Social Media Analytics Market
Social Media Analytics Market- Global Industry Size, Share, Growth, Opportunity and Forecast, 2018-2028, Segmented By Component (Solution, Services), By Analytics Type (Predictive Analytics, Prescriptive Analytics, Diagnostic Analytics, Descriptive Analytics), By Application (Sales And Marketing Management, Customer Experience Management, Public Safety And Law Enforcement, Competitive Intelligence, Risk Management And Fraud Detection, Others), By Deployment Mode (On-Premises, Cloud), By End-User (Banking, Financial Services, And Insurance, Telecommunications And IT, Retail And E-commerce, Healthcare And Life Sciences, Government And Defense, Media And Entertainment, Travel And Hospitality, Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
- Published Date: March 2022
- Report ID: BWC22069
- Available Format: PDF
- Page: 197
Report Overview
The social media analytics market is flourishing at a high rate owing to the increasing popularity of various social media platforms and rapid spike in the number of users along with rising utilization of advanced tools to track and extract data to generate insights by enterprises.Social Media Analytics Market- Industry Trends & Forecast Report 2028
The social media analytics market was worth USD 3.9 billion in 2021 and is further projected to reach USD 17.1 billion by 2028, exhibiting a CAGR of 23% during the forecast period. The growth of the social media analytics market is attributed to the increasing popularity of various social media platforms and a rapid spike in the number of users along with the rising utilization of advanced tools to track and extract data to generate insights by enterprises.
Social Media Analytics - Overview
Social media analytics is the process of collecting data from social media platforms such as Facebook, Instagram, Twitter, etc. The data collected is then identified, analyzed, and interpreted, which is used by companies to sell their products and services. The insights derived from social media analytics are used to make various crucial decisions such as product or service performance or popularity among the target audience. It also helps the companies spot trends in the market.
Social Media Analytics Market Forecast and Trends
Growth Drivers
Increasing Number of Social Media Users Worldwide
The number of users on social media platforms including Facebook, Instagram, Reddit, LinkedIn, etc., is growing at a rapid rate. Facebook (now Meta) is the biggest social media platform worldwide with around 2.91 billion monthly active users. Instagram is also gaining popularity among teens and young adults and has garnered 1 billion monthly active users. The increasing mobile user base, especially in fast growing economies, is emerging as one of the major driving factors for boosting social media penetration. This is anticipated to drive the market growth during the forecast period.
Rising Adoption of Social Media Analytics Among SMEs
Social media analytics is gaining huge popularity among small and medium size enterprises. The increasing number of companies and startups offering budget-friendly social media analytics solutions and services is significant in propelling market growth. The SMEs are deploying these solutions to gain insight into the market and the necessary actions that need to be taken to boost business growth. The increasing penetration of cloud deployment that provides cheaper scalability is also providing lucrative growth opportunities to the market.
Restraints
Lack of Standards and Regulations for Social Data Mining
The lack of standards and regulations regarding social data mining and its utilization for monetary purposes acts as a huge restraining factor for the growth of the social media analytics market. According to a report published on IGI global, the organizations deploying social media analytics still face the issue of concrete return of investment (ROI) along with the rising burden of redundant data being generated. It also raises the concern surrounding users’ privacy and the consent to use their data, which may restrain the market growth in the forecast period.
Impact of COVID-19 on Social Media Analytics Market
The sudden COVID-19 pandemic outbreak provided tremendous growth opportunities to the social media analytics market. The lockdown imposed in different parts of the world hindered the business operations of many sectors. However, the number of social media users spiked along with surging internet traffic during the quarantine period. As a result, social media analytics gained significant traction among both small and large enterprises to track consumer consumption patterns and demand during these unprecedented times, which significantly boosted the growth of the market.
Social Media Analytics Market - By Component
Based on the component, the social media analytics market is segmented into solutions and services. The services segment is further classified into professional services and managed services. The solution segment holds the largest market share. The presence of various social media analytics tools such as Sprout Social, HubSpot, BuzzSumo, Keyhole, Google Analytics, etc., is gaining significant traction among enterprises. These tools help the business have complete authority over their data along with using it to monitor, access, and improve their business performance.
Social Media Analytics Market - By Analytics Type
Based on analytics type, the social media analytics market is segmented into predictive analytics, prescriptive analytics, diagnostic analytics, and descriptive analytics. The descriptive analytics tools account for the largest market share. It uses current and historical data to track and dissect patterns and understand market changes and trends. The companies are deploying descriptive analytics tools to generate business metrics and produce reports that assist them to track business performance. However, prescriptive analytics tools are also growing at a substantial rate.
