HOME Top Market Reports Social Media Analytics Market by Application (Sales and Marketing Management, Customer Experience Management, Competitive Intelligence), Component, Analytics Type, Deployment, Organization Size, Industry Vertical, and Region - Global Forecast to 2022

Social Media Analytics Market by Application (Sales and Marketing Management, Customer Experience Management, Competitive Intelligence), Component, Analytics Type, Deployment, Organization Size, Industry Vertical, and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: August 2017
Report Code: TC 2648

 

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The social media analytics market size is expected to grow from USD 2.23 Billion in 2016 to USD 9.54 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 28.6%. The major growth drivers of the market include the increased focus on the market and competitive intelligence, the increased user engagement over social media using smartphones, and the need for social media measurement to enhance the customer experience. The base year considered for this report is 2016 and the market forecast period is 2017–2022.

Objectives of the Study

The main objective of the report is to define, describe, and forecast the global social media analytics market on the basis of components, applications, analytics types, deployment models, organization sizes, industry verticals, and regions. The report provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). The report aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market. The report attempts to forecast the market size with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The report strategically profiles key players and comprehensively analyzes their core competencies. It also tracks and analyzes competitive developments, such as partnerships, collaborations, and agreements; mergers and acquisitions; new product launches and new product developments; and Research and Development (R&D) activities in the market.

Research Methodology

The research methodology used to estimate and forecast the social media analytics market began with capturing data on key vendor revenues through secondary research, which included directories and databases (D&B Hoovers, Bloomberg Businessweek, and Factiva). The vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global market that was derived from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary participants is depicted in the figure below:

Social Media Analytics Market

To know about the assumptions considered for the study, download the pdf brochure

The social media analytics ecosystem comprises vendors, such as International Business Machines Corporation (US), Oracle Corporation (US), Salesforce (US), Adobe Systems Incorporated (US), SAS Institute Inc. (US), Clarabridge, Inc. (US), Netbase Solutions, Inc. (US), Brandwatch (UK), Talkwalker Inc., (Luxembourg), GoodData Corporation (US), Crimson Hexagon, Inc. (US), Simply Measured, Inc. (US), Sysomos (Canada), Digimind (US), Unmetric Inc. (US), Cision US Inc. (US), Simplify360, Inc. (India), Hootsuite Media Inc. (Canada), Meltwater (US), Germinait Solutions Private Limited (India), Socialbakers (US), Spredfast, Inc. (US), Sprinkler, Inc. (US), Lithium Technologies, Inc. (US), Synthesio (US), and Tableau Software Inc. (US).

The other stakeholders of the social media analytics market include social media analytics vendors, research organizations, network and system integrators, social media analytics managed service providers, Business Intelligence (BI) solution providers, marketing analytics executives, third-party service providers, and technology providers.

Social Media Analytics Key Target Audience

  • Service providers and distributors
  • Social media analytics application builders
  • Independent Software Vendors (ISVs)
  • Analytics consulting companies
  • Enterprises
  • End-users

“The study answers several questions for the stakeholders, primarily which market segments to focus on in the next 2–5 years for prioritizing efforts and investments.”

Scope of the Report

The research report categorizes the social media analytics market to forecast the revenues and analyze the trends in each of the following subsegments:

By Component

  • Software
  • Services
    • Managed services
    • Professional services
      • Support and maintenance services
      • Consulting services

By Application

  • Sales and marketing management
  • Customer experience management
  • Competitive intelligence
  • Risk management and fraud detection
  • Public safety and law enforcement
  • Others (workforce management and compliance management)

By Analytics Type

  • Predictive analytics
  • Prescriptive analytics
  • Diagnostic analytics
  • Descriptive analytics

By Deployment Model

  • On-premises
  • Cloud

By Organization Size

  • Small and Medium-Sized Enterprises (SMEs)
  • Large enterprises

By Industry Vertical

  • Banking, Financial Services, and Insurance (BFSI)
  • Retail and eCommerce
  • Government and defense
  • Healthcare and life sciences
  • Manufacturing
  • Telecommunications and IT
  • Energy and utilities
  • Media and entertainment
  • Transportation and logistics
  • Others (research, education, outsourcing, and real estate)

