Social Business Applications Ride a Growth Wave
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Social Business Applications Ride a Growth Wave
One of the fastest growing tech sectors, the social business applications market is forecast to grow rapidly from 2014 to 2019, according to 451 Research. -
Upward Growth in Social Business Applications
From 2014 to 2019, social business applications revenue is expected to jump more than 2.5 times from $13.9 billion to $37 billion. -
Enterprise Collaboration/Social Sector's Dominance
Of the four sectors covered, 64% of 2014 revenue is attributable to the enterprise collaboration/social sector. -
Revenue Jump in Enterprise Collaboration/Social Sector
Enterprise collaboration/social sector revenue is projected to show a compound annual growth rate (CAGR) of 22% from $8.88 billion in 2014 to $24.35 billion by 2019. -
Social Media Management and Marketing Revenue Growth
Revenue for social media management is expected to chalk up a 25% CAGR from $801 million in 2014 to $2.49 billion in 2019. -
Large Increases in Marketing Automation Revenue
Revenue in the marketing automation sector is expected to show a 20% CAGR from $2.47 billion in 2014 to $6.25 billion in 2019. -
Expansion of Web Enterprise Management Revenue
Revenue in the Web enterprise management sector is expected to increase from $1.74 billion in 2014 to $3.90 billion in 2019, an 18% CAGR. -
Highest Growth Among Four Sectors
Of the four sectors, the highest CAGR from 2014 to 2019 is expected in social media management and monitoring, at 25%. It is the smallest of the four sectors, growing from $801 million to $2.49 billion. -
Overall Market Share
Market share for all four sectors is anticipated to remain fairly constant, with the greatest increase expected in the enterprise collaboration/social sector from 64% in 2014 to 66% in 2019. -
Remaining Market Share
By 2019, marketing automation is expected to comprise 17% of market share; Web experience management, 11%; and social media management and monitoring, 7%.
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Why Metrics Matter to the Channel From 2014 to 2019, social business revenue is projected to surge by more than a factor of 2.5, according to a new forecast from 451 Research. The five-year forecast, based on an analysis of 145 vendors, shows the social business market segment expected to post the most growth in revenue by 2019 is the social media monitoring and management sector. "The convergence of social, mobile, analytics and cloud, along with innovations such as file sync and share, is bringing about a long-awaited reinvention of business applications," said Alan Pelz-Sharpe, research director for 451 Research's social business applications channel. "We are seeing the business become a legitimate buyer of online business services challenging the notion of 'shadow IT' and legacy core applications in supply chain, financials and HR rethought as the access, value and use of them now extends to any time, anywhere." One of the fastest-growing tech sectors, the social business applications market is showing no sign of slowing, Pelz-Sharpe said. The analysis covers four social business sectors: marketing automation, social media management and monitoring, enterprise collaboration/social and Web experience.