Media monitoring is the process of reading, watching, and listening to editorial content of media sources, and then identifying & analysing content. Media monitoring also contains monitoring editorial content of newspapers, trade journals, social media such as twitter, Facebook, blogs, etc. Also, media monitoring tools are used to track reach of news releases, to find information about competitors, and to identify new business opportunities.
Growing digital platforms such as online newspaper & magazines, e-books, and emergence of social media is a key factor driving growth of the global media monitoring tools market. In addition, increasing number of young subscribers on various social media platforms such as Facebook, twitter, LinkedIn, etc., increasing penetration of smart phones, and development in mobile applications are some other factors expected to boost growth of the global media monitoring tools market over the forecast period.
However, issues related to network security is a key factor restraining growth of the global media monitoring tools market. Additionally, continuously increasing databases, and lack of professional workforce are other factors expected to hamper growth of the global media monitoring tools market over the forecast period.
A major and rising trend in the market is increasing use of social media by companies to market and spreading awareness about their newly introduced products and services. This is another factor expected to aid in growth of the global media monitoring tools market over the forecast period.
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The global media monitoring tools market is segmented on the basis of type, end-user, and region. On the basis of region, the global media monitoring tools market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The market in North America is expected to account for highest share in terms of revenue as compared to that of other regions. This can be attributed to increasing penetration of internet, and presence of key market players in countries in the region. The market in Asia Pacific is projected to register highest CAGR over the forecast period, owing to rising awareness about social media marketing, and growing internet usage for reading, watching, and listening editorial content in emerging economies such as China and India.
Prominent players in the global media monitoring tools market include International Business Machines Corporation, HootSuite Media Inc., Cision Ltd., Meltwater News US Inc., Agility PR Solutions Ltd., Trendkite, Inc., Critical Mention, Inc., BurrellesLuce, Inc., Mention Solutions SAS, and M-Brain Oy.