Market Overview:
The global social media IT spending market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing adoption of social media by businesses for marketing and communication purposes, and the rising demand for cloud-based solutions. In terms of type, the hardware segment is expected to account for the largest share of the global social media IT spending market in 2018, followed by software and services. By application, public sector is expected to account for the largest share of global social media IT spending in 2018, followed by BFSI, telecom and media, retail/wholesale and others segments.
Product Definition:
Social media IT spending is the allocation of resources to enable or improve social media interactions within an organization. This includes the acquisition and implementation of software, services, and hardware that support social media interactions. The importance of social media IT spending is that it allows organizations to better connect with their customers and employees through various social channels. It can also help improve communication and collaboration among employees, as well as provide insights into customer behavior.
Hardware:
Hardware is the physical devices and tools that are used to carry out a particular task. In social media it spending, hardware includes computer systems such as desktops, laptops, servers and tablets; communication devices such as smartphones & internet service providers (ISP) equipment; storage devices including external hard-drive storage units & cloud computing equipment. Hardware has been witnessing high growth over the last five years owing to its increased demand in data centers for storing information on account of growing web traffic.
Software:
Software is any tool or a collection of tools that can be used to carry out an intended action. In the case of social media, software is used for various actions such as scheduling posts, monitoring and analytics, content creation and curation, automation of tasks like reposting or liking etc., creating accounts for users and so on.
Application Insights:
The public sector was the largest application segment in 2016 and will continue to be so over the forecast period. The growing use of social media platforms by governments for various purposes, such as communication with citizens, engagement with political parties and candidates, monitoring & tracking criminal activities through hashtags is expected to drive demand. Furthermore, constant efforts made by government organizations in order to reach out directly to citizens through social media channels without the intervention of third parties is likely to positively influence market growth.
The BFSI sector has been one of the prominent adopters of technology due largely its ability provide cost-effective solutions while improving customer experience significantly across all channels. Social media has become an essential tool for banks and other financial institutions offering online banking services allowing customers access from any device at any time. This factor along with others such as increasing adoption among consumers are expected fuel industry growth over next few years.
Regional Analysis:
North America dominated the global market in 2017. The growth of social media is a major factor for the dominance of this region. Presence of key players such as Facebook Inc.; Twitter, Inc.; and Alphabet, Google LLC; has fueled the growth in this region. These companies are actively investing in new technologies to expand their businesses globally.
Asia Pacific is expected to be one of the fastest growing regions over the forecast period owing to increasing internet penetration and rising smartphone adoption rate especially among millennials and Generation Z population groups across countries such as China.
Growth Factors:
- Increased use of social media by businesses for marketing and customer service purposes.
- Social media platforms becoming more sophisticated, with new features being added regularly.
- Growing number of people using social media – especially millennials who are increasingly important to businesses.
- Increasing importance of social media in search engine results pages (SERPs).
- Social media analytics becoming more important for understanding how customers interact with brands online
Scope Of The Report
Report Attributes
Report Details
Report Title
Social Media IT Spending Market Research Report
By Type
Hardware, Software, IT Services
By Application
Public Sector, BFSI, Telecom and Media, Retail/Wholesale, Others
By Companies
IBM, HP, Oracle, Dell EMC, Cisco, Salesforce, HubSpot, Unmetric, Kenshoo Social, Tencent Holdings, Akamai Technologies, Adobe, VMware, Google Analytics, SAS, SAP, Microsoft, VCE, Juniper Networks, NetApp
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
149
Number of Tables & Figures
105
Customization Available
Yes, the report can be customized as per your need.
Global Social Media IT Spending Market Report Segments:
The global Social Media IT Spending market is segmented on the basis of:
Types
Hardware, Software, IT Services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Public Sector, BFSI, Telecom and Media, Retail/Wholesale, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- IBM
- HP
- Oracle
- Dell EMC
- Cisco
- Salesforce
- HubSpot
- Unmetric
- Kenshoo Social
- Tencent Holdings
- Akamai Technologies
- Adobe
- VMware
- Google Analytics
- SAS
- SAP
- Microsoft
- VCE
- Juniper Networks
- NetApp
Highlights of The Social Media IT Spending Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hardware
- Software
- IT Services
- By Application:
- Public Sector
- BFSI
- Telecom and Media
- Retail/Wholesale
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Social Media IT Spending Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Social media IT spending is the total amount of money that businesses spend on technology to manage their social media accounts. This includes everything from hiring a dedicated social media manager to purchasing software that helps manage and monitor social media accounts.
Some of the major companies in the social media it spending market are IBM, HP, Oracle, Dell EMC, Cisco, Salesforce, HubSpot, Unmetric, Kenshoo Social, Tencent Holdings, Akamai Technologies, Adobe, VMware, Google Analytics, SAS, SAP, Microsoft, VCE, Juniper Networks, NetApp.
The social media it spending market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Social Media IT Spending Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Social Media IT Spending Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Social Media IT Spending Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Social Media IT Spending Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Social Media IT Spending Market Size & Forecast, 2020-2028
4.5.1 Social Media IT Spending Market Size and Y-o-Y Growth
4.5.2 Social Media IT Spending Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Hardware
5.2.2 Software
5.2.3 IT Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Public Sector
6.2.2 BFSI
6.2.3 Telecom and Media
6.2.4 Retail/Wholesale
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Social Media IT Spending Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Social Media IT Spending Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Hardware
9.6.2 Software
9.6.3 IT Services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Public Sector
9.10.2 BFSI
9.10.3 Telecom and Media
9.10.4 Retail/Wholesale
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Hardware
10.6.2 Software
10.6.3 IT Services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Public Sector
10.10.2 BFSI
10.10.3 Telecom and Media
10.10.4 Retail/Wholesale
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Hardware
11.6.2 Software
11.6.3 IT Services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Public Sector
11.10.2 BFSI
11.10.3 Telecom and Media
11.10.4 Retail/Wholesale
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Hardware
12.6.2 Software
12.6.3 IT Services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Public Sector
12.10.2 BFSI
12.10.3 Telecom and Media
12.10.4 Retail/Wholesale
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Hardware
13.6.2 Software
13.6.3 IT Services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Public Sector
13.10.2 BFSI
13.10.3 Telecom and Media
13.10.4 Retail/Wholesale
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Social Media IT Spending Market: Competitive Dashboard
14.2 Global Social Media IT Spending Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IBM
14.3.2 HP
14.3.3 Oracle
14.3.4 Dell EMC
14.3.5 Cisco
14.3.6 Salesforce
14.3.7 HubSpot
14.3.8 Unmetric
14.3.9 Kenshoo Social
14.3.10 Tencent Holdings
14.3.11 Akamai Technologies
14.3.12 Adobe
14.3.13 VMware
14.3.14 Google Analytics
14.3.15 SAS
14.3.16 SAP
14.3.17 Microsoft
14.3.18 VCE
14.3.19 Juniper Networks
14.3.20 NetApp
