Social Media Analytics Market by Offering, Type, Application, Business Function, Industry

Description

List of Tables

[180 Pages Report] The Social Media Analytics Market size was estimated at USD 7.56 billion in 2023 and expected to reach USD 9.16 billion in 2024, at a CAGR 21.60% to reach USD 29.74 billion by 2030.

The social media analytics market consists of services and solutions that offer insights into consumer behavior, preferences, and trends by evaluating activities across various social media platforms. This market encompasses a range of tools and technologies designed to collect, monitor, analyze, and interpret large volumes of unstructured data generated from social media interactions. Applications of social media analytics span various industries, such as marketing, sales, customer service, and public relations. Key end-users include businesses, government agencies, and organizations keen on understanding social sentiment, improving customer engagement, and developing targeted marketing strategies. The social media analytics market is expanding owing to the increasing number of social media users worldwide, the rising focus on customer engagement through social media, and exponential expenditure on analytics with a focus on competitive intelligence. However, the adoption of social media analytics is hindered by concerns regarding data privacy, quality, and accuracy, lack of skilled professionals, lack of consistency in metrics across networks, and difficulties in aggregating data across social properties. On the other hand, the rising adoption of sentiment analysis for social media analytics, integration of social media analytics with CRM and ERP business systems, and increasing need for real-time analytics for immediate decision-making and crisis management presents growth prospects for the social media analytics market in the coming years.

KEY MARKET STATISTICS
Base Year [2023]	USD 7.56 billion
Estimated Year [2024]	USD 9.16 billion
Forecast Year [2030]	USD 29.74 billion
CAGR (%)	21.60%

Offering: Increasing preference for social media management software for analyzing engagement metrics

Social media analytics services are typically aimed at helping organizations leverage social media data to gain insights, make knowledgeable decisions, and effectively manage their social media presence. Managed services involve outsourcing the management of social media analytics to third-party agencies or specialized companies. This method allows businesses to concentrate on their core activities while experts handle the intricacies of social media data analysis. Managed services providers assist with end-to-end management, including monitoring, reporting, and deriving actionable insights tailored to the unique needs of their clients. Professional services in social media analytics encompass a range of specialized activities designed to amplify the capacity and effectiveness of an organization's social media strategies. Consultants offer expertise on the best practices for social media analytics and strategizing on data-driven decision-making processes. Deployment and integration services focus on setting up and incorporating social media analytics tools within an organization's existing systems. Support and maintenance service provides ongoing assistance and upkeep for social media analytics platforms. In addition to services, several types of software offerings are dedicated to helping businesses analyze and engage with their social media audiences. Social listening and monitoring tools provide capabilities for tracking mentions, conversations, and sentiment across various social media platforms. This software is instrumental in understanding audience behavior, emerging trends, and the impact of social media campaigns. Social media advertising software assists advertisers in creating, managing, and optimizing their social media ad campaigns. It includes features for targeting, ad placement, and performance analysis, offering a comprehensive solution for maximizing the return on investment from social media advertisements. Social media management software streamlines the management of multiple social media accounts. It offers functionalities such as scheduling posts, curating content, collaborating within teams, and analyzing engagement metrics, providing a centralized platform for social media oversight. Social media marketing software supports businesses in executing engaging marketing campaigns across social networks. This software offers tools for content creation, distribution, audience targeting, measuring the effectiveness of marketing initiatives, driving brand awareness, and customer acquisition through social channels.

Industry: Expanding application of social media analytics in media and entertainment industry to analyze viral marketing campaigns

The aerospace and defense industry often requires social media analytics to monitor brand reputation, assess security threats, and engage with stakeholders. For the automotive and transport industry, social media analytics helps in product feedback, launch campaigns, and consumer sentiment analysis. Social media analytics in the BFSI sector are critical for understanding customer needs, complaint resolution, and service personalization. The building, construction, and real estate industries use social media analytics for market sentiment, identifying investment opportunities, and customer engagement. Consumer goods companies rely heavily on social media analytics for trend spotting, product launches, and brand management. Educational institutions and ed-tech companies use analytics to monitor enrollment trends, educational content traction, and student engagement. Companies in the energy sector use social media analytics for public sentiment analysis, crisis communication, and sustainable initiative promotions. Social media analytics is crucial for government agencies to gauge public opinion, disseminate information, and manage e-governance services. Pharmaceutical companies use social media analytics for drug feedback, patient engagement, and health campaign tracking. IT firms combat misinformation, innovate customer support, and track technology adoption through social media analytics. Manufacturers use social media analytics for supply chain insights, product innovation, and competitor benchmarking. Media and entertainment companies use social media analytics for audience preferences, content performance, and viral marketing campaigns. Telecom operators leverage social media analytics for customer service, trend analysis, and network performance discussions. The travel and hospitality sector implements social media analytics for customer feedback, service improvement, and personalization of offers. The utilization of social media analytics differs significantly across industry segments. While the aerospace and defense sector focuses on security and brand reputation, consumer goods and retail are more concentrated on marketing and trend analysis. BFSI emphasizes customer service and personalization, whereas the energy and utilities sector utilizes analytics for environmental communication and sentiment analysis.

Regional Insights

In the United States, social media plays a pivotal role in customer engagement, with extensive use of analytics to tailor marketing strategies. The region is characterized by high investment in technological advancements and a notable desire for personalized customer experiences. Canada shows robust social media usage with a trend towards ethical use of data, reflecting a demand for transparent and responsible analytics practices while harnessing social media insights for customer behavior analysis. South America is experiencing moderate yet steady growth, fueled by the increasing internet penetration and the rising popularity of social networks among its population. Europe's market for social media analytics is expanding due to stringent data protection laws, including GDPR, which fuel the need for compliant analytics tools. There is an increased demand for advanced analytical solutions that can provide deep insights into consumer data while respecting privacy regulations. The region exhibits a growing trend of integrating social media analytics with CRM and marketing automation tools. Social media analytics in the Middle East is growing, with an increasing focus on mobile-first strategies due to high smartphone penetration. The adoption of social media analytics in Africa varies widely by region, but overall, there is an increasing trend of mobile usage for social and commercial engagement. APAC's social media analytics market is experiencing rapid growth, outpacing other regions, primarily driven by countries including China, India, and Japan. The proliferation of social media users and advancements in technology infrastructure are significant growth factors. China's social media landscape is unique due to its distinct platforms and regulatory environment. In Japan, social media analytics is advanced, focusing on customer service and reputation management. Japanese consumers value brand loyalty, driving businesses to invest in analytics that manage and improve customer relationships. India presents a rapidly growing social media market with a vast user base.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Social Media Analytics Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Social Media Analytics Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Social Media Analytics Market, highlighting leading vendors and their innovative profiles. These include Adobe Inc., Agorapulse SAS, Awario, Brand24 Global Inc., Buffer, Inc., Cision US, Inc., Datapine by RIB Software GmbH, Emplifi, Inc., GoodData Corporation, Hootsuite Inc., HubSpot, Inc., International Business Machines Corp., Intuit Inc., Keyhole, Khoros, LLC, Mavsocial, Meltwater, NetBase Solutions, Inc., Oktopost Technologies, Inc., Onclusive, Inc., Prudence Analytics And Software Solutions Pvt. Ltd., Qualtrics, LLC, Salesforce, Inc., SAS Institute Inc., Semrush Inc., Sendible Ltd., SocialPilot Technologies Inc., Sotrender, Sprout Social, Inc., and Talkwalker Inc..

