Social Media Management Market Size, Share Global Analysis Report, 2024 – 2032

Industry Insights

[229+ Pages Report] According to Facts & Factors, the global social media management market size was valued at USD 18.65 billion in 2023 and is predicted to surpass USD 100.89 billion by the end of 2032. The social media management industry is expected to grow by a CAGR of 20.63% between 2024 and 2032.

Market Overview

Social media management refers to the strategies, tools, and processes for managing social media channels. It helps create, schedule, and engage content activities. It also assists brands in building customer loyalty and growing the audience.

There are many social media management platforms in the market that help automate tasks on social media channels. These tools integrate many AI tools like chatbots on their channels.

Key Insights

• As per the analysis shared by our research analyst, the global social media management market size is estimated to grow annually at a CAGR of around 20.63% over the forecast period (2024-2032).
• In terms of revenue, the global social media management market size was valued at around USD 18.65 billion in 2023 and is projected to reach USD 100.89 billion by 2032.
• Growing social media adoption is driving the growth of the global social media management market.
• Based on end-users, the media & entertainment segment is growing at a high rate and is projected to dominate the global market.
• Based on applications, the sales and marketing management segment is anticipated to grow with the highest CAGR in the global market.
• Based on organization types, the large enterprise segment is projected to swipe the largest market share.
• Based on components, the solution segment is anticipated to witness significant developments in the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.

Growth Drivers

• Growing social media adoption is driving the growth of the global market.

A growing number of social media users all across the globe is driving the need for social media management solutions in the market. An increasing number of people are participating on platforms like Twitter, Instagram, LinkedIn, Facebook, and TikTok.

Therefore, companies are actively working on leveraging social media channels to reach and engage with users effectively. Also, the growing awareness among businesses regarding the importance of digital marketing strategies to improve customer engagement and brand visibility is further expected to fuel the industry's growth.

Businesses are working on data analytics to understand customer insights and their campaign performance. These strategies require effective social media management solutions to help businesses optimize their social media strategies.

Additionally, the boom of e-commerce and social commerce all across the globe is likely to further open new growth avenues in the global social media management market. Social media is becoming a new tool to promote products, sales, and others.

Social media management also offers customization capabilities to help businesses get tailored marketing tools. Therefore, all these factors are likely to contribute significantly toward the market's growth.

For instance, Disctopia collaborated with Semrush in 2023 to improve the company's SEO solutions for better reach. The company is a leading specialist in streaming platforms and podcast hosting.

Restraints

• High competition is likely to hinder the growth of the global market.

Increasing number of social media management solutions in the market is leading to intense competition. Therefore, this oversaturation landscape is likely to hinder the growth of the social media management industry in the coming years.

Also, the latest regulatory policies and data privacy acts, such as CCPA and GDPR, are further expected to slow down the growth of the industry.

Opportunities

• Rise of influencer marketing is expected to foster growth opportunities in the global market.

The growing popularity of influencer marketing is helping businesses improve their reach and credibility. Social media management tools and solutions help businesses measure their ROI, track campaign performance, and manage influencer relationships.

Technological advancements, particularly in the field of machine learning and AI, are further expected to revolutionize the industry.

Many new social media management software are coming up with automated audience targeting, sentiment analysis, and content scheduling features, which are also anticipated to fuel the market's growth.

Also, the rising digital marketing environment is pushing the need for real-time customer engagement to build business reputation and brand loyalty.

The increasing volume of content on social media businesses is prioritizing high-quality strategic content, which is also likely to widen the scope of the global social media management market in the coming years.

For instance, Sprinklr came up with a new version, 18.8, of its AI+ platform in 2023. This upgraded version is likely to offer generative AI expertise for social media management, customer service, and other strategies.

Challenges

• Skill gap is a big challenge in the global market.

Social media management tools are very sophisticated and, therefore, require skilled professionals to navigate and utilize these tools effectively. However, the lack of trained staff is a big challenge in the social media management industry. Also, not many small and medium enterprises have the resources and knowledge to use social media management tools, which further limits their adoption rate.

Segmentation Analysis

The global social media management market can be segmented into end-users, applications, organization sizes, components, and regions.

On the basis of end-users, the market can be segmented into travel & hospitality, manufacturing, media & entertainment, IT & telecom, healthcare and life sciences, government & public sector, consumer goods, BFSI, and others.

Media & entertainment segment accounts for the largest share of the social media management industry during the forecast period. Media and entertainment companies deal with a large amount of content across different platforms, and therefore, there is a high requirement for social media management solutions.

Also, there is a growing focus of people on creating interactive and on-demand content. Social media management tools help these companies track community engagement rates, audience interactions, and many others.

Companies in the sector require many promotional activities and brand-building strategies, which pose a huge requirement for social media management solutions to facilitate the planning and execution of campaigns.

