Press release
Soaring Social Media Analytics Market: Growth Prospects, Influential Trends, and Corporate Giants' Impact Forecasted for 2024-2029
Social Media Analytics Market
What Is The Projected Market Size Of The Global Social Media Analytics Market And Its Growth Rate?
With the booming universe of social media, the social media analytics market is gearing up for an exciting future.
•Market Size 2024: $13.83 billion
•Market Size 2025: $17.39 billion (Growth at 25.7% CAGR)
•Market Size 2029: $51.25 billion (Growth at 31.0% CAGR)
Businesses are progressively utilizing social media for their advertising exploits, while user engagement on these platforms continues to rise. The regulatory compliance and risk mitigation are also facilitating this growth.
What Is Driving The Growth In The Social Media Analytics Market?
The escalating number of global social media users forms the crux of the burgeoning social media analytics market. Increased accessibility to the internet on mobile phones, laptops, and computers has facilitated international communication. Social networking platforms have proved to be indispensable for professionals to create networks, recruit employees, and find people with unique skills. A Forbes report in May 2023 stated that the global social media user base had reached an impressive 4.9 billion, with an estimated rise to 5.85 billion by 2027. This surge in social media usage is projected to fuel the growth of the social media analytics market.
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Who Are the Key Players Driving Social Media Analytics Market Growth?
Top corporations leading 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., and many others.
What Are The Key Trends In The Social Media Analytics Market?
The predominant trends observed in the social media analytics market encompass:
•Cross-platform analytics
•E-commerce Integration
•Geospatial and Location-based analytics
•Emergence of niche social platforms
•Subscription-based analytics services
What Are The Segments Of The Global Social Media Analytics Market?
The social media analytics market is categorized based on:
1) Component: Software, Services
2) Deployment: On-Premise, Cloud
3) Organization Size: Small and Medium Enterprises, Large Enterprises
4) Application: Customer Segmentation and Targeting, Competitor Benchmarking, Multichannel Campaign Management, Customer Behavioral Analysis, Marketing Management
5) End-User Industry: Banking and Financial Services, IT and Telecommunications, Retail, Healthcare, Government Services, Media and Entertainment, Utilities, Transportation and Logistics, Other End Users
Which Region Leads The Social Media Analytics Market?
In 2024, North America was the largest region in the social media analytics market. However, Asia-Pacific is expected to witness rapid growth in the forecast period. The market report covers multiple regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Social Media Analytics Market Global Market Report?
- Market Size Analysis: Analyze the Social Media Analytics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Social Media Analytics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Social Media Analytics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Social Media Analytics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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