Report : North America PR Analytics Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Deployment (On-Premise and Cloud-Based) and Organization Size (Small and Medium Enterprises and Large Enterprises)
Cloud-Based Segment to Dominate North America PR Analytics Software Market during 2020–2028
According to a new market research study on “North America PR Analytics Software Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Deployment and Organization Size” is expected to reach US$ 3,130.55 million by 2028 from 1,678.31 US$ million in 2021. The market is estimated to grow at a CAGR of 9.3% from 2021 to 2028. The report provides trends prevailing in the North America PR analytics software market along with the drivers and restraints pertaining to the market growth. Growing usage of digital communications is the major factor driving the growth of the North America PR analytics software market. However, risk involved in public relation promotions hinders the growth of North America PR analytics software market.
North America PR analytics software market is segmented into deployment, organization size, and country. Based on deployment, the North America PR analytics software software market is bifurcated into cloud-based and on-premise. In 2020, the cloud-based segment accounted for a larger share in the market. Based on enterprise size, the North America PR analytics software software markets is bifurcated into small & medium enterprises and large enterprises. In 2020, the large enterprises segment accounted for a larger share in the market. Based on country, the North America PR analytics software market is segmented into US, Canada, and Mexico. US held the largest market share in 2020.
North America is one of the most critical regions for the uptake and development of new technologies due to favorable government policies to boost innovation, the presence of a robust industrial base, and high purchasing power, especially in developed countries, such as the US and Canada. In 2020, the COVID-19 outbreak had negatively affected the PR analytics software software market in the North America due to the company budget cut. The low growth is mainly due to economic slowdown across countries due to the COVID-19 outbreak and its measures. Many companies are not investing in organizing campaigns or in a new advertisement. Therefore, the PR industry is negatively affected in the region during the pandemic. In 2021, however, digital PR communications have been helping the PR agencies. Organizations are focusing on new advertisements and gaining insights in consumer preferences. The PR industry in this region is expected to witness robust expansion in the coming years, which is likely to reflect on the North America PR analytics software software market.
Agility PR Solutions LLC; Cision US Inc.; Critical Mention, Inc; Meltwater; Muck Rack; Newswire; Onclusive, Inc; and TVEyes Inc are among the leading companies in the North America PR analytics software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Innodata Inc. (NASDAQ: INOD) has announced that its subsidiary, Agility PR Solutions, has been recognized by software review site G2 as a leading PR services supplier. Agility is a Momentum Leader in the Media Monitoring category, a Leader in the Media and Influencer category, and a High Performer in the PR analytics software category, according to G2's Spring 2021 report.
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