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The global social media analytics market size is forecast to increase by USD 7.26 billion between 2022 and 2027, accelerating at a CAGR of 23.29%. The market is propelled by drivers such as the growing emphasis on brand recognition through social media platforms, coupled with the role of analytics in enhancing brand loyalty. Advanced targeting options and heightened demand for online security characterize current trends in the market, catering to the evolving needs of businesses. However, challenges persist, including the time-intensive nature of social media analytics processes and the complexity of deciphering unstructured data, underscoring the importance of innovative solutions in this dynamic landscape. In 2017, the US held the largest market share, projecting an annual revenue of USD 0.36 billion. Market size, historical data (2017-2021), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
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The market is experiencing rapid growth fueled by technological advancements and the increasing adoption of advanced analytics tools by small and medium-scale organizations. These organizations leverage analytics solutions for efficient data collection, analysis, and interpretation to derive actionable insights. With a focus on key performance indicators (KPIs), audience analysis, and competitor analysis, businesses optimize their content and campaigns for better engagement and effectiveness. Real-time monitoring and sentiment analysis empower organizations to make informed decisions, while AI speech recognition and cloud-based analytical solutions enhance the accuracy and scalability of these processes.
In the market, emerging technologies continue to reshape the landscape, fueled by increasing internet penetration and a growing base of social media users. However, concerns over data security persist, driving demand for robust solutions, particularly those leveraging the cloud deployment model. These companies capitalize on the ubiquity of mobile phones, tablets, and internet access to provide insights derived from technological advancements. AI-driven social media analytics platforms enable businesses to analyze consumer feedback effectively, informing sales and marketing strategies. As online shopping and e-commerce flourish, organizations seek comprehensive social media analytics solutions to optimize their marketing efforts and enhance customer engagement. The sales and marketing segment of the market remains dynamic, offering opportunities for businesses to leverage the data for strategic advantage in a digital-first world.
The sales and marketing management segment was valued at USD 423.23 million in 2017 and continued to grow until 2021. The ways brands advertise, market, and promote their products have changed since the pandemic, forcing various businesses and brands to re-evaluate how their current and future marketing campaigns should be conducted. Many businesses are re-structuring their advertising, marketing, and promotional activities to generate sustained consumer interest and spending while maintaining sufficient returns on media spending using social media management software. Thus, such factors are expected to drive the growth of the segment during the forecast period.
North America is estimated to contribute 40% to the growth of the global market during the forecast period. The US and Canada are among the most technologically advanced countries and the pioneers in the adoption of these platforms globally. The increase in the use of social media has encouraged companies to offer advanced SMA solutions to enterprises. Companies in this region are forming strategic alliances to enhance their product offerings and increase their geographic presence. The market is also expected to grow due to increasing awareness among enterprises about SMA as an important platform for businesses to communicate with their customers. Hence, several companies in countries such as the US are raising funds to enhance SMA capabilities with the incorporation of new features. These factors will support the regional market during the forecast period.
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The market is witnessing rapid growth fueled by advancements in data collection and audience analysis techniques. With the integration of AI speech recognition and advanced technologies, organizations can now perform competitor analysis, content optimization, and campaign measurement with greater accuracy and efficiency. Accessible via mobile phones and tablets, these analytics platforms leverage internet access to provide real-time insights and metrics for small and medium-scale organizations. Key Performance Indicators (KPIs) serve as benchmarks for success, empowering businesses to make data-driven decisions and enhance their social media strategies in an ever-evolving digital landscape. Businesses leverage data preparation and modeling to extract insights from unstructured social data. Cloud adoption and Software-as-a-Service (SaaS) platforms streamline data management, enhancing scalability and accessibility. Effective data preparation transforms raw information into actionable intelligence, enabling informed decision-making. Advanced data modeling provides insights into market trends and customer behavior, empowering businesses to stay agile.
The market growth is significantly driven by the increasing use of social media analytics to enhance brand loyalty. Promotions on various social media platforms contribute to strengthening brand loyalty. Social media analytical tools facilitate direct communication between brands and customers, fostering customer interaction and providing insights into consumer behaviour.
