Social Media Analytics Market Size, Share and Global Market Forecast to 2026

 

Social Media Analytics Market

The Social Media Analytics market was valued at 3,600 million in 2020 and is projected to grow at a CAGR of 34.1% during the forecast period (2021-2028).    

The factors driving the growth of Social Media Analytics Market includes the increasing demand for business intelligence tools, increasing number of smartphones, growing focus by businesses on collecting customer feedback and proliferation of social media networks. As per the report published by Bloomberg, the Social Media Advertising Market is anticipated to reach $262.62 Billion by 2028, growing at a CAGR of 12.4% during the forecast period (2021-2028), due to increased internet traffic, which will further boost the Global Social Media Analytics Market. Moreover, the increasing application of Social Media Analytics software by end use Industries such as media & entertainment, manufacturing and e-commerce and rising number of active social media users across the world, are some of the additional factors augmenting the Social Media Analytics Market Size. According to Statista, as of April 2022, around 4.65 billion users worldwide were active on Social Media platforms.

The growth of Social Media Analytics Market is hindered due to inadequate standard measures and complexities in analytical workflow.

Some of the prominent players operating in the market are NetBase Quid, Oracle, Salesforce.com, inc., Brandwatch, Talkwalker Inc., IBM Corporation, SAS Institute Inc., Adobe, Digimind and Clarabridge among others.

Deployment Model – Segment Analysis

Based on the Deployment Model, the Cloud segment is projected to grow at a significant CAGR over the forecast period because it offers enhanced storage capacity, flexibility, enhanced performance, and cost efficiency to its users

Application – Segment Analysis

Based on application, the Risk Management and Fraud Detection segment is estimated to capture a sizeable market share during the forecast period due to its ability to reduce fraudulent activities.

On the other hand, the Sales and Marketing management segment will dominate the market during the forecast period due to increasing application of analytical tools for developing sizeable customer base across the world.

Regional – Segment Analysis:

Based on region, the North American region is projected to lead the market during the forecast period. The increasing technological innovations in analytical tools, rapid digitalization, rising internet proliferation and increasing application of social media Analytical tools in various end-use industries, are some of the key factors propelling the market growth in North America.

 

 

Market Segmentation

Global Social Media Analytics Market by Component

  • Software
  • Services
  • Professional Services
    • Consulting
    • Training & Education
  • Managed Services

Global Social Media Analytics Market by Deployment Model

  • On-premises
  • Cloud

Global Social Media Analytics Market by Organization Size

  • Large Enterprises
  • Small and Medium-sized Enterprises (SMEs)

Global Social Media Analytics Market 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 by Vertical

  • BFSI
  • Telecommunications and Information Technology (IT)
  • Retail and eCommerce
  • Healthcare and Life Sciences
  • Media and Entertainment
  • Government and Defense
  • Travel and Hospitality
  • Others

Global Social Media Analytics Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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