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.
From 2014 to 2019, social business applications revenue is expected to jump more than 2.5 times from $13.9 billion to $37 billion.
Of the four sectors covered, 64% of 2014 revenue is attributable to the 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.
Revenue for social media management is expected to chalk up a 25% CAGR from $801 million in 2014 to $2.49 billion in 2019.
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.
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.
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.
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.
By 2019, marketing automation is expected to comprise 17% of market share; Web experience management, 11%; and social media management and monitoring, 7%.