PR Analytics Software Market is expected to reach US$ 7,114.89 Million by 2028

Surge in Cloud-Based Software to Provide Growth Opportunities for PR Analytics Software Market during 2021–2028

According to our latest market study on “PR Analytics Software Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Deployment and Organization Size,” the market was valued at US$ 3,696.72 million in 2021 and is projected to reach US$ 7,114.89 million by 2028; it is expected to grow at a CAGR of 9.8% from 2021 to 2028.

With the digital transformation worldwide, the deployment of the cloud-based platform is increasing due to simplification of the deployment time and a significant reduction in the cost of deployment. Further, the internet infrastructure has matured in developed countries. It is flourishing in several developing countries, allowing end-users in both developed and developing countries to access the cloud-based platform. Additionally, the number of cloud-based software developers for PR analytics is increasing. For instance, Cision US, Inc. provides Cision Communications Cloud platform software. The Cision Communications Cloud gives communicators access to the most comprehensive set of tools available in the market.

PR professionals can reach the relevant people, offer effective results across conventional, digital, and social media, and track their brand in one integrated solution. The automated analysis makes it simple to report and convert campaigns into helpful information. With unified control and visibility from device to cloud, these integrations defend enterprises against the most advanced threats while simplifying security operations. Therefore, growing cloud-based software helps in creating opportunities for the market players in terms of more sales.

The PR analytics software market is segmented on the basis of deployment, organization size, and geography. Based on deployment, the market is bifurcated into on-premise and cloud-based. The cloud-based segment held a larger revenue share in 2020.  Based on organization size, the PR analytics software market is bifurcated into small and medium enterprises and large enterprises. In 2020, the large enterprises segment led the market globally. Geographically, the market is segmented into five key regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM). North America held the largest revenue share in 2020, followed by Europe and APAC. The market in APAC is projected to grow at the fastest rate from 2021 to 2028.

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.

With the rising cases of COVID-19, marketing agencies are looking for an effective way to communicate with people. Due to this, PR had become essential during the pandemic. It offers several benefits including, a cost-effective approach, PR strengthens relationships & trust, helps the brands stay relevant, PR can adapt to declining media with the help of digital PR. Yes, the growth of the PR industry is mainly dependent on the growth and success of other industries, and with budgets being cut, the impact of the crisis on many of us was significant. Therefore, in 2020, the COVID-19 impact on the PR analytics software market had a negative impact.

Agility PR Solutions LLC; Critical Mention, Inc.; Meltwater; Muck Rack; Onclusive, Inc.; Prowly; TVEyes Inc.; CISION US INC.; Newswire; and Prezly are among the key players operating in the global PR analytics software market.

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

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