Social business applications: Key market research findings
- Increase in the usage of analytical tools
- Growing importance of digital asset management
Technavio has added a new market research report on the global social business application market, which is expected to generate revenue worth $23 billion between 2015 and 2019. The growth of the market can be attributed to the increasing usage of social media platforms as a source of revenue among enterprises. The Americas is the largest contributor to the global social business application market, accounting for around 53% of the overall market share. The growing usage of social media, consumerization of IT in enterprises, and the shift in consumer preference toward digital media is driving the growth in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Enterprises are increasingly investing in big data tools, and predictive tools to obtain such insights as this information helps CMOs to take informative decisions. The market is witnessing a huge demand for social media analytics tools that are used to gather insights from social marketing efforts and reach out to a larger customer base. Some of the popular social media open-source analytics tools are Google social analytics, SumAll, Facebook insights, and Twitter Analytics,” says Navin Rajendra, Lead Analyst, ICT, Technavio Research
Digital asset management has become a significant part of social businesses, and this segment is growing at a promising rate. Deployment of digital asset management tools offer a repository of rich media content that can be used and reused. It offers its own stock photo collection, providing imagery for use in blog posts. Also, with the use of digital asset management tools, companies can track where content has been shared and where other data resides, such as metadata fields and features that allow companies to share content and track status on social media.
The leading vendors in the global social business application market are Adobe, Oracle, Salesforce.com, and Hootsuite. The market is highly fragmented where the key players are expanding their portfolios through various M&As. Intense competition prevails in this market which encourages vendors to innovate their products from time to time.
A more detailed analysis is available in the Technavio report Global Social Business Application market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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