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Global Social Media Analytics Market (by Deployment Type, Component, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)

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    Report

  • 139 Pages
  • October 2023
  • Region: Global
  • Koncept Analytics
  • ID: 5891839
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This report comes with 10% free customization, enabling you to add data that meets your specific business needs.

Social media analytics is the practice of acquiring and analyzing data from social media platforms like as Facebook, Instagram, LinkedIn, and Twitter. Marketers regularly employ it to monitor internet discussions about products and companies.

In the coming years, demand for social media analytics is going to be heavily influenced by the growing popularity of mobile e-commerce, the need to improve customer services, their cost-effectiveness, ease of availability, the increasing use of text analysis to improve customer experience, and the development of image analysis solutions. The global social media analytics market is expected to reach US$9.60 billion in 2023, growing at a CAGR of 33.90%, during the forecast period.

Segment Covered

By Deployment Type: The report offers the bifurcation of the global social media analytics market into two deployment types: On-Premises and Cloud. Cloud social media analytics market is anticipated to grow at the highest CAGR in the future as it is extremely cost-effective and can be used to store data and perform analytics, thereby expanding the growth. The market would be driven by increased storage capacity, enhanced performance of the internet, and provide further improvement in cloud services.

By Component: In terms of component, the report divides the global social media analytics market into two components: Services and Software. Services segment held the maximum share in the global social media analytics market. The growing adoption of social media analytics across all major verticals, such as BFSI, telecom and IT, retail and e-commerce, health care and life science, etc. is primarily boosting the demand for social media analytics services in the market. Whereas, the solutions segment is expected to hold a larger market share during the forecast period mainly due to adaptation by industries vertically which not only includes private players for advertisement purposes but also includes pharmaceutical industries, health and lifestyle, media industry, telecom industry, etc.

Geographic Coverage

According to this report, the global social media analytics market can be divided into five major regions: Asia Pacific, North America, Europe, Latin America and Middle East and Africa. The countries covered in Asia Pacific region are China, Japan, India, and Rest of Asia Pacific, while North America includes the US, Canada, and Mexico. Moreover, the UK, Germany, Spain and the Rest of Europe are included in the Europe region. The North America social media analytics market enjoyed the largest market share, primarily owing to high adoption of digital technologies among individuals, rising social media penetration especially among teenagers and young adults, and the growing adoption of software as a service (SaaS) model platform. While the US continues to be a prominent region of North America social media analytics market, accounting for the adoption of different analytical solutions and the rising penetration of social media.

Top Impacting Factors

Growth Drivers

  • Rising Number of Internet Users
  • Growing Influence of Social Media
  • Escalating Data Generation
  • Growing Digital Advertisement Spending

Challenges

  • Large Number of Victims of Cyber Crime
  • Lack of Standard Measures for Social Media Analytics

Trends

  • Rising Adoption of 5G Connections
  • Surge in Adoption of Cloud Computing
  • Integration of Artificial Intelligence (AI) with Social Media Analytics Software
  • Growth in Data Analytic Services

Driver: Escalating Data Generation

With growing data creation, the companies can get better insights about consumers. Such insights can provide valuable input used for decisions involving, for example product development, which enable markets to expand and may lead to a competitive advantage. Data generation is skyrocketing, interaction with the outside world becoming increasingly complex with new media platforms, continuous content production and the blurring of the roles of content production and consumption. Hence, a need for social media analytics has emerged to be essential, giving to boost to the social media analytics market in the coming years.

Challenge: Large Number of Victims of Cyber Crime

Social media data, if not preserved carefully by the companies, may give rise to data compromised issues which may impact the trust and reliability among the stakeholders of the social media analytical company. An attacker could exploit social media data as vulnerable to access sensitive data, steal resources, and destroy equipment. The social media analytics software is connected through smart phones, tablets and personal computers (PCs) and there is an increasing chance of this software of being hacked. Therefore, the rising cyber crime would negatively impact the growth of the social media analytics market.

Trend: Growth in Data Analytic Services

As the analytics tools become more sophisticated, marketers are able to make more on-point decisions about the direction in which a business is headed. This results in better profitability for a business and allows customers to have a more pleasing experience. By having access to big data on social media, it would open the doors to opportunities and via tools that help with analysis. Thus, the digital marketing scene would be changing even faster. With access to intuitive insights about the social media performance of a brand, the patterns would be more noticeable which otherwise had been missed. Therefore, the growing data analytic services is essential for the overall social media analytics solutions, thus augmenting the market growth.

