Social Media Analytics Market

Analysis from GMI Research finds that the Social Media Analytics Market earned revenues of USD 4.2 billion in 2021 and forecast to touch USD 21.6 billion in 2029 will grow at a high CAGR 22.7%

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Key Drivers

The major factors driving the global social media analytics market includes growing number of social media users, increasing adoption of cloud solutions, and growing use of business intelligence. Growing adoption of social media management software across various end-use industries including e-commerce, healthcare, telecom, media & entertainment, and manufacturing will further fuel the market size. Further, the availability of cost-efficient tools has encouraged the adoption of social media analytics by small businesses, contributing to the market growth. With the help of SMA, users can make real-time reports about company’s profile on social media websites which improves the productivity and efficiency of company, thereby surging the market growth. Increasing emphasis on customer feedback, rising penetration of smartphones and internet, and inclination towards superior quality and low-priced products are expected to offer enormous opportunities to the market. Increasing adoption of cloud-based and AI-driven social media analytics solutions among hospitality, retail, and travel, to boost the market growth. The growing use of AI-based services in analytics across developed countries, including the U.K., the United States, France, Japan, will boost the market growth.

With the rising penetration of internet and smartphones, the use of social media networking sites has increased, driving the market growth. Moreover, the growing emphasis of organizations on analyzing sales to expand their market presence due to the growing awareness towards better quality and low-priced products and fast delivery of services will offer enormous opportunities to the market.

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Deployment Model Segment Analysis

Cloud segment is forecast to witness a higher CAGR during the forecast period, owing to the increasing adoption of cloud-based deployment models to upgrade business capabilities. Further, more storage capacity, improved performance, flexibility, and cost-efficiency characteristics of cloud deployment are expected to propel the Social Media Analytics Market Size. On-premises deployment model is estimated to lead the market due to the accelerating penetration of mobile devices, laptops, and PCs with internet access. Increasing inclination of consumers towards digital technologies and social media platforms for online shopping, communication, will boost the market growth.

End User Segment Analysis

The retail segment is predicted to hold a larger share during the upcoming years, due to the accelerating penetration of social media for online shopping and other e-commerce activities. Growing prominence of social media platforms across retail businesses in order to predict marketing trends, promotional efficiency, competitor ranking, will boost the market growth.

Application – Segment Analysis

Risk Management and Fraud Detection application is predicted to hold a larger share over the forecast period. Social Media analytical tools extract and analyze data from different sources, thus helping organizations to mitigate fraudulent activities which stands to be a major factor fueling the application’s growth. Sales and Marketing management will lead the market over the forecast period, primarily because of the growing use of analytical tools in marketing applications to develop a broad customer base.

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Regional – Segment Analysis:

North America is estimated to dominate the market over the coming years, attributed to the accelerating internet penetration, ongoing technological advancements, and rapid digitalization. Increasing usage of social media networks as a marketing tool across different industries to gain insight about the consumer behavior to enhance the decision-making process will bolster the market growth. Whereas Asia Pacific is projected to grow at a higher CAGR over the forecast period, owing to the increasing use of social media analytics among small and medium enterprises across emerging economies including Japan, India, and China. With the accelerating penetration of smartphones, the use of advanced online media strategies has increased, driving the regional growth.

Top Market Players

Various notable players operating in the market include Oracle, Salesforce.com, inc., IBM Corporation, SAS Institute Inc., Adobe, Clarabridge, NetBase Quid, Brandwatch, Talkwalker Inc., Digimind, among others. 

