Market Highlights:
Social media analytics is a process of gathering data from social media websites and analyzing that data to make business decisions. It uses social media analytics tools to extract valuable hidden insights about the market. It is also referred to as social media listening or social media monitoring. Social media analytics is a six step process which comprises of identification, extraction, cleaning, analyzing, visualization and interpretation.
Major factors driving the growth of social media analytics market is the increasing number of social media users and great focus on market intelligence and increase in spending on analytics.
The social media analytics market has been segmented on the basis of type, deployment, organization size, application and vertical. The application segment is further bifurcated into customer segmentation & targeting, multichannel campaign management, competitor bench marking, customer behavioral analysis, marketing measurement and others. Out of these, the marketing measurement segment is expected to grow at the highest CAGR during the forecast period. This is owing to the increasing number of users on social media platform.
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Key Players:
SAS Institute (U.S.),
IBM Corporation (U.S.),
Oracle Corporation (U.S.),
Adobe Systems (U.S.),
SAP SE (Germany),
Salesforce.com (U.S),
GoodData (U.S),
HootSuite Media (U.S),
Tableau Software (U.S),
NetBase Solutions (U.S),
The global social media analytics market is expected to grow at approx. USD 7 Billion by 2023, at 28% of CAGR between 2017 and 2023.
Regional Analysis:
The regional analysis of social media analytics 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 is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in social media analytics market in North America attributes to the technical advancements and increasing use of mobiles and tablets in that region.
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Segments:
Social media analytics market can be segmented on the basis of following:
By Type
- Solution
- ServicesSupport & Maintenance
- Consulting Services
- Training & Education
By Deployment
- Cloud
- On-Premise
- By Organization SizeLarge Enterprises
- Small & Medium Enterprises
By Application
- Customer Segmentation & Targeting
- Multichannel Campaign Management
- Competitor Bench Marking
- Customer Behavioral Analysis
- Marketing Measurement
- Others
By Vertical
- BFSI
- Healthcare
- Education
- Media & Entertainment
- IT & Telecommunication
- Retail
- Government
- Others
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