Social Media Analytics Market
Social Media Analytics Market Forecasts to 2028 – Global Analysis By Component (System, Services), Deployment Model (Cloud, On-Premises), Analytics Type (Diagnostic Analytics, Predictive Analytics), and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $3.30 BN |
|
Projected Year Value (2028) |
US $16.65 BN |
|
CAGR (2021 - 2028) |
26.0% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Fastest Growing Market |
Asia Pacific |
Social Media Analytics Market
According to Stratistics MRC, the Global Social Media Analytics Market is accounted for $3.30 billion in 2021 and is expected to reach $16.65 billion by 2028 growing at a CAGR of 26.0% during the forecast period. Social media analytics is the way of collecting data from social media websites and analyzing that data using social media analytics tools to make business decisions. An increasing number of organizations rely on social media for interacting internally, as well as with external constituents. The most general use of social media analytics is to mine customer sentiment to support marketing and customer service activities.
Market Dynamics:
Driver:
Rising number of social media users
With the growing number of social media users, the business is using social media analytics as a tool to reach their audience, and in this way, the market is growing. Companies need the business information, along with customers’ data, and find out about their customers. Customers these days demand better quality of products and services at lower prices and faster delivery. Analytics is helping business to achieve their goals. Social media analytics helps analyze the unstructured data to respond to dynamic markets to get high sales and profit. Businesses can use social media analytics to improve their market presence and to get customer reviews, and this is another driver that is driving the market.
Restraint:
Difficulties in analytical workflow
Data analysis and customization are highly complex and time-consuming. This is a major restraint that obstructs the growth of the overall market. The analytical process includes so many steps such as identification, business rules, data preparation, data modeling, and visualization. Companies are using different analytical solutions to get the maximum value of social media data. The data collected from numerous social media platforms is unstructured. Analysts have to gather all types of social media data from various platforms to generate the best outcomes. Sometimes these complexities become one of the major restraints in the market.
Opportunity:
Upsurge in cloud adoption
A large number of organizations are already using the cloud or planning to do so and this is expected to result in the exponential growth of the market. It has been observed that while startups or small companies quickly adopt the cloud, the adoption of the cloud is increasing at a fast pace owing to the obvious benefits of flexibility and cost that it offers over legacy systems. The rise in acceptance of the cloud is an opportunity for growth of the global market.
Threat:
Lack of standard measures
The analyzed data collected from the social media platforms need to be reliable and valid so that the correct information can be obtained. If there is any mistake in the data, then it won’t be of any use, and it would lead to wrong decision-making for the businesses. So, it becomes very important to validate all the data carefully using algorithms to get the expected results. The lack of standard measures for social media analytics has become a challenge for the growth of the social media analytics market.
Cloud segment is expected to be the largest during the forecast period
Cloud segment is expected to be the largest during the forecast period, due to being cost-effective and easily scalable. It is also easy to maintain and manage data. The social media analytics solution is offered as SaaS, and all the social media analytics workloads are cloud-based. IT infrastructure requirements of the customer, data redundancies, data availability, and virtual private network setup (related to customer IT teams), setting security protocols and audits, configuration, and maintenance and updates are handled by the social media analytics solution vendors.
The Retail and Ecommerce segment is expected to have the highest CAGR during the forecast period
The Retail and Ecommerce segment is expected to have the highest CAGR during the forecast period. The tools used by retailers help in connecting with the audience and creating brand awareness. Social media analytics is an efficient marketing tool that assists retailers in studying and analyzing sales at different stages.
Region with highest share:
The North America is projected to hold the highest market share, due to the high contribution of the residents in diverse social media, companies, have been deploying social media analytics to generate insights and gain a better understanding of consumer behaviour, which further guides their business and strategic decision-making. Additionally, high acceptance of digital technologies among individuals and companies such as Google is also working towards the development of Social Media Analytics platforms with partnerships and acquisitions in this market to enhance market opportunities.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR, as the province has continually presented lucrative market opportunities for social media analytics. Solutions providers with a notable increase in social media analytics across its developed and emerging countries. Japan, China, and India have displayed ample growth opportunities in the market. Moreover, due to the rapidly proliferating technology-backed economic structure, APAC is expected to emerge as the fastest-growing province in social media analytics solutions demand during the forecast period.
