Brand Tracking Software Brand Tracker Market Overview
As per MRFR analysis, the Brand Tracking Software Brand Tracker Market Size was estimated at 2.06 (USD Billion) in 2022. The Brand Tracking Software Brand Tracker Market is expected to grow from 2.24 (USD Billion) in 2023 to 4.8 (USD Billion) by 2032. The Brand Tracking Software Brand Tracker Market CAGR (growth rate) is expected to be around 8.82% during the forecast period (2024 - 2032).
Key Brand Tracking Software Brand Tracker Market Trends Highlighted
Key market drivers for Brand Tracking Software include the need for businesses to monitor and optimize their brand performance, the growing importance of online reputation management, and the increasing adoption of data analytics.Opportunities for growth in the Brand Tracking Software market include the expansion of social media and the rise of influencer marketing, which create new channels for brands to engage with their customers and track their performance.Additionally, the increasing use of artificial intelligence and machine learning in brand tracking software is expected to drive innovation and improve accuracy.Recent trends in the Brand Tracking Software market include the integration of social media listening and sentiment analysis capabilities, the development of real-time monitoring tools, and
the adoption of predictive analytics to identify and respond to potential brand issues.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Brand Tracking Software Brand Tracker Market Drivers
Increasing Need for Data-Driven Decision Making
Nowadays, companies have to compete in fierce market conditions, and for that, they need to focus on the data collection and use of it.In particular, brand tracking software helps organizations collect information about some significant metrics, including brand awareness, perception of a brand, and customer satisfaction.Based on such data, the company may identify whether there are any segments that need improvements. Therefore, using this information may allow for making precise changes to the marketing campaign that would bring much better results in the long run.That is why the increased demand for analytical data overall fosters the development of the Brand Tracking Software / Brand Tracker Market.
Rising Adoption of Digital Marketing Channels
The proliferation of digital marketing channels has created new opportunities for companies to reach their target audiences.Brand tracking software can help companies measure the effectiveness of their digital marketing campaigns and optimize their strategies to maximize ROI.As more companies adopt digital marketing channels, the demand for brand-tracking software is expected to grow in the coming years.Growing Awareness of Brand Reputation ManagementFor any company, its brand reputation is one of the most important assets. Various issues in this area can easily lead to sales decline, customer attrition and falling profits.Brand tracking software can help monitor a brand and pinpoint potential threats. Such information can be used to develop proactive strategies to protect and improve brand reputation.
Brand Tracking Software Brand Tracker Market Segment Insights
Brand Tracking Software Brand Tracker Market Deployment Mode Insights
The deployment mode segment of the Brand Tracking Software / Brand Tracker Market is bifurcated into cloud-based and on-premises. Cloud-based deployment mode is expected to hold a prominent share of the market in the coming years owing to its flexibility, scalability, and cost-effectiveness.Cloud-based deployment mode eliminates the need for on-site infrastructure and maintenance, making it an attractive option for businesses of all sizes.On the other hand, on-premises deployment mode offers greater control and security over data. This deployment mode is preferred by businesses that have sensitive data or regulatory compliance requirements.
However, on-premises deployment mode is more expensive and requires significant upfront investment in infrastructure and maintenance. In 2023, the cloud-based deployment mode segment is expected to witness significant growth due to the increasing adoption of cloud computing services by businesses.The cloud-based deployment mode is expected to reach a market valuation of USD 1.6 billion by 2032, exhibiting a CAGR of 9.2% during the forecast period 2024-2032.
The on-premises deployment mode segment is expected to grow at a slower pace, reaching a market valuation of USD 0.8 billion by 2032.Overall, the deployment mode segment of the Brand Tracking Software / Brand Tracker Market is expected to grow significantly in the coming years, driven by the increasing adoption of cloud computing services and the growing need for businesses to track and measure their brand performance.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Brand Tracking Software Brand Tracker Market Vertical Insights
The Industry Vertical segment is an integral part of the Brand Tracking Software Brand Tracker Market and has a significant input on the market’s development and trends.Firstly, the Consumer-Packaged Goods segment is highly impactful in terms of market size, as many premium brands want to track their performance on different levels and geographies.Secondly, the Retail industry uses brand tracking software to ensure that it offers the products that customers want at the optimal price and with the best value propositions.
The Manufacturing, Healthcare, and Financial Services segments also have a solid market impact.In their cases, the market size is defined by the need to track brand perception, opportunities for improvement, monitoring customer satisfaction, and market positioning.To achieve the best results, all Brand Tracking Software Brand Tracker Market segments have to understand all specifics of the requirements of all industry verticals to tailor products to their needs.
