Global Social Media Analytics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Global Social Media Analytics Market: Overview

"The Social Media Analytics Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

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Social media analytics is software with processes that collects data from social media websites or applications. The analytics software then analyzes the data gathered using social media analytics tools. The outcome from these tools help in making strategic business decisions. Social media analytics is commonly used to mine customer sentiment to provides positive impact on marketing and customer service activities.

Global Social Media Analytics Market: Dynamics

Increasing focus to gain intelligent marketing and competitive business insights by various organizations across the globe is a key factor expected to drive growth of the global market over the forecast period.

Growing need to enhance the customer experience through social media measurements is another factor expected to support growth of the target market owing to its ability to provide brand positioning assessment, competitive research, campaign planning and measurement, performance benchmarking, industry and product trend discovery, and many more.

However, complex analytical workflow and associated with managing the increasing unstructured data within a single solution are major factors that could hamper global market growth to a certain extent.

Rising cloud adoption trends and high adoption rate of social media analytics solutions among small and medium scale enterprises are revenue growth opportunities for players operating in the global market. This in turn is expected to support growth of the target market in the coming 10 years.

Global Social Media Analytics Market: Segment Analysis

Social media analytics software offers benefits such as understand targeted audience, increase engagement and responsiveness, measure and improve brand awareness, and discover new trends

Global Social Media Analytics Market: Region Analysis

Increasing urbanization and digitalization in Asia Pacific countries such as India and China is a major factor expected to boost growth of the target market in this region.  Increasing number of small and medium scale enterprises is supporting the adoption of social media analytics owing to their need to increase customer base and awareness of their product offerings.

Market in North America is expected to contribute the highest revenue share in the target market, owing to favorable government and the availability of scalable infrastructure. The European market is expected to boost the growth of social media analytics owing to the increasing need to derive customer engagement metrics for the growth of the organizations. At the same time, increasing awareness regarding benefits such as improved business productivity offered by the key vendors in Latin America is a factor in supporting the growth of the target market in this region.

Global Social Media Analytics Market Segmentation:

Segmentation by Component:

• Software
• Services

Segmentation by Organization Size:

• Large Enterprises
• Small and Medium-Sized Enterprises (SME’s)

Segmentation by Deployment Mode:

• Cloud
• On-Premises

Segmentation by Industry Vertical:

• Food & Beverages
• Media and Entertainment
• Retail and Consumer Goods
• Transportation and Logistics
• Banking, Financial Services, and Insurance
• Information Technology and Telecommunications
• Others (Government, Manufacturing, Healthcare and Life Sciences, Travel and Hospitality, Energy and Utilities, Commercial, etc.)

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa