Social Media Analytics Market - Evolution of Digital Technologies and Competitive Intelligence to Spur Market in Near Future, Demand by Segmentation and Forecast 2018-2025.

Social media analytics are analytics tools mainly applied for making business decisions. These analytics gathers data from social media websites and analyzing that data. The most common use of social media analytics is to mine customer sentiment to support marketing and customer service activities. These analytics helps us in forming, understanding and lastly leveraging communities for societal activities and business offerings. Social media analytics are now widely used and are considered as major part for business and as a marketing tool. Globally, all the major business is using social analytics in order to improve their products and services and also for gaining actionable insights on consumer’s perception and preferences. The utilization of social media analytics allows users to mine and decipher vast amount of data from various social media platforms, such as Facebook, Twitter, and Instagram, among others.

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Social Media Analytics market is increasing gradually due to growing usage of text analysis for refining customer experience and development of image analysis solutions. Moreover, increased varied features and functions available on analytics platform which makes customer demand for customized dashboards and other features within the licensed price.

The major driving factors for social media analytics are tremendously growing social media users and Increased focus on the market and competitive intelligence. With the evolution of digital technologies, people have started using social media mainly for online shopping, communication, and for other social connectivity activities. These have encouraged enterprises to adopt social media analytics solutions in order to understand the needs and demand of users and profitability of their product. O? the 7.3 billion global population worldwide, social networking has 2.3 billion active users which has seen a rise of 176 million from 2016.

The key challenges are Lack of standard measures for social media analytics. Other challenges are lack of supportive technologies due to which legacy architecture cannot implement social media analytics and lack of expert IT personnel for social media analytics.

The Global Social Media Analytics Market is segmented on the basis of End-Users, by end-users and by region. On the basis of End-Users, the global social media analytics market is segmented as Customer Segmentation & Targeting, Competitor Benchmarking, Multichannel Campaign Management, Customer Behavioral Analysis and Marketing Management. On the basis of End-Users, the market is segmented as Media & Entertainment, Travel & Hospitality, IT & Telecom, Retail and Others (BFSI, Healthcare).

Based on regions, the global social media analytics market is divided into North America, Europe, Asia-Pacific (APAC), and Rest of the World (ROW). among these, North America, has been leading the global social media analytics Market. Several factors, such as the presence of a large pool of players and increasing partnership between them are influential behind the important growth of this regional market.

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The major companies that provide Social Media Analytics are Oracle Corporation, Adobe Systems, Inc., IBM Corporation, SAP SE, Netbase Solutions, Inc., Hootsuite Media, Inc., Tableau Software, Crimson Hexagon, SAS Institute, and Salesforce.com Inc.

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