Integration of advanced technologies like machine learning and AI is also expected to fuel the growth of the segment by automating content posting, ad placement, and many other activities.

On the basis of applications, the market can be segmented into risk management, fraud detection, competitor intelligence, customer experience management, sales & marketing management, and others. The sales and marketing management segment is likely to dominate the market during the forecast period.

Nowadays, digital channels are the major source of marketing, and therefore, companies depend upon social media to connect with their customers.

Therefore, companies are adopting social media management solutions to manage their sales and marketing activities, like planning, executing, and tracking campaigns for maximum outreach.

Moreover, social media has emerged as the primary source of lead generation, and therefore, marketing teams are focusing on these channels for high conversion rates. These management solutions offer real-time insights on sales and marketing indicators referred to as KPIs like conversion rates, click-through rates, and many others.

On the basis of organization sizes, the market can be segmented into large enterprises and small-medium enterprises. Large enterprises are the fastest-growing segment in the social media management industry.

Large enterprises have a significant online presence, and therefore, it is a prime factor for the high growth rate of the segment. These organizations require sophisticated management tools and solutions for branding, market research, and customer engagement strategies.

These organizations work on multifaceted marketing campaigns and, therefore, need to work on complex marketing strategies that include varied geographical locations, demographics, and product lines.

Also, these organizations pose huge requirements for sophisticated solutions to track performance across different channels. Also, these organizations demand comprehensive tools that can easily be integrated with marketing automation, customer relationship management, and many other existing systems and software.

On the basis of components, the market can be segmented into services and solutions. The solution segment is likely to register the highest CAGR growth during the period.

Social media management solutions come with different features and functionalities that help organizations comprehensively manage every parameter of their social media. These features include engagement tracking, social listening, audience analytics, content scheduling, and others.

Moreover, businesses are also emphasizing data analytics to monitor campaign performance, audience behavior, and many other aspects. These solutions offer actionable insights that help organizations make data-driven decisions regarding their social media strategies.

Report Scope

Regional Analysis

• North America to dominate the global market.

North America will likely account for the largest share of the global social media management market during the forecast period. The region has the highest social media user rates.

Also, the majority of businesses and individuals actively participate on platforms like Twitter, Instagram, Facebook, LinkedIn, and TikTok to engage with audiences effectively.

Moreover, the strong presence of leading technology companies like Meta is also likely to positively impact the growth trajectory of the regional market. This technological ecosystem facilitates the seamless integration of social media management solutions into businesses.

Influencer marketing is on the rise in North America and is also likely to help with brand management, partnership tracking, influencer performance, and campaign effectiveness.

Therefore, all these factors are likely to accentuate the growth of the regional market manifolds in the coming years.

Asia Pacific is also expected to experience significant growth in the social media management industry in the coming years. The region has the fastest-growing population of social media users, which is a primary reason for the high growth rate of the regional market.

Many businesses in the region are working on mobile-first contexts, which is also driving the demand for social media management solutions to optimize their businesses for mobile usage and achieve maximum outreach.

APAC has a diverse cultural landscape, and therefore, it is important to use the social media strategy accordingly. Social media management solutions help businesses with localized content to connect with a targeted audience.

Businesses in the region are working on personalization to achieve high customer engagement and brand loyalty, which is also expected to pose a strong demand for social media management solutions.

Many Southeast Asian countries like Malaysia, Indonesia, and the Philippines are also experiencing an increasing growth in social media usage, and therefore, businesses are investing in management solutions to cater to the growing demand.

For instance, SOCi Inc. came up with SOCi Surveys in 2023 to gather first-party feedback from end-users. The company is working on improving the customer experience with these surveys.

Competitive Analysis

The key players in the global social media management market include:

• Zoho Corporation Pvt. Ltd.
• Sprinklr Inc.
• Salesforce Inc.
• Oracle Corporation
• Meltwater
• International Business Machines Corporation
• HubSpot Inc.
• Google
• Digimind
• Adobe

For instance, Sprout Social Inc. successfully took over Tagger Media in 2023. The acquired company specializes in marketing and social intelligence. It is expected to deliver comprehensive reporting, workflow, and intelligence.

The global social media management market is segmented as follows:

By End-Users Segment Analysis

• Travel & Hospitality
• Manufacturing
• Media & Entertainment
• IT & Telecom
• Healthcare And Life Sciences
• Government & Public Sector
• Consumer Goods
• BFSI
• Others

By Applications Segment Analysis

• Risk Management
• Fraud Detection
• Competitor Intelligence
• Customer Experience Management
• Sales & Marketing Management
• Others

By Organization Sizes Segment Analysis

• Large Enterprises
• Small-Medium Enterprises

By Components Segment Analysis

• Services
• Solutions

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America