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The social media analytics market was valued at US$4.5 billion in 2021 and is expected to reach approximately US$10.2 billion by 2030, growing at a CAGR of 6% from 2022-2030 .
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SANDY, UTAH, USA, Sept. 5, 2022 /EINPresswire.com/ — According to the study, the global social media analytics market was estimated at USD 4.5 billion in 2021 and is expected to reach around 10.2 billion USD by 2030, growing at a CAGR of around 6% between 2022 and 2030.
Social Media Analytics Market: Overview
The process of collecting and analyzing audience data shared on social media networks to improve an organization’s strategic business decisions is known as Social Media Analytics. Social media can help businesses by allowing marketers to identify consumer behavior trends that are relevant to a company’s industry and determine the success of marketing efforts.
Another important way Social Media Analytics helps marketing campaigns is by providing data that can be used to calculate a campaign’s return on investment (ROI) based on traffic from various social media channels. Marketers can also examine the performance of various social platforms, such as Facebook, LinkedIn, and Twitter, as well as specific social media posts, to specify which posts and topics resonate best with a target audience.
Social Media Analytics Market: Growth Drivers
The growing number of social media users is propelling the Social Media Analytics market and is expected to do so throughout 2022-2030. This allows social media analytics companies to collect better customer data and conduct more in-depth customer behavioral analysis. The use of smartphones, laptops and personal computers with Internet access has grown over time. This had a noticeable impact on social media platforms. People have started using social media for communication, online shopping and other social connectedness activities as digital technologies have advanced. These have encouraged companies to apply social media analytics solutions to better understand the demands and desires of their customers, as well as the viability of their products.
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Key ideas:
A) According to the analysis shared by our research analyst, the social media analytics market is expected 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 10.2 billion in 2021. Due to various driving factors, the market is expected to grow at a significant rate.
D) Based on component segmentation, software segment was estimated to hold maximum market share in 2021.
E) Based on deployment segmentation, the cloud-based segment was the top revenue-generating category in 2021.
F) Based on the analytics segmentation, the descriptive analytics segment is expected to show a higher CAGR during the period 2022-2030.
G) Based on the organization size segmentation, the SME segment is expected to witness considerable growth over the forecast period.
h) Based on industry segmentation, retail and e-commerce segment dominated the market in 2021.
I) Based on geography, the North American region was the top revenue generator in 2021.
Press Release for Social Media Analytics Market: https://www.custommarketinsights.com/press-releases/social-media-analytics-market/
Regional landscape
During the period 2022-2030, the North American region is expected to hold the largest market share. Most organizations in North America consider sales and marketing management and competitive intelligence to be highly effective. Europe, on the other hand, is gradually integrating these advanced solutions into its businesses. Due to increasing digitalization and the demand for centrally managed systems, APAC is seeing a significant increase in the use of social media analytics.
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Key players
IBM Corporation
Clarabridge Inc.
SAS Institute Inc.
Good Data 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
The solution
Services
Per deployment
On the site
Cloud
By Analytics
Predictive analytics
Prescriptive Analytics
Diagnostic analysis
Descriptive analysis
By organization size
Large companies
SME
By industry
Retail and e-commerce
BFSI
Health care
IT & Telecom
Government & Defense
travel and hospitality
Others
By geography
North America
United States
Canada
Mexico
Europe
Great Britain
Germany
France
Italy
Russia
The 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 the Middle East and Africa
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