Social media analytics is the process of gathering of information from social media sites such as Facebook, LinkedIn, Twitter, instagram and analyzing it to get insights about target audience. Worldwide many companies are embracing social media analytics to turn data into valuable insights which can be utilized to develop customer relations, marketing strategies, product development and gain competitive advantage. Further integration of the technology into public safety and law enforcement, risk management and fraud detection, sales and marketing management, workforce management and compliance management is augmenting the growth of global Social media analytics market.
This report analyses the global market for Social Media Analytics. The report will enable the user to understand and gain insights into the current and forecast market situation. The market is comprehensively analyzed by geography to give complete information on the global scenario. The qualitative and quantitative data provided in this study can help user understand which market segments, regions are expected to grow at higher rates, factors affecting the market and key opportunity areas. The report also includes competitive landscape of key players in the industry along with emerging trends in the market. This Social Media Analytics market report provides insights on new trade regulations, import export analysis, industry value chain analysis, market size, consumption, production analysis, regional and segment market share, product launches, product pipeline analysis, impact of Covid-19 on supply chain, key regions, untapped markets, patent analysis, product approvals, continuous innovations and developments in the market.
North America was largest market in terms of revenue 2019. The growth in the region was primarily driven by growing number of social media users, key players and increasing user engagement of social media using smartphones. The social media user base in the region has grown significantly today 7 in 10 people use social media to connect with each other. Companies are adopting social media analytics to understand consumer’s preferences and shopping behaviors. It also helps them to device personalized product marketing and promotional programs. Asia Pacific is the fastest growing market with lot of potential. The region accounts for more than 50% of all social media users worldwide. Companies evaluating customer engagement strategies and channels in the region are realizing the potential benefit of social media analytics and are evolving to stay ahead in the competition. Further, rapid growth in E-commerce, mobile user penetration will offer significant growth opportunities in future.
Significant use of social media sites around the world is key driver for the growth of global social media analytics market. Worldwide there are about 3.5 billion social media users. The number is expected to increase in future with increase in number of mobile users, rising penetration of internet services in developing regions. Facebook is most popular social media platform with 91 % of users from mobile devices. However, stringent regulatory policies, difficulties in data collection and privacy concerns are major factors limiting the growth of market. Technical advancements in predictive analysis, AI and Machine learning for data analytics, emergence of cutting edge solutions for data collection and IOT technologies are offering lucrative opportunities to the market.
oSmall and Medium-sized Enterprises (SMEs)
oCustomer Experience Management
oPublic Safety and Law Enforcement
oRisk Management and Fraud Detection
oSales and Marketing Management
oWorkforce Management and Compliance Management
oMedia & Entertainment
oTravel & Hospitality
oIT & Telecom
•An overview of the global Social Media Analytics market
•In depth analysis of market dynamics and major factors such as drivers, restraints, opportunities and trends influencing the global market
•Global Social Media Analytics market revenue data historic and forecast analysis (2016 to 2026)
•Characterization and quantification of the market segments for Social Media Analytics market
•Market share analysis of key market participants and their competitive landscape
Important Questions Answered by Global Social Media Analytics Market Report
•What is the impact of COVID 19 epidemic on the global Social Media Analytics market?
•Which is mostly affected region, country?
•Which is the current largest and fastest-growing region?
•What is the market size and growth rate of the global Social Media Analytics market?
•What are current factors affecting the growth of market?
•What are Key trends and opportunity areas?
•Within Social Media Analytics market, which segments are fastest growing & emerging strongly? What are the drivers and restraints for each segment? What are vendor competencies by segment?
•What are the major strategies adopted by leading market companies?
•What are company challenges and essential success factors by market segment?
•How company offerings and supply chain capabilities are shifting to meet emerging market needs?