The COVID-19 Analysis

The COVID-19 pandemic has had a favorable impact on the worldwide social media analytics market's growth. People began using social media tools to communicate around the world during the COVID-19 pandemic. People stayed at home due to the lockdown, and social media platforms were congested at the moment. Many governments, public officials, and hospitals used social media platforms to interact with the public and disseminate knowledge about infectious illness safety and actions to be done.

Analysis of Key Players

The social media analytics market is fragmented with the presence of a large number of players dominating worldwide. Key players of the social media analytics market are IBM Corporation, Adobe Inc., Salesforce.com, Inc., Oracle Corporation, Alphabet Inc. (Google), Hootsuite Inc., SAS Institute, NetBase Quid, GoodData Corporation, Digimind Company, Cision Ltd. (Brandwatch Company), QualtricsXM (Clarabridge), Sprout Social, Talkwalker Inc., and Khoros LLC.

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Table of Contents


1. Executive Summary
2. Introduction
2.1 Social Media Analytics: An Overview
2.1.1 Benefits of Social Media Analytics
2.2 Social Media Analytics Segmentation: An Overview
2.2.1 Social Media Analytics Segmentation

3. Global Market Analysis
3.1 Global Social Media Analytics Market: An Analysis
3.1.1 Global Social Media Analytics Market: An Overview
3.1.2 Global Social Media Analytics Market by Value
3.1.3 Global Social Media Analytics Market by Deployment Type (On-Premises and Cloud)
3.1.4 Global Social Media Analytics Market by Component (Services and Software)
3.1.5 Global Social Media Analytics Market by Region (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
3.2 Global Social Media Analytics Market: Deployment Type Analysis
3.2.1 Global Social Media Analytics Market by Deployment Type: An Overview
3.2.2 Global On-Premises Social Media Analytics Market by Value
3.2.3 Global Cloud Social Media Analytics Market by Value
3.3 Global Social Media Analytics Market: Component Analysis
3.3.1 Global Social Media Analytics Market by Component: An Overview
3.3.2 Global Services Social Media Analytics Market by Value
3.3.3 Global Software Social Media Analytics Market by Value

4. Regional Market Analysis
4.1 North America Social Media Analytics Market: An Analysis
4.1.1 North America Social Media Analytics Market: An Overview
4.1.2 North America Social Media Analytics Market by Value
4.1.3 North America Social Media Analytics Market by Region (The US, Canada and Mexico)
4.1.4 The US Social Media Analytics Market by Value
4.1.5 Canada Social Media Analytics Market by Value
4.1.6 Mexico Social Media Analytics Market by Value
4.2 Asia Pacific Social Media Analytics Market: An Analysis
4.2.1 Asia Pacific Social Media Analytics Market: An Overview
4.2.2 Asia Pacific Social Media Analytics Market by Value
4.2.3 Asia Pacific Social Media Analytics Market by Region (China, India, Japan and Rest of Asia Pacific)
4.2.4 China Social Media Analytics Market by Value
4.2.5 India Social Media Analytics Market by Value
4.2.6 Japan Social Media Analytics Market by Value
4.2.7 Rest of Asia Pacific Social Media Analytics Market by Value
4.3 Europe Social Media Analytics Market: An Analysis
4.3.1 Europe Social Media Analytics Market: An Overview
4.3.2 Europe Social Media Analytics Market by Value
4.3.3 Europe Social Media Analytics Market by Region (UK, Germany, Spain and Rest of Europe)
4.3.4 UK Social Media Analytics Market by Value
4.3.5 Germany Social Media Analytics Market by Value
4.3.6 Spain Social Media Analytics Market by Value
4.3.7 Rest of Europe Social Media Analytics Market by Value
4.4 Latin America Social Media Analytics Market: An Analysis
4.4.1 Latin America Social Media Analytics Market: An Overview
4.4.2 Latin America Social Media Analytics Market by Value
4.5 Middle East and Africa Social Media Analytics Market: An Analysis
4.5.1 Middle East and Africa Social Media Analytics Market: An Overview
4.5.2 Middle East and Africa Social Media Analytics Market by Value

