Harrisburg, NC -- (SBWIRE) -- 08/20/2018 -- The global social media analytics market was valued at USD 3.07 billion in 2017 and is projected to reach a value of USD 16.37 billion by the end of 2023, at a CAGR of 28.20% over the forecast period, 2018-2023.
Report elaborates the complete details covering product definition, product type, and application. The report covers useful details which are categorized based on Social Media Analytics production region, major players, and product type which will provide a simplified view of the Social Media Analytics industry. The Social Media Analytics market report presents the competitive scenario of the major market players based on the sales revenue, customer demands, company profile, the business tactics used in Social Media Analytics market which will help the emerging market segments in making vital business decisions.
Top Leading Manufacturers: IBM Corporation, SAS Institute Inc., Clarabridge Inc., Gooddata, Crimson Hexagon Inc., Adobe Systems Incorporated, Oracle Corporation, Salesforce.com, Netbase Solutions Inc., Simply Measured, SAP SE, Tableau Software Inc..
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Essential points covered in Social Media Analytics Market 2018 Research are:-
- What will the market size and the growth rate be in 2023?
- What are the key factors driving the Social Media Analytics market?
- What are the key market trends impacting the growth of the Social Media Analytics market?
- What are the challenges to market growth?
- Who are the key vendors in the Social Media Analytics market?
- What are the market opportunities and threats faced by the vendors in the Social Media Analytics market?
- What are the key outcomes of the five forces analysis of the Social Media Analytics market?
This independent 113 pages report guarantees you will remain better informed than your competition. With figures examining the Social Media Analytics market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader's market revenue forecasts as well as analysis to 2023.
Retail Sector accounts for a Dominant Market Share
Businesses engage with customers through social media platforms by associating their product list with e-commerce sites, which helps in monitoring people and fostering relationships with them. Increasing number of companies are using the collected information to understand their customers better. Retail businesses are attempting to make sense of the vast amount of data generated through societal, personal, and industrial interactions, such as social media, geo-location, mobile devices, digital sensors, point of sale, and automation.
Increased Emphasis on Targeted Marketing and Competitive Intelligence
A steady decline in the effectiveness of traditional advertising campaigns, coupled with the rising social media usage, has prompted businesses to adopt a more data-oriented approach for their marketing strategies. Social networks, such as Facebook, have realized the importance of targeted advertising they are offering, through paid solutions to businesses, wherein location, demographics, and end-device information of consumers are made available for businesses to reach out to targeted section of consumers.
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North America Occupied a Major Market Share
Social media is one of the most popular means of communication in the United States. About 89% of the population from the age group of 18-28 is active on social media, generating a significant amount of content. Furthermore, about 80% of the population lies within the age group of 30-49, and 64% in the 50-64 age group. These age groups are also found to be active across different social media platforms. Owing to such high participation of population in different social media, companies, such as Amazon, IBM, and Oracle, have been deploying social media analytics to generate insights and gain a better understanding of the consumer behavior, which further guides their business and strategic decision making.
Reasons to Purchase This Report
- Impact of big data and effective data processing techniques on analytics providers
- Analyze various market perspectives, with the help of Porter's five forces analysis
- Growth across various end-user verticals, such as retail, media & entertainment, and banking & financial services
- Regional analysis of the market
- Identify the latest developments, market shares, and strategies that are employed by the major market players
- 3 months analyst supports, along with the Market Estimate sheet (in excel).
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