The increasing need for social media analysis in the era of social media marketing has been driving the organizational demand for a solutions which can monitor and analyze the online trend from the raw data of passenger traffics. Further, the growing inclination of customers toward the adoption of mobile phones and tablets, along with ever-growing passenger traffic on online social platforms, have resulted in the generation of huge volume of data, thus generating the demand for advanced data analytics tools.
According to MarkNtel Advisors’ research report titled “Global Social Media Analytics Market Analysis, 2020”, the market size of Global Social Media Analytics is forecast to grow at a CAGR of around 26% during 2020-25. The increasing spending on the analytics, rising corporate focus toward business intelligence, and the development of analytical tools to the advanced analytical technologies, is expected to maintain the upward trend for the global social media analytics market in the years to come.
Furthermore, the noticeable increase in the customer traffic over the social media websites in the past decade has been propelling the social media analytics market growth. According to Facebook, it experienced user traffic of 1,562 million active traffic on a daily basis, as of the 2019’s first quarter report. Also, Twitter also confirmed the daily increase of viewer’s traffic by 9%, with an average volume of 500 million user posting their tweets each day.
Competitive Intelligence & Risk Management and Fraud Detection Segment Anticipated to Grow at an Exponential CAGR
Based on the application segmentation of Global Social Media Analytics market, the competitive intelligence, and risk management and fraud detection segment are expected to grow at the fastest CAGR during the forecast period 2020-25, as stated in MarkNtel Advisors’ research report “Global Social Media Analytics Market Analysis, 2020”. The market shares of both the applications are forecast to register an uptick during 2020-25. The inscape capability of the analytic tools to extract and efficiently analyze the data from multiple resources and transform into meaningful information for application in the corporate and security sectors, has been greatly augmenting the segment growth.
North America Region Holding the Largest Market Share in the Global Social Media Analytics Market
Based on the geographical segmentation, the North America region held the highest market share in the global social media analytics market during 2015-19. According to one of the leading global socially–led creative agencies, Are We Social, around 190 million active users were registered on Facebook as of April 2019 in the United States, and the largest customer base on Snapchat in October 2019. Also, the North America region experienced 70% of the social media penetration, with largest market share in the global market in January 2019. However, the Asia-Pacific region is anticipated to register a robust CAGR in the global social media analytics market, on account of developing e-commerce businesses on the social media websites. According to Are We Social, India was ranked on the 2nd position with 73 million user traffic on Instagram and leading position on the Facebook platform as of October 2019.
According to MarkNtel Advisors, some the of key competitors operating in the Global Social Media Analytics market include Oracle, IBM, Clarabridge, Talkwalker, Hootsuite, Salesforce, Adobe, SAS Institute, NetBase, Digimind, and others, etc.
“Global Social Media Analytics Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decision, hotspots and growth opportunities available for social media analytics providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Market Shares and Segmentation:
1. By Application (Sales & marketing Management, Customer Experience Management, Competitive Intelligence, Risk Management & Fraud Detection, Public Safety & Law Enforcement, Others)
2. By Industry Verticals (BFSI, Telecommunication & IT, Healthcare, Government & Defense, Media & Entertainment, Retail & Ecommerce, Travel & Hospitality, Others)
3. By Component (Software, Services)
4. By Organization Size (Small & Medium Sized Enterprises, Large Enterprises)
5. By Deployment Model (On-Premises, Cloud)
6. By Region (North America, South America, Europe, Middle East and Africa, Asia- Pacific)
7. By Country (US, Canada, Mexico, Brazil, Argentina, Germany, France, UK, Russia, Italy, Saudi-Arabia, UAE, China, India, Japan, Australia)
8. By Company (Oracle, IBM, Clarabridge, Talkwalker, Adobe, SAS Institute, NetBase, Digimind, and others)
Key questions answered in the study:
1. What are the key market statistics including Market size- By Value, Forecast, Market segmentation and market shares based on several sub categories, etc. of Global social media analytics market?
2. What are the current and future trends of the Global Social Media Analytics industry?
3. How the industry has been evolving in terms of end-user demand and application areas?
4. Who are the leading competitors in the global social media analytics market? What are the approximate market shares of leading companies operating in the market?
5. What are the key growth drivers and challenges for the Global Social Media Analytics industry?
6. What are the customer orientation, purchase behavior, and expectations from the Social Media Analytics suppliers across various regions?