Social Media Analytics Market - Regional Insights
Geographically, the social media analytics market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America dominates the social media analytics market owing to the presence of leading corporations and financial capability to deploy advanced tools to track consumer behavior and target accordingly. Furthermore, the presence of leading social media analytics providers also makes these services more accessible in this region. Following North America, Europe also covers substantial market share with increasing adoption by both large and small enterprises to boost their revenue.
Competitive Landscape
The leading market players of the social media analytics market are Sprout Social Inc., IBM Corporation, Netbase Solutions Inc., SAS Institute Inc., Salesforce.com Inc., Clarabridge Inc., Oracle Corporation, GoodData Corporation, Adobe Systems Inc., Crimson Hexagon Inc., Konnect Insights, Mnemonic AI, Socialbakers, Hootsuite, BRAND24, Meltwater, Quintly, Simplify360, Cision Ltd., and other prominent players.
The social media analytics market is highly competitive with the presence of several established global as well as regional players. The companies often launch new products to advance their analytical tools and diversify their product portfolio to grab a larger share in the market. They offer suites that target both larger enterprises as well as SMEs. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Recent Development
- In February 2022, Twitter announced the launch of its new feature ‘Twitter Toolbox’ hub, which will highlight Twitter analytics and creation tools to boost the Twitter marketing and growth process.
- In February 2022, PublicRelay, a US-based media monitoring solution provider, announced the launch of a suite of predictive analytics that is capable of identifying articles likely to go viral and predict competitive messaging initiatives.
Scope of the Report
Attributes | Details |
Years Considered | Historical data – 2018-2021 |
Base Year – 2021 | |
Forecast – 2022 – 2028 | |
Facts Covered | Revenue in USD Billion |
Market Coverage | U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia |
Product Service/Segmentation | By Component, By Analytics Type, By Application, By Deployment Mode, By End-User, By Region |
Key Players | Sprout Social Inc., IBM Corporation, Netbase Solutions Inc., SAS Institute Inc., Salesforce.com Inc., Clarabridge Inc., Oracle Corporation, GoodData Corporation, Adobe Systems Inc., Crimson Hexagon Inc., Konnect Insights, Mnemonic AI, Socialbakers, Hootsuite, BRAND24, Meltwater, Quintly, Simplify360, Cision Ltd., and other prominent players. |
By Component
- Solution
- Services
- Professional Service
- Managed Services
By Analytics Type
- Predictive Analytics
- Prescriptive Analytics
- Diagnostic Analytics
- Descriptive Analytics
By Application
- Sales and Marketing Management
- Customer Experience Management
- Public Safety and Law Enforcement
- Competitive Intelligence
- Risk Management and Fraud Detection
- Others
By Deployment Mode
- On-Premises
- Cloud
By End-User
- Banking, Financial Services, And Insurance
- Telecommunications and IT
- Retail and E-commerce
- Healthcare and Life Sciences
- Government and Defense
- Media and Entertainment
- Travel and Hospitality
- Others
By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Research Methodology
- Qualitative Research
- Methodology
- Regional Split of Primary & Secondary Research
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Breakdown of Primary Research Respondents, By Industry Participants
- Market Size Estimation
- Assumptions for the Study
- Market Breakdown & Data Triangulation
- Executive Summary
- Industry Insight and Growth Strategy
- Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Increasing Number Of Social Medial Users Worldwide
- Rising Adoption Of Social Medial Analytics Among SMEs
- Restraints
- Lack Of Standards And Regulations For Social Data Mining
- Opportunities
- Shortage of Skilled Professionals
- Challenges
- Rising Application of Social Media Analytics in Sales and Marketing Management
- Increasing Demand for Cloud Deployment Model
- Growth Drivers
- Recent Developments
- Porter’s Five Forces Analysis
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Intensity of Rivalry
- Threat of New Entrants
- Threat of Substitutes
- Social Media Analytics Market Overview
- Market Estimates & Forecast by Value, 2018-2028
- Market Share & Forecast, by Segment
- By Component
- Solution
- Services
- Professional Service
- Managed Services
- By Analytics Type
- Predictive Analytics
- Prescriptive Analytics
- Diagnostic Analytics
- Descriptive Analytics
- By Application
- Sales And Marketing Management
- Customer Experience Management
- Public Safety And Law Enforcement
- Competitive Intelligence
- Risk Management And Fraud Detection
- Others
- By Deployment Mode
- On-Premises
- Cloud
- By End-User
- Banking, Financial Services, And Insurance
- Telecommunications And IT
- Retail And E-commerce
- Healthcare And Life Sciences
- Government And Defense
- Media And Entertainment
- Travel And Hospitality
- Others
- By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
- By Component
- North America Social Media Analytics Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2018-2028
- Market Share and Forecast
- By Component
- By Analytics Type
- By Application
- By Deployment Mode
- By End-User
- By Country
- U.S.
