Good Growth Opportunities in Global Social Media Analytics Market Till 2027

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

Social Media Analysis is a process wherein data from various websites, and blogs is gathered and analyzed to take business related decisions. This process includes all the software and analyzing tools that are used to analyze the unstructured data found from various social media websites such as Facebook and Twitter.

Social Media Analytics help user in creating unlimited real time reports measuring the performance of company’s profile on social media websites. Moreover, it also helps in measuring team performance, allow user to share these customized reports with the team for improving their efficiency.

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Social Media Analytics Market: Drivers and Challenges

The major factor driving the adoption of Social Media Analytics market is the increasing usage of social media among people. With the growth of digital technologies, people have started using social media for communication, online shopping 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 salability of their product. Other driving factors are high growth of social media and analytics tools and increasing demand from small and medium enterprises.

The key challenge for Social Media Analytics market is huge amount of unstructured data available on websites which can’t be managed by one solution. Other challenges are lack of supporting technologies due to which legacy architecture cannot implement social media analytics and lack of expert IT personnel for social media analytics.

Social Media Analytics Market: Segmentation

Segmentation on the basis of Social Media Analytics applications:

Customer behavior analysis

Multi-channel campaign management

Digital marketing management

Performance measurement

Analyzed report generation

Other

Key Contracts & Acquisitions:

In August 2016, Sysomos has entered into the partnership with AEJMC to improve social analytics usage in academic research. This partnership will help AEJMC to improve their education related offerings and understand their market position with the help of social analytics.

In June 30, Microsoft has acquired LinkedIn to improve their social media analytics offering. This acquisition will help Microsoft to collaborate its cloud based offering with LinkedIn that will help in providing insights related to the usage of these software.

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In February 2016, Yelp has entered into the partnership with Sprinklr, a social media analytics provider to offer its clients ability to monitor their Yelp reviews and analyses the sentiments. This will also help in making Sprinklr, only social insight company to have access to Yelp review analysis.

In Social Media Analytics market there are many vendors some of them are Hootsuite, Google, Buffer, Brandwatch, Netbase, Cision, TrustRadius and others

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This release was published on openPR.