Social Media Analytics Market by Type, Applications (Customer Segmentation & Targeting, Multichannel Campaign Management, Competitor Benchmarking, Customer Behavioral Analysis, & Marketing Measurement), Vertical, Region - Global Forecast to 2020
“Massive surge in structured and unstructured social data is driving the growth”
MarketsandMarkets estimates the global social media analytics market to grow from USD 1.60 billion in 2015 to USD 5.40 billion by 2020, at a Compound Annual Growth Rate of 27.6%. The social media analytics market is growing rapidly because of the transition from traditional Business Intelligence (BI) techniques to advanced analytics techniques and the massive surge in the number of social media users.
“North America is expected to hold the largest market share”
The North American region is expected to continue being the largest revenue generating region for social media analytics vendors for the next five years, followed by Europe. This is mainly because of the presence of various developed economies such as Canada and the U.S. and because of the high focus on innovations through research and development and technology. The high penetration of social media analytics in multiple verticals such as manufacturing, healthcare, transportation, and logistics is driving the growth of this market in the region.
The study validates the market size of segments and subsegments through secondary research and in-depth primary interviews. Various industry leaders in Tier 1, Tier 2, and Tier 3 companies were contacted for primary interviews. The in-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the social media analytics marketplace.
By Company type – Tier 1- 30%, Tier 2- 40%, Tier 3- 30%
By Designation – C-Level – 72%, Director Level- 14%. Others- 14%
By Region – North America- 57%, Europe-14%, Asia-Pacific- 29%
The report includes the study of key players offering social media analytics solutions and services: Oracle Corporation (U.S.), SAS Institute (U.S.), IBM Corporation (U.S.), SAP SE (Germany), Tableau Software (U.S.), GoodData (U.S.), NetBase Solutions (U.S.), Salesforce.com (U.S.), Adobe Systems (U.S.), and Hootsuite Media (U.S.). Furthermore, the report also includes in-depth competitive analysis of the key players in the social media analytics market, with their company profiles, SWOT analysis, recent developments, and key market strategies.
The report will help the market leaders or new entrants in this market in the following ways:
1. This report segments the market into various subsegments, covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers are further split across different end users and regions.
2. This report will help in the better understanding of the competitors and gain more insights to better one’s position in the market. There is a separate section on competitive landscape, which includes competitor ecosystem, mergers and acquisitions, integrations and expansions, and collaborations of various market vendors. Besides, there are company profiles of ten players in this market. In this section, market internals are provided that can put one ahead of the competitors.
3. The report also helps in understanding the overall growth of the market. It provides information on key market drivers, restraints, challenges, and opportunities.