By Region

  • North America
    • US
    • Canada
  • Europe
    • UK
    • France
    • Sweden
    • Others
  • APAC
    • Australia
    • China
    • India
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Others
  • MEA
    • Saudi Arabia
    • South Africa
    • Others

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix gives a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakdown of the North American social media analytics market
  • Further breakdown of the European market
  • Further breakdown of the APAC market
  • Further breakdown of the Latin American market
  • Further breakdown of the MEA market

Company Information

  • Detailed analysis and profiling of additional market players upto 5.

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Microquadrant Research Methodology
           2.3.1 Vendor Inclusion Criteria
    2.4 Research Assumptions and Limitations
    2.5 Limitations

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in the Market
    4.2 Market Share, By Region
    4.3 Social Media Analytics Market: By Industry Vertical and Region
    4.4 Lifecycle Analysis, By Region, 2017

5 Market Overview and Industry Trends (Page No. - 36)
    5.1 Market Overview
           5.1.1 Introduction
           5.1.2 Market Dynamics
           5.1.3 Drivers
                    5.1.3.1 Increased Focus on Market and Competitive Intelligence
                    5.1.3.2 Increasing User Engagement of Social Media Using Smartphones
                    5.1.3.3 Need of Social Media Measurement to Enhance the Customer Experience
           5.1.4 Restraints
                    5.1.4.1 Complexities in the Analytical Workflow
           5.1.5 Opportunities
                    5.1.5.1 Voluminous Data Generation Through Social Media Platforms
                    5.1.5.2 Increasing Cloud Adoption Trends
                    5.1.5.3 High Adoption Rate of Social Media Analytics Solutions Among Smes
           5.1.6 Challenges
                    5.1.6.1 Lack of Standard Measures for Social Media Analytics
                    5.1.6.2 Lack of A Single Solution to Manage the Increasing Unstructured Data
    5.2 Industry Trends
           5.2.1 Social Media Analytics Ecosystem
           5.2.2 Use Cases
                    5.2.2.1 Use Case 1: Banking Services
                    5.2.2.2 Use Case 2: Telecommunications and IT
                    5.2.2.3 Use Case 3: Hospitality Industry
                    5.2.2.4 Use Case 4: Media and Entertainment
                    5.2.2.5 Use Case 5: Energy and Utilities
                    5.2.2.6 Use Case 6: Healthcare and Life Sciences
                    5.2.2.7 Use Case 7: Manufacturing
                    5.2.2.8 Use Case 8: Retail and Ecommerce
                    5.2.2.9 Use Case 9: Government and Defense
                    5.2.2.10 Use Case 10: Transportation and Logistics
           5.2.3 Technologies in Social Media Analytics
                    5.2.3.1 Machine Learning
                    5.2.3.2 Big Data
                    5.2.3.3 Natural Language Processing (NLP)

6 Social Media Analytics Market, By Component (Page No. - 49)
    6.1 Introduction
    6.2 Software
    6.3 Services
           6.3.1 Managed Services
           6.3.2 Professional Services
                    6.3.2.1 Support and Maintenance
                    6.3.2.2 Consulting Services

7 Social Media Analytics Market, By Application (Page No. - 57)
    7.1 Introduction
    7.2 Sales and Marketing Management
    7.3 Customer Experience Management
    7.4 Competitive Intelligence
    7.5 Risk Management and Fraud Detection
    7.6 Public Safety and Law Enforcement
    7.7 Others

8 Social Media Analytics Market, By Analytics Type (Page No. - 64)
    8.1 Introduction
    8.2 Predictive Analytics
    8.3 Prescriptive Analytics
    8.4 Diagnostic Analytics
    8.5 Descriptive Analytics

