The global social media analytics market reached a value of US$ 7.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 29.1 Billion by 2027, exhibiting a CAGR of 22.06% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Social media analytics (SMA) is a tool that assists in tracking, collecting, and evaluating data from social networking platforms for making informed business decisions. It helps companies understand the latest trends, drive customer engagement, identify high-value features for products and services, and map third-party partners and channels. As a result, it finds applications worldwide for understanding social media performance, creating customized reports, keeping track of important social media metrics, and analyzing the brand image and customer demographics in real-time.
Social Media Analytics Market Trends:
Due to the coronavirus disease (COVID-19) outbreak, businesses around the world are striving for stability and survival to minimize the impact of the pandemic on overall operations and revenue. As a result, companies are relying on advanced analytics like SMA to understand the real-time scenario of the pandemic through social media interactions across the globe. Apart from this, the surging use of social media networking sites on account of the rising penetration of the Internet and boosting sales of smartphones is contributing to market growth. Moreover, organizations are focusing on analyzing sales to improve their market presence and gain a competitive edge. In addition, the rising brand consciousness and considerable shift towards better quality and low-priced products and fast delivery of services are influencing the demand for SMA. The tool helps in analyzing unstructured social data to respond to the dynamic market conditions and achieve higher goals and operational profitability. Furthermore, a software-as-a-service (SaaS) model is nowadays incorporated to enable the use of SMA solutions on the cloud. As cloud computing offers flexibility, reliability, scalability, and low costs, it is projected to influence the market positively.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global social media analytics market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment mode, organization size, application and end user.
Breakup by Component:
Breakup by Deployment Mode:
Breakup by Organization Size:
- Small and Medium Enterprises
- Large Enterprises
Breakup by Application:
- Customer Segmentation and Targeting
- Competitor Benchmarking
- Multichannel Campaign Management
- Customer Behavioral Analysis
- Marketing Management
Breakup by End User:
- Media and Entertainment
- Travel and Hospitality
- IT and Telecom
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Adobe Inc, Brandwatch (Cision US Inc.), Clarabridge, Hootsuite Inc., International Business Machines Corporation, NetBase Quid, Oracle Corporation, Salesforce.com, inc., SAP SE and SAS Institute Inc.
|Base Year of the Analysis
||Component, Deployment Mode, Organization Size, Application, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Adobe Inc, Brandwatch (Cision US Inc.), Clarabridge, Hootsuite Inc., International Business Machines Corporation, NetBase Quid, Oracle Corporation, Salesforce.com, inc., SAP SE and SAS Institute Inc.
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Key Questions Answered in This Report:
- How has the global social media analytics market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global social media analytics market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the deployment mode?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global social media analytics market and who are the key players?
- What is the degree of competition in the industry?