Social media analytics refers to the process of collecting data from social media platforms used to analyze the data to make business decisions. With the availability of a huge amount of data every second, the set of analytical tools enable end-users to listen, monitor and analyze and have insights into the data collected. The social media analytical tools also integrate certain advanced techniques such as predictive, prescriptive and descriptive. The global social media analytics market is expected to boost in the near future. The various factors contribute to the social media analytics market growth include increasing number of social media users and rise in expenditure on analytics.
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Additionally, an increasing number of social media users majorly drives the market by enabling companies to gain better data about customers preferences and their behavioral analysis. Moreover, an increase in cloud adoption and high rate of deployment by the companies is expected to provide major growth opportunity to the market. However, the data analysis process is highly complex and time-consuming which will hinder the growth of the market. Further, social media analytics tools can breach customer privacy and there are chances that the companies will exchange customer’s data for mutual benefits.
The global social media analytics market segmented on the basis of application, mode of deployment and end-user. On the basis of mode of deployment, the market is bifurcated into on-demand and on-premise. Cloud-based deployment is expected to grow significantly attributed to increasing the adoption of cloud at a fast pace due to its flexibility and cost-effectiveness over on-premise deployment. On the basis of application, the market is further segmented into customer experience management, sales and marketing management, risk management, competitive intelligence, and fraud detection, public safety and law enforcement, others. On the basis of end-user, the social media analytics market is segmented into media & entertainment, travel & hospitality, IT & telecom, retail, and others (BFSI and healthcare).
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The global social media analytics market is further segmented on the basis of the region including North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is expected to have a significant market share during the forecast period owing to the presence of prominent market players. Further, Asia-Pacific is expected to grow at the fastest rate due to the massive amount of active users of social media platforms in countries such as China, Japan, and India. The key players operating in the global social media analytics market are Oracle Corp., Adobe Systems, Inc., IBM Corp., Netbase Solutions, Inc., Hootsuite Media, Inc., SAP SE, SAS Institute, Inc., Google, LLC, and Salesforce.com, Inc.
Global Social Media Analytics Market- Segmentation
By Type
- Media & Entertainment
- Travel & Hospitality
- IT & Telecom
- Retail
- Others (BFSI, healthcare)
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- Regions
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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