The PR analytics software market size is projected to reach US$ 9.42 billion by 2031 from US$ 4.46 billion in 2023. The market is expected to register a CAGR of 9.8% during 2023–2031. Increasing focus on data privacy and security and enhanced visualization tools are likely to remain a key trend in the market.
In the current fast-paced realm of public relations (PR) and communication, professionals looking to enhance their tactics and efficacy now find that data-driven decision-making is essential. Professional measurement and PR analytics are essential for obtaining meaningful insights from data. PR analysis is gathering, examining, and extrapolating information on media attention, social media activity, PR initiatives, and other topics.
The public relations industry is always changing to meet the ever-evolving needs of the fast-paced world we live in today. New technologies, creative ideas, and forward-thinking PR tactics have proliferated in recent years, resulting in unexpected advances in this ever-changing field. Data is the engine of contemporary public relations. PR firms are depending more and more on data-driven methods in PR analytics to guide their tactics. Data offers concrete proof to back up communication initiatives, facilitating targeted audiences and accurate messages.
In order to explore the enormous digital world and deepen their knowledge, people are depending more and more on digital platforms, such as social media networks and search engines like Google and Bing. According to the U.S. Census Bureau, newspaper publisher earnings fell by 52% between 2002 and 2020, while the number of daily newspapers published in the United States fell from 55.8 million in 2000 to 24.2 million on weekdays by the same year. This constant rise in digital media has led to an increase in the volumes of data generated, which can be harnessed using PR analytics software by public relations companies, thus driving the demand.
PR analytics software tools are used to handle huge volumes of public relations data. PR is changing as a result of machine learning and artificial intelligence. Trend forecasting, message personalization, and customer behavior are all made possible by algorithms and data analysis. These tools, which range from chatbots to sentiment PR analytics, enable PR practitioners but require responsible and open use to maintain customer confidence.
Key segments that contributed to the derivation of the PR analytics software market analysis are deployment and organization size.
The geographic scope of the PR analytics software market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America holds a significant share of the PR analytics software market in 2023. The region is home to major PR companies of the world such as Cision, Meltwater, and Brandwatch. It is a mature market with rising demand for PR analytics within countries such as the US and Canada. This is driving the market growth in the region.
The regional trends and factors influencing the PR Analytics Software Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses PR Analytics Software Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 4.46 Billion |
| Market Size by 2031 | US$ 9.42 Billion |
| Global CAGR (2023 - 2031) | 9.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Deployment
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The PR Analytics Software Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the PR Analytics Software Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The PR analytics software market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the PR analytics software market are listed below:
The “PR Analytics Software Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America dominated the PR analytics software market in 2023.
The rise of digital media and integration with marketing and sales are expected to drive the PR analytics software market.
Increasing focus on data privacy and security and enhanced visualization tools are likely to remain key trends in the market.
Prezly, Agility PR Solutions LLC, Critical Mention, Inc, Meltwater, Muck Rack, Onclusive, Inc, Prowly, TVEyes Inc, CISION US INC., and Newswire are among the leading payers operating in the PR analytics software market.
The PR analytics software market size is projected to reach US$ 9.42 billion by 2031
The PR analytics software market is expected to register a CAGR of XX% during 2023–2031