Social Media IT Spending Market Scope
The percentage of total media ad spending on digital ads is increasing year over year. According to a study it has been found that approx. 52% of marketers will spend a minimum of half their annual marketing budget on social media ads. Social media has key advantages over traditional media, including first-party data about the users for ad targeting. Many social media platforms even have expanded their appeal among local businesses by giving them advanced tools to make hyperlocalized or geotargeted campaigns aimed toward their presumably customers. The growth rate of social media companies varies by company, with younger platforms tending to point out the fastest increases in ad revenue. The growth rate of social media companies varies by company, with younger platforms tending to point out the fastest increases in ad revenue.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM (United States), HP (United States), Oracle (United States), Dell EMC (United States), Cisco (United States), Salesforce (United States), HubSpot (United States), Kenshoo Social (United States), Tencent Holdings (China), Akamai Technologies (United States), Adobe (United States), VMware (United States), Google Analytics (United States), SAP (Germany), Juniper Networks (United States) and NetApp (United States) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Social Media IT Spending market throughout the predicted period.
IBM (United States), HP (United States), Oracle (United States), Dell EMC (United States), Cisco (United States), Salesforce (United States), HubSpot (United States), Kenshoo Social (United States), Tencent Holdings (China), Akamai Technologies (United States), Adobe (United States), VMware (United States), Google Analytics (United States), SAP (Germany), Juniper Networks (United States) and NetApp (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Social Media IT Spending market by Type , by Application (Social Network Ad and Digital Ad) and Region with country level break-up.
On the basis of geography, the market of Social Media IT Spending has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
On 27th July 2021 - HP Inc. has announced a definitive agreement to acquire Teradici Corporation, a global innovator in remote computing software that enables users to securely access high-performance computing from any PC, Chromebook, or tablet. The acquisition will enhance HP’s capabilities in the Personal Systems category by delivering new compute models and services tailored for hybrid work.
On 8th Oct 2020 - IBM has announced that it will accelerate its hybrid cloud growth strategy to drive digital transformations for its clients. Additionally, IBM will separate the Managed Infrastructure Services unit of its Global Technology Services division into a new public company ("NewCo").
Influencing Trend:
Investments into Social Pay Off and Marketers are Deploying an Average of Five Technology Solutions to Buy Digital Media
Market Growth Drivers:
Social platforms have made it increasingly turnkey to target high-value customers and Significant Portion of Most e-Commerce Social ad Spend
Challenges:
Impact Imminent Browser Changes Like ITP 2.2 and Reduce face-to-face communication
Restraints:
Fake News and Hacking social media
Opportunities:
Opportunities For Brands to Reach Specific, High-Intent Audience Segments
Key Target Audience
Software Providers, Media & Entertainment Industry, IT Service Providers, Research Firms and Others