Spend on media intelligence information and software solutions by public relations professionals shot up 9.3% in 2017 to USD3.5 billion, according to an analysis by Burton-Taylor International Consulting:
- Growth is being driven by increased spend on tracking and analyzing social media, with companies such as Salesforce, Sprinklr, Hootsuite and UK-based Brandwatch all expanding fast.
- Communications professionals are also spending more on information tools and services to help them analyze the impact that their work is having.
- Chicago-based provider Cision is by far the largest supplier of information services to PR and communications professionals; following a string of acquisitions, it now accounts for around one-fifth of the global market.
“While the biggest Media Intelligence firms are getting bigger, there is still very lively competition,” says report contributor Chris Porter, Director at Porter Walford Consulting and a consultant to Burton-Taylor. “Several of the most established providers, including Cision, Kantar Media and Asia-Pacific market leader Isentia, have been going through a lot of internal transition.”
“Meanwhile second-largest provider Meltwater has been very busy buying up smaller companies. And newer names such as TrendKite, Mynewsdesk, News Group International, UNICEPTA or AirPR have been pressing ahead with their own alternative solutions.” SOURCE Burton-Taylor International Consulting, https://burton-taylor.com
According to Market Research Media report “The Technological and Market Dimension of Info Operations and Warfare (Influence Operations), Market Estimates“, spending on media intelligence information and software solutions by government agencies will surpass $2 Billion in 2020, while the corporate public relations professionals will spend about $4 Billion on SOCMINT in 2020. After a few years of double-digit growth, the social media intelligence market is expected to slow down and stabilize at the robust growth rate of about 7%.