Market Definition
Social Media Analytics (SMA) involves gathering & evaluating data from different social networking sites to gather insights into customer intentions & behaviors. It offers a real-time close-up of online interactions to help marketers better understand their customers, evaluate the performance of an organization's social media channels, & adjust their marketing campaigns to contemplate customer preferences optimally.
Market Insights
The Global Social Media Analytics Market is projected to grow at a CAGR of around 26% during the forecast period, i.e., 2023-28. Most of the market expansion would be driven by the rapidly rising number of social media users due to the growing penetration of the internet & smartphones, coupled with the increasing number of e-commerce websites and significant developments in data analytics tools.
Report Coverage | Details |
---|---|
Study Period | Historical Data: 2018-21 |
Base Year: 2022 | |
Forecast Period: 2023-28 | |
CAGR (2023-2028) | 26% |
Regions Covered | North America: The US, Canada, Mexico |
South America: Brazil, Argentina | |
Europe: Germany, The UK, France, Russia, Italy | |
Middle East & Africa: Saudi Arabia, The UAE | |
Asia-Pacific: China, Japan, India, Australia | |
Key Companies Profiled |
Oracle, IBM, Clarabridge, Talkwalker, Adobe, SAS Institute, NetBase, Digimind, Salesforce, Hootsuite, Simplify 360, Brandwatch |
Unit Denominations | USD Million/Billion |
In addition, with the mounting focus of corporates on attaining market intelligence, there's an ever-increasing deployment of these advanced data analytics tools across numerous businesses to monitor, engage, understand, and analyze customers & brand reputation, i.e., another prominent aspect expected to boost the market through 2028.
Moreover, as more & more emerging technologies become integrated and cloud-based analytics tools witness high demand, it would create new directions for the Global Social Media Analytics Market to expand significantly in the coming years.