- Canada
- Market Size and Forecast
- Europe Social Media Analytics Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2018-2028
- Market Share and Forecast
- By Component
- By Analytics Type
- By Application
- By Deployment Mode
- By End-User
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Market Size and Forecast
- APAC Social Media Analytics Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2018-2028
- Market Share and Forecast
- By Component
- By Analytics Type
- By Application
- By Deployment Mode
- By End-User
- By Country
- China
- India
- Japan
- South Korea
- Rest of APAC
- Market Size and Forecast
- LATAM Social Media Analytics Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2018-2028
- Market Share and Forecast
- By Component
- By Analytics Type
- By Application
- By Deployment Mode
- By End-User
- By Country
- Mexico
- Brazil
- Rest of LATAM
- Market Size and Forecast
- MEA Social Media Analytics Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2018-2028
- Market Share and Forecast
- By Component
- By Analytics Type
- By Application
- By Deployment Mode
- By End-User
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- Market Size and Forecast
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share / Ranking Analysis (2021)
- Competitive Benchmarking, By Operating Parameters
- Impact of COVID-19 on Social Media Analytics Market
- Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- Sprout Social Inc.
- IBM Corporation
- Netbase Solutions Inc.
- SAS Institute Inc.
- Salesforce.com Inc.
- Clarabridge Inc.
- Oracle Corporation
- GoodData Corporation
- Adobe Systems Inc.
- Crimson Hexagon Inc.
- Konnect Insights
- Mnemonic AI
- Socialbakers
- Hootsuite
- BRAND24
- Meltwater
- Quintly
- Simplify360
- Cision Ltd.
- Other Prominent Players
- Key Strategic Recommendations
List of Figures
Figure 1: Social Media Analytics Market Segmentation
Figure 2: Social Media Analytics Market Value Chain Analysis
Figure 3: Company Market Share Analysis, 2021
Figure 4: Social Media Analytics Market Size, By Value (USD Billion), 2018-2028
Figure 5: Social Media Analytics Market Share (%), By Component, By Value, 2018-2028
Figure 6: Social Media Analytics Market Share (%), By Analytics Type, By Value, 2018-2028
Figure 7: Social Media Analytics Market Share (%), By Application, By Value, 2018-2028
Figure 8: Social Media Analytics Market Share (%), By Deployment Mode, By Value, 2018-2028
Figure 9: Social Media Analytics Market Share (%), By End-User, By Value, 2018-2028
Figure 10: Social Media Analytics Market Share (%), By Region, By Value, 2018-2028
Figure 11: North America Social Media Analytics Market Size, By Value (USD Billion), 2018-2028
Figure 12: North America Social Media Analytics Market Share (%), By Component, By Value, 2018-2028
Figure 13: North America Social Media Analytics Market Share (%), By Analytics Type, By Value, 2018-2028
Figure 14: North America Social Media Analytics Market Share (%), By Application, By Value, 2018-2028
Figure 15: North America Social Media Analytics Market Share (%), By Deployment Mode, By Value, 2018-2028
Figure 16: North America Social Media Analytics Market Share (%), By End-User, By Value, 2018-2028
Figure 17: North America Social Media Analytics Market Share (%), By Country, By Value, 2018-2028
Figure 18: Europe Social Media Analytics Market Size, By Value (USD Billion), 2018-2028
Figure 19: Europe Social Media Analytics Market Share (%), By Component, By Value, 2018-2028
Figure 20: Europe Social Media Analytics Market Share (%), By Analytics Type, By Value, 2018-2028
Figure 21: Europe Social Media Analytics Market Share (%), By Application, By Value, 2018-2028
Figure 22: Europe Social Media Analytics Market Share (%), By Deployment Mode, By Value, 2018-2028
Figure 23: Europe Social Media Analytics Market Share (%), by End-User, By Value, 2018-2028
Figure 24: Europe Social Media Analytics Market Share (%), By Country, By Value, 2018-2028
