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Social media Analytics Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, October 9, 2024 /EINPresswire / -- The social media analytics market has experienced robust growth in recent years, expanding from $11.11 billion in 2023 to $14.1 billion in 2024 at a compound annual growth rate (CAGR) of 26.9%. The growth in the historic period can be attributed to proliferation of social media platforms, increasing user engagement, business embrace of social media, marketing and advertising evolution, influence of user-generated content, regulatory compliance and risk mitigation.
What Is The Estimated Market Size Of The Global Social Media Analytics Market And Its Annual Growth Rate?
The social media analytics market is projected to continue its strong growth, reaching $38.65 billion in 2028 at a compound annual growth rate (CAGR) of 28.7%. The growth in the forecast period can be attributed to privacy concerns and compliance, video and visual content analytics, employee advocacy programs, social media analytics in political campaigns, emotion and behavioral analytics. Major trends in the forecast period include cross-platform analytics, e-commerce integration, geospatial and location-based analytics, emergence of niche social platforms, subscription-based analytics services.
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Growth Driver Of The Social Media Analytics Market
The surge in the number of social media users across the globe is contributing to the growth of the social media analytics market. The use of mobile, laptops, and computers with access to the internet has been increasing over the years. The internet has allowed people to communicate across international borders. Furthermore, social networking has aided people in expanding their networks, making new friends, advancing their professions, making connections, recruiting employees, and locating people with scarce abilities, all of which contributed to their popularity.
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Who Are The Leading Competitors In The Social Media Analytics Market Share?
Key players in the social media analytics market include International Business Machines Corporation, Google LLC, Oracle Corporation, SAS Institute Inc., Digimind, Hootsuite Inc., Talkwalker S. A., Oktopost Technologies Inc., Simplify360 Inc., Frrole Inc., Heuritech SAS, Salesforce Inc., Adobe Inc., Clarabridge Inc., Netbase Solutions Inc., Brandwatch Limited, Gooddata Corporation, Simply Measured Inc., Sysomos Inc., Sprout Social Inc., SAP SE, Unmetric Inc., Rival IQ Inc., Meltwater Us Holdings Inc., SpreadFast Inc., MetaQuotes Software Corp., Emplifi Inc. (Socialbakers), Sprinklr Inc., Synthesio Inc., Brand24 Inc., Qualtrics LLC, Cision Ltd., Zoho Corporation Pvt. Ltd.
What Are The Dominant Trends In Social Media Analytics Market Growth?
Technological advancement is a key trend gaining popularity in the social media analytics market. Technologies such as artificial intelligence (AI) in social media have the potential to revolutionize how brands market themselves across platforms such as Facebook, Instagram, Twitter, and LinkedIn. It can automate many tedious tasks associated with social media management.
How Is The Global Social Media Analytics Market Segmented?
1) By Component: Software, Services
2) By Deployment: On-Premise, Cloud
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Customer Segmentation And Targeting, Competitor Benchmarking, Multichannel Campaign Management, Customer Behavioural Analysis, Marketing Management
5) By End-User Industry: Banking And Financial Services, IT And Telecommunications, Retail, Healthcare, Government Services, Media And Entertainment, Utilities, Transportation And Logistics, Other End Users
Geographical Insights: North America Leading The Social Media Analytics Market
North America was the largest region in the social media analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the social media analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Social Media Analytics Market Definition
The social media analytics market consists of sales of social media analytics by entities (organizations, sole traders, and partnerships) that refers to the ability to gather and interpret the collected data from social channels to support business decisions and measure the performance of actions based on the decisions through social media. Tracking conversations and measuring campaigns are major components of social media analytics. It also involves figuring out how social activities are influencing the business results.
Social Media Analytics Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global social media analytics market report covering trends, opportunities, strategies, and more
The Social Media Analytics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on social media analytics market size, social media analytics drivers and trends, social media analytics major players and social media analytics market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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