5. Impact of COVID-19
5.1 Impact of COVID-19 on Social Media Analytics
5.1.1 Impact of COVID-19 on Social Media Market
5.1.2 Social Media Companies’ Response towards the Pandemic
5.1.3 Impact of COVID-19 on Social Media Analytics Market
5.1.4 Factors Influencing Social Media Analytics Market Due to COVID-19
5.1.5 Post COVID-19 Impact

6. Market Dynamics
6.1 Growth Driver
6.1.1 Rising Number of Internet Users
6.1.2 Growing Influence of Social Media
6.1.3 Escalating Data Generation
6.1.4 Increasing Number of Smartphone Users
6.1.5 Growing Digital Advertisement Spending
6.1.6 Increased Focus on Targeted marketing and Competitive Intelligence
6.1.7 High Rate of Adoption in SMEs
6.2 Challenges
6.2.1 Large Number of Victims of Cyber Crime
6.2.2 Lack of Standard Measures for Social Media Analytics
6.2.3 Complexities in Analytical Workflow and Harsh Regulations
6.3 Market Trends
6.3.1 Rising Adoption of 5G Connections
6.3.2 Surge in Adoption of Cloud Computing
6.3.3 Integration of Artificial Intelligence (AI) with Social Media Analytics Software
6.3.4 Growth in Data Analytic Services
6.3.5 Increasing Adoption of Internet of Things (IoT)

7. Competitive Landscape
7.1 Global Social Media Analytics Players by Market Share
7.1.1 Global Social Media Analytics Players by Market Share
7.2 Global Social Media Analytics Market Players by Number of Companies using the Technology
7.3 Global Social Media Analytics Market Players by the Markets Comparison

8. Company Profiles
8.1 Salesforce.com, Inc.
8.1.1 Business Overview
8.1.2 Operating Regions
8.1.3 Business Strategy
8.2 IBM Corporation
8.2.1 Business Overview
8.2.2 Operating Segments
8.2.3 Business Strategy
8.3 Oracle Corporation
8.3.1 Business Overview
8.3.2 Operating Businesses
8.3.3 Business Strategy
8.4 Adobe Inc.
8.4.1 Business Overview
8.4.2 Operating Segments
8.4.3 Business Strategy
8.5 Alphabet Inc. (Google)
8.5.1 Business Overview
8.5.2 Operating Segments
8.5.3 Business Strategy
8.6 SAS Institute
8.6.1 Business Overview
8.6.2 Business Strategy
8.7 Hootsuite Inc.
8.7.1 Business Overview
8.7.2 Business Strategy
8.8 NetBase Quid
8.8.1 Business Overview
8.8.2 Business Strategy
8.9 GoodData Corporation
8.9.1 Business Overview
8.9.2 Business Strategy
8.10 Digimind Company
8.10.1 Business Overview
8.10.2 Business Strategy
8.11 Talkwalker Inc.
8.11.1 Business Overview
8.11.2 Business Strategy
8.12 Khoros LLC
8.12.1 Business Overview
8.12.2 Business Strategy
8.13 Cision Ltd. (Brandwatch Company)
8.13.1 Business Overview
8.13.2 Business Strategy
8.14 QualtricsXM (Clarabridge)
8.14.1 Business Overview
8.14.2 Business Strategy
8.15 Sprout Social
8.15.1 Business Overview
8.15.2 Business Strategy

