Social Media Analytics market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2020 to 2025 are profiled in this report.
The social media analytics market was valued at USD 5.46 billion in 2019 and is expected to reach USD 20.64 billion by 2025, at a CAGR of 28.2% over the forecast period 2020- 2025.
The Social Media Analytics market is highly competitive and consists of a number of major players. Top Companies like IBM Corporation, SAS Institute Inc., Clarabridge Inc., GoodData Corporation, Crimson Hexagon Inc., Adobe Systems Incorporated(NASDAQ: ADBE), Oracle Corporation, Salesforce.com Inc.(NYSE: CRM) (Tableau Software Inc.), Netbase Solutions Inc., Simply Measured Inc., SAP SE among others
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Scope of the Report
Social media analytics combines monitoring, measurement, and analysis tools to uncover user sentiments, and identify key trends in the studied market. The deployment of social media analytics allows users to mine and decipher a vast amount of data from various social media platforms, such as Facebook, Twitter, and Instagram, among others. It helps the companies to discover customer sentiment about brands, trends, customers concerns, and the efficacy of the organizations marketing campaigns, as well as competitor intelligence.
Key Market Trends
Increased Emphasis on Targeted Marketing and Competitive Intelligence
– A steady decline in the effectiveness of traditional advertising campaigns, coupled with rising social media usage, have prompted businesses to adopt a more data-oriented approach for their marketing strategies. The emergence of social media analytics has transformed the way marketing campaigns are planned and carried out in the present day.
– Social networks such as Facebook have realized the importance of targeted advertising they are offering through paid solutions to businesses, wherein location, demographics, and end-device information of consumers are made available for businesses to reach out to the targeted section of consumers
– In fact, according to HubSpot, a developer, and marketer of software products for inbound marketing and sales, Marketers increased social advertisement budgets by 32% in 2018 alone leading to the production of more ads than ever before.
– In 2019, more and more brands will strengthen their online customer service practices and even move to new platforms that may potentially offer more effective technology for customer service to thrive online, such as WhatsApp and Messenger. The release of the WhatsApp business API in August 2018 will continue to be a total game-changer in the industry. There were 3 million registered users on WhatsApp business by the end of the first quarter 2019.
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North America to Hold Major Share
– According to We Are Social and Facebook data there were about 190 million active users of Facebook in the United States as of April 2019, not surprising for a region with one of the highest social media penetration rates in the world. In fact, according to leading media firm We Are Social as of January 2019, North America had the highest global social network penetration rate at 70% along with East Asia.
– In spite of strong gains from high growth regions like Asia-Pacific, the United States remains the second-largest market for Facebook, in terms of number users. In fact, according to StatCounter, a leading Web analytics firm, Facebook had 45% of the share of visits in the United States in May 2019.
– However, in spite of Facebook’s ubiquity, other social networking sites have also gained market share, especially amongst teenagers and young adults with especially Instagram and Snapchat both growing in popularity continually amongst young American internet users
– Owing to such high participation of the population in different social media, companies, such as Amazon, IBM, and Oracle, have been deploying social media analytics to generate insights and gain a better understanding of the consumer behavior, which further guides their business and strategic decision making.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Social Media Analytics Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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