Social Media Analytics Market Size, Trends and Insights By Component (Solution, Services), By Deployment (On-Premises, Cloud), By Analytics (Predictive Analytics, Prescriptive Analytics, Diagnostics Analytics, Descriptive Analytics), By Organization Size (Large Enterprises, SMEs), By Industry (Retail & E-commerce, BFSI, Healthcare, IT & Telecom, Government & Defense, Travel & Hospitality, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | North America |
| Largest Market: | Europe |
Major Players
- IBM Corporation
- Clarabridge Inc.
- SAS Institute Inc.
- GoodData Corporation
- Others
Reports Description
Global “Social Media Analytics Market” research report comprises historic data, current market estimations &forecasts, PEST analysis, driving & restraining factors, upcoming technologies, competitive analysis, and technological developments concerning the related industry. Further, the report categorizes the key profiles of global key players. Additionally, the global Social Media Analytics market potential report is studied with the amalgamation of steps, including industry insights and practical solutions.
As per the research on the “Global Social Media Analytics Market”, the market is estimated at around USD 4.5 billion in 2021 and is projected to witness USD 10.2 billion by 2030 at a CAGR growth of approximately 14% during 2022-2030.
Social Media Analytics Market: Overview
The process of gathering and analyzing audience data shared on social media networks in order to improve an organization’s strategic business decisions is known as Social Media Analytics. Social media can help businesses by allowing marketers to identify consumer behavior trends that are relevant to a company’s industry and determine marketing efforts’ success.
Another important way Social Media Analytics helps marketing campaigns is by providing data that can be used to calculate a campaign’s return on investment (ROI) based on traffic from various social media channels. Marketers can also examine the performance of various social platforms, such as Facebook, LinkedIn, and Twitter, as well as specific social media posts, to specify which messaging and topics resonate best with a target audience.
Social Media Analytics Market: COVID–19 Impact Analysis
Businesses worldwide are striving for stability and survival due to the coronavirus disease (COVID-19) outbreak to minimize the pandemic’s impact on overall operations and revenue. As a result, businesses are relying on advanced analytics such as SMA to understand the pandemic’s real-time scenario via social media interactions around the world. Apart from this, the increased use of social media networking sites due to rising internet penetration and increased smartphone sales contributes to market growth. Furthermore, organizations are focusing on sales analysis in an attempt to optimize their market presence and achieve a competitive edge.
Social Media Analytics Market: Growth Drivers
The surging social media users’
The surging number of social media users is propelling the Social Media Analytics market and is anticipated to do so throughout 2022-2030. This allows Social Media Analytics companies to collect better customer data and conduct more in-depth customer behavioral analyses. The use of smartphones, laptops and personal computers with internet access has grown with time. This had a notable impact on social media platforms. People have started using social media for communication, online shopping, and other social connectivity activities as digital technologies have advanced. These have encouraged businesses to enforce Social Media Analytics solutions in order to better understand their client requirements and desires, as well as the viability of their products.
Enormous data generation
Several popular social media platforms include Instagram, Twitter, LinkedIn, Pinterest, YouTube, and Facebook. Because of its flexibility in use and ease of communication with peers, the millennial generation is rapidly adopting social media. Users spent around one minute out of every five minutes on social media. These platforms generate massive amounts of data in text, video, voice, and location, all of which contain valuable information. Enterprises want to use this data to improve their business models and gain a competitive advantage. Customers’ desire to easily access social media platforms is met by the introduction of next-generation communication technology such as Long-Term Evolution (LTE) and Advanced LTE.
Social Media Analytics Market: Segmentation Analysis
The market for Social Media Analytics is classified into component, deployment, analytics, organization size, and industry. The Social Media Analytics market is categorized into solutions and services. The use of Social Media Analytics has grown in popularity because it can be used for a variety of purposes, including competitive intelligence and customer experience management. The increasing use of Social Media Analytics across all major industry verticals is boosting its adoption. Most of the Social Media Analytics market requires cloud-based solutions because they are cost-effective and easily scalable. It is also simple to keep and manage data. Its low OPEX allows users to pay per usage and focus more time and energy on core business goals.
