Report : Asia Pacific Social Media Management Market Forecast to 2028 – COVID-19 Impact and Regional Analysis- by Component (Solution and Service), Deployment (On-Premise and Cloud-based), Enterprise Size [Small and Medium Enterprises (SMEs) and Large Enterprises], Application (Sales and
At 26.0%CAGR, the Asia Pacific Social Media Management Market is speculated to be worth US$ 16128.1million by 2028, says Business Market Insights
According to Business Market Insights’ research, The Asia Pacific Social Media Management Market was valued at US$ 4034.4 million in 2022 and is expected to reach US$ 16128.1million by 2028, registering an annual growth rate of 26.0% from 2022 to 2028. Growing demand for social media management among smes and continuous improvements in internet technology are the critical factors attributed to the market expansion.
The use of social media management is increasingly adopted by small and medium enterprises (SMEs) due to the growing number of SMEs and shifting focus toward online marketing, such as social media marketing. Interacting with consumers on social media is an important marketing strategy for small businesses. Using social media helps a company build brand awareness, increase the company’s customer base, and connect with current customers. Marketing through social media is easy for small business owners as long as the company actively posts on social media pages, and it is a cost-effective marketing approach. Common social media sites include Facebook, Instagram, Twitter, LinkedIn, and Pinterest. Further, the number of startups is increasing across the region. Therefore, the rising number of SMEs across the region and shifting focus towards online marketing for small businesses will create a huge opportunity for the APAC social media management market players for business expansion activities.
On the contrary, challenges faced in issues data privacy concerns with social media hurdles the growth of the Asia Pacific social media management market.
Based on component, the Asia Pacific social media management market is bifurcated into solution and service. The solution held 73.5% market share in 2022, amassing US$ 2967.14 million. It is projected to garner US$ 12117.52 million by 2028 to expand at 26.4% CAGR during 2022–2028.
Based on deployment, the Asia Pacific social media management market is bifurcated into cloud based and on-premise. The cloud based held 66.3% market share in 2022, amassing US$ 2675.52 million. It is projected to garner US$ 10936.51 million by 2028 to expand at 26.4% CAGR during 2022–2028.
Based on enterprise size, the Asia Pacific social media management market is bifurcated into small and medium enterprises (smes) and large enterprises. The large enterprises held 68.1% market share in 2022, amassing US$ 2746.20 million. It is projected to garner US$ 10528.19 million by 2028 to expand at 25.1% CAGR during 2022–2028.
Based on application, the Asia Pacific social media management market is segmented into sales and marketing management, customer experience management, competitive intelligence, and risk management and fraud detection. The sales and marketing management held 34.3% market share in 2022, amassing US$ 1384.27 million. It is projected to garner US$ 5130.63 million by 2028 to expand at 24.4% CAGR during 2022–2028.
Based on vertical, the Asia Pacific social media management market is segmented into BFSI, retail, healthcare, it and telecommunications, media and entertainment, and others. The BFSI held 24.3% market share in 2022, amassing US$ 982.36 million. It is projected to garner US$ 3804.59 million by 2028 to expand at 25.3% CAGR during 2022–2028.
Based on country, the Asia Pacific Social Media Management market has been categorized into the China, Japan, India, Australia, South Korea, and Rest of Asia Pacific. Our regional analysis states that China captured 31.6% market share in 2022. It was assessed at US$ 1274.9 million in 2022 and is likely to hit US$ 5225.5 million by 2028, exhibiting a CAGR of 26.5% during the forecast period.
The key companies operating in the Asia Pacific social media management market include Adobe; IBM Corporation; Google LLC; Oracle Corporation; Salesforce.com, Inc.; HubSpot, Inc.; Zoho Corporation Pvt. Ltd.; Meltwater; Brandwatch; and Sprout Social, Inc. Several companies are functioning in the market and are contributing substantial revenues toward the growth of the Asia Pacific social media management market, among others.
Contact Us
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: sam@businessmarketinsights.com