In a recent published report, Kennet Global Social Media Analytics Market report for till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Social Media Analytics Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Social Media Analytics is one of the biggest tools that companies use across the globe for various applications such as Customer Segmentation and Customer Targeting, analysing the customer behaviour, multinational campaign management, and other similar activities. The Global Social Media Analytics Market is being adopted by both large scale industries and SMEs for brand building and brand strategy planning. The major factor that drives this market is the increasing number of social media users worldwide. Presently, there are approximately 3.4 Billion internet users around the world, out of which 2.3 Billion are socially active, and this number is expected to annually grow at a rate of 10%. The increasing numbers are due to the high penetration of internet in today’s world in our lives. The social media analytics companies have access to large customer data, which help them analyse and predict the customer behaviour during the forecast period.Thus, Social Media Analytics is being adopted by companies to increase their revenue by understanding the current trends.
The end users of the Global Social Media Analytics Market mainly include the BFSI, Government and Healthcare Sector, Transportation Departments, IT and Telecom Industry, Retail, Energy and Utilities and other such sectors.
The overall market for the Global Social Media Analytics is currently valued at $1,269 Million, and it is expected to be worth $9,383 Million by 2022. The CAGR for the industry is found to be around 29.2%. The major factors that contribute to the growth of the Social Media Analytics Industry are – Advancement from Business Intelligence Techniques to Analytics Techniques, increase in the number of social media users, increase in the investment in analytics, more focus on the competitive intelligence and the growing cloud adoption. However, lack of skilled expertise and high implementation efforts are hindering the growth of the industry. The analysis and customisation of data is a time-consuming complex process. Also, small companies and start-ups are implementing cloud more readily than the large companies, which are hesitating to switch to the cloud due to security concerns. But due to the flexibility and cost-effectiveness of the Social Media Analytics systems, the market is still growing at a rapid rate. And the increase in the cloud adoption by companies can be seen as a major opportunity for the growth of the analytics market.
The Global Social Media Analytics Market is segmented into the following categories:
1. Operation: Social Media Analytics, Social Media Monitoring, and Analytic Insights
2. Application:Marketing Management, Customer Segmentation, Customer Targeting, Competitor Benchmarking, Competitor Behavioral Analysis, Multi-Channel Campaign Management
3. Mode of Deployment: On-Premise and Off-Premise Model
4. End-User Industry: IT and Telecom, Logistics, Transportation, Retail, BFSI, Government Services, Entertainment, Media, Hospitality,and Utilities
5. Region: North America, Latin America, Europe, Asia-Pacific, Africa and The Middle East
North America is currently dominating the Global Social Media Analytics Market, followed by Europe. The reason for this is the widespread use of internet across these regions which allow better connectivity and access to consumer data. Also, the presence of globally renowned companies in these regions makes the market grow in these regions at a faster rate. However, the increase in the number of smartphone users in the Asia-Pacific region is making it the fastest growing market in this sector.
The major players in this field areMblast, Clarabridge Inc., Gooddata,IBM, SAS, Crimson Hexagon Inc., Oracle Corporation, Salesforce, Simply Measured, Germin8, Simplify 360, Adobe Systems Incorporated, Netbase Solutions Inc., andSAP SE.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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