IMARC Group, a leading market research company, has recently released a report titled “Social Media Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global social media analytics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Social Media Analytics Market?
The global social media analytics market size reached US$ 9.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 36.4 Billion by 2028, exhibiting a growth rate (CAGR) of 21.4% during 2023-2028.
What are Social Media Analytics?
Social media analytics serves as a tool that aids in the monitoring, gathering, and assessing of data from social networking platforms to facilitate well-informed business choices. It enables companies to comprehend current trends, promote customer interaction, recognize valuable attributes for products and services, and establish connections with external partners and channels. Social media analytics even help to understand social media performance, generate tailored reports, monitor important social media metrics, and examine real-time brand perception and customer demographics. Consequently, it finds extensive applications across several sectors, such as banking, hospitality, media, information technology (IT), telecommunication, retail, healthcare, etc.
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What are the Growth Prospects and Trends in the Social Media Analytics Industry?
The social media analytics market is primarily driven by the elevating need for advanced analytics systems among organizations to gain real-time insights from social media interactions to achieve smooth business operations. Furthermore, the increasing usage of social media networking sites owing to the expanding internet penetration and the rising sales of smartphones is acting as another significant growth-inducing factor. Additionally, the market is also positively influenced by the escalating emphasis among businesses on prioritizing sales analysis to enhance their market presence and gain a competitive advantage. Moreover, the growing focus on generating brand awareness and the shifting preferences toward higher quality, affordable products, and fast service delivery are further catalyzing the global market. Besides this, the emerging trend of incorporating a software-as-a-service (SaaS) model that allows the utilization of social media analytics on the cloud for improved flexibility, reliability, scalability, and cost-effectiveness will continue to bolster the market social media analytics market over the forecasted period.
Who are the Key Players Operating in the Social Media Analytics Market?
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Adobe Inc
- Brandwatch (Cision US Inc.)
- Hootsuite Inc.
- International Business Machine Corporation
- NetBase Quid
- Oracle Corporation
- com, inc.
- SAP SE
- SAS Institute Inc.
What is Included in Market Segmentation?
The report has categorized the market based on component, deployment mode, organization size, application and end user.
Breakup by Component:
Based on Deployment Mode:
Analysed 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
Based on End User:
- Media and Entertainment
- Travel and Hospitality
- IT and Telecom
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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