Global Social Media Marketing Market By Application (Sales & Marketing Management, Customer Experience Management, Competitive Intelligence, And Risk Management), By End User (Automotive, Healthcare, Media & Entertainment, And Manufacturing), and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Social Media Marketing Market size is expected to grow over USD 65.7 billion, at 33.70% CAGR during the forecast period.Social Media Marketing is basically the use of social networking platforms to promote a product or a service. It is also known as digital marketing or email marketing. Social media sites have built-in data analytics tools, which enables the companies to track the progress. Using the social media marketing, companies offer user generated content such as online comments, product reviews, and others to earn revenues. Digital marketing also includes the management of a marketing campaign and governance.  With the advent of internet and mobile phones, social networking websites have witnessed a striking growth. It is easy to access, allow individuals, businesses and other organizations to interact and build relationships and communities online. These are highly beneficial and time saving compared to the traditional methods of outbound marketing and advertising. The Internet's ability to reach billions of people has created a global position for the social media market. Additionally, the demand for cloud social media marketing solutions is anticipated to impact the market positively. This is largely attributed to adoption of social media and huge volumes of data transfers across industries, such as retail & ecommerce, government and public sector, and manufacturing.

Market Segmentation:

Based on application, the social media marketing market is classified into sales & marketing management, customer experience management, competitive intelligence, and risk management. By end-user, the market is segmented into automotive, healthcare, media & entertainment, and manufacturing. And based on region, the social media marketing market is categorised into North America, Europe, Asia Pacific, and RoW.

Market Dynamics and Factors:

Increased use of mobile phones globally, technological advancements, and growing demand of market intelligence is driving the social media marketing market. Increasing activities such as tracking competitors’ activities and auditing conversation between a company and its competitors’ customers on social media platforms are propelling the market to grow. Social media platforms can provide a wide variety of information, experiences, interests, and perceptions of customers. Rise of medium-sized organizations which depend on the artificial intelligence, IoT (Internet of Things), social media and cloud services, is demanding the need for marketing & managing these digital assets. Investments in social media marketing, advertising, and selling activities to promote brands, is anticipated to fuel the market growth in the forthcoming years. Complicated implementation such as cloud deployment, advanced setup, and operational & maintenance charges, are the factors hampering the social media marketing market growth. However, rapid digitalisation, advanced management strategies, customer inclination, coupled with the ease of use of social media is likely to bring in more opportunities in the near future. In addition to this, increasing demand of high speed data transfer, especially in military, healthcare, and media & communication sector is anticipated to boost the social media marketing market growth.

Geographic Analysis:

Asia pacific is currently dominating the market with the largest social media marketing market share in terms of revenue and is also anticipated to record the highest growth rate during the forecast period. This is attributed to large number of internet users, growing cloud adoption and vendor expansion which are driving the social media marketing market in the region. High speed 4G connectivity and government tie-ups to introduce 5G have enables North America to adopt advanced solutions and establish strong connections with a large customer base. Europe is majorly focusing on innovating and updating the existing platforms to consolidate their presence in the market. MEA are also forecasted to show significant growth owing to increasing investments and technological advancements across the retail and ecommerce industry vertical and expanding base of internet subscribers.

Competitive Scenario:

Major players operating in the social media marketing industry include Amazon, Yahoo Inc., Facebook Inc., IAC Co., Baidu internet Services Company, Google, Twitter Inc., Microsoft, Qzone Corporation, and LinkedIn Corporation.

Social Media Marketing Market Report Scope