Social media analytics market size is expected to reach $9,383 million by 2022 | key players - Oracle Corporation, Adobe Systems, Inc., IBM Corporation, SAP SE, Netbase Solutions, Inc., Hootsuite Media, Inc., Tableau Software, Crimson Hexagon

The increase in number of social media users, rise in investing on analytics and high focus on market intelligence are the key factors boosting the growth of social media analytics market. Whereas, analyses of unstructured data and restrictions imposed by websites on data collection are some challenges faced by social media analytics market.

The market in North America is more productive as compared to others with diverse end-users implementing social media analytics at a greater extent. Furthermore, it is projected to generate the highest market revenue during the forecast period with predominant deployments in the retail sector.

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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.

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.

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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.

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, another end user segment is anticipated to grow at a CAGR of 30.1% during the forecast period (2016-2022).

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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.

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