List of Charts
  • Benefits of Social Media Analytics
  • Social Media Analytics Segmentation
  • Global Social Media Analytics Market by Value; 2017-2021 (US$ Billion)
  • Global Social Media Analytics Market by Value; 2022-2027 (US$ Billion)
  • Global Social Media Analytics Market by Deployment Type; 2021 (Percentage,%)
  • Global Social Media Analytics Market by Component; 2021 (Percentage,%)
  • Global Social Media Analytics Market by Region; 2021 (Percentage,%)
  • Global On-Premises Social Media Analytics Market by Value; 2017-2021 (US$ Billion)
  • Global On-Premises Social Media Analytics Market by Value; 2022-2027 (US$ Billion)
  • Global Cloud Social Media Analytics Market by Value; 2017-2021 (US$ Billion)
  • Global Cloud Social Media Analytics Market by Value; 2022-2027 (US$ Billion)
  • Global Services Social Media Analytics Market by Value; 2017-2021 (US$ Billion)
  • Global Services Social Media Analytics Market by Value; 2022-2027 (US$ Billion)
  • Global Software Social Media Analytics Market by Value; 2017-2021 (US$ Billion)
  • Global Software Social Media Analytics Market by Value; 2022-2027 (US$ Billion)
  • North America Social Media Analytics Market by Value; 2017-2021 (US$ Billion)
  • North America Social Media Analytics Market by Value; 2022-2027 (US$ Billion)
  • North America Social Media Analytics Market by Region; 2021 (Percentage,%)
  • The US Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • The US Social Media Analytics Market by Value; 2022-2027 (US$ Billion)
  • Canada Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • Canada Social Media Analytics Market by Value; 2022-2027 (US$ Million)
  • Mexico Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • Mexico Social Media Analytics Market by Value; 2022-2027 (US$ Million)
  • Asia Pacific Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • Asia Pacific Social Media Analytics Market by Value; 2022-2027 (US$ Billion)
  • Asia Pacific Social Media Analytics Market by Region; 2021 (Percentage, %)
  • China Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • China Social Media Analytics Market by Value; 2022-2027 (US$ Million)
  • India Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • India Social Media Analytics Market by Value; 2022-2027 (US$ Million)
  • Japan Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • Japan Social Media Analytics Market by Value; 2022-2027 (US$ Million)
  • Rest of Asia Pacific Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • Rest of Asia Pacific Social Media Analytics Market by Value; 2022-2027 (US$ Million)
  • Europe Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • Europe Social Media Analytics Market by Value; 2022-2027 (US$ Billion)
  • Europe Social Media Analytics Market by Region; 2021 (Percentage,%)
  • UK Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • UK Social Media Analytics Market by Value; 2022-2027 (US$ Billion)
  • Germany Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • Germany Social Media Analytics Market by Value; 2022-2027 (US$ Million)
  • Spain Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • Spain Social Media Analytics Market by Value; 2022-2027 (US$ Million)
  • Rest of Europe Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • Rest of Europe Social Media Analytics Market by Value; 2022-2027 (US$ Million)
  • Latin America Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • Latin America Social Media Analytics Market by Value; 2022-2027 (US$ Million)
  • Middle East and Africa Social Media Analytics Market by Value; 2017-2021 (US$ Million)
  • Middle East and Africa Social Media Analytics Market by Value; 2022-2027 (US$ Million)
  • Social Media Companies’ Response Towards the Pandemic
  • Factors Influencing Social Media Analytics Market Due to COVID-19
  • Global Internet Users and Penetration; 2016-2021 (Billion & Percentage, %)
  • Global Social Media Users; Jan 2017-Jan 2022 (Million)
  • Global Data Creation; 2020, 2021& 2025 (Zettabyte)
  • Global Number of Smartphone Subscriptions; 2017-2027 (Billion)
  • Global and the US Digital Advertisement Spending; 2021-2025 (US$ Billion)
  • The US Cybercrime Complaints Received and Cybercrimes Losses Reported; 2016-2020 (Thousand and US$ Billion)
  • Global 5G Smartphone Subscriptions; 2020-2027 (Billion)
  • Global Cloud Computing Market by Software Type; 2018-2024 (US$ Billion)
  • Global Artificial Intelligence (AI) Market Revenue; 2020-2024 (US$ Billion)
  • Global Big data and Business Analytics Revenue; 2018-2022 (US$ Billion)
  • Global Number of Internet of Things (IoT) Devices Connections; 2019-2024 (Billion)
  • Global Social Media Analytics Players by Market Share; 2021 (Percentage, %)
  • Global Social Media Analytics Market Players by the Markets Comparison
  • Salesforce.com, Inc. Revenue by Regions; 2022 (Percentage,%)
  • IBM Revenue by Segment; 2021 (Percentage, %)
  • Oracle Corporation Revenues by Business; 2022 (Percentage, %)
  • Adobe Inc. Revenue by Segments; 2021 (Percentage, %)
  • Alphabet Inc. (Google) Revenues by Operating Segments; 2021 (Percentage, %)
List of Tables
  • Global Social Media Analytics Market Players by Number of Companies using the Technology

Companies Mentioned

  • Adobe Inc.
  • Alphabet Inc(Google)
  • Cision Ltd(Brandwatch Company)
  • Digimind Company
  • GoodData Corporation
  • Hootsuite Inc.
  • IBM Corporation
  • Khoros LLC
  • NetBase Quid
  • Oracle Corporation
  • QualtricsXM (Clarabridge)
  • Salesforce.com, Inc.
  • SAS Institute
  • Sprout Social
  • Talkwalker Inc.