9 Social Media Analytics Market, By Deployment Model (Page No. - 69)
    9.1 Introduction
    9.2 On-Premises
    9.3 Cloud

10 Social Media Analytics Market, By Organization Size (Page No. - 73)
     10.1 Introduction
     10.2 Small and Medium-Sized Enterprises
     10.3 Large Enterprises

11 Social Media Analytics Market, By Industry Vertical (Page No. - 77)
     11.1 Introduction
     11.2 Banking, Financial Services, and Insurance (BFSI)
     11.3 Telecommunications and IT
     11.4 Retail and Ecommerce
     11.5 Healthcare and Life Sciences
     11.6 Manufacturing
     11.7 Government and Defense
     11.8 Energy and Utilities
     11.9 Media and Entertainment
     11.10 Travel and Hospitality
     11.11 Transportation and Logistics
     11.12 Others

12 Social Media Analytics Market, By Region (Page No. - 88)
     12.1 Introduction
     12.2 North America
             12.2.1 By Component
             12.2.2 By Application
             12.2.3 By Analytics Type
             12.2.4 By Deployment Model
             12.2.5 By Organization Size
             12.2.6 By Industry Vertical
             12.2.7 By Country
                        12.2.7.1 United States
                        12.2.7.2 Canada
     12.3 Europe
             12.3.1 By Component
             12.3.2 By Application
             12.3.3 By Analytics Type
             12.3.4 By Deployment Model
             12.3.5 By Organization Size
             12.3.6 By Industry Vertical
             12.3.7 By Country
                        12.3.7.1 United Kingdom
                        12.3.7.2 France
                        12.3.7.3 Sweden
                        12.3.7.4 Others
     12.4 Asia Pacific
             12.4.1 By Component
             12.4.2 By Application
             12.4.3 By Analytics Type
             12.4.4 By Deployment Model
             12.4.5 By Organization Size
             12.4.6 By Industry Vertical
             12.4.7 By Country
                        12.4.7.1 Australia
                        12.4.7.2 China
                        12.4.7.3 India
                        12.4.7.4 Others
     12.5 Latin America
             12.5.1 By Component
             12.5.2 By Application
             12.5.3 By Analytics Type
             12.5.4 By Deployment Model
             12.5.5 By Organization Size
             12.5.6 By Industry Vertical
             12.5.7 By Country
                        12.5.7.1 Brazil
                        12.5.7.2 Argentina
                        12.5.7.3 Others
     12.6 Middle East and Africa
             12.6.1 By Component
             12.6.2 By Application
             12.6.3 By Analytics Type
             12.6.4 By Deployment Model
             12.6.5 By Organization Size
             12.6.6 By Industry Vertical
             12.6.7 By Country
                        12.6.7.1 Saudi Arabia
                        12.6.7.2 South Africa
                        12.6.7.3 Others

13 Competitive Landscape (Page No. - 117)
     13.1 Microquadrant Overview
             13.1.1 Visionary Leaders
             13.1.2 Innovators
             13.1.3 Emerging Companies
             13.1.4 Dynamic Differentiators
     13.2 Competitive Benchmarking
             13.2.1 Business Strategy Excellence Adopted in the Market
             13.2.2 Strength of Product Portfolio in the Market

14 Company Profiles (Page No. - 122)
(Business Overview, Product Offerings & Business Strategies, Recent Developments, MnM View Key Relationships)*
     14.1 Oracle
     14.2 Salesforce
     14.3 IBM
     14.4 Adobe Systems
     14.5 SAS Institute
     14.6 Clarabridge
     14.7 Netbase
     14.8 Brandwatch
     14.9 Talkwalker
     14.10 Gooddata
     14.11 Crimson Hexagon
     14.12 Simply Measured
     14.13 Sysomos

*Details on Business Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, and Key Relationships Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 168)
     15.1 Key Insights of Industry Experts
     15.2 Discussion Guide
     15.3 Knowledge Store: Marketsandmarkets Subscription Portal
     15.4 Introducing RT: Real-Time Market Intelligence
     15.5 Available Customization
     15.6 Related Reports
     15.7 Author Details