Key Developments:

• • • In 2021, Oracle, Big Red announced a UX update and new AI-powered capabilities to its Analytics Cloud service as part of its Oracle Live virtual event series.
    • In 2021, Salesforce.com announced expansions and additions to both its Commerce Cloud and Marketing Cloud offerings. Moreover, it has decided to align WhatsApp with Marketing Cloud.
    • In 2019, Digimind collaborated with TrustedOut with the focus to enhance its decision-making for brand safety managers, Business Intelligence (BI) analysts, and Public Relations (PR) professionals by employing analytical tools from their own set of databases.
    • In 2021, Adobe launched an AI-powered live search for Adobe Commerce where merchants can offer their shoppers with relevant and customized search results.
    • In 2021, Google Marketing Platform introduced a unified solution, Ads creative studio. It will help customers to develop and innovate advertisements with an interactive and user-friendly interface.
    • In 2021, Salesforce designed a new low code tool for developers on its lightning platform. The tool comes with AI-driven data protection, identity management, and establishes capabilities to help teams drive more business.
    • In 2019, Digimind entered into a partnership with TrustedOut. This collaboration was intended to enhance its decision-making for Business Intelligence (BI) analysts, brand safety managers, and Public Relations (PR) professionals by using analytical tools from their own set of databases.

Segments covered in the Report:

The global Social Media Analytics market has been segmented on the basis of Component, Deployment Model, Organization Size, Application, Vertical and regions. Based on Component, the market is segmented into Software and Services. The Services segment is further categorized into Professional Services and Managed Services. The Professional Services is further categorized into Consulting and Training & Education. Based on Deployment Model, the market is segmented into On-premises and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small and Medium-sized Enterprises (SMEs). Based on Application the market is segmented into Sales and Marketing Management, Customer Experience Management, Competitive Intelligence, Risk Management and Fraud Detection, Public Safety and Law Enforcement and Others. Based on Vertical, the market is segmented into BFSI, Telecommunications and Information Technology (IT), Retail and eCommerce, Healthcare and Life Sciences, Media and Entertainment, Government and Defense, Travel and Hospitality and Others. 

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Key questions answered in this research report:

• • At what pace is global Social Media Analytics market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Social Media Analytics market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Social Media Analytics market?
  • Which Component generated maximum revenues in 2021 and identify the most promising Component during the forecast period?
  • What are the various Deployment Model areas of global Social Media Analytics market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Social Media Analytics Market by Component

• • Software
  • Services
  • Professional Services
    • Consulting
    • Training & Education
  • Managed Services

Global Social Media Analytics Market by Deployment Model

• • On-premises
  • Cloud

Global Social Media Analytics Market by Organization Size

• • Large Enterprises
  • Small and Medium-sized Enterprises (SMEs)

Global Social Media Analytics Market by Application

• • Sales and Marketing Management
  • Customer Experience Management
  • Competitive Intelligence
  • Risk Management and Fraud Detection
  • Public Safety and Law Enforcement
  • Others

Global Social Media Analytics Market by Vertical

• • BFSI
  • Telecommunications and Information Technology (IT)
  • Retail and eCommerce
  • Healthcare and Life Sciences
  • Media and Entertainment
  • Government and Defense
  • Travel and Hospitality
  • Others

Global Social Media Analytics Market by Region

• • North America Social Media Analytics Market (Option 1: As a part of the free 25% customization)
    • By Component
    • By Deployment Model
    • By Organization Size
    • By Application
    • By Vertical
    • US Market All-Up
    • Canada Market All-Up
  • Europe Social Media Analytics Market (Option 2: As a part of the free 25% customization)
    • By Component
    • By Deployment Model
    • By Organization Size
    • By Application
    • By Vertical
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Social Media Analytics Market (Option 3: As a part of the free 25% customization)
    • By Component
    • By Deployment Model
    • By Organization Size
    • By Application
    • By Vertical
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Social Media Analytics Market (Option 4: As a part of the free 25% customization)
    • By Component
    • By Deployment Model
    • By Organization Size
    • By Application
    • By Vertical
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Social Media Analytics (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Oracle
  • com, inc.
  • IBM Corporation
  • SAS Institute Inc.
  • Adobe
  • Clarabridge
  • NetBase Quid
  • Brandwatch
  • Talkwalker Inc.
  • Digimind