Press release
Rise In Social Media Entertainment Fueling The Growth Of The Market Due To Increased Internet Accessibility And User Engagement: A Key Catalyst Accelerating Global Social Business Intelligence Market Growth in 2025
Social Business Intelligence Market
What Will the Social Business Intelligence Industry Market Size Be by 2025?
The market size of social business intelligence has seen a swift surge in recent years. It is projected to escalate from $26.54 billion in 2024 to $29.71 billion in 2025, marking a compound annual growth rate (CAGR) of 12.0%. Influences contributing to the historic growth incorporate an upward shift in the incorporation of social data into enterprise systems, a growing trend towards personalized customer interaction, an increase in the volume of user-generated content, a heightened reliance on sentiment analysis tools, as well as a bourgeoning demand for competitive benchmarking via social insights.
What's the Long-Term Growth Forecast for the Social Business Intelligence Market Size Through 2029?
In the forthcoming years, the social business intelligence market is predicted to experience a swift expansion, reaching a value of $47.56 billion in 2029, with a compound annual growth rate (CAGR) of 12.5%. This surge over the forecast period can be linked to the rising incorporation of AI and machine learning within analytics, heightened emphasis on enhancing customer experience, increased utilization of mobile-based business intelligence instruments, greater usage of big data from social channels, and a heightened demand for predictive social analytics. Key trends throughout this period are expected to include progress in natural language processing for social insights, sophisticated data visualization methods for social metrics, the evolution of industry-specific social intelligence platforms, advancements in real-time social media monitoring tools, and the progression in amalgamation of social BI with CRM systems.
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What Are the Key Growth Drivers Fueling the Social Business Intelligence Market Expansion?
The increase in the use of social media for entertainment purposes is thought to fuel the expansion of the social business intelligence market in the future. Social media is a term that refers to digital platforms that permit users to produce, disseminate and interact with content in real-time. The surge in this usage for entertainment is attributed to the widespread accessibility of brief video content that satisfies shorter attention durations and provides rapid, engaging occurrences that users can readily ingest in their leisure time. Social business intelligence assists in the analysis of trends, user predilections and interaction patterns derived from growing social media entertainment usage, which aids in the development of targeted marketing and content strategies. For example, the University of Maine, a public research institution in the US, reported that there was an addition of 150 million new social media users from April 2022 to April 2023, translating to a 3.2% annual increase. This number is approximately equivalent to 410,000 new users every day, and 4.7 every second. Furthermore, users on average utilized 6.6 social media networks per month, dedicating an average of 2 hours and 24 minutes to social media each day. Consequently, the escalating usage of social media for entertainment is encouraging the development of the social business intelligence market.
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What Are the Key Trends Driving Social Business Intelligence Market Growth?
Leading firms in the social business intelligence market are prioritizing the advancement of sophisticated technologies like AI-driven analytics and machine learning algorithms. These initiatives aim to offer highly precise, real-time insights that augment decision-making mechanisms. AI-driven analytics employ artificial intelligence to scrutinize copious data, identifying patterns and trends that guide business resolutions. Machine learning algorithms, a particular aspect of AI, empower systems to expand their knowledge from the data, thereby improving their precision and effectiveness of predictions and insights over time. For instance, YouScan, a social media intelligence specialist based in Ukraine, introduced Insights Copilot in April 2023, a tool powered by ChatGPT and run by AI. It facilitates users to glean actionable intelligence from social media data using a dialogue interface, thus aiding brands and marketers in effective customer sentiment, trend, and brand perception analysis. As a part of YouScan's dashboard, Insights Copilot largely minimizes manual analysis time and boosts decision-making across marketing and customer experience divisions.
How Is the Social Business Intelligence Market Segmented?
The social business intelligencemarket covered in this report is segmented -
1) By Component: Solutions, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Data Source: Social Media Platforms, Website And Online Communities, Professional Platforms, Multimedia Platforms
5) By Vertical: Retail, Manufacturing, Government And Public Services, Media And Entertainment, Transportation And Logistics, Banking Finance Services And Insurances (BFSI), Telecom And Information Technology (IT), Healthcare And Life Sciences, Tourism And Hospitality, Other Verticals
Subsegments:
1) By Solution: Dashboard And Data Visualization, Reporting And Querying Tools, Social Media Analytics, Data Mining And Warehousing, Text Analytics
2) By Services: Professional Services, Consulting Services, Support And Maintenance, Deployment And Integration, Training And Education
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Which Companies Are Leading the Charge in Social Business Intelligence Market Innovation?
Major companies operating in the social business intelligence market are Google LLC, Microsoft Corporation, International Business Machines Corporation (IBM), Oracle Corporation, SAP SE, Salesforce Inc., Zoho Corporation Pvt. Ltd., Ipsos S.A., Qualtrics International Inc., Brandwatch, Alteryx Inc., QlikTech International AB (Qlik), Hootsuite Inc., Domo Inc., Sprout Social Inc., Sisense Inc., Acquia Inc., Emplifi Inc., Quid Inc., GoodData Corporation
Which Regions Are Leading the Global Social Business Intelligence Market in Revenue?
North America was the largest region in the social business intelligence market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the social business intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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