Social Media Analytics Market Size, Share, Trends, Growth 2032

Social Media Analytics Market Insights

According to Zion Market Research, the global Social Media Analytics Market was worth USD 7.30 Billion in 2023. The market is forecast to reach USD 82.08 Billion by 2032, growing at a compound annual growth rate (CAGR) of 27.4% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Social Media Analytics Market industry over the next decade.

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Global Social Media Analytics Market Overview

Social media analytics (SMA) tools help in forming, understanding, and leveraging communities for societal activities and business offerings. Organizations are investing time, money, and efforts in social media to urge valuable data and it can mine those hidden treasures which may increase the revenue of the organization. Social media analytics tool provides a thought of customer’s needs and requirements. Enterprises are using social media analytics tools to reinforce product and repair of business, competitive advantage alongside support customers, better target marketing efforts, and market innovation. Social Media Analytics (SMA) also helps the user to make real-time reports which measure the performance of the team and company’s profile on social media websites and permit the user to share these customized reports for improving productivity and efficiency.

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Social Media Analytics Market Growth Factors  

The key driving factors of the social media analytics market are the increasing usage of social media like youtube, Facebook, Linkedin, and Twitter that have encouraged enterprises to adopt social media analytics solutions in organizations. Additionally, increased competition and increased used of business intelligence are expected to drive the expansion of the worldwide social media analytics market. Complexities in the analytical workflow are the restraints for the market.

However, the rising need for company’s product branding and therefore the improved ability to reply to customer requirements and wishes are helping to fuel the expansion of the social media analytics market, alongside increasing cloud adoption trend and increasing structure and unstructured data in SME across the world will boost the revenue of social media analytics market during the forecast period.

Social media analytics processes to gather information from social media websites such as linked in, Youtube, Facebook, Twitter and other and analyzing that data or information by using social media analytics tools to take business decisions. The use of social media analytics is to mine customer sentiment to support marketing and customer service activities. Social media platforms enable enterprises to dive into the details which can help them to design a long-term marketing strategy. With the help of social media, enterprises have access to get user information across social platforms, brand popularity and loyalty, emerging business trends and understanding behavioral patterns of customers. The exceptional growth from business intelligence techniques to advanced analytics techniques and the increased number of social media users have raised the adoption of social media analytics across the globe. 

Increasing user engagement on social media along with increased focus on market and competitive intelligence are expected to drive the growth of the global social media analytics market. Additionally, growing digital technologies and online shopping have encouraged enterprises to adopt social media analytics solutions to understand the needs and demand of users and scalability of their product and service. Un-established expertise, heavy lifting and lack of insight are the challenges for the market. The global social media analytics market offers new growth opportunities such as increasing cloud adoption trend and increasing structure and unstructured data in SME across the world are creating the need for the social media analytics market.

Social Media Analytics Market: Report Scope

Segment Analysis Preview

The global social media analytics market can be segmented based on the deployment, component, type, application, end-users, and region. On-premises and cloud are two types of deployment segments.

 The component segment includes software and service, the service segment is further divided into managed service and professional service.  The software segment is expected to hold the highest market share market due to the demand for social media analytics software is rising in the organization. As organizations need a solution to measure, monitor, and analyze data to understand the customer’s sentiments, this software helps companies with data collection and data analysis.

Type segment covers predictive analytics, prescriptive analytics, diagnostic analytics, and descriptive analytics. The predictive analytics tool is expected to grow with the highest rate during the forecast period. The application segment includes sales and marketing management, customer experience management, competitive intelligence, risk management and fraud detection, public safety and law enforcement, and others. The sales and marketing management segment held the largest market share in 2016 and is expected to dominate during the upcoming period as it assists the organization in improving their businesses solutions by analyzing unstructured data and meaningful insights into customer behavior. 

The end-user segment has been segmented based on Banking, Financial Services, and Insurance (BFSI), Government and defense, Retail and eCommerce, Healthcare, Telecommunications and IT, Media, and entertainment, and others.  The retail and eCommerce segment is anticipated to hold the largest social media analytics market share between the years 2021-2028. 

Regional Segment Analysis Preview

North America is projected to dominate the worldwide Social Media Analytics market whereas the APAC region is expected to grow at the highest CAGR during the upcoming period, due to the growing adoption of social media analytics software and services among SMEs across emerging countries such as China, Japan, and India. 

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The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including U.S. Germany, France, UK, China, Japan, India, and Brazil. North America expected to hold the largest market share during the forecasted period due to fast adoption of new and emerging technologies and the presence of the major vendors across the region.

Key Market Players & Competitive Landscape

• Salesforce
• Oracle Corporation
• SAS Institute Inc
• Adobe Systems Incorporated
• International Business Machines Corporation
• GoodData Corporation
• Unmetric Inc
• Netbase Solutions, Inc
• Cision US Inc
• Simplify360, Inc
• Hootsuite Media Inc
• Meltwater
• Germinait Solutions Private Limited
• Brandwatch
• Clarabridge, Inc
• Digimind
• Crimson Hexagon, Inc
• Sysomos
• Simply Measured, Inc
• Socialbakers
• Spredfast, Inc
• Sprinkler, Inc
• Lithium Technologies, Inc
• Synthesio
• Tableau Software Inc

The Global Social Media Analytics market is segmented as follows:   

By Deployment

• On-premises
• Cloud

By Component

• Software
• Services
  • Managed services
  • Professional services

By Type Segment

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

By Application

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

By End-User

• Banking, Financial Services, and Insurance 
• Retail and E-Commerce
• Government and defense
• Healthcare 
• Telecommunications and IT
• Others 

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa