The global market for PR analytics software is projected to expand from US$ 3,471.10 million in 2020 to US$ 7,114.89 million by 2028, reflecting a compound annual growth rate (CAGR) of 9.8% from 2021 to 2028.
As the global population continues to grow, the number of internet users has surged dramatically. Currently, there are approximately 4.66 billion internet users worldwide, which represents about 59% of the total global population. Notably, 92.6% of these users, or around 4.32 billion, access the internet via mobile devices. Countries such as Denmark, the UAE, and Sweden boast some of the highest internet penetration rates.
As of 2020, the Asia Pacific (APAC) region had the largest number of internet users, exceeding 2.5 billion, followed by Europe with nearly 728 million users. China led the global market share with over 854 million users, followed closely by India with around 560 million users, and the United States.
In the Middle East and Africa (MEA), countries like Oman, Qatar, and Kuwait are still in the early stages of digitalization, resulting in relatively low internet penetration. However, as awareness increases, these numbers are steadily climbing. The rapid growth in the number of internet users is prompting industries to shift their operations to digital platforms. Consequently, PR professionals are increasingly turning to email marketing, social media campaigns, and online advertising as effective strategies to reach their audiences. These methods are not only cost-effective but also provide valuable data insights. During the COVID-19 pandemic, online campaigns emerged as the most viable option for communication, further boosting the demand for PR analytics software.
The PR analytics software market is categorized based on deployment, enterprise size, and geographical location. In terms of deployment, the market is divided into cloud-based and on-premise solutions. The cloud-based segment held a significant share of the market in 2020. When considering enterprise size, the market is split between small and medium enterprises and large enterprises, with large enterprises dominating the market share in 2020. Geographically, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America was the leading region in the PR analytics software market in 2020.
The COVID-19 pandemic has significantly transformed business operations globally, revealing weaknesses in various business models. As a result, PR professionals have increasingly adopted email marketing, social media outreach, and online advertising, leveraging the growing number of internet users. These strategies have proven to be cost-effective for executing campaigns and collecting data. With the pandemic's challenges, online campaigns became the most suitable method for engagement. As internet usage continues to rise, PR analytics software developers are poised to benefit from increased sales. As vaccination efforts progress and the pandemic is brought under control, it is anticipated that investments in these industries will rise during the forecast period, as PR analytics software solutions gain traction across diverse business functions.
The overall size of the PR analytics software market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. This approach also aimed to provide a comprehensive overview and forecast of the PR analytics software market across all segments. Additionally, primary interviews were conducted with industry participants and experts to validate the data and gain deeper analytical insights. Participants included industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the PR analytics software sector.
Key players in the global PR analytics software market include Prezly, Agility PR Solutions LLC, Critical Mention, Inc., Meltwater, Muck Rack, Onclusive, Inc., Prowly, TVEyes Inc., CISION US INC., and Newswire.