Brand Tracking Software Brand Tracker Market Functionality Insights
The Functionality segment of the Brand Tracking Software / Brand Tracker Market is anticipated to contribute significantly to the overall market growth. In 2023, the Brand Performance Tracking segment dominated the market, accounting for around 45% of the total revenue.This segment enables businesses to track key brand metrics such as brand awareness, brand perception, and customer satisfaction.The Competitive Benchmarking segment is projected to register a CAGR of 9.5% from 2024 to 2032, driven by the increasing need for businesses to monitor their competitors' strategies and performance.
The Consumer Segmentation segment is also expected to witness steady growth as businesses seek to better understand their target audience and tailor their marketing campaigns accordingly.The Data Analysis and Visualization segment plays a crucial role in helping businesses interpret complex data and gain valuable insights into brand performance.The Social Media Monitoring segment is gaining traction due to the growing importance of social media in shaping brand perception and reputation.
Brand Tracking Software Brand Tracker Market Company Size Insights
The Brand Tracking Software / Brand Tracker Market is segmented by company size into Small and Medium-sized Enterprises (SMEs) and Large Enterprises.Among these segments, Large Enterprises held the dominant market share in 2023, and this trend is expected to continue during the forecast period.The dominance of large enterprises can be attributed to their greater financial resources, established brand presence, and need for comprehensive brand tracking solutions to monitor and manage their brand reputation and performance.
SMEs, on the other hand, are expected to witness significant growth in the coming years.The increasing adoption of digital marketing and e-commerce by SMEs is driving the demand for brand tracking solutions that can help them measure the impact of their marketing efforts and optimize their brand strategies.Additionally, government initiatives and support programs aimed at promoting SME growth are expected to contribute to the growth of this segment.
Brand Tracking Software Brand Tracker Market Pricing Model Insights
The pricing model segment plays a significant role in shaping the revenue dynamics of the Brand Tracking Software / Brand Tracker Market. It comprises two primary models: subscription-based and one-time license.Subscription-based Model offers ongoing access to the software for a recurring fee, typically paid monthly or annually. It is gaining popularity due to its flexibility and cost-effectiveness for businesses seeking continuous brand monitoring.The Brand Tracking Software / Brand Tracker Market revenue from the subscription-based model is projected to reach $1.58 billion by 2024, accounting for a major share of the overall market.One-time License Model: Under this model, businesses make a one-time payment for perpetual use of the software.
It is preferred by organizations with limited or occasional brand tracking needs.The Brand Tracking Software / Brand Tracker Market data indicates that the one-time license model is expected to generate $0.66 billion in revenue by 2024. The choice between these pricing models depends on factors such as budget, usage frequency, and the specific features required by businesses.The subscription-based model provides ongoing access to updates and support, while the one-time license model offers a lower upfront cost.Both models contribute to the overall growth of the Brand Tracking Software / Brand Tracker Market, catering to the diverse needs of businesses in monitoring and managing their brand performance.
Brand Tracking Software Brand Tracker Market Regional Insights
The regional segmentation of the Brand Tracking Software / Brand Tracker Market offers valuable insights into the market's geographical distribution and growth dynamics. North America holds a dominant position in the market, accounting for over 38% of the global revenue in 2023.The region's well-established brand management practices, technological advancements, and presence of numerous industry players contribute to its significant share.
Europe follows closely behind with approximately 27% of the market share.The region's strong focus on brand building and customer loyalty, coupled with government regulations favoring data privacy, drives growth in this market.APAC is projected to witness the fastest growth during the forecast period, owing to the increasing awareness of brand tracking software among businesses and the rapidly growing consumer base in emerging economies.South America and MEA represent smaller but growing markets with their own unique opportunities and challenges.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Brand Tracking Software Brand Tracker Market Key Players and Competitive Insights
In order to stay ahead of the curve, major players in the Brand Tracking Software Brand Tracker Market are investing heavily in innovation and constantly developing new features. To create more powerful and user-friendly software, leading players engage in research and development.Brand Tracking Software, The Brand Tracker Market, is expected to grow substantially in the upcoming years as more and more companies become aware of the benefits of brand tracking.Because of the significant level of growth, the competitive landscape of the Brand Tracking Software Brand Tracker Market is expected to stay competitive as developing and emerging players fight for target market shares.Nielsen is one of the leading providers of Brand Tracking Software Brand Tracker Market’s solutions.
