Social Media Analytics Market to grow at a CAGR of 23.29% from 2022 to 2027, increasing demand for online security to be a key market trend – Technavio

NEW YORK, March 13, 2023 /PRNewswire/ — The global social media analytics market size is estimated to grow by USD 7,260.33 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 23.29% during the forecast period. The rising demand for online security is considered to be a key trend in the market. Online security is a concern for both users and major corporations because social media sites store personal information that could be exploited. For instance, Ashley Madison, a discrete dating website, was hacked by a hacker group called The Impact Team that condemned the morals of the company and demanded the shutdown of the site in 2015. The company did not comply, and the hackers released the private information of more than 30 million users. Established social networking platforms, such as Facebook and Twitter provide tools to improve data security. For more insights on the historic market data (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report

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North America is estimated to contribute 40% to the growth of the global market during the forecast period. The market growth can be attributed to factors such as the growing awareness among enterprises about social media analytics (SMA) as an important platform for businesses to communicate with their customers. The vendors in the region offer advanced SMA solutions to enterprises. Vendors in the North American region raise funds to enhance SMA capabilities with the addition of new features. The vendors in the region form strategic alliances to enhance their product offerings and increase their geographic presence. 

Vendor Offerings

• Agorapulse SAS – The company offers social media analytics such as social media reports, sentiment analysis, third-party cookies, and engagement analysis.
• Adobe Inc. – The company offers social media analytics such as adobe campaigns, adobe audience manager, adobe experience manager, and customer acquisition.
• Digimind – The company offers social media analytics such as Cision social media listening and monitoring and analyses.
• For more vendors and their offerings, Request a Sample Report!

Social Media Analytics Market – Segmentation Assessment

Segment Overview

Technavio has segmented the market based on application (sales and marketing management, customer experience management, competitive intelligence, risk management, and public safety and law enforcement), end-user (retail, government, media and entertainment, travel, and others), deployment (on-premise and cloud), and geography (North America, APAC, Europe, South America, and Middle East and Africa). 

• The market share growth of the sales and marketing management segment will be significant during the forecast period. Social media analytics tools provide meaningful insights into the marketing techniques adopted by end users, which can be used by organizations to optimize their marketing techniques. The ways brands advertise, market, and promote their products have changed since the pandemic. This has forced various businesses and brands to re-evaluate their current and future marketing campaigns. Businesses re-structure their advertising, marketing, and promotional activities to generate sustained consumer interest and spending while maintaining sufficient returns. Such factors are expected to drive the growth of the segment during the forecast period.

Geography Overview

By geography, the global social media analytics market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global social media analytics market.

Insights on the market contribution of various segments including country and region wise, historic market data (2017 to 2021), and forecast market size (2023 to 2027) – Download a Sample Report

Social Media Analytics Market – Market Dynamics

Key factor driving market growth

• The growing use of social media analytics to improve brand loyalty is driving market growth significantly. 
• Brands and customers communicate with each other through social media analytical tools, which boost customer interaction and help in understanding consumer behavior. 
• According to an estimate, 32% of global customers take product information, reviews, and suggestions through social media platforms before a purchase. 
• A strategic open social media platform helps organizations increase their customer base and promote customer loyalty to their brand.
• Hence, the increasing focus on engaging existing customers and attracting new ones will drive the demand for social media analytics during the forecast period.

Major challenges hindering the market growth

• The tedious task of deciphering unstructured data is a challenge that may impede market growth.
• There is an explosion of companies trying to mine value from the overwhelming amount of data present on these social media sites in the form of posts, emails, images, product reviews, and others.
• Organizations in several industries are researching and investing in tools, like social media analytics, to derive actionable insights from vast unstructured data and drive strategic business decisions. 
• Unstructured data cannot be analyzed by conventional technologies because of its variability and unidentifiable internal structure.
• This makes deriving meaningful insights from data a tedious and time-consuming task. This can hinder the growth of the market in focus.

Insights on market drivers, trends, & challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Social Media Analytics Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the social media analytics market between 2023 and 2027
• Precise estimation of the size of the social media analytics market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the social media analytics market across North America, APAC, Europe, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of social media analytics market vendors.

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by End-user

8 Market Segmentation by Deployment

9 Customer Landscape

10 Geographic Landscape

11 Drivers, Challenges, and Trends

12 Vendor Landscape

13 Vendor Analysis

14 Appendix

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SOURCE Technavio