PUNE, India, August 14, 2017 /PRNewswire/ --
The social media analytics market is forecast to reach $9.54 billion by 2022 from $2.71 billion in 2017 at a CAGR of 28.6% during (2017-2022) driven by the increased focus on the market and competitive intelligence, the increasing user engagement in social media using smartphones, and the need for social media measurement to enhance the customer experience.
Browse 80 Market Data Tables and 44 Figures spread through 186 Pages and in-depth TOC on "Social Media Analytics Market - Global forecast to 2022" http://www.reportsnreports.com/reports/473878-social-media-analytics-market-by-type-applications-customer-segmentation-targeting-multichannel-campaign-management-competitor-benchmarking-customer-behavioral-analysis-marketing-measurement-vertical-region-global-forecast-to-2020.html.
The vendors providing social media analytics software and services include Salesforce (US), Oracle Corporation (US), SAS Institute Inc. (US), Adobe Systems Incorporated (US), International Business Machines Corporation (US), GoodData Corporation (US), Brandwatch (UK), Clarabridge, Inc. (US), Digimind (US), Crimson Hexagon, Inc. (US), Sysomos (Canada), Simply Measured, Inc. (US), Talkwalker Inc. (Luxembourg), Unmetric Inc. (US), Netbase Solutions, Inc. (US), Cision US Inc. (US), Simplify360, Inc. (India), Hootsuite Media Inc. (Canada), Meltwater (US), Germinait Solutions Private Limited (India), Socialbakers (US), Spredfast, Inc. (US), Sprinkler, Inc. (US), Lithium Technologies, Inc. (US), Synthesio (US), and Tableau Software Inc. (US).
In social media analytics market, the sales and marketing management application is expected to record the largest market size in 2017. The need to analyze unstructured data to understand customer behaviours and detect the trend is expected to drive the sales and marketing management application in the global social media analytics market. Advanced analytics, such as predictive and descriptive analytics proved to be beneficial to analyze the historical and real-time data, and to build effective marketing strategies by identifying the market trends. Predictive analytics helps predict the sales figures and take necessary actions proactively.
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The growth of the social media analytics market in APAC has started to gain momentum and is expected to witness the highest growth rate in the next few years. Asia Pacific (APAC) is projected to grow at the highest rate during the forecast period. The rising need to generate insights from the social media data, supplemented with competently designed social media analytics solutions offered by the vendors present in this region, have led APAC to become a highly potential market. This region is witnessing an increasing demand for cloud-driven social media analytics solutions.
The global social media analytics market growth is driven by the increasing user engagement in social media using smart phones and the need for social media measurement to enhance the customer experience. Complexities in the analytical workflow are the biggest restraint for the social media analytics market. Voluminous data generation through social media platforms, the increasing cloud adoption trends, and the high adoption rate of social media analytics solutions among the Small and Medium-Sized Enterprises (SMEs) are expected to create opportunities for the growth of this market.
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In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (22%), Tier 2 (30%) and Tier 3 (48%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (30%), Directors (45%) and others (25%) from various key organizations operating in the global social media analytics market. The primary interviews were conducted worldwide covering regions such as North America (48%), Europe (30%), and Asia Pacific (22%).
Research Coverage: The report segments the social media analytics market based on components, which include software and services; the services segment is segmented into managed services and professional services. Under professional services, the report is further segmented into support and maintenance, and consulting. Based on deployment models, the market is segmented into on-premises and cloud. Under the organization sizes, it is segmented into SMEs and large enterprises, whereas under the application segment, the market is segmented into sales and marketing management, customer experience management, competitive intelligence, risk management and fraud detection, public safety and law enforcement, and others (workforce management and compliance management).
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