List of Tables (82 Tables)

Table 1 Evaluation Criteria
Table 2 Social Media Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 3 Software: Market Size, By Region, 2015–2022 (USD Million)
Table 4 Services: Market Size, By Region, 2015–2022 (USD Million)
Table 5 Social Media Analytics Market Size, By Service, 2015–2022 (USD Million)
Table 6 Managed Services: Market Size, By Region, 2015–2022 (USD Million)
Table 7 Professional Services: Market Size, By Region, 2015–2022 (USD Million)
Table 8 Social Media Analytics Market Size, By Professional Service, 2015–2022 (USD Million)
Table 9 Support and Maintenance: Market Size, By Region, 2015–2022 (USD Million)
Table 10 Consulting Services: Market Size, By Region, 2015–2022 (USD Million)
Table 11 Social Media Analytics Market Size, By Application, 2015–2022 (USD Million)
Table 12 Sales and Marketing Management: Market Size, By Region, 2015–2022 (USD Million)
Table 13 Customer Experience Management: Market Size, By Region, 2015–2022 (USD Million)
Table 14 Competitive Intelligence: Market Size, By Region, 2015–2022 (USD Million)
Table 15 Risk Management and Fraud Detection: Market Size, By Region, 2015–2022 (USD Million)
Table 16 Public Safety and Law Enforcement: Market Size, By Region, 2015–2022 (USD Million)
Table 17 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 18 Social Media Analytics Market Size, By Analytics Type, 2015–2022 (USD Million)
Table 19 Predictive Analytics: Market Size, By Region, 2015–2022 (USD Million)
Table 20 Prescriptive Analytics: Market Size, By Region, 2015–2022 (USD Million)
Table 21 Diagnostic Analytics: Market Size, By Region, 2015–2022 (USD Million)
Table 22 Descriptive Analytics: Market Size, By Region, 2015–2022 (USD Million)
Table 23 Social Media Analytics Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 24 On-Premises: Market Size, By Region, 2015–2022 (USD Million)
Table 25 Cloud: Market Size, By Region, 2015–2022 (USD Million)
Table 26 Social Media Analytics Market Size, By Organization Size, 2015–2022 (USD Million)
Table 27 Small and Medium-Sized Enterprises: Market Size, By Region, 2015–2022 (USD Million)
Table 28 Large Enterprises: Market Size, By Region, 2015–2022 (USD Million)
Table 29 Social Media Analytics Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 30 Banking, Financial Services, and Insurance: Market Size, By Region, 2015–2022 (USD Million)
Table 31 Telecommunications and IT: Market Size, By Region, 2015–2022 (USD Million)
Table 32 Retail and Ecommerce: Market Size, By Region, 2015–2022 (USD Million)
Table 33 Healthcare and Life Sciences: Market Size, By Region, 2015–2022 (USD Million)
Table 34 Manufacturing: Market Size, By Region, 2015–2022 (USD Million)
Table 35 Government and Defense: Market Size, By Region, 2015–2022 (USD Million)
Table 36 Energy and Utilities: Market Size, By Region, 2015–2022 (USD Million)
Table 37 Media and Entertainment: Market Size, By Region, 2015–2022 (USD Million)
Table 38 Travel and Hospitality: Market Size, By Region, 2015–2022 (USD Million)
Table 39 Transportation and Logistics: Market Size, By Region, 2015–2022 (USD Million)
Table 40 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 41 Social Media Analytics Market Size, By Region, 2015–2022 (USD Million)
Table 42 North America: Market Size, By Component, 2015–2022 (USD Million)
Table 43 North America: Market Size, By Service, 2015–2022 (USD Million)
Table 44 North America: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 45 North America: Market Size, By Application, 2015–2022 (USD Million)
Table 46 North America: Market Size, By Analytics Type, 2015–2022 (USD Million)
Table 47 North America: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 48 North America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 49 North America: Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 50 Europe: Social Media Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 51 Europe: Market Size, By Service, 2015–2022 (USD Million)
Table 52 Europe: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 53 Europe: Market Size, By Application, 2015–2022 (USD Million)
Table 54 Europe: Market Size, By Analytics Type, 2015–2022 (USD Million)
Table 55 Europe: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 56 Europe: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 57 Europe: Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 58 Asia Pacific: Social Media Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 59 Asia Pacific: Market Size, By Service, 2015–2022 (USD Million)
Table 60 Asia Pacific: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 61 Asia Pacific: Market Size, By Application, 2015–2022 (USD Million)
Table 62 Asia Pacific: Market Size, By Analytics Type, 2015–2022 (USD Million)
Table 63 Asia Pacific: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 64 Asia Pacific: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 65 Asia Pacific: Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 66 Latin America: Social Media Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 67 Latin America: Market Size, By Service, 2015–2022 (USD Million)
Table 68 Latin America: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 69 Latin America: Market Size, By Application, 2015–2022 (USD Million)
Table 70 Latin America: Market Size, By Analytics Type, 2015–2022 (USD Million)
Table 71 Latin America: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 72 Latin America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 73 Latin America: Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 74 Middle East and Africa: Social Media Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 75 Middle East and Africa: Market Size, By Service, 2015–2022 (USD Million)
Table 76 Middle East and Africa: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 77 Middle East and Africa: Market Size, By Application, 2015–2022 (USD Million)
Table 78 Middle East and Africa: Market Size, By Analytics Type, 2015–2022 (USD Million)
Table 79 Middle East and Africa: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 80 Middle East and Africa: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 81 Middle East and Africa: Market Size, By Industry Vertical, 2015–2022 (USD Million)
Table 82 Market Ranking for Social Media Analytics Market, 2017


