Report : South America 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 22.0% CAGR, the South America Social Media Management Market is speculated to be worth US$ 1529.9 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the South America Social Media Management Market was valued at US$ 463.7 million in 2022 and is expected to reach US$ 1529.9 million by 2028, registering an annual growth rate of 22.0% from 2022 to 2028.Continuous improvements in internet technology and growing demand for social media management among smes are the critical factors attributed to the market expansion.
The world is abuzz with news of 5G, which is the next step in cellular network technology. As 5G provides consumers with a faster connection and is more affordable, people will lose less time waiting for videos to load and buffer. Further, mobile will surpass broadband and Wi-Fi as the popular means of video consumption. Ultimately, social media marketers will have to consider audiovisual content as a central component of a digital media marketing strategy. For the individual, social media will continue to be the beating heart of marketing, personal branding, and networking online, but in more ways than before. 5G will revolutionize how people connect, impacting how brands connect with their consumers. 5G network will create unprecedented data as more devices connect to the internet, and big data revolutionize social media. High amounts of data mean an opportunity for hyper-personalized advertising as marketers would be able to micro-segment their target audience and subsequently understand them better. Hence, 5G technology in social media management will create future trends for the market players in terms of better customer reach and customer experience.
On the contrary, challenges faced in issues data privacy concerns with social media hurdles the growth of the South America social media management market.
Based on component, the South America social media management market is bifurcated into solution and service. The solution held 75.2% market share in 2022, amassing US$ 348.52 million. It is projected to garner US$ 1182.47 million by 2028 to expand at 22.6% CAGR during 2022–2028.
Based on deployment, the South America Social Media Management market is bifurcated into cloud based and on-premise. The cloud based held 58.3% market share in 2022, amassing US$ 270.14 million. It is projected to garner US$ 926.76 million by 2028 to expand at 22.8% CAGR during 2022–2028.
Based on enterprise size, the South America social media management market is bifurcated into small and medium enterprises (smes) and large enterprises. The large enterprises held 75.1% market share in 2022, amassing US$ 348.13 million. It is projected to garner US$ 1104.42 million by 2028 to expand at 21.2% CAGR during 2022–2028.
Based on application, the South America 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 36.2% market share in 2022, amassing US$ 167.98 million. It is projected to garner US$ 495.95 million by 2028 to expand at 19.8% CAGR during 2022–2028.
Based on vertical, the South America social media management market is segmented into BFSI, retail, healthcare, it and telecommunications, media and entertainment, and others. The BFSI held 27.9% market share in 2022, amassing US$ 129.50 million. It is projected to garner US$ 414.80 million by 2028 to expand at 21.4% CAGR during 2022–2028.
Based on country, the South America Social Media Management market has been categorized into the Brazil, Argentina, and Rest of SAM. Our regional analysis states that Brazil captured 70.7% market share in 2022. It was assessed at US$ 327.8 million in 2022 and is likely to hit US$ 1115.2 million by 2028, exhibiting a CAGR of 22.6% during the forecast period.
The key companies operating in the South America 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 South America social media management market, among others.
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