Media Monitoring Tools Market Research, 2031
The global media monitoring tools market was valued at $3.4 billion in 2021, and is projected to reach $13.7 billion by 2031, growing at a CAGR of 15.1% from 2022 to 2031.
Increase in usage of cloud-based solutions and the need for effective competitor analysis (industry trend monitoring) boost the growth of the global media monitoring tools market size. In addition, the need for efficient crisis management tools in media monitoring tools market share positively impacts the growth of the market. However, high initial deployment, service costs, and data privacy concerns are hampering the media monitoring tools market growth. On the contrary, advancements in the field of AI and machine learning (providing more capable monitoring tools) are expected to offer remunerative opportunities for expansion of the media monitoring tools industry during the forecast period.
Media monitoring is the activity of monitoring the output of the print, online, and broadcast media. It is the use of tools to listen to millions of conversations on the web to determine what is being said about a particular brand, issues, people or product, and to discover opportunities. Social media monitoring can be passive, for example, listening people to discover what interests them, or it can be active, searching for references to a brand, campaigns, or actions.
The media monitoring tools market is segmented on the basis of component, deployment model, enterprise size, application, industry vertical, and region. By component, the market is bifurcated into software and service. By deployment model, the market is segmented into on-premise and cloud. By enterprise size, it is categorized into large enterprises and SMEs. By application, it is divided into print media monitoring, social media monitoring, broadcast media monitoring, online media monitoring, and others. By industry vertical, it is fragmented into BFSI, healthcare, media and entertainment, retail and e-commerce, IT and telecom, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the media monitoring tools market analysis are 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, and YouScan. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
In terms of enterprise size, the large enterprise segment holds the largest share of the media monitoring tools industry, owing to requirement of large enterprises to monitor huge sets of data and news articles. However, the SMEs segment is expected to grow at the highest rate during the forecast period, owing to the requirement of efficient management tools in small businesses to simplify their business operations.
Region wise, the media monitoring tools market was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to its high concentration of media monitoring tools solutions vendors such as Critical Mention, Inc, Glean.info, and Hootsuite Inc.. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to rapid economic and technological developments in the region, which is expected to fuel the media monitoring tools market growth in the region in the coming few years.
The report focuses on growth prospects, restraints, and trends of the global media monitoring tools market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors, such as the bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the global media monitoring tools market share.
Top Impacting Factors
Increasing Usage of Cloud-based Solutions
Media monitoring tools have permeated into almost every business sector such as BFSI, retail, IT and telecom, and others, due to the increase in parameters of internet connectivity and accessibility. Cloud solutions are expected to gain momentum due to rise in demand from various industries which includes the surge in implementation of SaaS across several sectors that ultimately arises the need for media monitoring tools. In addition, the sudden shutdowns of offices, schools, and enterprises have increased the demand for cloud solutions and services, which increases the usage of monitoring tools for data security, application workflows, and others.
Moreover, increase in usage of cloud-based solutions requires cloud monitoring tools because of security concerns, performance, and others. Such tools are NetApp cloud insights, Amazon cloudwatch, Microsoft Azure monitor, and others which results in benefits like simplifying the implementation of continuity plans enabling proactive risk remediation and improving the security of cloud applications and networks.
Need for effective competitor analysis (industry trend monitoring)
The media monitoring tools are adopted by sectors such as BFSI, hospitality, IT & telecom, and others for the purpose of competitor analysis which is done by media monitoring tools that drive the market growth. This competitor analysis requires that organizations stay connected with competitors’ & peers’ new business initiatives, financial results, competitive strengths and weaknesses, and areas in which they may pose an emerging threat. Here, media monitoring tools play an important role in surfacing, interpreting, and reporting on coverage of their actions which is driving the growth of the market. Moreover, media monitoring tools help to learn about emerging industry trends and remain updated with everything going on amongst the competitors.
