- The key vendors in the global social media IT spending market 2015-2019 are Cisco, Dell, HP, IBM, HubSpot, Oracle and Salesforce.com.
London, 16 November 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global social media IT spending market 2015-2019. Organizations are heavily investing in social media BI tools to gain insights on the customers with the launch of new products. This has prompted vendors to offer social media integrated software, which helps companies to automate the marketing process such as email marketing, which itself involves the creation, analytics, and delivery of messages. The global social media IT spending market is expected to grow at a CAGR of 22.2% during the forecast period of 2014-2019.
With the increase in mobility and web-based applications, social media platforms are developing a shared computing environment where a lot of niche players are seeking cloud-based hosted services. The adoption of the cloud-based managed services model is growing rapidly. Benefits such as streamlined operations, ease of installation, reduced cost, and low burden on internal staff has prompted companies to opt for cloud-based hosted services.
“Social media companies such as Facebook, Google, and Twitter are significantly investing in improving their existing products including timeline algorithms, newsfeed, graph search, and standalone mobile applications such as messenger,” says Faisal Ghaus, Vice President of Technavio Research.
“Most of the social websites earn their bigger chunk of revenue from the advertisement, hence it has become necessary to improve the ability to organize and analyze vital information in real time to enable companies to create unique content that is interesting to show to users.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Social Media IT Spending Market 2015-2019, please send an e-mail to media@TechNavio.com
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