Global Brand Management Software Market – Drivers and Forecasts by Technavio

analysts forecast the global
brand management software market
[3] to grow at a CAGR of more
than 10% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of
the global
brand management software market
[4] for 2017-2021. The market is
segmented on deployment (cloud-based and on-premise), end-user (retail,
media, and government), and geography (the Americas, EMEA, and APAC).

The global brand management software market is dynamic in nature that is
experiencing changing consumer demands and rapid changes in
technologies. Organizations require advanced IT solutions to manage
their digital assets to improve business performance. Cloud-based brand
management solutions are quickly gaining popularity among small and
medium enterprises (SMEs) as the solution eliminates the need for high
initial CAPEX.

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Technavio ICT[6]
research analysts highlight the following three factors that are
contributing to the growth of the global brand management software

  • Need for protecting brand identity
  • Brand management software used in social media for brand awareness and
  • Growth of data in companies

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Need for protecting brand identity

For maintaining the sustainability of a brand, it is essential that the
company maintains and communicates a visual identity through several
channels. The visual identity, which includes fonts and logos, should be
updated consistently. This must be done with complete awareness
regarding brand history and vision by involving all relevant employees
in the process. Also, any change made in visual identity should be
reflected in all the subsequent works of the company.

Amit Sharma, a lead enterprise
[8] research analyst at Technavio, says, “Brand
management software creates a brand portal and replaces branding
repository. This portal provides all relevant parties with updateable
branding information. Fonts and logos will be available for direct
download in the portal, making sure that all materials produced
company-wide are branded uniformly.”

Brand management software used in social media for brand awareness
and promotion

Companies find social media sites like Facebook, Twitter, LinkedIn,
Instagram, and Snapchat as a good platform to promote themselves and
build their brand and audience. Finding time to update profiles and
blogs can be a challenge for companies that release several products in
a month. Tracking the consumer updates regarding products from social
media is another time-consuming task.

“Social media monitoring feature in brand management software is
widely used to achieve this. Brand management software, such as
Hootsuite, helps to respond to messages, brand mentions, and comments in
social networks through a single dashboard. Also, it helps to identify
the people who are significant to the business and help vendors to
follow them and their activities on the web,”
adds Amit.

Growth of data in companies

The development of technologies, such as cloud computing, Internet of
Things, and social networking, has increased the amount of data
accumulated. At present, the amount of global data is rising
exponentially. The emergence of big data has attracted industries like
healthcare, retail, finance, logistics, telecommunication, and
manufacturing because of its great social value and industrial potential.

Big data is generated from various sources like enterprise applications,
web-based searches, social networks, and cloud-based applications. Big
data ranges from terabytes (10^12 bytes) to petabytes (10^15 bytes) and
exabytes (10^18 bytes). The characteristics of big data are 4 V’s:
Volume, velocity, variety, and veracity.

Top vendors:

  • Brandworkz
  • Bynder
  • Hootsuite Media
  • MarcomCentral
  • Webdam

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