Social Media Analytics Market to grow by USD 14.01 Billion (2024-2028), driven by data availability and complexity, with AI-powered market evolution report - Technavio

NEW YORK, Dec. 4, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global social media analytics market  size is estimated to grow by USD 14.01 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 31.33%  during the forecast period. Growing availability and complexity of data is driving market growth, with a trend towards surging use of advanced targeting options. However, concerns associated with interpreting unstructured data  poses a challenge. Key market players include Adobe Inc., Agorapulse SAS, Big Propeller LLC, Brand24 Inc., Cision US Inc., Digimind, GoodData Corp., International Business Machines Corp., Khoros LLC, Meltwater NV, MetaQuotes Ltd., NetBase Solutions Inc., Oracle Corp., Reputation Group of Companies, Salesforce Inc., SAP SE, SAS Institute Inc., Simplify360, Sprout Social Inc., and Talkwalker Sarl.

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Key Market Trends Fueling Growth

Social media analytics is a vital business tool that helps companies make data-driven decisions. Advanced technologies like AI speech recognition and machine learning power this market, collecting and analyzing data from social media platforms and tools. Real-time monitoring, performance measurement, and campaign optimization are key trends. Blockchain solutions and cybersecurity measures ensure data security. Self-learning systems and neuroscientific principles enhance insights. Demographic information, competitive information, and business information are crucial data points. Profit margins, workforce management, and customer data are other essential areas of focus. Unstructured social data, cloud adoption, and SaaS solutions are emerging trends. Industries like media & entertainment, IT & telecom, healthcare, and travel benefit greatly. Data identification, preparation, modeling, visualization, and data security concerns are ongoing challenges. Social media analytics drives customer service, engagement, and targeted marketing. User sentiments, competitor intelligence, and influencer tracking are essential for businesses. Cloud-based analytical solutions and AI-powered tools are the future. 

Social media analytics plays a crucial role in identifying potential customers for businesses by analyzing user data on various social networks. Beyond demographic and geographic targeting, social media analytic tools offer interest targeting, allowing brands to reach consumers based on their stated interests, activities, and skills. This service, available on Facebook, LinkedIn, Pinterest, and Twitter, enables effective keyword research and market exploration. By promoting product segments to interested audiences, social media analytics enhances the reach and effectiveness of social media advertising. 

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• Social media analytics is a vital business tool for understanding customer behavior, trends, and competition in today's digital landscape. Advanced technologies like AI speech recognition and machine learning help in data modeling, identification, and preparation. However, challenges include data collection from various social media platforms and tools, real-time monitoring, and data security. Blockchain solutions and cybersecurity measures ensure data privacy and integrity. Self-learning systems and neuroscientific principles enhance performance monitoring and customer engagement. Profit margins rely on demographic information, competitive and business intelligence, and customer data. Emerging technologies like cloud adoption, SaaS, and AI-powered solutions offer unstructured social data analysis, targeted marketing, and emotional intelligence. Industries like media & entertainment, IT & telecom, healthcare, and travel benefit from social media analytics. Data security concerns and cloud deployment models are key considerations for large enterprises. Brands use social media analytics for customer service, workforce management, and user sentiments analysis.
• In today's business landscape, managing a company's social media presence is a crucial aspect of brand building and customer engagement. Social media platforms provide both free and paid services for businesses to advertise, promote, and endorse their products and services. An experienced professional is responsible for managing the organization's social media profile, ensuring timely updates and relevant feeds. Customer interaction on these platforms is essential for determining the success of products and building brand loyalty. The sheer size of the audience requires a substantial investment in manpower to effectively manage the official page. Companies delegate this responsibility to individuals or teams to maintain a strong online presence.

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This social media analytics market report extensively covers market segmentation by

1. Application 
• 1.1 Sales and marketing management
• 1.2 Customer experience management
• 1.3 Competitive intelligence
• 1.4 Risk management
• 1.5 Public safety and law enforcement
2. End-user 
• 2.1 Retail
• 2.2 Government
• 2.3 Media and entertainment
• 2.4 Travel
• 2.5 Others
3. Deployment 
• 3.1 On-premise
• 3.2 Cloud
4. Geography 
• 4.1 North America
• 4.2 APAC
• 4.3 Europe
• 4.4 South America
• 4.5 Middle East and Africa

1.1 Sales and marketing management-  Social media analytics (SMA) professionals utilize natural language processing and analysis to understand consumer behavior on social media platforms. These tools identify industry capability gaps and inform sales and marketing strategies based on customer feedback. Amidst the COVID-19 pandemic, brands have had to adapt their advertising, marketing, and promotional activities. Consumer engagement through social media has shifted, leading businesses to restructure their campaigns for sustained interest and spending while maintaining a healthy return on investment. These factors contribute to the growth of the SMA market during the forecast period. Organizations leverage social media data to optimize marketing techniques and boost sales.

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Social media analytics is a dynamic and evolving market driven by advanced technologies that help businesses make data-driven decisions. It involves data collection from various social media platforms, audience analysis to understand customer behavior, and competitor analysis to stay ahead of the competition. Content optimization and campaign measurement are crucial for effective social media marketing, while sentiment analysis provides insights into public opinion. Real-time monitoring is essential for timely response to customer queries and crisis management. Emerging technologies like AI speech recognition and cloud-based analytical solutions are transforming the market. With increasing internet penetration and social media users, small and medium-scale organizations are adopting social media analytics for growth. Data security concerns are being addressed through cloud deployment models. Mobile phones and tablets are the primary devices for social media access, and e-commerce and online shopping are major sectors leveraging social media analytics.

Social media analytics is a dynamic and evolving market driven by advanced technologies and the increasing use of social media platforms. Data collection is at the core, with real-time monitoring, performance measurement, and campaign optimization key components. Unstructured social data from various sources is identified, prepared, and modeled for insights. AI speech recognition, machine learning, and self-learning systems apply neuroscientific principles to understand emotions and customer sentiments. Cloud adoption and SaaS solutions enable access to data and analysis from anywhere. Emerging technologies like blockchain and cybersecurity measures ensure data security. Large enterprises in sectors like media & entertainment, IT & telecom, healthcare, and travel leverage social media analytics for business intelligence, competitive information, and customer data. Small/medium-scale organizations and online shopping/e-commerce also benefit from targeted marketing and workforce management tools. Internet penetration and social media users continue to grow, fueling the demand for advanced social media analytics. However, data security concerns and cloud deployment models remain critical issues. The market is expected to see continued innovation with AI-powered solutions, augmented reality, and targeted marketing applications.Voices and user sentiments are increasingly important for brands, making social media analytics an essential tool for businesses.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Sales And Marketing Management
• Customer Experience Management
• Competitive Intelligence
• Risk Management
• Public Safety And Law Enforcement
• End-user
• Retail
• Government
• Media And Entertainment
• Travel
• Others
• Deployment
• On-premise
• Cloud
• Geography
• North America
• APAC
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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Technavio Research
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SOURCE Technavio