Figure 25: Asia-Pacific Social Media Analytics Market Size, By Value (USD Billion), 2018-2028
Figure 26: Asia-Pacific Social Media Analytics Market Share (%), By Component, By Value, 2018-2028
Figure 27: Asia-Pacific Social Media Analytics Market Share (%), By Analytics Type, By Value, 2018-2028
Figure 28: Asia-Pacific Social Media Analytics Market Share (%), By Application, By Value, 2018-2028
Figure 29: Asia-Pacific Social Media Analytics Market Share (%), By Deployment Mode, By Value, 2018-2028
Figure 30: Asia-Pacific Social Media Analytics Market Share (%), By End-User, By Value, 2018-2028
Figure 31: Asia-Pacific Social Media Analytics Market Share (%), By Country, By Value, 2018-2028
Figure 32: Latin America Social Media Analytics Market Size, By Value (USD Billion), 2018-2028
Figure 33: Latin America Social Media Analytics Market Share (%), By Component, By Value, 2018-2028
Figure 34: Latin America Social Media Analytics Market Share (%), By Analytics Type, By Value, 2018-2028
Figure 35: Latin America Social Media Analytics Market Share (%), By Application, By Value, 2018-2028
Figure 36: Latin America Social Media Analytics Market Share (%), By Deployment Mode, By Value, 2018-2028
Figure 37: Latin America Social Media Analytics Market Share (%), By End-User, By Value, 2018-2028
Figure 38: Latin America Social Media Analytics Market Share (%), By Country, By Value, 2018-2028
Figure 39: Middle East & Africa Social Media Analytics Market Size, By Value (USD Billion), 2018-2028
Figure 40: Middle East & Africa Social Media Analytics Market Share (%), By Component, By Value, 2018-2028
Figure 41: Middle East & Africa Social Media Analytics Market Share (%), By Analytics Type, By Value, 2018-2028
Figure 42: Middle East & Africa Social Media Analytics Market Share (%), By Application, By Value, 2018-2028
Figure 43: Middle East & Africa Social Media Analytics Market Share (%), By Deployment Mode, By Value, 2018-2028
Figure 44: Middle East & Africa Social Media Analytics Market Share (%), By End-User, By Value, 2018-2028
Figure 45: Middle East & Africa Social Media Analytics Market Share (%), By Region, By Value, 2018-2028
List of Tables
Table 1: Social Media Analytics Market Size, By Component, By Value, 2018-2028
Table 2: Social Media Analytics Market Size, By Analytics Type, By Value (USD Billion), 2018-2028
Table 3: Social Media Analytics Market Size, By Application, By Value (USD Billion), 2018-2028
Table 4: Social Media Analytics Market Size, By Deployment Mode, By Value (USD Billion), 2018-2028
Table 5: Social Media Analytics Market Size, By End-User, By Value (USD Billion), 2018-2028
Table 6: Social Media Analytics Market Size, By Region, By Value (USD Billion), 2018-2028
Table 7: North America Social Media Analytics Market Size, By Component, By Value (USD Billion), 2018-2028
Table 8: North America Social Media Analytics Market Size, By Analytics Type, By Value (USD Billion), 2018-2028
Table 9: North America Social Media Analytics Market Size, By Application, By Value (USD Billion), 2018-2028
Table 10: North America Social Media Analytics Market Size, By Deployment Mode, By Value (USD Billion), 2018-2028
Table 11: North America Social Media Analytics Market Size, By End-User, By Value (USD Billion), 2018-2028,
Table 12: Europe Social Media Analytics Market Size, By Component, By Value (USD Billion), 2018-2028
Table 13: Europe Social Media Analytics Market Size, By Analytics Type, By Value (USD Billion), 2018-2028
Table 14: Europe Social Media Analytics Market Size, By Application, By Value (USD Billion), 2018-2028
Table 15: Europe Social Media Analytics Market Size, By Deployment Mode, By Value (USD Billion), 2018-2028
Table 16: Europe Social Media Analytics Market Size, By End-User, By Value (USD Billion), 2018-2028
Table 17: Asia-Pacific Social Media Analytics Market Size, By Component, By Value (USD Billion), 2018-2028
Table 18: Asia-Pacific Social Media Analytics Market Size, By Analytics Type, By Value (USD Billion), 2018-2028
