USD 4.38 Billion
Social Media Analytics Market Size, Share, Growth Analysis, By Deployment Mode (Cloud Based, On-premises), By Application (Sales and Marketing Management, Customer Experience Management), By Business Function (Marketing, Sales and Lead Generation), By Vertical (Media & Entertainment, Retail & eCommerce), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45J2170 |
Region:
Global |
Published Date: August, 2024
Pages:
197
|Tables:
65
|Figures:
75
Social Media Analytics Market Insights
Social Media Analytics Market size was valued at USD 4.38 Billion in 2022 and is poised to grow from USD 4.79 Billion in 2023 to USD 9.83 Billion by 2031, at a CAGR of 9.4% during the forecast period (2024-2031).
The purpose of the social media analytics market is to help organizations extract valuable insights from the vast amount of data generated on social media platforms. By analyzing social media data, businesses can gain a deeper understanding of their target audience, track brand reputation, monitor customer feedback, identify trends, and uncover new business opportunities. The major driving factors of the social media analytics market is the exponential growth of social media usage worldwide. Platforms such as Facebook, Twitter, Instagram, LinkedIn, and YouTube have billions of active users, generating massive amounts of data every day.
The increasing adoption of artificial intelligence and machine learning technologies is opening up new possibilities in social media analytics. AI-powered analytics solutions can automate data collection, sentiment analysis, and trend detection, enabling businesses to derive actionable insights more efficiently. The global social media analytics market is driven by the growing importance of social media data in business decision-making. By leveraging social media analytics, organizations can gain valuable insights into customer behavior, preferences, and market trends. While challenges such as data complexity and privacy concerns exist, the market presents opportunities for innovative solutions powered by AI and ML. As businesses continue to recognize the value of social media data, the demand for social media analytics solutions is expected to grow, shaping the future of the market.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Cloud
Fastest Growth
Cloud
Growth Rate
9.4% CAGR
Global Social Media Analytics Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Social Media Analytics Market Segmental Analysis
The global social media analytics market is segmented based on deployment Mode, application, business operation, vertical and region. In terms of deployment mode, the market is segmented into cloud based, and on-premises. In terms of application, the market is segmented into sales and marketing management, customer experience management, competitive intelligence, risk management and fraud detection, public safety and law enforcement, and others. Based on business operation, it is segmented as Marketing, Sales and Lead Generation, Finance, Operation, Human Resources, Customer Service. By vertical it is segmented as BFSI, Retail & eCommerce, Government & Defense, Travel and Hospitality, Healthcare & Life Sciences, Media & Entertainment, Telecommunications, Energy & Utilities, Education, Other Verticals. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Social Media Analytics Market Analysis by business operation
Businesses are increasingly using social media analytics to improve their customer service and engage with their customers. This entails using social media platforms to respond to customer queries, provide support, and build stronger relationships. Companies such as Nike, Spotify, Wendy's, and Starbucks are great examples of organizations that harness the power of social media to interact with customers, resolve concerns, and offer timely solutions. Social media analytics allows businesses to identify problems and opportunities on social channels, gather and analyze data from social media platforms, and evaluate the effectiveness of their strategies on various business activities.
Social Media Analytics Market Analysis by vertical
Effective engagement with customers across various social media channels is crucial for brand engagement in the travel and hospitality industry. Hotels are actively managing multiple social platforms to address guest concerns on Twitter, respond to queries on Facebook Messenger, share captivating visuals on Instagram, or create unique filters on Snapchat, as part of their branding strategy. The service-oriented nature of this industry demands a proactive approach in leveraging social media tools to streamline content creation, facilitate posting on diverse platforms, engage in social listening, and integrate advanced analytics. Talkwalker has highlighted the dominance of airline brands, exemplified by Hong Kong Airlines, in the social conversation surrounding travel and hospitality. Their strategic focus on developing engaging content and expanding target audiences exemplifies how businesses in this industry can utilize social media tools to enhance their brand presence and resonate with their customer base.
Global Social Media Analytics Market Size By Deployment Mode, 2022(%)
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Social Media Analytics Market Regional Insights
North America dominates the social media analytics market owing to the presence of major players and advanced technology infrastructure. The region has a high adoption rate of social media analytics solutions by various industries such as retail, healthcare, and BFSI, which is driving the growth of the market in this region. In addition, the increasing demand for social media analytics solutions to gain customer insights and increase customer engagement is further propelling the market growth.
Asia Pacific is expected to witness the fastest growth rate in the social media analytics market during the forecast period. The region is experiencing rapid digitalization, which is leading to an increase in the usage of social media platforms. This has resulted in a high demand for social media analytics solutions to analyze and understand customer behavior and preferences. Additionally, the increasing number of SMEs in the region and their adoption of social media analytics to enhance their marketing strategies are driving the growth of the market in Asia Pacific.
