According to IMARC Group’s latest report, titled “Social Media Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, 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.
Social media analytics (SMA) refers to the collection of data from social media platforms and gaining insights to optimize business decisions. It is widely used by organizations for customer behavioral analysis, competitor benchmarking, marketing management, multichannel campaign management, customer segmentation and targeting. SMA includes identification, extraction, cleaning, analysis and interpretation of data. It aids in improving the efficiency of customer service, understanding the needs and expectations of the customers and gaining insights for product improvement. It finds extensive application across various industries, such as retail, healthcare, hospitality, information technology (IT), telecommunication and banking, financial services and insurance (BFSI).
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Social Media Analytics Market Trends:
The global social media analytics (SMA) market is primarily being driven by the increasing number of active users on social media platforms and the rising penetration of high-speed internet. SMA assists organizations in gaining comprehensive customer behavioral analysis and obtaining customer data. Moreover, the widespread adoption of software-as-a-service (SaaS) models that provide SMA solutions over the cloud is providing a thrust to the market growth. These models offer enhanced reliability, security, flexibility, mobility and cost-effectiveness to enterprises. Other factors, including the increasing focus on targeted marketing and competitive intelligence, rising brand consciousness among the masses and widespread product adoption in small and medium enterprises (SMEs), are anticipated to drive the market toward growth.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Adobe Inc
- Brandwatch (Cision US Inc.)
- Clarabridge
- Hootsuite Inc.
- International Business Machine Corporation
- NetBase Quid
- Oracle Corporation
- com, inc.
- SAP SE
- SAS Institute Inc.
Key Market Segmentation:
The report has categorized the market based on component, deployment mode, organization size, application and end user.
Breakup by Component:
- Solutions
- Services
Breakup by Deployment Mode:
- On-premises
- Cloud-based
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:
- BFSI
- Media and Entertainment
- Travel and Hospitality
- IT and Telecom
- Retail
- Healthcare
- Others
Breakup by Region:
- 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 (2016-2021)
- Market Outlook (2022-2027)
- 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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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