List of Figures (43 Figures)

Figure 1 Social Media Analytics Market Segmentation
Figure 2 Regional Scope
Figure 3 Market Research Design
Figure 4 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 5 Data Triangulation
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 Social Media Analytics Market: Assumptions
Figure 9 Social Media Analytics Market is Expected to Grow at A High CAGR
Figure 10 Market Snapshot, By Component (2017 vs 2022)
Figure 11 Market Snapshot, By Service (2017 vs 2022)
Figure 12 Market Snapshot, By Application (2017 vs 2022)
Figure 13 Market Snapshot, By Deployment Model (2017 – 2022)
Figure 14 Market Snapshot, By Analytics Type (2017 - 2022)
Figure 15 Market Snapshot, By Organization Size (2017 - 2022)
Figure 16 Market Snapshot, By Industry Vertical (2017 - 2022)
Figure 17 Social Media Analytics Market is Expected to Grow Owing to the Growing Demand of Solutions From the Emerging Countries
Figure 18 North America is Expected to Have the Largest Market Share in 2017
Figure 19 Retail and Ecommerce Industry Vertical, and North America are Expected to Have the Largest Market Shares in 2017
Figure 20 Asia Pacific is Expected to Have an Exponential Growth During the Forecast Period
Figure 21 Social Media Analytics Market: Drivers, Restraints, Opportunities, and Challenges
Figure 22 Region-Wise Social Media Penetration (%)
Figure 23 Impact of Negative Experience (%)
Figure 24 Total Number of Social Media Users Worldwide (2010–2016)
Figure 25 Social Media Analytics Architecture
Figure 26 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 27 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 28 Consulting Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 29 Competitive Intelligence Application is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 30 Prescriptive Analytics Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 31 Cloud Deployment Model is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 32 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 33 Healthcare and Life Sciences Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 34 Asia Pacific is Expected to Have the Highest CAGR in the Social Media Analytics Market During the Forecast Period
Figure 35 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 36 North America: Market Snapshot
Figure 37 Asia Pacific: Market Snapshot
Figure 38 Social Media Analytics Market (Global), Competitive Leadership Mapping, 2017
Figure 39 Oracle: Company Snapshot
Figure 40 Salesforce: Company Snapshot
Figure 41 IBM: Company Snapshot
Figure 42 Adobe Systems: Company Snapshot
Figure 43 SAS Institute: Company Snapshot

The social media analytics market is expected to grow from USD 2.71 Billion in 2017 to USD 9.54 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 28.6%. Factors such as the increased focus on market and competitive intelligence, the increasing user engagement of social media using smartphones, and the need of social media measurement to enhance the customer experience are expected to drive the growth of the global market.

