NEW YORK, March 13, 2023 /PRNewswire/ — The global social media analytics market is projected to grow by US$7,260.33 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 23.29% over the forecast period. The increasing demand for online security is considered a key market trend. Online security is a concern for both users and large companies as social media sites store personal information that could be exploited. For example, Ashley Madison, a discreet dating website, was hacked by a hacker group called The Impact Team, who condemned the company’s morals and called for the site to be shut down in 2015. The company failed to comply and the hackers released the private information of more than 30 million users. Established social networking platforms such as Facebook and Twitter offer tools to improve data security. For more insights into historical market data (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report
Technavio has announced its latest market research report titled Global Social Media Analytics Market 2023-2027
what’s new
special coverage of the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
Global competitiveness and important competitive positions
Market Presence Across Multiple Geographic Footprints – Strong/Active/Niche/Trivial – Buy the Report!
North America is estimated to contribute 40% to the growth of the global market during the forecast period. The market growth can be attributed to factors such as the growing awareness by companies of Social Media Analytics (SMA) as an important platform for companies to communicate with their customers. Vendors in the region offer companies advanced SMA solutions. Vendors in the North American region are raising funds to improve SMA’s capabilities by adding new features. Vendors in the region are forming strategic alliances to enhance their product offerings and increase their geographic footprint.
The story goes on
Provider Offers
Agorapulse SAS – The company offers social media analytics such as social media reports, sentiment analysis, third-party cookies and engagement analytics.
Adobe Inc. – The company offers social media analytics such as Adobe campaigns, Adobe Audience Manager, Adobe Experience Manager and customer acquisition.
Digimind – The company offers social media analytics such as Cision social media listening and monitoring and analytics.
Request a sample report for other providers and their offers!
Social Media Analytics Market – Segmentation Assessment
Segment overview
Technavio has segmented the market by application (sales and marketing management, customer experience management, competitive intelligence, risk management, and public safety and law enforcement), end users (retail, government, media and entertainment, travel, and others). Deployment (on-premises and in the cloud) and geography (North America, APAC, Europe, South America, and Middle East & Africa).
The market share growth of the Sales and Marketing Management segment will be significant during the forecast period. Social media analytics tools provide powerful insights into end-user marketing techniques that organizations can use to optimize their marketing techniques. The way brands promote, market and promote their products has changed since the pandemic. This has forced various companies and brands to re-evaluate their current and future marketing campaigns. Businesses are reorganizing their advertising, marketing and promotional activities to generate sustained consumer interest and spending while generating adequate returns. Such factors are expected to propel the growth of the segment over the forecast period.
Geography overview
Geographically, the global social media analytics market is segmented into North America, APAC, Europe, South America, and Middle East & Africa. The report offers actionable insights and estimates each region’s contribution to the growth of the global Social Media Analytics Market.
Insights into the market contribution of different segments, including country and region-wise, historical market data (2017 to 2021) and forecast market size (2023 to 2027) – Download a sample report
Social Media Analytics Market – Market Dynamics
key factor in market growth
The increasing use of social media analytics to improve brand loyalty is driving the market growth significantly.
Brands and customers communicate with each other through social media analytics tools that drive customer engagement and help understand consumer behavior.
It is estimated that 32% of consumers worldwide use product information, reviews and suggestions before making a purchase via social media platforms.
A strategic open social media platform helps businesses grow their customer base and drive customer loyalty to their brand.
Therefore, the increasing focus on retaining existing customers and attracting new ones will drive the demand for social media analytics over the forecast period.
Major challenges hampering market growth
The tedious task of deciphering unstructured data is a challenge that can hamper market growth.
There is an explosion of companies trying to extract value from the overwhelming amount of data that exists on these social media sites in the form of posts, emails, images, product reviews and more.
Organizations across multiple industries are researching and investing in tools like social media analytics to derive actionable insights from vast unstructured data and drive strategic business decisions.
Unstructured data cannot be analyzed using traditional technologies due to its variability and unidentifiable internal structure.
This makes deriving meaningful insights from data a tedious and time-consuming task. This can hamper the growth of the market in focus.
Insights into Market Drivers, Trends and Challenges, Historical Period (2017 to 2021) and Forecast Period (2023 to 2027) – Request a Sample Report!
What Key Data is Covered in This Social Media Analytics Market Report?
CAGR of the market during the forecast period
Detailed information on factors that will propel the growth of Social Media Analytics Market between 2023 and 2027
Precisely estimate the size of the Social Media Analytics market and its contribution to the market with a focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of Social Media Analytics Market in North America, APAC, Europe, South America and Middle East & Africa
A thorough analysis of the competitive landscape of the market and detailed information about vendors
Comprehensive analysis of factors which will challenge the growth of Social Media Analytics market vendors.
Get instant access to over 17,000 market research reports.
Technavio’s SUBSCRIPTION platform
Related reports:
The social media management software market is expected to increase in size by USD 22.6 billion from 2021 to 2026 and the growth momentum of the market is set to accelerate at a CAGR of 21.25%. The growing need to efficiently manage social media accounts is a key factor driving the global growth of the social media management software market.
The artificial intelligence (AI) market in social media is expected to increase in size by USD 3.66 billion from 2021 to 2026 and the growth momentum of the market is expected to accelerate at a CAGR of 26.93%. The growing demand for data integration and visual analytics is a major factor driving the global artificial intelligence (AI) market share growth in social media.
Scope of the Social Media Analytics Market
report coverage
details
base year
2022
historical period
2017-2021
forecast period
2023-2027
Growth Dynamics & CAGR
Accelerate with a CAGR of 23.29%
Market growth 2023-2027
$7,260.33 million
market structure
fragmented
YoY growth 2022-2023 (%)
22.69
Regional Analysis
North America, APAC, Europe, South America and Middle East & Africa
make a market contribution
North America at 40%
key countries
USA, China, Japan, UK, Germany, Canada, Mexico, Italy, Spain, India, Australia and South Korea
competitive landscape
Leading Vendors, Vendor Market Positioning, Competitive Strategies, and Industry Risks
Important companies in profile
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
market dynamics
Root Market Analysis, Market Growth Drivers and Obstacles, Fast Growing and Slow Growing Segment Analysis, COVID-19 Impact and Recovery Analysis, and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period
customization area
If our report does not contain the data you are looking for, you can contact our analysts and have segments adjusted.
Find Technavio Information Technology Market Reports, ToC & LoE
Table of contents
1. Summary
2 market landscape
3 market size
4 Historical 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 Geographical Landscape
11 drivers, challenges and trends
12 provider landscape
13 Vendor Analysis
14 Appendix
About Us
Technavio is a leading global technology research and consulting firm. Her research and analysis focuses on trends in emerging markets and provides actionable insights that help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies and spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s extensive reporting, extensive research and actionable market insights to identify opportunities in existing and potential markets and to assess their competitive position in changing market scenarios.
Contact
Technavio Research
Jess Maida
Media and Marketing Executive
United States: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
Technavio logo
Decision
View original content to download multimedia: https://www.prnewswire.com/news-releases/social-media-analytics-market-to-grow-at-a-cagr-of-23-29-from -2022-to -2027–increasing-demand-for-online-security-is-becoming-a-major-market-trend—technavio-301769179.html
SOURCE Technavio
