Media Monitoring Tools Market Expected to Reach $13.7 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Media Monitoring Tools Market," The media monitoring tools market forecast was valued at $3.4 billion in 2021, and is estimated to reach $13.7 billion by 2031, growing at a CAGR of 15.1% from 2022 to 2031.

Media monitoring is a tool to measure communication and marketing strategies, track target audiences, and glean the sentiment around a brand. It allows users to track mentions of brands, products, and services across all media outlets, including traditional print and broadcast, online and social. This includes both text and imagery, the latter can have as much impact as the former. A comprehensive media monitoring tool can trawl for any content relevant to a user, its company, industry, and competition.

Furthermore, surge in usage of cloud-based solutions and the need for effective competitor analysis (industry trend monitoring) boosts 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 hamper 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 market during the forecast period.

Depending on deployment model, the on-premise segment holds the largest share of the media monitoring tools market. This is attributed to the custom monitoring needs of various businesses operating in a variety of business sectors. However, the cloud segment is expected to grow at the highest rate during the forecast period, due to its easier deployability and higher scalability, which is expected to boost its demand in the coming years.

The report focuses on growth prospects, restraints, and trends of the global database management system market analysis. The study provides Porter’s five forces analysis to understand impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the global database management system market share.

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 time 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 on the web, companies can identify new opportunities or collect worthwhile feedback and information about competitors. Consumers wanted 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 in order 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.

KEY FINDINGS OF THE STUDY

• By deployment model, the on premise segment accounted for the largest media monitoring tools market share in 2021.
• By region, North America generated the highest revenue in 2021.
• By enterprise size, the large enterprise segment generated the highest revenue in 2021.

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 media monitoring tools industry.