Social Media Analytics Market worth $14.6 billion by 2028
According to a research report "Social Media Analytics Market by Software (Social Media Marketing, Social Listening, Social Media Intelligence), Analytics Type (Predictive, Prescriptive), Business Function (Marketing (Trend Analysis, Forecasting), Sales) - Global Forecast to 2028" published by MarketsandMarkets, the global market for Social Media Analytics is projected to grow from USD 4.8 billion in 2023 to USD 14.6 billion by 2028, at a CAGR of 24.9% during the forecast period. The social media analytics market is expanding due to the increasing usage of social media, higher smartphone penetration, and other developments in digital technology. The market growth is further boosted by the impact of technologies such as natural language processing, artificial intelligence, machine learning, and augmented reality. Social media analytics enables businesses to maximize the impact of their social media marketing efforts. Future trends that will shape the landscape of social media analytics include artificial intelligence and machine learning.
Browse 319 market data Tables and 63 Figures spread through 341 Pages and in-depth TOC on "Social Media Analytics Market by Software (Social Media Marketing, Social Listening, Social Media Intelligence), Analytics Type (Predictive, Prescriptive), Business Function (Marketing (Trend Analysis, Forecasting), Sales) - Global Forecast to 2028"
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Solution segment to account for the largest market size during the forecast period.
The solution is predicted to hold the largest market size during the forecast period based on the offering segment. Businesses require innovative tools in today's dynamic digital environment to meet the challenges posed by online interactions. These solutions support businesses in extracting. important insights track patterns and assess their influence online. These services which range from audience segmentation to sentiment analysis help companies improve customer engagement make well-informed decisions and hone their marketing approaches. The dynamic nature of this market is being driven by providers continuous development of advanced solutions in response to the increasing demand for comprehensive analytics.
Managed service to account for higher CAGR during the forecast period.
Managed services are predicted to have the highest CAGR over the course of the forecast period based on the services. A significant role for managed service providers is being played in the social media analytics space. To maximize their social media presence and extract insightful information from their social media data, they provide a broad range of services to businesses. In order to monitor user traffic spot patterns and trends in social media data and gauge customer satisfaction specialized social media analytics tools are employed. Managed service providers provide data management and consolidation services to ensure that all pertinent data is readily available for analysis and service integration. These services help maintain a successful and consistent social media presence. systems for managing conversations with clients.
Asia Pacific to exhibit the highest CAGR during the forecast period.
The CAGR of Asia Pacific is estimated to be highest during the forecast period. The market for Social Media Analytics in the Asia Pacific region is expected to experience significant growth, mainly due to population growth and government policies. This growth is being fueled by the increasing significance of social media platforms for businesses, a growing demand for business intelligence, and the adoption of advanced technologies such as natural language processing, artificial intelligence, machine learning, and augmented reality. The expansion of digital technology and the increasing adoption of cloud-based solutions are further driving this growth.
Major vendors in the global Social Media Analytics market are IBM (US), Google (US), Oracle (US), Salesforce (US), Adobe (US), SAS (US), Qualtrics (US), Digimind (France), Talkwalker (Luxembourg), Hootsuite (Canada), GoodData (US), Meltwater (Norway), Khoros (US), Sprout Social (US), Cision (US), Dash Husdson (Canada), Brand24 (US), Sotrender (Poland), Rival IQ (US), Facelift (Germany), Emplifi (US), SocialPilot (US), Agorapulse (France), Keyhole (Denmark), Sendible (UK), Buffer (US), Hubspot (US), Databox (US), Tailwind (US), Semrush (US), Awario (US), Oktopost (Israel), Simplify360 (US), Frrole (India), Mavsocial (US), Heuritech (France), Mnemonic Ai (US), Konnect Insights (India), Lucidya (Saudi Arabia), and Catalytics Datum (India).
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