Key players in the market:
Some of the key players profiled in the Social Media Analytics Market include Adobe, Brandwatch, Cision, Clarabridge, Crimson Hexagon, Digimind, Frrole, IBM, MavSocial, Meltwater, MetaQuotes Software, Netbase, Oktopost, Oracle Corporation, Prudence Analytics and Software Solutions, SAS Institute, Simplify360, Socialbakers, SpreadFast, Sprout Social, Sysomos, Talkwalker.
Key developments:
In September 2021: IBM announced that it integrates AI and automation capabilities in its Watson Assistant tool that will help businesses to improve customer service experiences across multiple channels.
In January 2019: Talkwalker, acquired by Marlin Equity Partners, a global private equity firm. The acquisition allows the company to leverage Marlin's operational resources and expertise in nurturing technology businesses. It enables Talkwalker to scale its business, as it enters a new phase of development as the provider of analytics to the PR and marketing industry.
In June 2021: Adobe introduced an AI-powered live search for Adobe Commerce. Adobe Commerce merchants can provide their shoppers with relevant and personalized search results as per their requirements.
Components Covered:
• Services
• Software
Deployment Models Covered:
• Cloud
• On-Premises
Analytics Types Covered:
• Diagnostic Analytics
• Predictive Analytics
• Descriptive Analytics
• Prescriptive Analytics
Solutions Covered:
• Consumable Analytics
• Data Aggregation
• Meaning Extraction
• Process orchestration
• Smart Filtering
• Stream Processing
Organization Sizes Covered:
• Large Enterprises
• Small and Medium-Sized Enterprises
Applications Covered:
• Competitive Intelligence
• Customer Experience Management
• Public Safety and Law Enforcement
• Risk Management and Fraud Detection
• Sales and Marketing Management
End Users Covered:
• Banking, Financial Services, and Insurance (BFSI)
• Energy and Utilities
• Government and Defense
• Healthcare and Life Sciences
• Manufacturing
• Media and Entertainment
• Retail and Ecommerce
• Telecommunications and IT
• Transportation and Logistics
• Travel and Hospitality
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Social Media Analytics Market, By Component
5.1 Introduction
5.2 Services
5.2.1 Professional Services
5.2.1.1 Consulting Services
5.2.1.2 Support and Maintenance
5.2.2 Managed Services
5.3 Software
6 Global Social Media Analytics Market, By Deployment Model
6.1 Introduction
6.2 Cloud
6.3 On-Premises
7 Global Social Media Analytics Market, By Analytics Type
7.1 Introduction
7.2 Diagnostic Analytics
7.3 Predictive Analytics
7.4 Descriptive Analytics
7.5 Prescriptive Analytics
8 Global Social Media Analytics Market, By Solution
8.1 Introduction
8.2 Consumable Analytics
8.3 Data Aggregation
8.4 Meaning Extraction
8.5 Process orchestration
8.6 Smart Filtering
8.7 Stream Processing
9 Global Social Media Analytics Market, By Organization Size
9.1 Introduction
9.2 Large Enterprises
9.3 Small and Medium-Sized Enterprises
10 Global Social Media Analytics Market, By Application
10.1 Introduction
10.2 Competitive Intelligence
10.3 Customer Experience Management
10.4 Public Safety and Law Enforcement
10.5 Risk Management and Fraud Detection
10.6 Sales and Marketing Management
11 Global Social Media Analytics Market, By End User
11.1 Introduction
11.2 Banking, Financial Services, and Insurance (BFSI)
11.3 Energy and Utilities
11.4 Government and Defense
11.5 Healthcare and Life Sciences
11.6 Manufacturing
11.7 Media and Entertainment
11.8 Retail and Ecommerce
11.9 Telecommunications and IT
11.10 Transportation and Logistics
11.11 Travel and Hospitality
12 Global Social Media Analytics Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 Adobe
14.2 Brandwatch
14.3 Cision
14.4 Clarabridge
14.5 Crimson Hexagon
14.6 Digimind
14.7 Frrole
14.8 IBM
14.9 MavSocial
14.10 Meltwater
14.11 MetaQuotes Software
14.12 Netbase
14.13 Oktopost
14.14 Oracle Corporation
14.15 Prudence Analytics and Software Solutions
