Social Media Analytics Market size to grow by USD 7,260.33 million from 2022 to 2027; Increasing usage of social media analytics to enhance brand loyalty boosts the market - Technavio

NEW YORK, Aug. 14, 2023 /PRNewswire/ -- The social media analytics market size is set to grow by USD 7,260.33 million from 2022 to 2027, progressing at a CAGR of 23.29% during the forecast period. Discover Application Software industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!

The social media analytics market covers the following areas:

• Social Media Analytics Market Sizing
• Social Media Analytics Market Forecast
• Social Media Analytics Market Analysis

Company Landscape

The social media analytics market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Some vendors who are experts in the process industry are trying to increase their presence and market share by horizontally integrating with system integrators. End-users in discrete industries rely on their experiences from past purchases, based on which they maintain future relationships with vendors. This enables global and established RPA vendors to dominate the local and regional vendors in terms of quality, durability, reliability, and technological innovations. Hence, the competition among the vendors in the global RPA market is expected to intensify during the forecast period.

• Agorapulse SAS: The company offers social media analytics such as social media reports, sentiment analysis, third-party cookies, and engagement analysis.
• Adobe Inc: The company offers social media analytics such as Adobe campaigns, adobe audience manager, adobe experience manager, and customer acquisition.
• Digimind: The company offers social media analytics such as Cision's social media listening and monitoring and analyses.

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Social Media Analytics Market - Market Segmentation

The report extensively covers market segmentation by application (sales and marketing management, customer experience management, competitive intelligence, risk management, and public safety and law enforcement), end-user (retail, government, media and entertainment, travel, and others), deployment (on-premise and cloud), and geography (North America, APAC, Europe, South America, and Middle East and Africa). 

• The market share growth by the sales and marketing management segment will be significant during the forecast period. Consumer reviews and feedback help in sales and marketing management. The analytics tools offer meaningful insights into the marketing techniques adopted by end users. Organizations leverage the information available on the Internet to improve their sales and marketing strategies. Thus, SMA helps companies to boost sales by streamlining their marketing techniques. Hence, such factors are expected to drive the growth of the segment during the forecast period.

Social Media Analytics Market - Regional Market Outlook

North America is estimated to account for 40% of the market growth during the forecast period. Some of the key countries where there is significant adoption of social media in North America include the US and Canada. The rise in the use of social media has incentivized companies to provide advanced SMA solutions to enterprises. Additionally, several market players in these regions are forming strategic partnerships to improve their product offerings and expand their geographic presence. Hence, such factors are expected to drive market growth in the region during the forecast period.

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Companies Mentioned

• Agorapulse SAS
• Adobe Inc.
• Brand24 Global Inc.
• Cision US Inc.
• Digimind
• GoodData Corp.
• International Business Machines Corp.
• Khoros LLC
• Meltwater NV
• NetBase Solutions Inc.
• Oracle Corp.
• Reputation Group of Companies
• Salesforce.com Inc.
• SAP SE
• SAS Institute Inc.
• Simplify360
• Sprout Social Inc.
• Talkwalker Sarl
• MetaQuotes Ltd.
• Big Propeller LLC

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• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report! 

Social Media Analytics Market - Market Dynamics

Major Driver

The increasing use of social media analytics to enhance brand loyalty drives market growth during the forecast period.  Various promotions on different social media platforms significantly contribute to brand loyalty. Additionally, these analytics tools enable direct communication between brands and customers, fuelling customer interaction and offering insights into consumer behavior. Furthermore, as per research, many customers look for product information, reviews, and suggestions through social media platforms which influences their buying decision. Hence, such factors are expected to drive market growth during the forecast period.

Major Trend

Increasing demand for online security is a primary trend influencing the social media analytics market. Social media sites store sensitive personal information that is prone to data security breaches. So, online security is a concern for both users and major corporations. However, Snapchat is a popular online photo-sharing service because of its safe and private conversations. For instance, in 2015, Ashley Madison, which is a discrete dating website, was hacked by a hacker group called The Impact Team that condemned the morals of the company and demanded the shutdown of the site. Since the company did not comply, the hackers released the private information of more than 30 million users. Thus, data leaks have increased the demand for online security. Hence, social media analytics helps social media platforms in performing a close analysis of the data. Hence, such factors are expected to drive market growth during the forecast period.

Significant Challenge

Deciphering unstructured data is a significant challenge impeding the social media analytics market. Social media analytical tools help users analyze and monitor the popularity of their web pages by processing vast amounts of unstructured data. Organizations in several industries carry out research and invest in tools, such as social media analytics, to extract meaning from this data and drive strategic business decisions. As a result of the growing adoption of the Internet and social media sites, there has been an explosion of companies trying to mine value from the overwhelming amount of data present on these social media sites in the form of posts, emails, /images, product reviews, and others. Hence, such factors may have a negative impact on the market which in turn hinders the market growth during the forecast period.

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by End-user

8 Market Segmentation by Deployment

9 Customer Landscape

10 Geographic Landscape

11 Drivers, Challenges, and Trends

12 Vendor Landscape

13 Vendor Analysis

14 Appendix

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