The report provides detailed insights into the global social media analytics market, which is segmented by application, component, analytics type, deployment model, organization size, industry vertical, and region. In the component segment, the social media analytics software segment is expected to have a larger market share during the forecast period. The demand for social media analytics software is rising, as organizations need a solution to measure, monitor, and analyze the social media data to understand the customers’ sentiments. Social media analytics vendors provide software that assist companies with the data collection and data analysis for generating meaningful insights into customer sentiments, voice of the customer, and the volume of posts. Social media analytics software filters the aggregated and enriched data, so that it can be analyzed to provide a high throughput from multiple social media platforms.

Among applications, the sales and marketing management application is expected to continue its dominance during the forecast period. Sales and marketing management assists users in improving their businesses solutions to analyze unstructured data and understand customer behaviors by detecting the trends and patterns. It also provides corrective measures by enabling real-time alerts and provides automated remedial actions.

The cloud deployment model is expected to exhibit a higher growth rate during the forecast period. Cloud-based solutions are gaining a firm hold in the market, due to features, such as scalability, flexibility, cost-effectiveness, and the increasing needs of organizations to keep track of campaign management and performance monitoring.

The retail and eCommerce industry vertical is expected to have the largest social media analytics market share and lead the market during the forecast period. Social media analytics can be used by retail and eCommerce vendors to measure campaign performance, identify growth opportunities, improve their products, keep a tab on their competitors, and improve their post-sale support and services.

Large enterprises are expected to dominate the market in terms of market share. The reason being, large and multi-brand corporations are looking for primary market research to drive and evaluate their marketing campaigns.

However, the Small and Medium-Sized Enterprises (SMEs) are expected to exhibit a higher CAGR, owing to the easy availability and scalability of cloud-based deployments.

The prescriptive analytics type is expected to grow at the highest CAGR, due to the increasing use of analytical technologies to optimize the market outcomes, limit the risks, and derive insights using the data obtained from social media platforms.

Social Media Analytics Market

The report covers all the major aspects of the social media analytics market and provides an in-depth analysis across the regions of North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and Latin America. North America, owing to the early adoption of new and emerging technologies and the presence of the major industry players, is expected to continue to dominate the market during the forecast period. The APAC region is expected to grow at the highest CAGR during the forecast period, owing to the growing adoption of social media analytics software and services among SMEs.

The challenges faced by the social media analytics market are the lack of standardized measures for social media analytics and the lack of a single solution to manage the increasing unstructured data, which needs to be enhanced, to improve the growth of the market.

The global social media analytics market is fragmented in nature, as no single vendor dominates the market. Vendors that offer social media analytics software and services include include Salesforce (US), Oracle Corporation (US), SAS Institute Inc. (US), Adobe Systems Incorporated (US), International Business Machines Corporation (US), GoodData Corporation (US), Brandwatch (UK), Clarabridge, Inc. (US), Digimind (US), Crimson Hexagon, Inc. (US), Sysomos (Canada), Simply Measured, Inc. (US), Talkwalker Inc. (Luxembourg), Unmetric Inc. (US), Netbase Solutions, Inc. (US), Cision US Inc. (US), Simplify360, Inc. (India), Hootsuite Media Inc. (Canada), Meltwater (US), Germinait Solutions Private Limited (India), Socialbakers (US), Spredfast, Inc. (US), Sprinkler, Inc. (US), Lithium Technologies, Inc. (US), Synthesio (US), and Tableau Software Inc. (US). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, expansions, and acquisitions, to expand their offerings in the social media analytics market.

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