14.16 SAS Institute
14.17 Simplify360
14.18 Socialbakers
14.19 SpreadFast
14.20 Sprout Social
14.21 Sysomos
14.22 Talkwalker
List of Tables
1 Global Social Media Analytics Market Outlook, By Region (2020-2028) (US $MN)
2 Global Social Media Analytics Market Outlook, By Component (2020-2028) (US $MN)
3 Global Social Media Analytics Market Outlook, By Services (2020-2028) (US $MN)
4 Global Social Media Analytics Market Outlook, By Professional Services (2020-2028) (US $MN)
5 Global Social Media Analytics Market Outlook, By Managed Services (2020-2028) (US $MN)
6 Global Social Media Analytics Market Outlook, By Software (2020-2028) (US $MN)
7 Global Social Media Analytics Market Outlook, By Deployment Model (2020-2028) (US $MN)
8 Global Social Media Analytics Market Outlook, By Cloud (2020-2028) (US $MN)
9 Global Social Media Analytics Market Outlook, By On-Premises (2020-2028) (US $MN)
10 Global Social Media Analytics Market Outlook, By Analytics Type (2020-2028) (US $MN)
11 Global Social Media Analytics Market Outlook, By Diagnostic Analytics (2020-2028) (US $MN)
12 Global Social Media Analytics Market Outlook, By Predictive Analytics (2020-2028) (US $MN)
13 Global Social Media Analytics Market Outlook, By Descriptive Analytics (2020-2028) (US $MN)
14 Global Social Media Analytics Market Outlook, By Prescriptive Analytics (2020-2028) (US $MN)
15 Global Social Media Analytics Market Outlook, By Solution (2020-2028) (US $MN)
16 Global Social Media Analytics Market Outlook, By Consumable Analytics (2020-2028) (US $MN)
17 Global Social Media Analytics Market Outlook, By Data Aggregation (2020-2028) (US $MN)
18 Global Social Media Analytics Market Outlook, By Meaning Extraction (2020-2028) (US $MN)
19 Global Social Media Analytics Market Outlook, By Process orchestration (2020-2028) (US $MN)
20 Global Social Media Analytics Market Outlook, By Smart Filtering (2020-2028) (US $MN)
21 Global Social Media Analytics Market Outlook, By Stream Processing (2020-2028) (US $MN)
22 Global Social Media Analytics Market Outlook, By Organization Size (2020-2028) (US $MN)
23 Global Social Media Analytics Market Outlook, By Large Enterprises (2020-2028) (US $MN)
24 Global Social Media Analytics Market Outlook, By Small and Medium-Sized Enterprises (2020-2028) (US $MN)
25 Global Social Media Analytics Market Outlook, By Application (2020-2028) (US $MN)
26 Global Social Media Analytics Market Outlook, By Competitive Intelligence (2020-2028) (US $MN)
27 Global Social Media Analytics Market Outlook, By Customer Experience Management (2020-2028) (US $MN)
28 Global Social Media Analytics Market Outlook, By Public Safety and Law Enforcement (2020-2028) (US $MN)
29 Global Social Media Analytics Market Outlook, By Risk Management and Fraud Detection (2020-2028) (US $MN)
30 Global Social Media Analytics Market Outlook, By Sales and Marketing Management (2020-2028) (US $MN)
31 Global Social Media Analytics Market Outlook, By End User (2020-2028) (US $MN)
32 Global Social Media Analytics Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2020-2028) (US $MN)
33 Global Social Media Analytics Market Outlook, By Energy and Utilities (2020-2028) (US $MN)
34 Global Social Media Analytics Market Outlook, By Government and Defense (2020-2028) (US $MN)
35 Global Social Media Analytics Market Outlook, By Healthcare and Life Sciences (2020-2028) (US $MN)
36 Global Social Media Analytics Market Outlook, By Manufacturing (2020-2028) (US $MN)
37 Global Social Media Analytics Market Outlook, By Media and Entertainment (2020-2028) (US $MN)
38 Global Social Media Analytics Market Outlook, By Retail and Ecommerce (2020-2028) (US $MN)
39 Global Social Media Analytics Market Outlook, By Telecommunications and IT (2020-2028) (US $MN)
40 Global Social Media Analytics Market Outlook, By Transportation and Logistics (2020-2028) (US $MN)
41 Global Social Media Analytics Market Outlook, By Travel and Hospitality (2020-2028) (US $MN)
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