COVID-19 Impact Analysis
The outbreak of coronavirus had a significant impact on the global media monitoring tools market, owing to the growing adoption by the IT & telecom industry to monitor the keywords. In addition, post the outbreak of the COVID-19 pandemic, the world witnessed rapid adoption of smartphones that further helped increase the usage of social media platforms, which in turn increased the demand for media monitoring tools.
Furthermore, a media monitoring tool is used to listen to millions of conversations on the web to determine what is being said about a particular brand, issues, people, or product, and to discover opportunities. Most social media monitoring tools work by continuously crawling and indexing sites, sometimes in real-time, such as Twitter. Once all of those sites are indexed, they can then be searched to find mentions, opinions, and sentiments on specific products, brands, companies, people, places, and others. Moreover, Post-pandemic had a huge impact on media monitoring tools due to rapid acceleration in the adoption of online digital media platforms supported by rising internet penetration.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the media monitoring tools market analysis from 2021 to 2031 to identify the prevailing media monitoring tools market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the media monitoring tools market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global media monitoring tools market trends, key players, market segments, application areas, and market growth strategies.
Media Monitoring Tools Market Report Highlights
| Aspects | Details |
 By Component |
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 By Deployment Model |
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 By Enterprise Size |
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 By Application |
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 By Industry Vertical |
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 By Region |
|
 Key Market Players | Buzzcapture, Sprinklr, Inc., M-Brain, Talkwalker Inc., The Social Media Research Foundation, YouScan, Lucidya, TVEyes Inc., Hootsuite Inc., Coosto, Meltwater, Agility PR Solutions LLC, Cision US Inc., SemanticForce, Burrelles, Ubermetrics Technologies GmbH, Glean.info, Snap Inc., Critical Mention, Inc., BoomSonar Suite |
Analyst Review
The adoption of media monitoring tools has increased in recent years owing to the need of modern business enterprises to hear and react to reports about their business, to maintain their brand value. Moreover, media monitoring tools utilize sentiment analysis on digital media comments, news, and posts to detect the tonal attitude of reporting. Furthermore, social media monitoring can provide businesses with a grasp of what consumers and potential customers feel about the brand, further solidifying the demand for media monitoring solutions in modern business enterprises.
Key providers of the media monitoring tool market such as Cision US Inc., Critical Mention, Inc, and Hootsuite Inc. account for a significant share in the market. With the larger requirement from the corporate culture, various brands are adopting strategic acquisitions and partnerships to automate and simplify data management. For instance, in April 2022, Cision US Inc. acquired real-time media monitoring company Streem. Through this acquisition, customers have benefited from a full suite of monitoring, distribution, insights, and social media solutions.
Furthermore, in March 2022, Cision US Inc. partnered with Benzinga on Cision PR Newswire's Homepage News product. This partnership has provided Benzinga's audience with additional high-value content while increasing the reach of designated press releases sent via PR Newswire. Brands that choose to amplify their press release with Homepage News have got direct placement on Benzinga's homepage within a widget dedicated to PR Newswire content. This new Homepage News distribution partnership provided exposure to an audience of investors, influencers, and the financial community.
In addition, with the increase in demand for getting instant solutions to the problem with all the resourceful insights companies such as Critical Mention, Inc. has performed strategic product launches to help the end users. For instance, in October 2020, Critical Mention, Inc launched Podcast Monitoring to its Earned Media Suite to allow customers to monitor brand mentions on thousands of the most popular podcasts. This launch has expanded Critical Mention’s industry-leading content, which already includes global TV, radio, online news, licensed content, and social media monitoring.
Increase in usage of cloud-based solutions and the need for effective competitor analysis (industry trend monitoring) boost the growth of the global media monitoring tools market size.
Region wise, the media monitoring tools market was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to its high concentration of media monitoring tools solutions vendors such as Critical Mention, Inc, Glean.info, and Hootsuite Inc..
The global media monitoring tools market size was valued at $3.42 billion in 2021, and is projected to reach $13.73 billion by 2031, growing at a CAGR of 15.1 % from 2022 to 2031.
The key players profiled in the media monitoring tools market analysis are 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, and YouScan. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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