The global public relation (PR) tools market has experienced
growth due to several factors such as rise in usage of numerous
platforms for reaching out to regular & potential consumers and
continual advancements in data drilling & information gathering
platforms in large and small organizations.
NEW
CASTLE, Del., Aug. 19,
2024 /PRNewswire/ -- Allied Market Research published
a report, titled, "Public Relations (PR) Tools Market by
Type (Publishing Tools, Social Media Monitoring and
Management, Content Creation and Distribution, Data Aggregation
Monitoring and Analysis and Relationship Management) and
Application (BFSI, Consumer Goods and Retail, Government and
Public Sector, IT and Telecom and Healthcare and Media and
Entertainment): Global Opportunity Analysis and Industry Forecast,
2024-2034". According to the report, the public relations (PR)
tools market was valued at $12.4 billion in 2023, and is estimated to
reach $34.9 billion by 2034, growing
at a CAGR of 10.1% from 2024 to 2034.
Prime determinants of growth
The global public relation (PR) tools market has experienced
growth due to several factors such as continual advancements in
data drilling & information gathering platforms in large and
small organizations, surge in usage of numerous platforms for
reaching out to regular and potential consumers, and rise in
popularity of social media advertisements and digital marketing for
monitoring and tracking consumer preferences. However, the lack of
skilled employees hinders market growth to some extent. Moreover,
the increasing penetration of high-speed internet, the augmenting
usage of cloud computing offers remunerative opportunities for the
expansion of the global public relation (PR) tools
market.
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Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2034
|
Base
Year
|
2023
|
Market Size in
2023
|
$12.4 billion
|
Market Size in
2034
|
$34.9 billion
|
CAGR
|
10.1 %
|
No. of Pages in
Report
|
293
|
Segments
Covered
|
Solution Type,
Application, Deployment Mode, Industry Vertical, and
Region.
|
Drivers
|
- Continual advancements in data drilling and
information gathering platforms in large and small
organizations
- Growing usage of numerous platforms for
reaching out to regular and potential consumers
- Rise in popularity of social media
advertisements and digital marketing for monitoring and tracking
consumer preferences
|
Opportunities
|
- Increasing penetration of high-speed
internet
- Augmenting usage of cloud
computing
|
Restraint
|
- Lack of skilled
employees
|
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The publishing tools processing segment is expected to
exhibit fastest growth throughout the forecast period
By solution type, the publishing tools segment held the highest
market share in 2023, accounting for more than half of the global
public relation (PR) tools market revenue and is likely to retain
its dominance throughout the forecast period, owing to growing
demand for tools that facilitate multimedia content creation,
including graphics, videos, and interactive elements, catering to
audiences' preferences for visually engaging content across various
digital channels.
The online media segment is expected to exhibit fastest
growth throughout the forecast period
By application, the online media segment is projected to
manifest the highest CAGR of 11.8% from 2024 to 2032, owing to the
increasing emphasis on storytelling and narrative-driven content.
PR professionals are leveraging tools that enable them to craft
compelling stories that resonate with their target audience's
emotions and values, helping to humanize brands and establish
meaningful connections.
The hosted segment is expected to lead throughout the
forecast period
By deployment mode, the hosted segment is projected to attain
the highest CAGR of 12.0% from 2024 to 2032, owing to the adoption
of hosted PR tools is the increasing demand for cost-effective and
scalable solutions. Hosted models typically require lower upfront
investment and offer flexible pricing structures, making them
accessible to organizations of all sizes, including startups and
small businesses.
The retail and consumer goods segment are expected to exhibit
fastest growth throughout the forecast period
By industry vertical, the retail and consumer goods segment held
the highest market share in 2023, accounting for two-fifths of the
global public relation (PR) tools market revenue and is likely to
retain its dominance throughout the forecast period, owing to the
growing focus on data-driven PR strategies, with tools leveraging
customer insights and analytics to personalize communications,
tailor product offerings, and optimize marketing campaigns for
maximum impact. This data-driven approach enables PR professionals
to anticipate consumer needs, identify emerging trends, and adapt
strategies in real-time to stay ahead in a competitive market.
Asia-Pacific to maintain its
dominance by 2032
By region, Asia-Pacific held
the highest market share in terms of revenue in 2023, accounting
for three-fourths of the global public relation (PR) tools market
revenue and is expected to attain growth in terms of revenue
throughout the forecast timeframe, owing to the increasing adoption
of digital and social media platforms for communication and
engagement. PR tools tailored for Asian markets are integrating
features that cater to popular platforms such as WeChat, Line,
KakaoTalk, and others, enabling PR professionals to reach and
engage with audiences in their preferred digital channels
effectively.
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Major Industry Players: -
- Agility PR Solutions
- Business Wire Inc
- Cision AB
- iPR Software Inc
- Isentia
- Meltwater Inc.
- Onalytica
- Onclusive Inc.
- Outbrain Inc.
- Prezly
The report provides a detailed analysis of these key players in
the global public relation (PR) tools market. These players have
adopted different strategies such as new product launches,
collaborations, expansion, joint ventures, agreements, and others
to increase their market share and maintain dominant shares in
different regions. The report is valuable in highlighting business
performance, operating segments, product portfolio, and strategic
moves of market players to showcase the competitive
scenario.
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