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Social Media Analytics Market 2017 Emerging Trends, Competitive Analysis And Growth To 2023 | MRFR

Added: (Fri Jan 25 2019)

Pressbox (Press Release) - Market Overview
The global social media analytics market is expected to grow at approx. USD 7 Billion by 2023, at 28% of CAGR between 2017 and 2023. Social media analytics is a process of gathering data from social media websites and analyzing that data to make business decisions. It uses social media analytics tools to extract valuable hidden insights about the market. It is also referred to as social media listening or social media monitoring. Social media analytics is a six step process which comprises of identification, extraction, cleaning, analyzing, visualization and interpretation.
Key Players:
The prominent players in social media analytics market are – SAS Institute (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Adobe Systems (U.S.), SAP SE (Germany), Salesforce.com (U.S), GoodData (U.S), HootSuite Media (U.S), Tableau Software (U.S), NetBase Solutions (U.S), among others.

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The market’s growth is driven by factors such as the growing number of social media users, intense focus on market intelligence and a surge in expenditure on analytics. The attractiveness of social media sites has increased the users on these platforms, thereby elevating the need for analyzing the traffic on these sites so that valuable data relating to the consumer’s preferences and their buying habits can be collected. The necessity to formulate better business strategies and to have significant business intel that can enable companies to establish their lead in the market is among the top factors motivating the expansion of the market in the forecast period. Moreover, the rising need for improving consumer engagement by is also raising the growth potential of the market.
Segmental Analysis
The social media analytics market can be segmented on the basis of deployment, type, application and vertical. The type based segmentation of the market comprises of solution, services, support & maintenance, consulting services and training & education. By Deployment, the market consists of segments such as on premise and on cloud. The segmentation of the social media analysts market on the basis of organization size consists of large enterprises, small & medium enterprises. The application segment of the market comprises of multichannel campaign management, customer segmentation & targeting, customer behavioral analysis, competitor bench marking, marketing measurement and other. The vertical segment of the market consists of healthcare, BFSI, education, it & telecommunication, retail, media & entertainment, government and others.
Competitive Analysis
The market shows enormous potential for developing at an accelerated rate. The enhanced financial liquidity of the competitors in the market has upgraded thus providing fresh chances for expansion of the market. The market is very distinctive in terms of segments in relation to the products as well as the end users that are a part of the market. The market attractiveness and competitors’ dynamics is considerably enhanced by the strategies that are being deployed by market players. The product offering of the market has expanded vastly as related to the past few years, thus making the market more rewarding for current and new contenders.

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Submitted by:Dhanashree Pawar
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