PR Analytics Software Market Size Value Growth & Outlook 2028

PR Analytics Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment (On-Premise and Cloud-Based) and Organization Size (Small and Medium Enterprises and Large Enterprises)

  • Report Code : TIPRE00023888
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 130
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The PR analytics software market is expected to grow from US$ 3,696.72 million in 2021 to US$ 7,114.89 million by 2028; it is estimated to grow at a CAGR of 9.8% during 2021–2028.

Public relations (PR) analytics software is a tool used by organizations to measure the efficacy of PR campaigns. PR teams utilize this data to evaluate specific actions' reach and advise future public relations initiatives. Other public relations tools, such as press release distribution software, media and influencer targeting software, and media monitoring software, are frequently used with PR analytics software. Increasing adoption of digital marketing across numerous industries drives the growth of the PR analytics software market. However, the lack of understanding regarding URL shortening platforms hinders the market growth. Meanwhile, the importance of maintaining a credible brand image in the marketplace is expected to fuel the PR analytics software market growth in the coming years.

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PR Analytics Software Market: Strategic Insights

pr-analytics-software-market
Market Size Value inUS$ 3,696.72 million in 2021
Market Size Value byUS$ 7,114.89 million by 2028
Growth rateCAGR of 9.8% from 2021 to 2028
Forecast Period2021-2028
Base Year2021
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Impact of COVID-19 Pandemic on PR Analytics Software Market

The COVID-19 pandemic has been affecting many businesses globally. The continuous growth in the number of virus-infected patients compelled governments to put a bar on the transportation of humans and goods due to travel bans, mass lockdowns, and business shutdowns. The lockdown imposition has led to the lesser production of commodities, goods, and services. The manufacturing, automotive, semiconductor & electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities.

During the pandemic, the COVID-19 outbreak had created uncertainty, stress, and emotional disruption worldwide. Businesses and organizations struggle to provide their stakeholders with the appropriate set of resources to overcome the current crisis. Therefore, during a crisis, effective communication is essential. However, seeing how the world has never seen a crisis quite like this one in the past, leaders and communicators are struggling to design a crisis communication plan that connects with employees, communities, and other stakeholders. Although many PR agencies have had a harsh year, in-house PR teams have been proving their worth; working around the clock, adjusting messaging, giving interviews, writing crisis communications plans, and keeping customers at ease. Especially in the first couple of months after the outbreak of COVID-19, PR teams have been vital for businesses.

Lucrative Regions for PR Analytics Software Providers

 

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

PR Analytics Software Market Insights

Effective Use of Online and Social Media Communications Fuels Growth of PR Analytics Software Market

Nowadays, with digital world of communications, it is important that businesses possess a strong online presence to stand out among their competitors. More customers are increasingly turning to the online platform to do their research before deciding. Online PR has become highly important in generating leads, building brand relationships with blogs & social media, and attracting new talent. Thus, organizations should adopt social media platforms and other digital channels to achieve their communication objectives. Further, several businesses are looking to interact with their target audience online. Online PR agencies combine the best of traditional PR, focusing on new trends in content marketing and social media marketing. Social media helps in gathering a better amount of data. In addition, most companies are looking for this online and social media communications approach. For instance, in July 2020, the top earned media platform released the media contact database by Critical Mention, Inc. When paired with radio, social media, and online news monitoring, the new launch is one of the company's most significant tools allowing customers to use a formidable earned media suite.

The advancement in technology has brought immense growth in public relations tools. Online platforms and social media are heavily exploited as public relations tools and therefore boosting the market growth. The demand for such tools is increasing as these are helping in the marketing campaigns of multiple organizations. Therefore, with the use of social media platforms, companies can organize low-cost campaigns and get more information for analytics purposes. Therefore, the demand for PR Analytics Software will increase with the growing use of online and social media platforms.

Deployment-Based Market Insights

Based on deployment, the global PR analytics software market is bifurcated into cloud-based and on-premise. In 2020, the cloud-based segment accounted for a larger share in the market.

PR Analytics Software Market, by Deployment, 2020 and 2028 (%)

 

technology-media-and-telecomunications
PR Analytics Software Market, by Deployment, 2020 and 2028 (%)
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Organization Size-Based Market Insights

Based on enterprise size, the PR analytics software markets is bifurcated into small & medium enterprises and large enterprises. In 2020, the large enterprises segment accounted for a larger share in the market.

The players operating in the PR analytics software market are adopting strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the PR analytics software market. A few developments by key players are listed below:
  • In April 2021, Innodata Inc. announced that its subsidiary, Agility PR Solutions, has been recognized by software review site G2 as a leading PR services supplier. Agility is a momentum leader in the media monitoring category, media and influencer category, and a high performer in the PR analytics category, according to G2's Spring 2021 report.
  • In November 2021, Critical Mention, a top earned media platform, announced a new relationship with Podchaser that will improve the service's podcast monitoring capabilities. Brands can effectively track and quantify the impact of brand mentions across podcasting thanks to the integration of Podchaser data.

