Technavios research analyst predicts the global social media IT spending market to grow at a CAGR of 22% during the forecast period. The rise in the advertisement spending over social media platforms is one of the primary growth drivers for this market. Software companies such as Salesforce and HubSpot are shifting their focus towards marketers and chief marketing officers (CMOs) because many companies are set to spend the majority of the marketing spending over social media platforms such as Facebook, Instagram, Snapchat, and Twitter.
Technavio also emphasizes the evolution of social media and advances in digital marketing and SEO techniques, which is a major factor driving market growth, that have altogether changed the way buyers seek products and services. This development has revolutionized the way businesses generate sales leads and thus inspiring content and application providers to make huge investments in setting up and running data centers on a large scale.
Product segmentation and analysis of the social media IT spending market
Hardware Software IT services In 2014, hardware spending segment held the largest market share, which accounted for more than 54% share of the overall market. Most of the companies are investing in integrated infrastructure to enhance the service delivery platform, security, and compliance control while offering value-added services associated with cloud-based technology.
Geographical segmentation of the social media IT spending market
Americas APAC EMEA The global social media IT spending market was dominated by the Americas in 2014, accounting for over 52% of the market share, which is triggered by the traction toward converged infrastructure among large and medium social media platforms, related to data hosting.
Competitive landscape and key vendors
The global social media IT spending market is dominated by the hardware suppliers. These vendors are taking up joint ventures and strategic partnerships to innovate and reinforce their position in the market. However, the market also marks the presence of some prominent vendors who are undertaking partnerships with big MNCs to provide server, storage, and networking components for converged infrastructure.
The leading vendors in the market are -
IBM HP Oracle Dell Cisco Salesforce HubSpot Other prominent vendors in the market include Unmetric, Kenshoo Social, Tencent Holdings, Oracle, Akamai Technologies, Adobe, VMware, Google Analytics, SAS, Virtue (Oracle), SAP, Microsoft, VCE, EMC, Juniper Networks, and NetApp.
Key questions answered in the report include
What will the market size and the growth rate be in 2019 What are the key factors driving the global social media IT spending market What are the key market trends impacting the growth of the global social media IT spending market What are the challenges to market growth Who are the key vendors in the global social media IT spending market What are the market opportunities and threats faced by the vendors in the global social media IT spending market Trending factors influencing the market shares of the Americas, APAC, and EMEA. What are the key outcomes of the five forces analysis of the global social media IT spending market Technavio also offers customization on reports based on specific client requirement.
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Technavio Announces the Publication of its Research Report Global Social Media IT Spending 2015-2019 Technavio recognizes the following companies as the key players in the Global Social Media IT Spending: IBM, HP, Oracle, Dell, Cisco, Salesforce and HubSpot Other Prominent Vendors in the market are: Unmetric, Kenshoo Social, Tencent Holdings, Oracle, Akamai Technologies, Adobe, VMware, Google Analytics, SAS, Virtue (Oracle), SAP, Microsoft, VCE, EMC, Juniper Networks, and NetApp. Commenting on the report, an analyst from Technavios team said: The evolution of social media and advances in digital marketing and SEO techniques have changed the way buyers seek products and services. This has changed the way businesses generate sales leads. Some sales acceleration technologies are integrated with existing social media BI software that monitor the customers' patterns of purchasing products and helps companies understand new market requirements. According to the report, vendors in the market are prioritizing the product development investment that drives the user engagement. 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. Further, the report states that social-based applications generate a much greater volume of data than most organizations know how to manage. Companies can only avoid issues such as large data volumes or information overload if they are able to discern valuable information from that data.