Social Media Analytics Market size to grow by USD 7,260.33 million from 2022 to 2027, Growth opportunities led by Agorapulse SAS and Adobe Inc. - Technavio
NEW YORK, June 7, 2023 /PRNewswire/ -- The latest report on the social media analytics market is estimated to register an incremental growth of USD 7,260.33 million from 2022 to 2027. The market is estimated to register a CAGR of 23.29% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. The growing use of social media analytics to improve brand loyalty is notably driving market growth. Brands and customers can communicate with one another through social media analytical tools and boost brand loyalty through promotions on various social media platforms. These resources also help in understanding consumer behavior. Also, according to an estimation, 32% of global customers take product information, reviews, and suggestions through social media platforms before making a purchase. Furthermore, in developed countries, such as the UK and the US, around 50% of the population relies on social media platforms for making purchases. Hence, such factors boost market growth during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report
Social Media Analytics Market 2023-2027: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The soft skills training market report covers the following areas:
Social Media Analytics Market 2023-2027: Vendor Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Agorapulse SAS, Adobe Inc., Brand24 Global Inc., Cision US Inc., Digimind, GoodData Corp., International Business Machines Corp., Khoros LLC, Meltwater NV, NetBase Solutions Inc., Oracle Corp., Reputation Group of Companies, Salesforce.com Inc., SAP SE, SAS Institute Inc., Simplify360, Sprout Social Inc., Talkwalker Sarl, MetaQuotes Ltd., and Big Propeller LLC are among some of the major market participants.
What`s New for 2023?
Social Media Analytics Market 2023-2027: Market Dynamics
Increasing demand for online security is the key trend influencing the market. Social media sites store personal information that could be exploited. So, online security is a concern for both users and major corporations. However, Snapchat is a popular online photo-sharing service because of its safe and private conversations. For instance, in 2015, Ashley Madison, which is a discrete dating website, was hacked by a hacker group called The Impact Team that condemned the morals of the company and demanded the shutdown of the site. Since the company did not comply, the hackers released the private information of more than 30 million users. Thus, data leaks have increased the demand for online security. Hence, social media analytics helps social media platforms in performing a close analysis of the data.
The tedious task of deciphering unstructured data is the major challenge for market growth. Social media analytical tools help users analyze and monitor the popularity of their web pages by processing vast amounts of unstructured data. Organizations in several industries carry out research and invest in tools, such as social media analytics, to extract meaning from this data and drive strategic business decisions. As a result of the growing adoption of the Internet and social media sites, there has been an explosion of companies trying to mine value from the overwhelming amount of data present on these social media sites in the form of posts, emails, /images, product reviews, and others. Hence, such factors may have a negative impact on the growth of the market during the forecast period.
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Social Media Analytics Market 2023-2027: Segmentation
Social Media Analytics Market is segmented as below:
The market share growth of the sales and marketing management segment will be significant for overall market growth during the forecast period. Consumer reviews and feedback help in sales and marketing management. The analytics tools provide meaningful insights into the marketing techniques adopted by end users. Thus, SMA helps companies to increase sales by optimizing their marketing techniques. Hence, such factors are expected to drive the growth of the segment during the forecast period.
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Social Media Analytics Market 2023-2027: Key Highlights
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The social media management software market size is expected to increase by USD 22.6 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 21.25%. Furthermore, this report extensively covers the social media management software market segmentation by deployment (cloud-based and on-premises) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The growing need to manage social media accounts efficiently is a key factor driving the global social media management software market growth.
Artificial intelligence (AI) in social media market size is expected to increase by USD 3.66 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 26.93%. Furthermore, this report extensively covers artificial intelligence (AI) in social media market segmentation by application (predictive risk management, consumer experience management, and sales and marketing) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The growing demand for data integration and visual analytics is a major factor driving the global artificial intelligence (AI) in social media market share growth.
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Market Segmentation by Deployment
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
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