Market Segmentation & Coverage

This research report categorizes the Social Media Analytics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Offering
- Services
  - Managed Services
  - Professional Services
    - Consulting Services
    - Deployment & Integration
    - Support & Maintenance
- Software
  - Social Listening & Monitoring
  - Social Media Advertising Software
  - Social Media Management Software
  - Social Media Marketing
Type
- Descriptive Analytics
- Diagnostics Analytics
- Predictive Analytics
- Prescriptive Analytics

Application
- Competitor Benchmarking
- Customer Behavioural Analysis
- Customer Segmentation & Targeting
- Marketing Management
- Multichannel Campaign Management

Business Function
- Customer Service
- Finance
- Human Resources
- Marketing
- Operation
- Sales & Lead Generation

Industry
- Aerospace & Defense
- Automotive & Transportation
- Banking, Financial Services & Insurance
- Building, Construction & Real Estate
- Consumer Goods & Retail
- Education
- Energy & Utilities
- Government & Public Sector
- Healthcare & Life Sciences
- Information Technology
- Manufacturing
- Media & Entertainment
- Telecommunication
- Travel & Hospitality

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Social Media Analytics Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Social Media Analytics Market?

3. What are the technology trends and regulatory frameworks in the Social Media Analytics Market?

4. What is the market share of the leading vendors in the Social Media Analytics Market?

5. Which modes and strategic moves are suitable for entering the Social Media Analytics Market?

Product Code: MRR-437896AA36CF

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing number of social media users worldwide
  - 5.1.1.2. Growing focus on customer engagement through social media
  - 5.1.1.3. Exponential expenditure on analytics with a focus on competitive intelligence
- 5.1.2. Restraints
  - 5.1.2.1. Lack of consistency in metrics across networks and difficulties in aggregating data across social properties
- 5.1.3. Opportunities
  - 5.1.3.1. Rising adoption of sentiment analysis for social media analytics
  - 5.1.3.2. Integration of social media analytics with CRM, ERP business systems
- 5.1.4. Challenges
  - 5.1.4.1. Concerns regarding data privacy, quality, and accuracy
5.2. Market Segmentation Analysis
- 5.2.1. Offering: Increasing preference for social media management software for analyzing engagement metrics
- 5.2.2. Industry: Expanding application of social media analytics in media and entertainment industry to analyze viral marketing campaigns
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Social Media Analytics Market, by Offering

6.1. Introduction
6.2. Services
6.3. Software

7. Social Media Analytics Market, by Type

7.1. Introduction
7.2. Descriptive Analytics
7.3. Diagnostics Analytics
7.4. Predictive Analytics
7.5. Prescriptive Analytics

8. Social Media Analytics Market, by Application

8.1. Introduction
8.2. Competitor Benchmarking
8.3. Customer Behavioural Analysis
8.4. Customer Segmentation & Targeting
8.5. Marketing Management
8.6. Multichannel Campaign Management

9. Social Media Analytics Market, by Business Function

9.1. Introduction
9.2. Customer Service
9.3. Finance
9.4. Human Resources
9.5. Marketing
9.6. Operation
9.7. Sales & Lead Generation

10. Social Media Analytics Market, by Industry

10.1. Introduction
10.2. Aerospace & Defense
10.3. Automotive & Transportation
10.4. Banking, Financial Services & Insurance
10.5. Building, Construction & Real Estate
10.6. Consumer Goods & Retail
10.7. Education
10.8. Energy & Utilities
10.9. Government & Public Sector
10.10. Healthcare & Life Sciences
10.11. Information Technology
10.12. Manufacturing
10.13. Media & Entertainment
10.14. Telecommunication
10.15. Travel & Hospitality

11. Americas Social Media Analytics Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Social Media Analytics Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Social Media Analytics Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Infobip launches Click-to-chat ad analytics for social media ad conversions
- 14.3.2. Sprout Social Acquires Tagger Media to cement its position at the forefront of the social software industry.
- 14.3.3. Slovakian social media analytics start-up CulturePulse AI raises 'just shy of $1 million' to pivot to AI SaaS model
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio