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Current Technological Advancements on Global Social Media Analytics Market Analysis & Technological Innovation by Leading Industry Experts by 2022.

02-13-2019 06:12 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Social Media Analytics

Social Media Analytics

Social media analytics is used to evaluate data traces, which enables insights for social and business uses. It also helps the business to execute any brand campaign. Many enterprises are yet to discover its true potential. With a huge chunk of social media content exploding every second, social media analytics may become one of the most important tools for companies to make strategies and implement short-term plans.

Increase in number of social media users, rise in expenditure on analytics, and growth in market strategies & competitive intelligence are expected to drive the growth of the global social media analytics market. In addition, factors such as increase in cloud adoption and high rate of deployment in SMEs are expected to provide lucrative opportunity for the market growth. However, lack of skilled expertise and complexities in analytical workflow hamper the growth of the social media analytics market.

In 2014, customer behavioral analysis segment accounted for the maximum revenue share in the overall applications of social media analytics market. This is due to the increase in rivalry paired with the need for effective brand promotion, which drives the requirement of customer behavioral analysis. In addition, marketing management segment is expected to witness the fastest growth at CAGR of 30.9% during the forecast period.

Download report sample at: https://www.alliedmarketresearch.com/request-sample/1929#utm_source=as_opr

The retail sector dominated the global social media analytics market in 2014 due to various advantages of social media analytics such as increase in brand awareness, better connection with audiences, creating hype around products, reduced gaps in the sales cycle. Furthermore, other end user segment is anticipated to grow at a CAGR of 30.1% during the forecast period (2016-2022).

Social Media Analytics Market Report, published by Allied Market Research, forecasts that the global market was valued at $1,269 million in 2014 and is projected to reach $9,383 million by 2022, growing at a CAGR of 29.2% from 2016 to 2022. The retail sector segment dominated the total end-user market in 2014.

For purchase enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/1929#utm_source=as_opr

Asia-Pacific is estimated to grow at the fastest rate due to increase in the adoption of social media analytics industry and extensive growth rate in China, Japan, Philippines, and India pertaining to the increase in number of social media users and flourishing retail sector.

The key players profiled in the report include 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.

Complexities in Analytical Workflow

Social media analytics companies face discrepancies in analytical workflow owing to high implementation efforts and requirement of significant technical expertise. Furthermore, data analysis and customization is highly complex and time-consuming. This is a major hindrance that impedes the growth of the overall market.

Access full summary report at: https://www.alliedmarketresearch.com/social-media-analytics-market#utm_source=as_opr

High Rate of Adoption in SMEs

Small businesses increasingly adopt social media analytics owing to the availability of specifically designed cheaper tools. In addition, the growth in awareness of analytics for competitive advantage and better efficiency has created a growth avenue for social media analytics in SMEs.

Increase in Cloud Adoption

A large number of organizations are already using cloud or planning to do so and this is expected to result in the exponential growth of the market. It has been observed that while startups or small companies quickly adopt cloud, large enterprises are more cautious to migrate to cloud. One of the biggest concerns that hinders the adoption of cloud for an enterprise is data security. Despite such concerns, the adoption of cloud is increasing at a fast pace due to the obvious benefits of flexibility and cost that it offers over the legacy systems. Increase in adoption of cloud is an opportunity for growth of the global social media analytics market.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Web: https://www.alliedmarketresearch.com

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