About Social Media Analytics
The terms social media is defined as a platform where a website or application is enabled by the users in order to participate in social networking activities such as creating, sharing, or exchanging information, ideas, and pictures/videos. Social media analytics is the process of collating data from blogs and social media websites and deriving meaningful business-related decisions. Social Media Analytics process includes all the software and analyzing tools that are used to analyze the unstructured data. It helps the user to create real-time reports measuring the performance of the company’s profile on social media websites. It (social media analytics) is used to gauge consumer behavior and formulate effective marketing strategies
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The social media analytics landscape is constantly evolving, and new players and innovative solutions are emerging regularly. Stay informed by following industry publications, attending conferences, and exploring the offerings of different platforms to find the best fit for your needs. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Social Media Analytics market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Salesforce (United States), Oracle Corporation (United States), SAS Institute Inc. (United States), Adobe Systems Incorporated (United States), International Business Machines Corporation (United States), GoodData Corporation (United States), Brandwatch (UK), Clarabridge, Inc. (United States), Digimind (United States), Crimson Hexagon, Inc. (United States) and Sysomos (Canada), are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Simply Measured, Inc. (United States), Talkwalker Inc. (Luxembourg), Unmetric Inc. (United States) and Netbase Solutions, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Social Media Analytics market by Type (Support and Maintenance, Consulting Services and Training and Education), Application (Customer Segmentation and Targeting, Multichannel Campaign Management, Competitor Benchmarking, Customer Behavioral Analysis, Marketing Measurement and Others) and Region.
On the basis of geography, the market of Social Media Analytics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Component Type, the sub-segment i.e. Software will boost the Social Media Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Type, the sub-segment i.e. Small and Medium-Sized Enterprises will boost the Social Media Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technologies , the sub-segment i.e. Machine Learning will boost the Social Media Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Social Media Analytics Ecosystem
Market Growth Drivers:
Growing Brand Recognition due to Social Media, Increasing the Use of Social Media by Using Smartphones and Increase in the Number of Social Media Users
Challenges:
Lack of Awareness for Social Media Analytics and Lack of a Single Solution to Manage the Unstructured Data
Restraints:
Lack of Awareness Regarding Social Media Analytics and lack of skilled Expertise on Social Media Analytics
Opportunities:
Increasing Cloud Adoption Trends, High Adoption Rate of Social Media Analytics Solutions Among SMEs and Advanced targeting options
Market Leaders and their expansionary development strategies
In August 2023, Meltwater partnered with ZoomInfo entered into the collaboration combines Meltwater's media intelligence with ZoomInfo's B2B data platform, empowering businesses to identify and engage with relevant influencers and target audiences with greater precision.
In October 2023, Talkwalker AI Analytics Engine Enhanced its AI capabilities with advanced topic modeling and conversation clustering, enabling users to identify emerging trends and hidden patterns within social media data.
Key Target Audience
Service providers and distributors, Social media analytics application builders, Independent Software Vendors (ISVs), Analytics consulting companies, Enterprises and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.