According to CMi Global Social Media Analytics Market Size, Forecast, Analysis & Share Surpass US$ 10.2 Billion By 2030
The Social Media Analytics Market was at US$ 4.5 Billion in 2021 and is growing to approx US$ 10.2 Billion by 2030, with a CAGR growth of 14%, 2022 and 2030.
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SANDY, UTAH, UNITED STATES, January 31, 2023 /EINPresswire.com/ — According to the study, The Global Social Media Analytics Market was estimated at USD 4.5 Billion in 2021 and is anticipated to reach around USD 10.2 Billion by 2030, growing at a CAGR of roughly 14% between 2022 and 2030.
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Social Media Analytics Market: Overview
Social Media Analytics includes analyzing data from social conversations in order to comprehend and apply it. Tracking conversations and measuring campaigns are examples of this type of analysis. It also entails determining how social activities affect business results. To get a comprehensive picture of the customer experience, the best brands often combine Social Media Analytics with customer commentary from surveys, call center agent notes, ratings and review sites, and other customer feedback.
Social Media Analytics Market: Growth Drivers
One of the key factors boosting Social Media Analytics market growth is the growing need to understand consumer needs and market trends. The widespread use of smartphones, together with the popularity of social media, will further drive market growth in the coming years.
Social media has transformed the marketing and promotional actions of businesses. Analytics in social media allows for the distribution of targeted messages via a variety of tools and channels. To realize a company’s full potential, it must first understand the opinions and preferences of its target audience. Thus, Social Media Analytics helps organizations analyze such information by collecting and analyzing data from various platforms.
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Key Insights:
A) As per the analysis shared by our research analyst, the Social Media Analytics market is estimated to grow annually at a CAGR of around 14% over the forecast period (2022-2030).
B) In terms of revenue, the Social Media Analytics market size was valued at around USD 4.5 Billion in 2021 and is projected to reach USD 10.2 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on component segmentation, the software segment was estimated to hold the maximum market share in the year 2021.
D) Based on deployment segmentation, the cloud-based segment was the leading revenue-generating category in 2021.
E) Based on analytics segmentation, the descriptive analytics segment is projected to exhibit a higher CAGR during 2022-2030.
F) Based on organization size segmentation, the SME segment is expected to experience tremendous growth during the forecast period.
G) Based on industry segmentation, the retail & e-commerce segment led the market in 2021.
H) On the basis of geography, the North American region was the leading revenue generator in 2021.
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Regional Landscape
The growing need to generate consumer engagement indicators for organizational growth is expected to drive Social Media Analytics market growth. On the other hand, increased knowledge of benefits such as increased company productivity provided by important regional suppliers is a factor helping the market’s growth. Most businesses and industries in North America consider competitive intelligence, marketing, and sales management extremely successful. The North American Social Media Analytics market is noticing a significant adoption of Social Media Analytics due to expanding digitization and high spending capability of the organizations.
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Key Players
IBM Corporation
Clarabridge Inc.
SAS Institute Inc.
GoodData Corporation
Crimson Hexagon Inc.
Oracle Corporation
Adobe Systems Inc.
com Inc. (Tableau Software Inc.)
Sprout Social Inc.
Netbase Solutions Inc.
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The Social Media Analytics Market is segmented as follows:
By Component
Solution
Services
By Deployment
On-Premises
Cloud
By Analytics
Predictive analytics
Prescriptive analytics
Diagnostics analytics
Descriptive analytics
By Organization Size
Large Enterprises
SMEs
By Industry
Retail & E-commerce
BFSI
Healthcare
IT & Telecom
Government & Defense
Travel & Hospitality
Others
By Geography
North America
The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa
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