Around 32% of global customers seek product information, reviews, and suggestions through social media platforms before making a purchase. In developed countries like the UK and the US, approximately 50% of the population relies on social media for purchase decisions. A strategic approach to open platforms empowers organizations to expand their customer base and cultivate customer loyalty. The growing emphasis on engaging existing customers and attracting new ones will fuel the demand during the forecast period.
The market is witnessing a key trend of increasing demand for online security. With social media sites storing personal information that can be exploited, both users and major corporations are concerned about online security. Platforms like Snapchat have gained popularity due to their safe and private communication features.
An example of a data breach's impact is the 2015 hacking of Ashley Madison, a discreet dating website, by The Impact Team hackers, who released the private information of over 30 million users. Such data leaks have heightened the need for online security. Established social networking platforms like Facebook and Twitter are introducing tools to enhance data security. This aids in conducting thorough data analysis on these platforms.
The Market is fragmented in nature. Some significant players include Agorapulse SAS, Adobe Inc., Brand24 Global Inc., Cision US Inc., Digimind, GoodData Corp.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
International Business Machines Corp., Khoros LLC, Meltwater NV, NetBase Solutions Inc., Oracle Corp., Reputation Group of Companies, Salesforce.com Inc., SAP SE, SAS Institute Inc., Simplify360, Sprout Social Inc., Talkwalker Sarl, MetaQuotes Ltd., and Big Propeller LLC
The market is experiencing rapid growth fueled by advanced technologies and the increasing importance of data-driven decision-making. Social media analytics platforms enable businesses to collect and analyze data, leveraging metrics and KPIs (Key Performance Indicators) to measure performance effectively. Audience and competitor analyses help in understanding user behavior and staying ahead of the competition, while content optimization and campaign measurement enhance engagement and ROI. Sentiment analysis and real-time monitoring provide valuable insights into brand perception and customer sentiment. Augmented Reality (AR) and blockchain solutions are revolutionizing social media engagement and cybersecurity measures ensure data protection. Self-learning systems and neuroscientific principles further enhance analytics capabilities, driving improved profit margins through informed decisions based on demographic and competitive information.
The market is witnessing remarkable growth, driven by advancements in technology and the proliferation of social media platforms. With the rise of internet penetration and the increasing number of social media users, the demand for advanced analytics solutions is soaring. Companies are leveraging AI-driven speech recognition and cloud-based analytical solutions to collect and analyze vast amounts of data, enabling comprehensive audience and competitor analysis. Data security concerns are addressed through secure cloud deployment models. Emerging technologies like AI-driven social media analytics are empowering organizations, from small to medium-scale, to derive valuable insights from consumer feedback and optimize their online presence. As online shopping and e-commerce continue to thrive, social media analytics companies play a crucial role in shaping marketing strategies and enhancing brand visibility.
The market is experiencing significant growth, driven by the integration of advanced technologies like AR (Augmented Reality) and the increasing demand for insightful data analysis. Businesses are leveraging social media platforms to gather demographic information, customer data, and customer sentiment information. This data is then used for performance monitoring, workforce management, and informed decision-making. With a focus on data identification, preparation, and modeling, companies employ various analytical methodologies to extract valuable insights. Visualization tools aid in presenting complex data in a comprehensible format. As businesses prioritize data-driven strategies, the market continues to evolve, offering innovative solutions to meet the growing demands of businesses worldwide.
The market research and growth report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
191 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 23.29% |
Market growth 2023-2027 |
USD 7.26 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
22.69 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 40% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agorapulse SAS, Adobe Inc., Brand24 Global Inc., Cision US Inc., Digimind, GoodData Corp., International Business Machines Corp., Khoros LLC, Meltwater NV, NetBase Solutions Inc., Oracle Corp., Reputation Group of Companies, Salesforce.com Inc., SAP SE, SAS Institute Inc., Simplify360, Sprout Social Inc., Talkwalker Sarl, MetaQuotes Ltd., and Big Propeller LLC |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Market Segmentation by Deployment
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
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