Their software and products are designed to help businesses track brand performance and evaluate marketing campaign’s efficiency. Nielsen’s clients range from Fortune 500 companies and to small businesses.The company is renowned for the high quality of data and insights it delivers, and the software is known for its precision and consistency. Another major player who provides Brand Tracking Software Brand Tracker Market's solutions is SurveyMonkey.It offers a variety of software and products to assist companies in the process of generating and analyzing customer feedback. Similar to Nielsen, SurveyMonkey’s software is used by an impressive range of the companies, from Fortune 500 to small businesses.SurveyMonkey is appreciated for its high quality of data and insights and is distinguished by its user-friendly and affordable software.
Key Companies in the Brand Tracking Software Brand Tracker Market Include
- Emplifi (formerly Socialbakers)
- Meltwater
- BrandVerity
- Kantar
- Talkwalker
- Nielsen
- Brand24
- NetBase Quid
- Zoomph
- Zappi (formerly Vision Critical)
- SproutSocial
- Clarabridge
- Brand Metrics
- Brandwatch
- Appinio
Brand Tracking Software Brand Tracker Market Developments
The growth can be attributed to the increasing need for brands to track and measure their performance in the competitive market landscape.Additionally, advancements in technology, such as the integration of AI and machine learning, are further driving market growth.Key players in the market include Brandwatch, SproutSocial, Talkwalker, Brand24, and Meltware, among others. Recent developments include the acquisition of Brandwatch by Cision in 2021, reinforcing the consolidation trend in the industry.
Brand Tracking Software Brand Tracker Market Segmentation Insights
-
Brand Tracking Software Brand Tracker Market Deployment Mode Outlook
-
Brand Tracking Software Brand Tracker Market Vertical Outlook
- Consumer Packaged Goods (CPG)
- Retail
- Manufacturing
- Healthcare
- Financial Services
-
Brand Tracking Software Brand Tracker Market Functionality Outlook
- Brand Performance Tracking
- Competitive Benchmarking
- Consumer Segmentation
- Data Analysis and Visualization
- Social Media Monitoring
-
Brand Tracking Software Brand Tracker Market Company Size Outlook
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
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Brand Tracking Software Brand Tracker Market Pricing Model Outlook
- Subscription-based
- One-time License
-
Brand Tracking Software Brand Tracker Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
2.06(USD Billion) |
| Market Size 2023 |
2.24(USD Billion) |
| Market Size 2032 |
4.8(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
8.82% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Emplifi (formerly Socialbakers), Meltwater, BrandVerity, Kantar, Talkwalker, Nielsen, Brand24, NetBase Quid, Zoomph, Zappi (formerly Vision Critical), SproutSocial, Clarabridge, Brand Metrics, Brandwatch, Appinio |
| Segments Covered |
Deployment Mode, Industry Vertical, Functionality, Company Size, Pricing Model, Regional |
| Key Market Opportunities |
Digital transformation Advanced analytics Artificial intelligence Cross-channel monitoring Social media analytics |
| Key Market Dynamics |
Increasing demand for real-time consumer insights Growing adoption of artificial intelligence AI and machine learning ML Expansion into emerging markets Growing need for competitive intelligence Rise of personalized marketing campaigns |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Brand Tracking Software / Brand Tracker Market is expected to reach an overall valuation of 2.24 billion USD in 2023.
The Brand Tracking Software / Brand Tracker Market is projected to register a CAGR of 8.82% from 2024 to 2032.
The growth of the Brand Tracking Software / Brand Tracker Market is attributed to factors such as increasing demand for real-time brand performance monitoring, growing adoption of digital marketing channels, and rising need for competitive benchmarking.
North America is expected to hold the largest market share in the Brand Tracking Software / Brand Tracker Market due to the presence of a large number of established brands and extensive adoption of advanced marketing technologies.
Some of the key competitors in the Brand Tracking Software / Brand Tracker Market include Nielsen, Kantar, Brandwatch, SproutSocial, Hootsuite, Meltware, Brand24, BrandMentions, Talkwalker, and Brandwatch.
Brand Tracking Software Brand Tracker finds applications in various industries, including consumer packaged goods, retail, automotive, healthcare, and technology. It is used for tracking brand awareness, brand perception, and brand performance across different channels.
The Brand Tracking Software / Brand Tracker Market faces challenges such as data privacy concerns, integration with existing systems, and the need for skilled professionals to interpret and analyze data.
Emerging trends in the Brand Tracking Software / Brand Tracker Market include the adoption of artificial intelligence (AI) and machine learning (ML) for data analysis, the integration of social media monitoring tools, and the use of real-time data for decision-making.
The Brand Tracking Software / Brand Tracker Market is expected to reach an overall valuation of 4.8 billion USD by 2032.
Key growth opportunities for the Brand Tracking Software / Brand Tracker Market include the increasing adoption of digital marketing channels, the need for real-time brand performance monitoring, and the growing awareness of brand reputation management.
