Social Business Software Market Expected To Reach $37 Billion By 2019
New forecast suggests 22 percent compound annual growth for marketing automation, social media management and related software vendors.
Marketing vendors offering social business software — things like social media management tools and marketing automation tools — are expected to grow revenue from $13.9 billion last year to $37 billion in 2019.
That’s according to a new forecast from 451 Research covering four specific market software segments: Marketing Automation, Social Media Monitoring & Management, Enterprise Collaboration/Social and Web Experience Management. The company data comes from 145 vendors across those four categories, led by 65 participants in the Enterprise Collaboration/Social group.
In the company’s news release, 451 research director Alan Pelz-Sharpe says: “Applications are being built to meet the needs of increasingly dispersed workforces, and in 2015 we expect the number of players, as well as investment, to grow substantially in this market, and further outlying technologies to be drawn inward.”
451’s forecast represents a compound annual growth rate of 22 percent for this segment of the martech space.