According to a new market report pertaining to the global media monitoring tools market published by Transparency Market Research , the global media monitoring tools market is projected to reach US$ 11,995.4 Mn by 2030. The media monitoring tools market is projected to expand at a CAGR of 14.1% from 2020 to 2030.
- Increased Internet Accessibility in Developing Countries – The media monitoring tools market is being driven by the increasing accessibility of the internet in developing nations. Developing countries are receiving government support for the development of electronic infrastructure, which includes internet connectivity. Countries such as India, Indonesia, and Malaysia are highly focused on digitization. Internet access is growing worldwide, including in developing countries. However, it remains higher in advanced economies. A minimum of 60% of the population in several large economies have access to the internet. These economies include Russia, China, Brazil, etc. Internet access rates is increasing in developing countries and are concentrated mostly in sub-Saharan Africa and parts of Asia. The increasing accessibility has driven the volume of digital content exponentially. The need for media monitoring tools has also increased with the increasing scope of digital advertising and growing number of internet users.
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- Increasing Spend on Digital Advertising – By the end of year 2020, it is expected that digital advertising will likely hit US$ 336 Bn. A growth of 6.5% in the overall U.S. ad spend is anticipated in 2020 with a 12.4% jump in digital advertising to US$ 135 Bn, making up more than 53% of total ad spend. BFSI is expected to spend more than US$ 53 Bn in advertising. The growing spend on digital advertising is driving the need to adopt media monitoring tools to capitalize the huge market opportunity.
Media Monitoring Tools Market: Market Taxonomy
The global media monitoring tools market has been segmented in terms of component, enterprise size, and industry. By component, the market has been segmented into software/platform, services [professional services {consulting services and integration & implementation}, managed services]. By enterprise size, the global media monitoring tools market has been segmented into small & medium enterprise, and large enterprise. Based on industry, the media monitoring tools market has been segmented into IT & telecom, hospitality, BFSI, healthcare, retail and E-commerce, media and entertainment, manufacturing and others (education, government). By region, the global media monitoring tools market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Initially, vendors across the ecosystem of media monitoring tools were analyzed based on device and technology providers in the market.
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Media Monitoring Tools Market: Regional Outlook
North America is expected to dominate the media monitoring tools market during the forecast period. Asia Pacific is expected to see increasing growth in the media monitoring tools market. The market in Europe, South America, and Middle East & Africa is also expected to expand rapidly during the forecast period.
The report provides in-depth segment analysis of the global media monitoring tools market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the media monitoring tools market.
Media Monitoring Tools Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global media monitoring tools market. Key players profiled in the report include BoomSonar, Buzzcapture B.V., Coosto BV, Snap Trends, Inc, YouScan, Ubermetrics Technologies GmbH, Lucidya, Social Media Research Foundation, Sprinklr, Inc., SemanticForce Inc., Talkwalker, Agility PR Solutions LLC, BurrellesLuce, Cision Ltd., Critical Mention, Inc., CyberAlert LLC, Hootsuite Inc., M-Brain, Meltwater, and TVEyes Inc.
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