Social Media Analytics Market Size, Share, Growth Report 2030

Social Media Analytics Market

Social Media Analytics Market By Software And Service For (Sales And Marketing Management, Customer Experience Management, Competitive Intelligence, Risk Management And Fraud Detection, Public Safety And Law Enforcement And Others). Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028

Category: Technology & Media Report Format : PDF Pages: 170 Report Code: ZMR-1487 Published Date: Aug-2021 Status : Published

The global Social Media Analytics market accounted for USD 3.60 Billion in 2020 and is expected to reach USD 22.80 Billion by 2028, growing at a CAGR of 21% from 2021 to 2028.

Global Social Media Analytics Market Overview

The global Social Media Analytics market accounted for USD 3.60 Billion in 2020 and is expected to reach USD 22.80 Billion by 2028, growing at a CAGR of 21% from 2021 to 2028.      

Social media analytics (SMA) tools help in forming, understanding, and leveraging communities for societal activities and business offerings. Organizations are investing time, money, and efforts in social media to urge valuable data and it can mine those hidden treasures which may increase the revenue of the organization. Social media analytics tool provides a thought of customer’s needs and requirements. Enterprises are using social media analytics tools to reinforce product and repair of business, competitive advantage alongside support customers, better target marketing efforts, and market innovation. Social Media Analytics (SMA) also helps the user to make real-time reports which measure the performance of the team and company’s profile on social media websites and permit the user to share these customized reports for improving productivity and efficiency.

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COVID-19 Impact Analysis:

The lockdowns imposed by various countries to contain the spread of Covid-19 has impacted the global operations. However,  the pandemic has had a positive impact on the Social Media Analytics market growth. The global Social Media Analytics market has witnessed growth during the pandemic. This is mainly attributed to the fact that the COVID-19 pandemic situation has led to the rise in demand for public health surveillance and Sales and marketing management care. However, the rising difficulty in health care delivery has slightly challenged the market in 2021. Various scenarios have been analyzed based on inputs from various secondary sources and the current data available about the situation.

Growth Factors  

The key driving factors of the social media analytics market are the increasing usage of social media like youtube, Facebook, Linkedin, and Twitter that have encouraged enterprises to adopt social media analytics solutions in organizations. Additionally, increased competition and increased used of business intelligence are expected to drive the expansion of the worldwide social media analytics market. Complexities in the analytical workflow are the restraints for the market. However, the rising need for company’s product branding and therefore the improved ability to reply to customer requirements and wishes are helping to fuel the expansion of the social media analytics market, alongside increasing cloud adoption trend and increasing structure and unstructured data in SME across the world will boost the revenue of social media analytics market during the forecast period.

Report Scope:

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Segment Analysis Preview

The global social media analytics market can be segmented based on the deployment, component, type, application, end-users, and region. On-premises and cloud are two types of deployment segments.

 The component segment includes software and service, the service segment is further divided into managed service and professional service.  The software segment is expected to hold the highest market share market due to the demand for social media analytics software is rising in the organization. As organizations need a solution to measure, monitor, and analyze data to understand the customer’s sentiments, this software helps companies with data collection and data analysis.

Type segment covers predictive analytics, prescriptive analytics, diagnostic analytics, and descriptive analytics. The predictive analytics tool is expected to grow with the highest rate during the forecast period. The application segment includes sales and marketing management, customer experience management, competitive intelligence, risk management and fraud detection, public safety and law enforcement, and others. The sales and marketing management segment held the largest market share in 2016 and is expected to dominate during the upcoming period as it assists the organization in improving their businesses solutions by analyzing unstructured data and meaningful insights into customer behavior. 

The end-user segment has been segmented based on Banking, Financial Services, and Insurance (BFSI), Government and defense, Retail and eCommerce, Healthcare, Telecommunications and IT, Media, and entertainment, and others.  The retail and eCommerce segment is anticipated to hold the largest social media analytics market share between the years 2021-2028. 

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Regional Segment Analysis Preview

North America is projected to dominate the worldwide Social Media Analytics market whereas the APAC region is expected to grow at the highest CAGR during the upcoming period, due to the growing adoption of social media analytics software and services among SMEs across emerging countries such as China, Japan, and India. 

Key Market Players & Competitive Landscape

Key players profiled in the report include Salesforce, Oracle Corporation, SAS Institute Inc., Adobe Systems Incorporated, International Business Machines Corporation, GoodData Corporation, Unmetric Inc, Netbase Solutions, Inc., Cision US Inc., Simplify360, Inc., Hootsuite Media Inc., Meltwater, Germinait Solutions Private Limited, Brandwatch, Clarabridge, Inc, Digimind, Crimson Hexagon, Inc, Sysomos, Simply Measured, Inc., Socialbakers, Spredfast, Inc., Sprinkler, Inc., Lithium Technologies, Inc., Synthesio, and Tableau Software Inc and others.

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The Global Social Media Analytics market is segmented as follows:   

By Deployment

  • On-premises
  • Cloud

By Component

  • Software
  • Services
    • Managed services
    • Professional services

By Type Segment

  • Predictive analytics
  • Prescriptive analytics
  • Diagnostic analytics
  • Descriptive analytics

By Application

  • Sales and marketing management
  • Customer experience management
  • Competitive intelligence
  • Risk management and fraud detection
  • Public safety and law enforcement
  • Others 

By End-User

  • Banking, Financial Services, and Insurance 
  • Retail and E-Commerce
  • Government and defense
  • Healthcare 
  • Telecommunications and IT
  • Others 

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

Free Analysis

FrequentlyAsked Questions

The global Social Media Analytics market was valued at USD 3.60 Billion in 2020.

The global Social Media Analytics market is expected to reach USD 22.80 Billion by 2028, growing at a CAGR of 21% between 2021 to 2028.

Major growth drivers of the market are an increased focus on competitive intelligence and increasing user engagement of social media using smartphones.

North America has been leading the worldwide market and is anticipated to continue in the dominant position in the years to come.

Key players profiled in the report include Salesforce, Oracle Corporation, SAS Institute Inc., Adobe Systems Incorporated, International Business Machines Corporation, GoodData Corporation, Unmetric Inc, Netbase Solutions, Inc., Cision US Inc., Simplify360, Inc., Hootsuite Media Inc., Meltwater, Germinait Solutions Private Limited, Brandwatch, Clarabridge, Inc, Digimind, Crimson Hexagon, Inc, Sysomos, Simply Measured, Inc., Socialbakers, Spredfast, Inc., Sprinkler, Inc., Lithium Technologies, Inc., Synthesio, and Tableau Software Inc and others.

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