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Social Media Analytics Market by Application, Component, Analytics Type, Deployment, Organization Size, Industry Vertical, and Region - Global forecast to 2022
Social Media Analytics Market by Application (Sales and Marketing Management, Customer Experience Management, Competitive Intelligence), Component, Analytics Type, Deployment, Organization Size, Industry Vertical, and Region - Global forecast to 2022
Increased focus on the market and competitive intelligence is expected to propel the social media analytics market growth
The global social media analytics market size is expected to grow from USD 2.71 billion in 2017 to USD 9.54 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 28.6%. The increasing user engagement in social media using smartphones and the need for social media measurement to enhance the customer experience is expected to be fueling the growth of the social media analytics market. Complexities in the analytical workflow is the biggest restraint for the social media analytics market. Voluminous data generation through social media platforms, the increasing cloud adoption trends, and the high adoption rate of social media analytics solutions among the Small and Medium-Sized Enterprises (SMEs) are expected to create opportunities for the growth of this market.
Sales and marketing management application is expected to record the largest market size in 2017 in the social media analytics market
The need to analyze unstructured data to understand customer behaviors and detect the trend are expected to drive the sales and marketing management application in the global social media analytics market. Advanced analytics, such as predictive and descriptive analytics proved to be beneficial to analyze the historical and real-time data, and to build effective marketing strategies by identifying the market trends. Predictive analytics helps predict the sales figures and take necessary actions proactively.
Asia Pacific (APAC) is projected to grow at the highest rate during the forecast period
The growth of the social media analytics market in APAC has started to gain momentum and is expected to witness the highest growth rate in the next few years. The rising need to generate insights from the social media data, supplemented with competently designed social media analytics solutions offered by the vendors present in this region, have led APAC to become a highly potential market. This region is witnessing an increasing demand for cloud-driven social media analytics solutions.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of the profiles of the primary participants is given below:
• By Company: Tier 1: 22%, Tier 2: 30%, and Tier 3: 48%
• By Designation: C-level: 30%, Director level: 45%, and Others: 25%
• By Region: North America: 48%, Europe: 30%, and APAC: 22%
The key vendors profiled in the report are as follows:
1. Salesforce (US)
2. Oracle Corporation (US)
3. SAS Institute Inc. (US)
4. Adobe Systems Incorporated (US)
5. International Business Machines Corporation (US)
6. GoodData Corporation (US)
7. Brandwatch (UK)
8. Clarabridge, Inc. (US)
9. Digimind (US)
10. Crimson Hexagon, Inc. (US)
11. Sysomos (Canada)
12. Simply Measured, Inc. (US)
13. Talkwalker Inc. (Luxembourg)
14. Unmetric Inc. (US)
15. Netbase Solutions, Inc. (US)
16. Cision US Inc. (US)
17. Simplify360, Inc. (India)
18. Hootsuite Media Inc. (Canada)
19. Meltwater (US)
20. Germinait Solutions Private Limited (India)
21. Socialbakers (US)
22. Spredfast, Inc. (US)
23. Sprinkler, Inc. (US)
24. Lithium Technologies, Inc. (US)
25. Synthesio (US)
26. Tableau Software Inc. (US)
Research Coverage The report segments the social media analytics market based on components, which include software and services; the services segment is segmented into managed services and professional services. Under professional services, the report is further segmented into support and maintenance, and consulting. Based on deployment models, the market is segmented into on-premises and cloud. Under the organization sizes, it is segmented into SMEs and large enterprises, whereas under the application segment, 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 (workforce management and compliance management). Under the analytics types, the market includes predictive, prescriptive, diagnostic, and descriptive analytics. Under the industry verticals, the market includes Banking, Financial Services, and Insurance (BFSI); telecommunications and IT; retail and eCommerce; healthcare and life sciences; manufacturing; government and defense; energy and utilities; media and entertainment; travel and hospitality; transportation and logistics; and others (education, research, real estate, and outsourcing). The regions are segmented into North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.
Reasons to buy the Report The report will help the market leaders/new entrants in this market in the following ways:
This report segments the social media analytics market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different industry verticals and regions.
1. The report helps stakeholders to understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
2. This report will help stakeholders to better understand the competitors and gain more insights to enhance their position in the business. The competitive landscape section includes new product launches/upgrades; partnerships, collaborations; acquisitions, and expansions.