The social media analytics market is expected to reach US$ 7,862.1 Mn in 2025 and is projected to expand at a CAGR of 15.47% during the period from 2017 - 2025.
New research report offers a comprehensive analysis of the “Social Media Analytics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025“The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.
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Global Social Media Analytics Market: Snapshot
Social media analytics is the way of collecting data from different social media platforms such as Facebook, LinkedIn, and Twitter among others and analyzing that data to make a strategic business decisions. Social media analytics platform allows businesses to understand the consumer sentiments, intentions, and their choices for the particular service or product.
Growing popularity of the different social media platforms such as Facebook, Snap Chat, Twitter, LinkedIn, We Chat, and many more, proliferation of consumer generated social media data is expected to drive the social media analytics market.
Furthermore, growing smartphone adoption rate worldwide, increasing internet and social media penetration, and growing use of social media for the consumer engagement is also expected to add to the market’s growth.
Cloud-based Deployed Software Segment Contributes Maximum Market Share
The social media analytics market is segmented on the basis of component and end-use industry. On the basis of component, the social media analytics market is segmented into software and services.
The software segment is further bifurcated into on-premise based and cloud based deployed software. Cloud based deployed software segment contributes larger share in terms of revenue in the social media analytics market, as it provides low cost and ease of deployment option.
Furthermore, services segment is further sub-segmented into professional services, support & maintenance services, and others. Others segment includes education services and research services.
Software segment contributes major share in terms of revenue in the social media analytics market owing to their growing demand and adoption of social media analytics software across various industries to analyze the consumer generated social media data. However, services segment is expected to grow at a faster rate during the forecast period.
On the basis of end-use industry, the social media analytics market is segmented into BFSI, retail, telecommunication & IT, transportation & logistics, media & entertainment and others. Others segment includes industries such as healthcare, and education.
BFSI end-user segment is expected to hold the major share due to early adoption of the social media analytics platform. The adoption rate for the BFSI industry is higher, as it helps in monitoring the customer feedback, analyzing the competitor, finding out the prospects, and understanding the market comprehensively.
Moreover, the retail segment is projected to be the fastest growing segment during the forecast period.
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North America Emerges as Chief Regional Contributor
North America is the major contributor in the overall social media analytics market. The presence of major industry players and growing number of start-ups from the social media analytics domain along with the early adoption of the social media analytics platform is expected to drive the market in this region.
Furthermore, North America is a home to many social media channels including Facebook, Twitter, and LinkedIn among others that results into the proliferation of large number of companies providing social media analytics software. Asia Pacific is second largest region in terms of market share owing to growing adoption of social media analytics by various local industry players.
This growth in the Asia Pacific is attributed to the huge number of user base for the various social media channels across the prominent economies especially India and China. However, it is expected to grow at a significant rate during the forecast period.
The growth in Asia Pacific region is accountable from the countries such as India and China. Moreover, the higher revenue share in North America is accountable from the countries such as the U.S.
The social media analytics market is expected to reach US$ 7,862.1 Mn in 2025 and is projected to expand at a CAGR of 15.47% during the period from 2017 to 2025.
The key players profiled in this report include – Brandwatch, Adobe Systems Incorporated, Simply Measured, Inc., NetBase Solutions, Inc., Crimson Hexagon, Clarabridge, Oracle Corporation, IBM Corporation, Talkwalker Inc., and Sysomos among others.
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