North America Social Media Management Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Component, Deployment, Enterprise Size Application, and Vertical

The North America social media management market is expected to reach US$ 25562.7 million by 2028 from US$ 6874.1 million in 2022; it is estimated to grow at a CAGR of 24.5%from 2022 to 2028.

The competition continues to affect business profit margins, and companies are constantly looking for technological solutions to maximize their productivity and reduce costs while maintaining an edge in the competition. Businesses need to integrate demographic, competitive, and business information and customer data to discover the intricacies of outperforming their competitors. Organizations focus on analyzing sales and various marketing aspects to identify gaps.

They demand lower prices, better quality, and faster delivery of products and services. Thus, advanced social media analytics is being incorporated to help achieve market goals. Therefore, social media management solutions help analyze unstructured social data to respond to dynamic market conditions and achieve high sales and operational profitability. For instance, in June 2022, Google Marketing Platform introduced Ads Creative Studio, a unified solution to create an advertisement that allows for building compelling experiences for audio, display, and video ads. Ads creative studio enables customers to develop and innovate advertisements with an interactive, easy-to-use user interface.

Further, organizations retrieve huge amounts of information about customer sentiments about their brands and strategize their marketing and sales activities. In addition, businesses use social media management solutions to enhance their market presence and gain a competitive edge by analyzing the competition and consumer behavior from social media platforms. Thus, this results in the rise of the use of social media management solutions for businesses, which, in turn, supports the North America social media management market. Therefore, the market is expected to grow at a promising CAGR during the forecast period.

North America Social Media Management Market Segmentation

The North America social media management market is segmented based on component, deployment, organization size, application, vertical, and country.

• Based on component, the market is bifurcated into solutions and services. The solution segment led the market with a higher market share in 2022.
• Based on deployment, the market is bifurcated into cloud-based and on-premise. The cloud-based segment led the market with a higher market share in 2022.
• Based on organization size, the market is bifurcated into SMEs and large enterprises. The large enterprises segment led the market with a higher market share in 2022.
• Based on application, the market is segmented into sales and marketing management, customer experience management, competitive intelligence, and risk management and fraud detection. The sales and marketing management segment had the highest market share in 2022.
• Based on vertical, the market is segmented into BFSI, retail, healthcare, IT and telecommunications, media and entertainment, and others. The BFSI segment led the market with the highest market share in 2022.

Based on Country, the market is segmented into the US, Canada, and Mexico. The US led the market with the highest market share in 2022.
The key companies operating in the North America social media management market are Adobe; IBM Corporation; Google LLC; Oracle Corporation; Salesforce.com, Inc.; HubSpot, Inc.; Zoho Corporation Pvt. Ltd.; Meltwater; Brandwatch; and Sprout Social, Inc. These companies are functioning in the market and are contributing substantial revenues to the North America social media management market.