Social Media Analytics Market Size & Research Analysis by 2028

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Social Media Analytics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component [Solutions and Services (Professional Services and Managed Services)], Application (Customer Experience Management, Competitive Intelligence, Sales & Marketing Management, and Others), Deployment (Cloud and On-Premise), Organization Size (Large Enterprises and SMEs), and Vertical (BFSI, IT & Telecommunication, Media & Entertainment, Retail & e-Commerce, and Others)

Publication Month: Aug 2022 | Report Code: TIPTE100000194 | No. of Pages: 238 | Category: Technology, Media and Telecommunications | Status: Published

The social media analytics market is projected to reach US$ 26,295.33 million by 2028 from US$ 7,007.84 million in 2021. it is expected to grow at a CAGR of 21.5% during 2022–2028.

Business competitiveness has been rising at a tremendous pace globally, forcing businesses to search for innovative methods of gathering intelligence. The increasing competitiveness amongst businesses can be attributed to several factors that differ from country to country. Globalization, rising adoption of Industry 4.0, growing promotional activities, increasing brand awareness, and higher price sensitivity amongst consumers are a few major factors fueling the same. Thus, to gain a competitive edge, most enterprises have been exploring newer avenues for gaining intelligence on their competitors. Business intelligence (BI) uses different solutions and services to transform gathered data into actionable insights. Traditional BI was mostly restricted to identifying competitors and gathering as much information as possible but could not structure, analyze and provide meaningful insights from multivariate data pointers. Social media analytic solutions and services can provide varied BI information. It can aid in identifying competitors, understanding which and how they are utilizing social media platforms, understanding their strategy, compare own social results with competitors, and identifying gaps or threats in social strategy. Such advantages are promoting social media analytics market growth.

Additionally, social media analytics can aid performance benchmarking of ad campaigns, understanding appropriate posting time, revealing customers' pain points, and differentiating one’s brand from its competitors. Such benefits have led to a growing demand for gathering BI through social media analytics. For instance, Northern Light Group, LLC aided one of its clients to gain BI by developing and managing a knowledge management platform. Northern Light Business News and 5 other subscription-based market intelligence sources feed data to this platform. Similarly, NapoleonCat, developed by Napoleon Sp. z o.o. have been aiding collectible metal poster e-commerce site Displate (GWD CONCEPT Sp. z o.o.) to analyze their social media performance, connect to newer customers and gather BI on their competitors among others. All such factors collectively have been driving the social media analytics market growth.

Strategic Insights

Report Coverage - Social Media Analytics Market
Report CoverageDetails
Market Size Value inUS$ 7,007.84 Million in 2021
Market Size Value byUS$ 26,295.33 Million by 2028
Growth rateCAGR of 21.5% from 2022 to 2028
Forecast Period2022-2028
Base Year2021
No. of Pages238
No. of Tables169
No. of Charts & Figures103
Historical data availableYes
Segments coveredComponent, Application, Deployment, Organization Size, and Vertical
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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Impact of COVID-19 Pandemic on Social Media Analytics Market Growth 

During the COVID-19 outbreak, the continuous growth in COVID-19 patient pool size compelled government authorities to impose stringent travel bans across the US and other regions in the first three quarters of 2020, which led to significant disruptions of the normal functioning of various industries. Implementing containment measures such as trade bans, travel restrictions, and workplace workforce limitations impacted various businesses' manufacturing, supply, and sales. Hence, enterprises had to adapt to the changing environment to remain afloat and minimize losses. The pandemic also led to an increased usage of social media platforms and an exponential rise in the number of active social media users. Despite such a tumultuous business scenario, social media platforms continued to witness record growth of users. Hence, in Q3 of 2020, enterprises increasingly subscribed to social media analytics to attract more customers and retain old customers. Both large enterprises and SMEs increased their uptake of social media analytics to leverage the growth of social media users. This provided huge growth opportunities for the social media analytic market players globally.

Key social media analytics market players witnessed a sharp increase in demand post Q4 of 2020 since most industry verticals were increasingly turning to AI enabled analytic solutions and services for outlining sustainable ways to continue business operations amid the threat of the pandemic.. Hence, the pandemic positively impacted the social media analytics market growth.