Table 19: Asia-Pacific Social Media Analytics Market Size, By Application, By Value (USD Billion), 2018-2028
Table 20: Asia-Pacific Social Media Analytics Market Size, By Deployment Mode, By Value (USD Billion), 2018-2028
Table 21: Asia-Pacific Social Media Analytics Market Size, By End-User, By Value (USD Billion), 2018-2028
Table 22: Latin America Social Media Analytics Market Size, By Component, By Value (USD Billion), 2018-2028
Table 23: Latin America Social Media Analytics Market Size, By Analytics Type, By Value (USD Billion), 2018-2028
Table 24: Latin America Social Media Analytics Market Size, By Application, By Value (USD Billion), 2018-2028
Table 25: Latin America Social Media Analytics Market Size, By Deployment Mode, By Value (USD Billion), 2018-2028
Table 26: Latin America Social Media Analytics Market Size, By End-User, By Value (USD Billion), 2018-2028
Table 27: Middle-East & Africa Social Media Analytics Market Size, By Component, By Value (USD Billion), 2018-2028
Table 28: Middle-East & Africa Social Media Analytics Market Size, By Analytics Type, By Value (USD Billion), 2018-2028
Table 29: Middle-East & Africa Social Media Analytics Market Size, By Application, By Value (USD Billion), 2018-2028
Table 30: Middle-East & Africa Social Media Analytics Market Size, By Deployment Mode, By Value (USD Billion), 2018-2028
Table 31: Middle-East & Africa Social Media Analytics Market Size, By End-User, By Value (USD Billion), 2018-2028
Table 32: Sprout Social Inc. Financial Analysis
Table 33: Sprout Social Inc. Business Overview
Table 34: IBM Corporation Financial Analysis
Table 35: IBM Corporation Business Overview
Table 36: Netbase Solutions Inc. Corporation Financial Analysis
Table 37: Netbase Solutions Inc. Corporation Business Overview
Table 38: SAS Institute Inc. Financial Analysis
Table 39: SAS Institute Inc. Business Overview
Table 40: Salesforce.com Inc. Financial Analysis
Table 41: Salesforce.com Inc. Business Overview
Table 42: Clarabridge Inc. Financial Analysis
Table 43: Clarabridge Inc. Business Overview
Table 44: Oracle Corporation Financial Analysis
Table 45: Oracle Corporation Business Overview
Table 46: GoodData Corporation Financial Analysis
Table 47: GoodData Corporation Business Overview
Table 48: Adobe Systems Inc. Financial Analysis
Table 49: Adobe Systems Inc. Business Overview
Table 50: Crimson Hexagon Inc. Financial Analysis
Table 51: Crimson Hexagon Inc. Business Overview
Table 52: Konnect Insights Financial Analysis
Table 53: Konnect Insights Financial Analysis
Table 54: Mnemonic AI Financial Analysis
Table 55: Mnemonic AI Financial Analysis
Table 56: Socialbakers Financial Analysis
Table 57: Socialbakers Financial Analysis
Table 58: Hootsuite Financial Analysis
Table 59: Hootsuite Financial Analysis
Table 60: BRAND24 Financial Analysis
Table 61: BRAND24 Financial Analysis
Table 62: Meltwater Financial Analysis
Table 63: Meltwater Financial Analysis
Table 64: Quintly Financial Analysis
Table 65: Quintly Financial Analysis
Table 66: Simplify360 Financial Analysis
Table 67: Simplify360 Financial Analysis
Table 68: Cision Ltd. Financial Analysis
Table 69: Cision Ltd. Financial Analysis
Market Segmentation
By Component
- Solution
- Services
- Professional Service
- Managed Services
By Analytics Type
- Predictive Analytics
- Prescriptive Analytics
- Diagnostic Analytics
- Descriptive Analytics
By Application
- Sales and Marketing Management
- Customer Experience Management
- Public Safety and Law Enforcement
- Competitive Intelligence
- Risk Management and Fraud Detection
- Others
By Deployment Mode
- On-Premises
- Cloud
By End-User
- Banking, Financial Services, And Insurance
- Telecommunications and IT
- Retail and E-commerce
- Healthcare and Life Sciences
- Government and Defense
- Media and Entertainment
- Travel and Hospitality
- Others
By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
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