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Social Media Management Market to Hit Sales of 63.63 Billion by 2028 | Spending on Social Media Management Increased By 27% in One Year

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Westford, USA, Sept. 29, 2022 (GLOBE NEWSWIRE) — There is no denying that social media management market has become a powerful communication tool in today’s society. According to a recent study by SkyQuest, more than half of all online adults (65%) use social media sites such as Facebook, LinkedIn, Twitter and Instagram. This represents a significant increase from just three years ago, when only 47% of online adults used social media sites. Moreover, the growth in social media use has not been limited to young adults; 55% of adult women and 78% of adult men use social media.

With the growth of social media management market, businesses have realized the importance of having a social media management plan in place. Not only is it important to have a plan in place to ensure that the company’s social media presence is managed effectively and consistent, but it has also become essential to track and analyze social media activity in order to improve marketing strategy. A well-executed social media management plan helps the businesses control the message they are putting out there, as well as identify any potential issues or gaps in their strategies.

Despite this widespread adoption, businesses are still learning how to effectively use social media in the global social media management market. In fact, our recent survey pointed out that only 36% of companies employ a full-time person to manage their social media accounts. In addition, 43% of companies consider outsourcing their social media management duties, and 24% have contracted out their social media management services.

Given the meteoric rise in demand for social media management market, it is no surprise that businesses are scrambling to find an effective way to utilize these platforms. Some businesses are beginning to realize that a mix of traditional marketing methods and social media management is the best approach.

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SkyQuest Survey Reveals 73% Organization are Using or Planning to Use Social Media Management Market

With all of the talk about social media, it’s no surprise that more and more businesses are using it to connect with their customers. And one of the most popular means of communication is social media management.

This week, SkyQuest released a survey of 2,500 social media management professionals in North America, Europe, Asia-Pacific, and Latin America. The research found that almost three-quarters (73%) of SMM professionals have implemented or plan to implement an automated Twitter management solution in the next 12 months. Additionally, 70% use social media platforms more than eight hours per day. In terms of top organizational priorities for SMM efforts in social media management market, creating content (68%) and measuring engagement (66%) were the top two. Furthermore, 84% report achieving at least one objective they set for their organization’s social media strategy with only 6% reporting a negative experience.

According to the study, while nearly two-thirds (63%) of the respondents have a formal strategy in place for managing social media activities, only 34% feel that their strategy reflects the full breadth of their company’s social media presence.

A lack of alignment with overall corporate goals was cited as the main reason for this mismatch in the social media management market, with 78% of respondents saying it is difficult to track performance against objectives on social media. Additionally, only 38% believe that their employees are using social media effectively in support of company goals.

As per SkyQuest study, the top five areas where companies in the global social media management market can improve their strategy are: developing a clear business case for social media (91%); setting measurable and achievable goals (86%); developing clear lines of authority and responsibility (81%); training employees on how to use social media effectively (68%); and deploying tools and technologies that support effective use of social media (66%).

Browse summary of the report and Complete Table of Contents (ToC):

https://skyquestt.com/report/social-media-management-market

AI is Next Big Thing for Social Media Management Market

Artificial intelligence (AI) is revolutionizing social media management, making it easier and faster for companies to keep up with the latest trends and developments in the industry. According to a study by SkyQuest, AI can help social media managers cut down on the time they spend on tasks such as scheduling posts and managing followers.

In addition, AI can help identify which posts are performing well and which ones need revision in the global social media management market. This saves time and energy, as managers no longer have to comb through data to determine which posts are resonating with their audience. AI can also identify potential Issues that need to be addressed on social media platforms, such as content that offends or infringes on copyright laws.

These days, there are a variety of platforms that offer AI-assisted social media management tools. Organizations can also take advantage of these tools to improve their communication strategy.

First, let’s take a look at the most popular AI-assisted tool in global social media management market: Hootsuite. This platform allows users to manage multiple accounts from one location. It also lets users post updates and respond to comments from all of their accounts in one place. Additionally, it provides a dashboard that helps analysts track the progress and performance of each individual account.

Another popular tool for managing multiple accounts is Buffer, perfect fit for small businesses. This platform allows users to easily post updates across all their social media accounts in one place.

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Spending on Social Media Management Increased By 27% in One Year

As businesses in the global social media management market continue to implement and use social media as a marketing tool, spending on social media management services continues to grow. In the past year, spending on such services has increased by an estimated 27%. This substantial increase is likely due to the large number of businesses that have yet to fully embrace social media, and those who have only begun to use it, but need assistance in managing their accounts.

The average cost for single service in the global social media management market ranges from $100 to $50,000, but the costs can go much higher depending on the level of customization and automation desired. 61% of businesses that have used a social media management service say they’ve spent more than $1,000 per month on the service. The most common reasons for spending more are increased engagement (62%), and increased follower growth (61%).

One of the primary reasons for this rapid growth is that social media management services can help businesses save time and energy. For example, if a business has 50 different Twitter accounts, an online social media management service can help them manage all of them more easily and effectively. Additionally, these services can help businesses monitor their social media activity and track how it’s impacting their overall brand image and public relations.

Why is this social media management market being so popular? There are a number of reasons that SkyQuest study suggests. First and foremost, social media platforms are incredibly effective tools for building and maintaining relationships with customers and clients. Additionally, these platforms allow businesses to engage with their customers in a way that is both interactive and engaging. As a result, businesses that understand how to use social media correctly can achieve tremendous success in building brand awareness, generating leads, and generating sales.

Top Players in Social Media Management Market

  • Adobe Inc. (US)
  • IBM Corporation (US)
  • Google LLC (US)
  • Oracle Corporation (US)
  • Salesforce Inc. (US)
  • Sprout Social (US)
  • Hootsuite (Canada)
  • Meltwater (Netherlands)
  • Sprinklr (US)
  • Digimind (France)
  • HubSpot (US)
  • Clarabridge (US)
  • Khoros (US)
  • Falcon.io (Denmark)
  • Zoho Corporation (India)
  • NetBase (US)
  • Brandwatch (UK)
  • Sendible (UK)
  • MavSocial (US)
  • Emplifi, Inc. (US)
  • Synthesio Inc. (US)
  • eClincher (US)

Related Reports in SkyQuest’s Library:

Global Pure Play Software Testing Services Market

Global Patent Analytics Market

Global Customer Experience (CX) Outsourcing Services Market

Global Data Preparation Tools Market

Global Automotive Engineering Services Market

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SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.

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Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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13 hours ago

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May 11, 2024

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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1 day ago

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May 11, 2024

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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May 10, 2024

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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