Social Media Analytics Market Research Report Is Expected To Reach Approx. USD 7 Billion By 2023

Social Media Analytics Market Research Report

Social Media analytics market is estimated to exhibit high growth potential during the forecast period owing to increasing popularity of data analytics and rapid growth in the use of smartphones and digital platforms. Major driving factor in the growth of social media analytics market is the increasing user base on social media platform. Increasing adoption of cloud services and solutions is another reason responsible for driving the growth of social media analytics market.

Social media analytics market has been segmented on the basis of type, deployment, organization size, application and vertical. The type segment is classified into solution and service segments. The service segment is further bifurcated into support and maintenance, consulting service, training and education. Social media analytics has become a necessity in order to improve operational performance and decision outcomes.

The organization size is classified into large enterprises and small and medium enterprises. Out of these, the small and medium enterprises is expected to grow at the highest CAGR owing to the rapid adoption of social media analytics services in small and medium enterprises. This is owing to the increasing adoption of cloud based solutions and services.

The major restraining factor in the growth of social media analytics market is the lack of skilled expertise. Complex analytical workflow is another restraining factor in the growth of social media analytics market. Complexities in workflow can be time consuming and can be a major factor causing hindrance in the growth of social media analytics market.

According to Market Research Future Analysis, social media analytics market has been valued at approx. USD 7 Billion by the end of forecast period with 28% of CAGR during forecast period 2017 to 2023

Social Media Analytics Market Segmentation

The social media analytics market has been segmented on the basis of type, deployment, organization size, application and vertical. The application segment is further bifurcated into customer segmentation & targeting, multichannel campaign management, competitor bench marking, customer behavioral analysis, marketing measurement and others. Out of these, the customer behavioral segment is expected to hold the largest market share for the social media analytics market during the forecast period. This is owing to the growing need for customer satisfaction by analyzing their needs.

The prominent players in the social media analytics market are — SAS Institute (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Adobe Systems (U.S.), SAP SE (Germany), Salesforce.com (U.S), GoodData (U.S), HootSuite Media (U.S), Tableau Software (U.S), NetBase Solutions (U.S), among others.

Market Research Analysis:

The global social media analytics as a service market, by geography, has been segmented into North America, Europe, Asia Pacific and Others. In the global social media analytics market, Asia Pacific is anticipated to witness relatively faster adoption and hence is expected to grow at the highest CAGR during the forecast period. Within Asia Pacific, social media analytics market is projected to contribute faster to the growth of revenue backed by increasing number of users on social media platform in countries such as Japan, China and India.

Across Europe, countries including Germany, France and the U.K. are anticipated to drive the growth of social media analytics market. In Europe, the presence of advanced infrastructure and with the increasing adoption of technology and technological advancements in numerous countries is driving the market growth of social media analytics market. Early adoption of emerging and advanced technologies and increased business needs are other major factors driving the growth of social media analytics market.

More Information@ https://www.marketresearchfuture.com/reports/social-media-analytics-market-3259

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