According to our new research study, titled "Social Media Management Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Deployment, Enterprise Size, Application, Vertical, and Geography," the market is projected to reach US$ 63,747.4 million by 2028 from US$ 17,315.0 million in 2022; it is estimated to grow at a CAGR of 24.3% from 2022 to 2028.

Social media management includes tracking customer activity on social media, which helps an organization plan strategy and gain insights. In addition, it allows companies to track competitors' actions. Further, social media management platforms help users with various information about social media users, including their perceptions, expectations, and needs. Handling and managing social media also include engaging and interacting with social media users. Social media management functions as a platform for interacting with a target audience and spreading content across social media channels such as Instagram, Facebook, LinkedIn, YouTube, and Pinterest. Social media management will offer new opportunities for companies to increase their reach and visibility.

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Social media management includes tracking customer activity on social media, which helps an organization plan strategy and gain insights. In addition, it allows companies to track competitors' actions. Further, social media management platforms help users with various information about social media users, including their perceptions, expectations, and needs.

Adobe; IBM Corporation; Google LLC; Oracle Corporation; and Salesforce.com, Inc. are the five key market players operating in the global social media management market. The social media management market is highly fragmented and competitive due to occurrence of huge number of small scale and medium scale manufacturers in both developed and developing economies. The top 5 market players are majorly focusing on various organic and inorganic growth strategies to survive in the social media management market. Such as, innovation of new technologies to offer enhanced product portfolios to the customers, merger and acquisitions, and expansion strategies.

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