + Pages Research Report ] Media Monitoring Software Comprehensive market to surpass USD 9.7 billion by 2030 from USD 3.1 billion in 2021 at a CAGR of 13.60% throughout the forecast period, i.e. 2020-30.
Media monitoring is a process of gathering data from all the concerned sources using a tool functionally designed to monitor and analyze content with specific keywords and topics related to any event or situation or reviews about a product or a brand or what is being said about an individual. Most eCommerce platforms use social media to communicate with current and prospective consumers which helps them to get useful insights and use positive feedback in their marketing and negative feedback to rectify the errors in their business. The media monitoring tool uses algorithms that crawl sites and continuously index them, after which, they can be accessed using strings and queries.
Global Media Monitoring Software Comprehensive market to surpass USD 9.7 billion by 2030 from USD 3.1 billion in 2021 at a CAGR of 13.60% throughout the forecast period, i.e. 2021-30. With the rising digitalization consumers are preferring digital platforms to study, for financial transactions, do online shopping, and virtually stay connected with friends which are some of the key factors for the expansion of the media monitoring software market.
In July 2020, Inclusive, a data science company announced the latest additions to Inclusive media monitoring software named Essentials and Pro.
A cloud-based segment to grow with the highest CAGR of 13.60% during 2021-30
Global Media Monitoring Software Comprehensive market is segmented by deployment into Cloud-based and On-Premises. The cloud-based segment held the largest market share of XX.X% in the year 2019.
Integrated platform segment to grow with the highest CAGR of 13.60% during 2021-30
Global Media Monitoring Software Comprehensive market is bifurcated by offering the integrated platform and standalone system. The integrated platform segment held the largest market share of XX.X% in the year 2019.
IT and telecommunications segment to grow with the highest CAGR of XX% during 2020-30
Global Media Monitoring Software Comprehensive market is also segmented by end-users into media and entertainment, retail and consumer goods, financial services, IT and telecommunications, and Others. IT and telecommunications segment held the largest market share of XX.X% in the year 2019.
Large Enterprise segment to grow with the highest CAGR of 13.60% during 2021-30
Global Media Monitoring Software Comprehensive market is also segmented by organization size into small & medium enterprises and large enterprises. The large enterprise segment held the largest market share of XX% in the year 2019. This is rising on the back of the high growth rate of employees in the sector. Presently, the demand for media monitoring tools has been higher in large enterprises. Although this trend is likely to remain so over the next few years, small and medium enterprises are also projected to report an increase in their demand for these tools shortly. Software platforms are witnessing the most prominent demand among the components of media monitoring tools. Proliferating at a CAGR of XX.X%, this segment is expected to maintain its lead throughout the forecast. Network security management and digital asset management have surfaced as the leading application areas for media monitoring and are expected to continue with their high demand in the years to come.
Mounting digital platforms
The rise in the number of digital platforms such as e-books, online newspapers, magazines, online study materials, tutorials, and online courses has virtually connected people with the latest technology. Additionally, the increasing number of subscribers on Facebook, Instagram, LinkedIn, etc. are key factors contributing to the growth of the media monitoring software market.
Increase in adoption of media monitoring software by companies
With the advent of digitalization in various sectors of the economy, companies have initiated the process of deployment of media monitoring software to gather and analyze the relevant data which has positively impacted the business efficiencies and is expected to boost the media monitoring software market throughout the forecast period.
Lack of Professional Workforce
With the rising digitalization, an increase in the number of databases has been observed which is a key factor restraining growth since to handle databases, acquire the necessary information and generate useful insights skilled and professional workforce is required which is in scarce numbers. Network security is also one of the issues restraining the growth of the global market.
Global Media Monitoring Software Comprehensive market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global Media Monitoring Software Comprehensives market in North America held the largest market share of XX.X% in the year 2019. North America will continue to dominate the global media monitoring software market throughout the forecast period due to the highest internet consumption rate in the world, access to advanced IT infrastructure, and constant innovations in the application of media monitoring tools. Europe and Asia-Pacific regions will also observe substantial growth over the projected timeline due to rising awareness of the media monitoring software and the rising number of social media users.
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
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Media Monitoring Software Comprehensive Market Segments:
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