According to a new market research report “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“, published by MarketsandMarkets™, The 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 key forces driving the social media analytics market include the increased focus on the market and competitive intelligence, the increasing user engagement in social media using smartphones, and the need for social media measurement to enhance the customer experience.
Browse 82 Market Data Tables and 43 Figures spread through 178 Pages and in-depth TOC on “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″
Major Key Players
- Salesforce (US),
- Oracle Corporation (US),
- SAS Institute Inc. (US),
- Adobe Systems Incorporated (US),
- International Business Machines Corporation (US),
- GoodData Corporation (US),
- Brandwatch (UK),
- Clarabridge, Inc. (US),
- Digimind (US),
- Crimson Hexagon, Inc. (US),
- Sysomos (Canada),
- Simply Measured, Inc. (US),
Talkwalker Inc. (Luxembourg), Unmetric Inc. (US), Netbase Solutions, Inc. (US), Cision US Inc. (US), Simplify360, Inc. (India), Hootsuite Media Inc. (Canada), Meltwater (US), Germinait Solutions Private Limited (India), Socialbakers (US), Spredfast, Inc. (US), Sprinkler, Inc. (US), Lithium Technologies, Inc. (US), Synthesio (US), and Tableau Software Inc. (US).
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Retail and eCommerce industry vertical to hold the highest market share in the social media analytics market during the forecast period
The retail and eCommerce industry vertical is transforming massively, as mobile eCommerce is enjoying popularity among customers and providing them with varied options, thereby replacing brick and mortar stores. There is fierce competition among online retailers because of the sudden emergence of many eCommerce websites. Retail and eCommerce organizations can make the use of social media analytics to achieve retail-specific goals and eliminate the impact of factors affecting the success of their brands. Among industry verticals, the retail and eCommerce industry vertical is expected to hold the highest market share, owing to the rising significance of social media analytics for generating a 360-degree view of customers.
Cloud deployment segment to grow at a higher CAGR in the social media analytics market during the forecast period
Cloud-based solutions are available through the internet anytime and anywhere. These solutions provide end-users with various benefits, including low operational expenses, easy deployment, scalability, speed and flexibility, security and compliance, and easy collaboration. Moreover, they need less physical setup; incur low maintenance costs; and offer 24/7 accessibility from anywhere, agility, and flexibility. Due to advancements in cloud technologies, the cloud deployment segment is expected to grow at a higher growth rate as compared to that of the on-premises deployment segment.
North America to hold the largest market size in the social media analytics market during the forecast period
North America is an early adopter of emerging and innovative technologies. The region is a leader in terms of revenue generation. The customers in North America have been implementing social media analytics solutions to track campaign performance, perform brand analysis, and gather competitive intelligence. The early adoption of new and emerging technologies, as well as the presence of a large number of social media analytics vendors, are expected to contribute to the largest market size of the region.
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