The need for efficient crisis management tools in media monitoring tools market share positively impacts the growth of the market.

PORTLAND, PORTLAND, OR, UNITED STATES, January 24, 2024 /EINPresswire.com/ — A recent report from Allied Market Research, titled “Media Monitoring Tools Market,” reveals that the market is poised for significant growth. Valued at $3.4 billion in 2021, it is projected to reach $13.7 billion by 2031, with a robust compound annual growth rate (CAGR) of 15.1% from 2022 to 2031.

Media monitoring tools play a crucial role in evaluating communication and marketing strategies, tracking target audiences, and gauging sentiment surrounding a brand. These tools enable users to monitor brand mentions, products, and services across diverse media outlets, encompassing traditional print and broadcast, online platforms, and social media. Comprehensive media monitoring tools can analyze both textual and visual content, recognizing the impact of imagery alongside written material. These tools are designed to scour all relevant content related to a user, their company, industry, and competitors.

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The market’s growth is attributed to the increasing adoption of cloud-based solutions and the rising demand for effective competitor analysis, contributing to the expansion of the global media monitoring tools market. Additionally, the need for efficient crisis management tools positively influences market growth. However, challenges such as high initial deployment and service costs, as well as concerns about data privacy, present obstacles to market expansion. On a positive note, advancements in artificial intelligence (AI) and machine learning promise lucrative opportunities for the media monitoring tools market in the forecast period.

The report delves into the growth prospects, challenges, and trends in the global database management system market analysis. Porter’s five forces analysis is employed to understand the impact of factors such as supplier bargaining power, competitive intensity, the threat of new entrants, substitutes, and buyer bargaining power on the global database management system market share.

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In terms of deployment models, the on-premise segment currently holds the largest market share due to the customized monitoring requirements of businesses in various sectors. Nevertheless, the cloud segment is expected to experience the highest growth rate, driven by its ease of deployability and scalability.

By component, the service segment is estimated to register the highest CAGR of 16.4% during the forecast period, due to growing large-scale data monitoring needs of large enterprises. However, the software segment dominated the market in terms of revenue in 2021, contributing to nearly three-fifths of the global media monitoring tools market, and is expected to continue its dominance during the forecast period. This is due to growing social media presence of modern business enterprises.

By application, the online media monitoring segment is anticipated to register the highest CAGR of 17.5% during the forecast period, due to growing need for online media monitoring and moderation services across different industries. However, the broadcast media monitoring segment held the lion’s share in 2021, contributing to nearly one-third of the global media monitoring tools market, and is expected to maintain its dominance during the forecast period. This is due to need to ensure the quality of information flowing through public broadcasting channels.

By region, the global media monitoring tools market across North America held the largest share in 2021, accounting for nearly two-fifths of the market, and is expected to continue its dominance during the forecast period. This is due to high concentration of specialized data analytics and data mining vendors in the region. However, the market across Asia-Pacific is projected to portray the highest CAGR of 16.9% during the forecast period, due to ongoing digital transformation of the region.

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During the pandemic situation, there was an increase in IT services and digitalization that lead to increasing cybercrimes and data hacking activities, across the world. Thus, monitoring tools became even more significant for data privacy and identification of leakage. In addition, media monitoring tools provided graphs that showed the number of articles over a specific period, sentiment analysis of individual articles or general coverage, and maps displaying the geographical origins of coverage. Such applications supported the growth of the media monitoring industry.

Moreover, media monitoring tools help to monitor the entire web, including forums, blogs, news sites, communities, and anywhere that conversations take place on the web. Further, by listening to conversations on social channels and the web, companies can identify new opportunities or collect worthwhile feedback and information about competitors. Consumers want to be sure that their opinion is heard by the companies they are targeting on social media, and that it is relevant to other people to actively contribute to change or fuel improvements for the services and products that they buy. Such trends are promising great opportunities for the future of the media monitoring tools industry.

Major market players

• Agility PR Solutions LLC
• BoomSonar Suite
• Burrelles
• Buzzcapture
• Cision US Inc.
• Coosto
• Critical Mention, Inc.
• Glean.info
• Hootsuite Inc.
• Lucidya
• M-Brain
• Meltwater
• SemanticForce
• Snap Inc.
• The Social Media Research Foundation
• Sprinklr, Inc.
• Talkwalker Inc.
• TVEyes Inc.
• Ubermetrics Technologies GmbH
• YouScan

The report analyzes these key players of the global media monitoring tools market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player

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