Market Synopsis of Social Intelligence Market
Major giants like IBM Corporation are key players in the social Intelligence market due to increasing demand from various industry verticals like retail, e-commerce, IT and telecommunication and BFSI among others. Retail and e-commerce is expected to hold the largest market share of social intelligence market owing to the growing popularity of e-commerce websites and increasing trend of online shopping. Brandwatch is considered to be a technology leader in the social intelligence market and is expected to dominate the social intelligence market in the Asia Pacific region.
Increasing adoption of social media networking has led to increasing availability of data and hence has resulted into an increasing need for data analytics. This is one major factor fueling the growth of social intelligence market. Social intelligence is gaining importance owing to the increasing adoption in banking, finance and human resource services owing to the growing popularity of social media networking.
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North America region holds the largest market share of global social intelligence market followed by Europe and Asia Pacific regions. The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing demand from and in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies. Increasing adoption new and emerging technologies and increasing emergence of many social media analytics vendors is another major factor driving the growth of social intelligence market. Increasing demand for cost effective software analytical services among small and medium enterprises is another major factor driving the growth of social intelligence market.
Social Intelligence market has been segmented on the basis of component, organization size, deployment, application and vertical. The vertical segment is further bifurcated into BFSI, healthcare, education, retail & ecommerce, IT & telecommunication, transportation & logistics, government & defense and others. Out of which, the education sub segment is expected to witness significant growth during the forecast period. The cloud based deployment model is expected to hold the largest market share of the social intelligence market. This is owing to its cost effectiveness and easy availability.
Social intelligence basically refers to practice of collecting data from different social media platforms. With the growing use base on social media sites, there has been a tremendous increase in the data availability. Growing need for data analytics is one major factor driving the growth of social intelligence market. Increasing need of social media measurement in order to enhance customer user experience is another major factor responsible for the growth of social intelligence market.
The global Social Intelligence Market is expected to grow at approx. USD 13 Billion by 2023, at 26% of CAGR between 2017 and 2023
The prominent players in social intelligence market are – Brandwatch (U.K.), IBM Corporation (U.S.), Synthesio (U.S.), 4c (U.S.), Frrole, Inc. (U.S.), Salesforce.Com, Inc. (U.S.), Sysomos Inc. (Canada), Talkwalker (U.S.), ARBA Holdings (Hong Kong), Germin8 (India) among others.
The regional analysis of social intelligence market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America market is estimated to account for the largest share of the market, whereas Asia-Pacific market is projected to grow at the fastest rate during the forecast period. The major growth in social intelligence market in North America market is attributed to technological advancements and increasing demand for social intelligence across various industry verticals in that region.
Social intelligence market can be segmented on the basis of following:
- Managed Services
- Professional Services
- Large Enterprises
- On Premise
- By Application
- Campaign Analysis
- Sales & Marketing Management
- Product Analysis & Product Development
- Customer Service
- Social Media Research
- Retail & Ecommerce
- IT & Telecommunication
- Transportation & Logistics
- Government & Defense
- Smartphone Manufactures
- Battery Manufacturers
- Technology Providers
- Wireless Charger Manufactures
- Chip Manufacturers
- Wireless Charger Suppliers
- Research firms
- Consultancy firms
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
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- Technology Investors
- Research/Consultancy Firms
- Government Bodies
- IT & Telecommunication Companies
- Software Providers
- Technology Providers
- Software Vendors
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