The global Public Relations (PR) Tools Market is expected to value at USD 12.99 billion by 2024. The public relations tools industry is subject to witness a substantial growth due to the growing demand for effective management of the digital, online and print media, creating thorough reports and deriving necessary information. Public relationship has taken a center stage during various marketing campaigns carried out by large-scale organizations in the last few years.
Substantial number of efforts has been made to quantify the impact of public relations and the return on investments (ROI) during marketing campaigns. These factors are contributing significantly for the market growth of PR tools in the recent years. Globally, the public relations tools market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the PR tools industry.
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Growing implementation of public relation (PR) tools to reach out to customers helps organization to track and control diverse customer relationship platforms on a single pane. Moreover, the rise of social networking sites and rapid growth social media is expected to generate high-end demand for media tracking solutions to optimize the media spending of organizations. These key factors are driving industry expansion in the last few years.
Increasing use of Internet as an information source is significantly influencing organizations while reaching out to customers and attracting them. The public relations (PR) tools acts as a real-time intelligence system that helps organization to attract users via set of activities. The recent technological advancements in customer relation sector coupled with introduction of different platforms for data drilling and gathering insights is expected to create a positive effect on the market growth.
The PR tools market is broadly categorized into six major segments based on the application type such as BFSI (Banking, Finance and Insurance) sector, consumer goods and retail sector, government and public sector, healthcare sector, IT & telecom sector and media &entertainment sector. The BFSI (Banking, Finance and Insurance) sector is considered as one of the fastest growing segment in the with substantial revenue generation in the last few years.
The public relations (PR) tools industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies, increase in the number of research & development activities in the region and existence of well-established IT infrastructure. Asia-Pacific region is predicted to hold major market share in the public relations (PR) tools market with massive growth in forecast period.
Countries such as India, Japan, Malaysia China and Singapore are leading the Asia-Pacific market with increasing number of Internet users, rising personal disposable income, strong economic growth and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the public relations (PR) tools industry are Google Inc., Business Wire Inc., Salesforce.com Inc., Meltwater Inc., Cision AB, AirPR Software Co., Iris PR Software Ltd., ISentia, Inc., Onalytica Co., Prezly, Inc., Narrative Science, Inc., Rocket Fuel Co., and Outbrain Inc.
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PR Tools Industry Outlook (Revenue, USD Million; 2014 – 2024)
• Consumer Goods and Retail
• Government and Public Sector
• IT & Telecom
• Media & Entertainment
PR Tools Application Outlook (Revenue, USD Million; 2014 – 2024)
• Content Marketing
PR Tools Solution Outlook (Revenue, USD Million; 2014 – 2024)
• Publishing Tools
• Social Media Monitoring & Management
• Content Creation and Distribution
• Data Aggregation, Monitoring, and Analysis
• Relationship Management
PR Tools Deployment Outlook (Revenue, USD Million; 2014 – 2024)
PR Tools Regional Outlook (Revenue, USD Million; 2014 – 2024)
• North America
• Asia Pacific
• South America
• Middle East & Africa
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