The Social Media Analytics Market is expected to grow from USD 7.26 billion in 2020 to USD 25.96 billion by 2026 at a CAGR of 23.3% from 2020 to 2026.
Social media analytics is a process utilized to collect data from various social media websites and analyze the collected data with the help of social media analytics tools to make business decisions. Social media analytics is used in several functions; however, the primary use of the technology is to extract customer sentiments to align marketing and customer service activities. Some of the key drivers drive the growth of the social media analytics market growth all over the world. One of the significant drivers is the rising number of social media users. With the surging number of social media users, the business is adopting social media analytics as a tool to reach their audience, and in this way, the social media analytics market is expanding. Moreover, the competition is rising for businesses and they are detecting new ways to minimize their expenses. Companies require the business information, coupled with customers’ data, and find out regarding their customers. Customers nowadays are demanding higher quality of products and services at lesser prices and rapid delivery. Analytics is assisting business to attain their goals. Social media analytics helps in analyzing the unorganized data to respond to dynamic markets to obtain high sales and profit. Businesses can utilize social media analytics to enhance their market presence and to obtain customer reviews, and this is another driver which is propelling the social media analytics market. On the other hand, the complexities in the analytical workflow will hamper the market growth.
Furthermore, the cloud technology deployment has increased in the past few years. The providers are always seeking to make sure they are offering effectual and economical solutions. It is projected that cloud computing to increase at a higher rate in the coming years owing to its range of features, pliability and less costs. Vendors are deploying the SaaS model to offer social media analytics over the cloud which provides huge opportunities for the market. In addition to the rising adoption of social media analytics among small and medium-sized enterprises will create opportunities for social media analytics market expansion.
The global Social Media Analytics Market is segregated on the basis of Application as Customer Segmentation & Targeting, Competitor Benchmarking, Multichannel Campaign Management, Customer Behavioral Analysis and Marketing Management. Based on End User the global Social Media Analytics Market is segmented in Media & Entertainment, Travel & Hospitality, IT & Telecom, Retail and Others.
The global Social Media Analytics Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Social Media Analytics Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Oracle Corporation, IBM, Salesforce, Netbase, SAS Institute and others are among the major players in the global Social Media Analytics Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Social Media Analytics Market has been segmented as below:
Social Media Analytics Market, By Application
Social Media Analytics Market, By End User
Social Media Analytics Market, By Region
Social Media Analytics Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Social Media Analytics Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Social Media Analytics Market share. Major industry players with significant revenue share include Oracle Corporation, IBM, Salesforce, Netbase, SAS Institute and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Social Media Analytics Market, By Application
5.1. Key Points
5.2. Customer Segmentation & Targeting
5.3. Competitor Benchmarking
5.4. Multichannel Campaign Management
5.5. Customer Behavioral Analysis
5.6. Marketing Management
6. Social Media Analytics Market, By End User
6.1. Key Points
6.2. Media & Entertainment
6.3. Travel & Hospitality
6.4. IT & Telecom
6.5. Retail
6.6. Others
7. Competitive Landscape
7.1. Introduction
7.2. Start-up companies- Social Media Analytics Market
7.3. Recent Developments
7.3.1. Mergers & Acquisitions
7.3.2. New Product Developments
7.3.3. Portfolio/Production Capacity Expansions
7.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
7.3.5. Others
8. Company Profile
8.1. Oracle Corporation
8.2. IBM
8.3. Salesforce
8.4. Netbase
8.5. SAS Institute
8.6. Clarabridge
8.7. Talkwalker
8.8. Sysomos
8.9. Gooddata
8.10. Crimson Hexagon
8.11. Adobe
8.12. Brandwatch
8.13. Digimind
8.14. Meltwater
8.15. SpreadFast
8.16. Cision
8.17. Simplify360
8.18. Hootsuite
8.19. Sprout ocial
8.20. MetaQuotes Software
Social Media Analytics Market, By Application
Social Media Analytics Market, By End User
Social Media Analytics Market, By Company