Global Social Media Analytics Market Size By Geography, 2022-2030
- Largest
- Fastest
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Social Media Analytics Market Dynamics
Social Media Analytics Market Drivers
Growing Importance of Social Media for Businesses
- Social media has become a crucial platform for businesses to engage with their customers, promote their products or services, and build brand awareness. The need to analyze social media data to make informed business decisions is a significant driver for the social media analytics market.
Increasing Focus on Targeted Marketing
- Organizations are realizing the importance of targeted marketing campaigns to reach the right audience. Social media analytics provides valuable insights into customer demographics, interests, and behavior, enabling businesses to create personalized and targeted marketing strategies.
Social Media Analytics Market Restraints
Data Privacy Concerns
- The collection and analysis of social media data raise concerns regarding privacy and data security. Stricter regulations and compliance requirements may pose challenges for social media analytics providers in handling and protecting user data.
Complex Data Integration
- Social media analytics involves gathering and analyzing data from multiple social media platforms, which can be challenging due to varying data formats and APIs. Ensuring seamless integration and data accuracy across different platforms can be a restraint for organizations.
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Social Media Analytics Market Competitive Landscape
The global social media analytics market is highly competitive and characterized by the presence of several key players. These companies focus on product innovation, strategic partnerships, and mergers and acquisitions to gain a competitive edge in the market. Here is an elaboration on the competitive landscape of the global social media analytics market. The competitive landscape of the global social media analytics market is dynamic, with companies striving to provide comprehensive solutions that cater to the evolving needs of businesses. The market is expected to witness further competition and innovation as organizations continue to recognize the importance of social media data analysis for informed decision-making and business growth.
Top Player’s Company Profiles in Social Media Analytics Market
- IBM Corporation (US)
- Salesforce.com, Inc. (US)
- Adobe Inc. (US)
- SAS Institute Inc. (US)
- Oracle Corporation (US)
- NetBase Quid (US)
- Talkwalker Inc. (Luxembourg)
- Sprout Social, Inc. (US)
- Hootsuite Inc. (Canada)
- Meltwater (Norway)
- Digimind (France)
- Keyhole Inc. (Canada)
- Social Status (Australia)
- Rival IQ (US)
- Iconosquare (France)
- Quintly (Germany)
- Khoros, LLC (US)
- Zoho Corporation (India)
- Awario (Belarus)
- Brand24 (Poland)
Social Media Analytics Market Recent Developments
-
In April 2023, Slovakian social media analytics start-up CulturePulse AI raised just shy of $1 million to pivot to AI SaaS model. The social media analytics company tests messaging against predicted reactions to help businesses communicate positively with its customers.
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In February 2023, Digital media specialist Greenfly has teamed up with software platform Blinkfire to incorporate the company’s social media analytics into its content offering.
Social Media Analytics Key Market Trends
- Artificial Intelligence and Machine Learning: The integration of AI and machine learning algorithms in social media analytics is enabling advanced sentiment analysis, image recognition, and predictive analytics. These technologies help businesses extract meaningful insights from vast amounts of social media data.
- Real-time Analytics: Real-time monitoring and analysis of social media conversations and trends are gaining importance. Organizations are leveraging real-time social media analytics to respond promptly to customer feedback, address issues, and capitalize on emerging opportunities.
Social Media Analytics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global social media analytics market report, the need for an industry that provides tools and solutions for analyzing and extracting valuable insights from social media platforms is the prime growth driver. Social media analytics helps businesses understand and make sense of the vast amount of data generated on social media platforms such as Facebook, Twitter, Instagram, and LinkedIn. It involves collecting, monitoring, and analyzing social media data to gain insights into consumer behavior, market trends, brand reputation, and competitor activities. The market is driven by several factors, including the increasing adoption of social media platforms, the need for businesses to understand customer sentiments and preferences, and the growing importance of data-driven decision-making.
Social media analytics helps businesses identify consumer needs and preferences, improve customer engagement, and develop effective marketing strategies. It also helps in measuring the success of social media campaigns and identifying potential risks and opportunities. The global social media analytics market plays a crucial role in helping businesses harness the power of social media data. It enables businesses to understand their target audience, track brand performance, and gain a competitive edge. The social media analytics market is anticipated to have considerable growth in the next years due to technological improvements as well as the growing significance of social media in marketing and customer interaction.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.38 Billion |
| Market size value in 2031 | USD 9.83 Billion |
| Growth Rate | 9.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Social Media Analytics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Social Media Analytics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Social Media Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Social Media Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Social Media Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Social Media Analytics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Social Media Analytics Market Report Snapshots
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