Global Social Media Listening Market Size, Share & Trends Analysis Report By Application, By Solutions (Software and Services), By Vertical, By Regional Outlook and Forecast, 2024 - 2031

Global Social Media Listening Market Size, Share & Trends Analysis Report By Application, By Solutions (Software and Services), By Vertical, By Regional Outlook and Forecast, 2024 - 2031

The Global Social Media Listening Market size is expected to reach $21.3 billion by 2031, rising at a market growth of 13.7% CAGR during the forecast period.

The North America segment garnered 39% revenue share in this market in 2023. The region's dominance is a result of the pervasive adoption of advanced technologies, the high level of investment in digital marketing by businesses, and the presence of major social media platforms. This has become an essential element of the marketing and customer experience strategies of numerous North American companies. By utilizing insights from social media, these companies have been able to improve customer engagement and promote business growth.

The growing popularity of influencer marketing has transformed how businesses connect with their audiences, and this plays a crucial role in identifying the right influencers for brand collaborations. Companies increasingly use social listening tools to track conversations around relevant topics and find influencers whose values align with their brand image. Hence, the rising use of these tactics is driving the expansion of the market.

Additionally, The shift towards leveraging data analytics has encouraged organizations to move away from instinctual decision-making and instead rely on evidence-based insights to shape their actions. These tools provide a wealth of data from various platforms, such as Facebook, Instagram, Twitter, and TikTok, that companies can analyze to better understand consumer behavior, preferences, and trends. Consequently, the market's expansion is significantly influenced by the increasing prevalence of data-driven decision-making.

However, With rising awareness of personal data misuse, individuals and governments have started scrutinizing how data is collected, processed, and used. A growing number of high-profile data breaches and concerns about the use of data without explicit consent drive this scrutiny. As a result, social media users are increasingly conscious of their privacy rights and are wary of how third-party companies leverage their personal information. Hence, data privacy and security concerns have become one of the most significant barriers to the growth of this market.

Application Outlook

On the basis of application, this market is classified into customer experience management, competitive benchmarking, brand management, marketing campaign management, sales & lead generation, product development & innovation, and others. The customer experience management segment recorded 21% revenue share in this market in 2023. As consumer expectations for personalized and timely interactions continued to rise, businesses relied on them to gather insights into customer feedback and preferences. This data helped companies enhance customer satisfaction by addressing issues proactively, refining services, and ensuring seamless customer journeys across platforms.

Solutions Outlook

Based on solutions, this market is bifurcated into software and services. The services segment procured 37% revenue share in this market in 2023. Many organizations require consulting services to implement, customize, and integrate these solutions properly. Furthermore, ongoing support services, including training and troubleshooting, ensured that businesses could maximize the value of the data generated by these tools.

Vertical Outlook

By vertical, this market is divided into BFSI, healthcare & life sciences, retail & e-commerce, government & defense, travel & hospitality, IT & telecommunications, media & entertainment, and others. The media & entertainment segment procured 17% revenue share in the social media listening market in 2023. Social media listening allowed media companies to track audience reactions to content, measure the success of promotional campaigns, and identify trending topics to produce relevant content. The segment benefitted from the rise in content consumption through digital channels, as companies leveraged social listening to maintain viewership, tailor content to audience interests, and drive social media buzz around entertainment releases.

Regional Outlook

Region-wise, this market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment procured 29% revenue share in the social media listening market in 2023. European businesses have increasingly recognized the importance of understanding consumer sentiment and monitoring brand perception in an environment where data privacy and compliance are critical. The growing focus on customer experience and the regulatory landscape in Europe, such as GDPR, has increased demand for social media listening tools that can provide actionable insights while ensuring data protection and compliance.

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.

List of Key Companies Profiled

• Hootsuite, Inc.
• IBM Corporation
• Runtime Collective Limited (Brandwatch)
• Sprout Social, Inc.
• Buffer, Inc
• Mention
• Synthesio (Ipsos Synthesio, Inc.)
• Brand24 Global Inc.
• Meltwater
• Quid
• Google LLC

Global Social Media Listening Market Report Segmentation

By Application

• Brand Management
• Customer Experience Management
• Marketing Campaign Management
• Sales & Lead Generation
• Competitive Benchmarking
• Product Development & Innovation
• Other Application

By Solutions

• Software
• Services

By Vertical

• Retail & E-commerce
• Media & Entertainment
• BFSI
• Healthcare & Life Sciences
• IT & Telecommunications
• Travel & Hospitality
• Government & Defence
• Other Vertical

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA