The social media management market is anticipated to witness robust growth in the coming years says Fortune Business Insights in their new report. The report is titled,”Social Media Management Market Size, Share and Global Trend by Component (Solution, Services), By Application (Sales and Marketing Management, Customer Experience Management, Competitive Intelligence, Risk Management and Fraud Detection), By Industry Vertical (Telecom and IT, Media and Entertainment, Manufacturing, Travel and Hospitality), By Deployment (Cloud-based, On-premise), and Geography Forecast till 2026”.
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Top Players Overview:
- IBM Corporation
- com Inc.
- Oracle Corporation
- Adobe Inc.
- Sprout Social
- Google Inc.
- Lithium Technologies
Popularity of Sprout Social App to Encourage Market Players to Come Up with Innovative Products
Various companies are adopting innovative strategies to stay ahead in the competition. They are investing in research and development to offer a better medium of social connection. For instance, a social medical management app namely, Sprout Social is developed in order to provide excellent customer service through social media and also provide indirect engagement opportunities. Such inventions are likely to bode well for the global social media management market.
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1. By Component
2. By Application
- Sales and Marketing Management
- Customer Experience Management
- Competitive Intelligence
- Risk Management and Fraud Detection
3. By Industry Vertical
- Banking, Financial Services, and Insurance
- Retail and E-commerce
- Government and Public Sector
- Healthcare and Life Sciences
- Telecom and IT
- Media and Entertainment
- Travel and Hospitality
4. By Deployment
5. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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Key Industry Developments
- March 2019: Hootsuite along with Adobe Experience Platform announced its plan to unite social data with omni-channel Campaigns. This combination will carry insights from social action to Adobe’s Real-Time Customer Profile, empowering Adobe clients to convey omni-channel for promoting activities that is expected to educate their clients’ online behaviour
- May 2019: Insights utilizes Sprinklr’s AI abilities called Sprinklr Intuition AI in order to naturally classify client remarks across over online life, audit locales (counting Amazon, Walmart, and Best Buy), and possessed information. For instance, surveys, focus groups and emails on product feedback related to design, packaging, performance or features.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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