Lucrative Regions for Social Media Analytics Market

Lucrative Regions for Social Media Analytics Market

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Market Insights – Social Media Analytics Market

Social media analytics can collect actionable or meaningful insights from social media platforms to support business growth. Social media intelligence, social competitive analysis, social media listening, image analytics, sentiment analysis, social media monitoring, and customer experience analytics are common tools or methods used by social media analytic solution and service providers to serve their customers better. By using social media analytics, businesses can build a community, gauge the valuation of their brands or products, better understand consumer needs, develop customized offerings, and gain better business leads. The rising importance of social media platforms can be expected to drive the social media analytics market during the forecast period. Businesses are rapidly embracing sophisticated business intelligence gathering technologies to support their business initiatives and to gain a competitive advantage. Social media analytic solutions have, thus, become a key enabler toward developing a robust marketing campaign. The growing emphasis of organizations on promoting products on social media platforms has become a major driving factor for the market

Deployment -Based Insights

The social media analytics market, by deployment, is segmented into cloud and on-premise. Cloud is expected to remain the largest segment during the forecast period. The cloud segment is growing considerably due to several advantageous characteristics, such as scalability and cost-effectiveness, which are expected to propel the social media analytics market growth during the forecast period. The growth of this segment can also be attributed to faster data processing and direct IT control, the efficient use of resources, and the cost-effectiveness of cloud models.

The social media analytics market is segmented into component, application, deployment, organization size, and vertical. Based on component, the market is segmented into solutions and services. Services are further bifurcated into professional and managed services. Based on application, the social media analytics market is segmented into customer experience management, competitive intelligence, sales & marketing management, and others. Based on deployment, the market is bifurcated into cloud and on-premise. Based on organization size, the social media analytics market is segmented into large enterprises and SMEs. Based on vertical, the social media analytics market is segmented into BFSI, IT & telecommunication, media & entertainment, retail & e-commerce, and others.

Based on geography, the social media analytics market is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). Cision Ltd.; Hootsuite Inc.; IBM Corporation; Meltwater NV; Oracle Corporation; Qualtrics International Inc.; Salesforce.com, Inc.; Sprout Social, Inc.; Talkwalker S.à.r.l.; and Zoho Corporation Pvt. Ltd. are key social media analytics market players.

Social media analytics market players are utilizing several strategies to focus on growth.

  • In May 2022, Sprout Social announced its partnership with TikTok as a part of the TikTok marketing partner program. It will launch first-of-its-kind integration that allows Sprout users to grow their video strategy.
  • In February 2021, Cision acquired Brandwatch for US$450 million, which has helped create strong media monitoring and contact databases. This acquisition combines two large players who offer a wide range of services from PR to marketing and social media engagement, making it a PR, Marketing, and social listening giant.

Frequently Asked Questions

The global social media analytics market was estimated to be USD 7,007.84 Mn million in 2021 and is expected to grow at a CAGR of 21.5 % during the forecast period 2022 - 2028.
The growing number of mobile phones and tablets with access to the internet, coupled with ever-growing user volume on social media platforms, is boosting the growth of the social media analytics market over the forecast period
The proliferation of AI technologies is anticipated to play a significant role in the Future conducting social media analytics in the coming years. AI can make specific recommendations on what actions need to be taken to maintain the health of the company assets.
The key players holding majority shares in the social media analytics market include Oracle Corporation, IBM Corporation, Qualtrics International Inc., Salesforce.com, Inc., and Zoho Corporation Pvt. Ltd.
APAC is anticipated to grow with the highest CAGR over the forecast period.
The country anticipated to grow with the highest CAGR are US, Germany, India, UAE, and Brazil.
The US held the largest market share in 2021, followed by China.
The competitive intelligence segment led the social media analytics market with a significant share in 2021 and is also expected to grow with a significant CAGR.
The social media analytics market is expected to reach US$ 26,295.33 Mn by 2028.
The incremental growth expected to be recorded for the social media analytics market during the forecast period is US$ 19,287.49 million.

The List of Companies - Social Media Analytics Market

  1. Cision Ltd.
  2. Hootsuite Inc.
  3. IBM Corporation
  4. Meltwater NV
  5. Oracle Corporation
  6. Qualtrics International Inc.
  7. Salesforce.com, Inc.
  8. Sprout Social, Inc.
  9. Talkwalker S.à.r.l.
  10. Zoho Corporation Pvt. Ltd.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the social media analytics market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the Social media analytics market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.
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