Social Media Analytics Market

Global Social Media Analytics Market is valued at USD 6.52 Billion in 2021 and is expected to reach USD 30.25 Billion by 2028 with a CAGR of 24.5% over the forecast period.

Social Media Analytics Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2028: Increasing number of social media users, rising adoption of smartphones, and growing technological advancements are some of the major factors driving the growth of the Global Social Media Analytics Market.

Scope of Global Social Media Analytics Market Report-

Social media analytics is a methodology of gathering information from different social media platforms and afterward analyzing the information to go with pertinent business choices. It utilizes social media analytics devices like investigation, iconosquare, tailwind, Google investigation, and others, to extract information connected with client opinions, to support an organization’s marketing exercises and client support. Social media furnishes potential opportunities to associations to interface with their clients. It is vital for test and track the outcomes created through social media to distinguish the best procedures. There are three fundamental stages in analyzing social media: data analysis, data identification, and data interpretation.

The Covid-19 pandemic has shown a positive impact on the growth of the global social media analytics market. During Covid-19 pandemic, people started using social media platforms as a way to communicate around the world. Due to the lockdown, people stayed at home and social media platforms were crowded at that time. So many governments, public officials, and hospitals used social media platforms to communicate with the public and spread awareness about safety and actions to be taken in communicable diseases.

Global Social Media Analytics Market Segmentation:-

The global social media analytics market is segmented on the basis of the application, analytics, deployment type, organization size, industry, and region & country level. On the basis of application, the global social media analytics market is segmented into sales & marketing management, public safety & law enforcement, competitive intelligence, customer experience management, risk management & fraud detection, and others. By analytics, the market is segmented into predictive analytical, diagnostic analytical, prescriptive analytical, and descriptive-analytical. By deployment type, the global market is segmented into cloud-based, and on-premises. By organization size, the global social media analytics market is segmented into large enterprises, and small & medium enterprises (SMEs). By industry, the global market is segmented into transportation & logistics, banking, financial services, & insurance (BFSI), healthcare & life sciences, telecommunications & IT, retail & eCommerce, government & defense, manufacturing, energy & utilities, travel & hospitality, media & entertainment, others.

By Analytics Type

• Descriptive Analytics
• Diagnostic Analytics
• Predictive Analytics
• Prescriptive Analytics

By Component

• Software
• Services
  • Professional
  • Managed

By Deployment Mode

• On-Premises
• Cloud-based

By Organization Size

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

By Application

• Customer Experience Management
• Competitive Intelligence
• Sales and Marketing Management
• Public Relations
• Risk Management and Fraud Detection
• Others

By End User

• Retail and E-commerce
• Healthcare
• BFSI
• Telecom and IT
• Government and Public Sector
• Media & Entertainment
• Automotive
• Others

Social Media Analytics Companies

Some major key players for the global social media analytics market report cover prominent players like

• Brandwatch
• Buffer
• Crimson Hexagon
• Digimind
• Hootsuite
• Meltwater
• NetBase Quid
• Nuvi
• Socialbakers
• Sprinklr
• Sprout Social
• Synthesio
• Sysomos
• Talkwalker
• Zoho Social
• Others

Recent Developments

News- AnyMind Group Launch of Social Media Account Analytics on CastingAsia

On June 23^rd, 2020; AnyMind Group announced the launch of an analytics tool for marketers to analyze& track their brand's social media profiles on the CastingAsia platform. The new analytics tool and future increments will likewise be made accessible to influencers who have made brands through AnyMind D2C for Influencers, and help to assist influencers in making, producing, and selling their own branded product.

Social Market Analytics (SMA) Partnered with Lightspeed, a Division of Lime Brokerage

On December 3^rd, 2019; Lightspeed announced a partnership to make SMA's real-time protections information accessible for Lightspeed clients. Social Market Analytics, a leader in textual data analytics, has fostered the capacity to analyze social sentiment around protections. This investigation can be seen by Lightspeed clients utilizing gadgets that give real-time measurements in regards to the tone of the discussion and relative Tweet volume from influential records on Twitter.

Increasing Number of Social Media Users, Rising Adoption of Smartphones, and Growing Technological Advancements are Some of the Major Factors Driving the Growth of the Global Social Media Analytics Market

One of the major factors driving the growth of the global social media analytics market is the rising number of social media users. The use of laptops, mobiles, and computers using the internet has increased in the last few years. This has had a huge impact on social media platforms. This enables social media analytics companies to get better customer data and enhanced customer behavior analysis. With the rise of digital technology, people are starting to use social media for communication, online shopping, and other social networking activities. This has encouraged enterprises to adopt social media analytics solutions to understand the needs and demands of users and the marketability of their products. Nowadays, most of the people are addicted to social media because social media is a great medium for news and entertainment. For instance; according to Our World in Data, on September 18^th, 2019; Facebook, the world's largest social media platform, has 2.4 billion users. Other social media platforms, including WhatsApp, and YouTube have more than one billion users each. So, increasing use of social media has expected to drive the market growth.

In addition, the rising adoption of smartphones is boosting the growth of the social media analytics market. Companies like Google are also contributing to the growth of smartphone adoption. As the adoption of smartphones have increased, social media platforms are also creating mobile-friendly apps, which are playing a significant role in increasing their use among the youth. Now, developers can use additional data such as location tagging and friend tagging gained from social media platforms to generate additional insights. The increasing smartphones use and the creation of user-friendly social media platforms are expected to increase the amount of data generated from social media.

Moreover, the growing technological advancements in this field are also fostering the market growth. However, the high cost associated with social media analytics solutions may hinder the growth of the global social media analytics market. In spite of that, huge data generated through social media platforms, and increasing cloud adoption trends may create more opportunities for the further growth of the market.

North America Holds a Major Share in the Global Social Media Analytics Market

Geographically, North America is expected to show significant growth in the global social media analytics market within the forecast period due to the increasing number of smartphone users, rising users of social media, and the presence of key players in this region. An increasing number of smartphone users are driving the growth of the market in the region. Most of the users use smartphones to access social media platforms. For instance; according to, the Cellular Telecommunications and Internet Association; the number of smartphone users in the U.S. is 262 million in 2018. Also, the presence of key players drives the market. For instance, in October 2021, Google upgraded Google Analytics by adding a search console choice that empowers advertisers to see information, for example, their site's rank and questions that prompted clicks.

The Asia Pacific is the fastest-growing region in the global social media analytics market due to increasing investment in process of digitalization, and the rising adoption of social media analytics in this region. For instance; as per the news published; on March 23^rd, 2022; Concept BIU launched social media analytics & intelligence service.

On Special Requirments Screenless Display Market Report is also available for the below Regions and Countries:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

The Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 6.52 Billion
Base year considered	2021
Forecast Period CAGR %:	24.5%
Market Size Expected in 2028:	USD 30.25 Billion
Tables, Charts & Figures:	175
Pages	200
Social Media Analytics Companies	Brandwatch, Buffer, Crimson Hexagon, Digimind, Hootsuite, Meltwater, NetBase Quid, Nuvi, Socialbakers, Sprinklr, Sprout Social, Synthesio, Sysomos, Talkwalker, Zoho Social, Others
Segments Covered	By Application, By Analytical, By Deployment Type, By Organization Size, By Industry
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

 

Key Benefits of Global Social Media Analytics Industry Report–

• Global Social Media Analytics Industry report covers in-depth historical and forecast analysis
• Global Social Media Analytics Industry research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country levels.
• Global Social Media Analytics Industry report helps to identify opportunities in the marketplace.
• Global Social Media Analytics Industry report covers an extensive analysis of emerging trends and the competitive landscape.