The global PR Analytics Software market has been segmented as mentioned below:

By Deployment

  • Cloud-Based
  • On-Premise

By Organization Size

  • Small and Medium Enterprises
  • Large Enterprises

By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America (SAM)
    • Brazil
    • Argentina
    • Rest of SAM

Company Profiles

  • Prezly
  • Agility PR Solutions LLC
  • Critical Mention, Inc
  • Meltwater
  • Muck Rack
  • Onclusive, Inc
  • Prowly
  • TVEyes Inc
  • CISION US INC.
  • Newswire
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Deployment and Organization Size

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Which region is leading the PR Analytics Software market in 2020?

North America is the largest revenue generator in the PR Analytics Software market compared to the other regions. The North America PR analytics software market is primarily spread across the US, Canada, and Mexico. The public relations (PR) industry has experienced volatility. With an evolving digital media landscape, clients have shifted their budgets from traditional mass media, such as TV, print, and radio, toward more below-the-line or niche-focused strategies to reach targeted audience groups. Consequently, industry operators have focused on social media platforms, including Facebook, Twitter, YouTube, Instagram, and blogs, as areas of growth for public relations campaigns. In addition to fragmented consumer segments, these strategies enable clients to measure the reach of campaigns through direct online interaction and analytics, making them decide better in consumer buying preferences. For instance, in the US, PR agencies generated a revenue of US$ 14 billion in 2019, experiencing a significant growth compared to previous years.

Which primary factor is driving the PR Analytics Software market?

The advancement in technology has brought immense growth in public relations tools. Online platforms and social media are heavily exploited as public relations tools and therefore boosting the market growth. The demand for such tools is increasing as these are helping in the marketing campaigns of multiple organizations. Therefore, with the use of social media platforms, companies can organize low-cost campaigns and get more information for analytics purposes. Therefore, the demand for PR Analytics Software will increase with the growing use of online and social media platforms.

Which segment by deployment led the PR Analytics Software market in 2020?

The cloud-based segment led the market by deployment. Lately, the technology sector is witnessing a significant growth in cloud-based solutions as they are time and cost efficient. Owing to these advantages, cloud-based solutions have attracted a significant percentage of end users. Moreover, because of the rising demand for cloud-based software, the key market players are offering cloud-based products in the PR analytics software market. Further, the internet infrastructure has matured in developed countries and is flourishing in several developing countries, which allows end users in both developed countries as well as developing countries to access the cloud-based solutions. This factor is positively influencing the adoption of PR analytics software market among various industries. Moreover, owing to the incremental advancements in cloud computing, cloud-based solutions are experiencing significant growth. Thus, these factors are positively influencing the growth of the market.

Which are the five key companies in the global PR Analytics Software market?

CISION US INC., Meltwater, TVEyes Inc., Muck Rack, and Critical Mention, Inc. are the five key players in the global PR Analytics Software market. These companies have shown consistent growth in revenue and larger volumes of sales. In addition, the well-established top five players are offering a comprehensive product portfolio and have a prominent presence in terms of share in the global market.

At what CAGR is the PR Analytics Software market expected to grow during the forecast period?

The PR Analytics Software market is expected to grow at a CAGR of 9.8% during the forecast period. Over the forecast period, Asia Pacific is expected to be the fastest expanding regional pertaining to technological adoption, government initiatives to enhance various industries, and a rise in disposable income of the middle-income class group are among the factors propelling the overall economic growth in the region. The region comprises various growing economies that are witnessing high growth in digitalization in several industries. Furthermore, the markets in South America and the Middle East and Africa are predicted to rise moderately over the projected period.

Which segment by Organization Size is expected to grow at the fastest CAGR during the forecast period?

By organization size, the Small and Medium Enterprises segment is expected to grow at the fastest CAGR during the forecast period. As per our scope, small enterprises are those having 1–100 employees, while medium-sized enterprises are those with 101–500 employees. Small and medium size enterprises (SMEs) play a vital role in economies; as per the World Bank, SMEs contribute ~40% of GDP and ~60% of total employment in the emerging economies. As SMEs are focused on simplifying the operations and reducing the operational costs, they are witnessing a significant demand for PR analytics software. SMEs need continuous support from the respective country governments to achieve their full potential; at the same time, they need to work on their internal processes, structures, and practices to achieve anticipated growth. Moreover, digitalization is opening new opportunities for SMEs to adopt advanced solutions. These factors are significantly driving the demand for PR analytics software marketing the SME sector.

The List of Companies - PR Analytics Software Market:

  1. Prezly
  2. Agility PR Solutions LLC 3
  3. Critical Mention, Inc
  4. Meltwater
  5. Muck Rack
  6. Onclusive, Inc
  7. Prowly
  8. TVEyes Inc
  9. CISION US INC.
  10. Newswire

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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