Research Nester’s recent market research analysis on “Media Monitoring Tools Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the media monitoring tools market in terms of market segmentation by type, end-user, application and by region.
Surging Adoption of Social Listening Platforms and Rising Usage of Cloud Based Solutions Among Enterprises to Promote Global Market Share of Media Monitoring Tools Market
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The global media monitoring tools market is estimated to grow majorly on account of the rising demand for social media and video platforms. Factors such as increasing accessibility of the internet in developing nations are also growth-driving factors for the demand for media monitoring tools. Moreover, the increased spending on digital advertisement is also acting as a propelling factor for the growth of the global media monitoring tools market. In the year 2020, the global spending on advertisements is almost USD 673 billion every year. The demand for media monitoring tools includes the increasing popularity of product branding on various social networking sites such as Instagram, Facebook, and others. On the back of this, the global media monitoring tools market is expected to garner remarkable growth. Other than this, the media monitoring tools market is driven by the rising penetration of the Internet in developing countries. It has been estimated that almost 5.3 billion people globally, utilize the internet in the year 2023. Other than this, the adoption of the SaaS-based or cloud-based monitoring platform such as Meltwater, LexisNexis, Cision Communication Cloud, etc is rising. The necessity for an organization’s productivity is expected to promote the global media monitoring tools market growth.
Some of the major growth factors and challenges that are associated with the growth of the global media monitoring tools market are:
Growth Drivers:
• Rising Requirement of Regulatory Scrutiny
• Increasing Demand for Competitive Intelligence
Challenges:
The high costs involved at the initial stage, information overload and noise, privacy concerns, ethical issues, and multilingual content analysis are some of the major factors anticipated to hamper the market size of the global media monitoring tools market.
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By deployment, the global media monitoring tools market is segmented into on-premise and cloud. Out of these, the cloud segment is projected to gain the maximum largest market share of almost 64% in the year 2036. The growth of the segment can be attributed to the rising IT infrastructure. For instance, in the year 2022, the organizations worldwide were utilizing an average of almost 130 software as SaaS applications.
By region, the Europe media monitoring tools market is to generate the highest revenue by the end of 2036. The European media monitoring tools market is expected to witness significant growth of almost 14.2% CAGR during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global media monitoring tools market which includes company profiling of Meltwater Group, Cision Ltd., Brandwatch Ltd., Talkwalker Inc., Sysomos Inc., Zignal Labs Inc., Mention SAS, Sprout Social Inc., Hootsuite Inc., Agility PR Solutions LLC, NEC Corporation, Fujitsu Limited, Sony Corporation, Panasonic Corporation, NTT Data Corporation and others.
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