The Social Media Analytics solution is offered as SaaS in the cloud deployment model, and all Social Media Analytics workloads are cloud-based. The Social Media Analytics solution vendors handle the customer’s IT infrastructure requirements, data availability, redundancy, virtual private network setup, configuration, security protocols and audits, and maintenance and updates. End users are interested in cloud-based solutions because of the low operational costs, ease of deployment, flexibility, scalability, and collaboration.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 4.5 Billion |
| Projected Market Size in 2030 | USD 10.2 Billion |
| CAGR Growth Rate | 14% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | IBM Corporation, Clarabridge Inc., SAS Institute Inc., GoodData Corporation, Crimson Hexagon Inc., Oracle Corporation, Adobe Systems Inc., Salesforce.com Inc. (Tableau Software Inc.), Sprout Social Inc., Netbase Solutions Inc., and Others |
| Key Segment | By Component, Deployment, Analytics, Organization Size, Industry, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Insights:
- As per the analysis shared by our research analyst, the Social Media Analytics market is estimated to grow annually at a CAGR of around 14% over the forecast period (2022-2030).
- In terms of revenue, the Social Media Analytics market size was valued at around USD 4.5 billion in 2021. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on component segmentation, the software segment was estimated to hold the maximum market share in the year 2021.
- Based on deployment segmentation, the cloud-based segment was the leading revenue-generating category in 2021.
- Based on analytics segmentation, the descriptive analytics segment is projected to exhibit a higher CAGR during 2022-2030.
- Based on organization size segmentation, the SME segment is expected to experience tremendous growth during the forecast period.
- Based on industry segmentation, the retail & e-commerce segment led the market in 2021.
- On the basis of geography, the North American region was the leading revenue generator in 2021.
Recent Development
- June 2022: Pinterest unveiled real-time analytics elements in Pin Analytics on mobile, providing more information on how Pins are performing at any given time.
- August 2022: DGTL Holdings Inc. announced new PaaS contracts from two global CPG conglomerates to its wholly-owned subsidiary Engagement Labs.
Regional Landscape
During 2022-2030, the North American region is expected to have the largest market share. Most organizations in North America regard sales and marketing management as well as competitive intelligence as highly effective. Europe, on the other hand, is gradually integrating these advanced solutions into its businesses. Because of rising digitalization and demand for centrally managed systems, APAC is seeing a significant increase in the usage of Social Media Analytics.
Competitive Landscape
The Social Media Analytics market is extremely competitive and has several players, resulting in a relatively fragmented market. Multiple players specializing in a specific vertical of the market industry, as well as other players using only monitoring tools, are active.
The majority of the major players provide all-encompassing suites with a wide range of capabilities. However, niche players are developing new capabilities; for example, Dataroma developed a real-time analytics platform that identifies optimization opportunities. As a result of such developments, the market is ripe for consolidation via mergers and acquisitions. For capturing more market share and profitability, the companies are also leveraging strategic collaborative initiatives.
The global Social Media Analytics market is segmented as follows:
By Component
- Solution
- Services
By Deployment
- On-Premises
- Cloud
By Analytics
- Predictive analytics
- Prescriptive analytics
- Diagnostics analytics
- Descriptive analytics
By Organization Size
- Large Enterprises
- SMEs
By Industry
- Retail & E-commerce
- BFSI
- Healthcare
- IT & Telecom
- Government & Defense
- Travel & Hospitality
- Others
On the basis of Geography
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Social Media Analytics Market, (2022 – 2030) (USD Billion)
- 2.2 Global Social Media Analytics Market: snapshot
- Chapter 3. Global Social Media Analytics Market – Industry Analysis
- 3.1 Social Media Analytics Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 The surging social media users’
- 3.2.2 Enormous data generation
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Component
- 3.7.2 Market attractiveness analysis By Deployment
- 3.7.3 Market attractiveness analysis By Analytics
- 3.7.4 Market attractiveness analysis By Organization Size
- 3.7.5 Market attractiveness analysis By Industry
- Chapter 4. Global Social Media Analytics Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Social Media Analytics Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Social Media Analytics Market – Component Analysis
- 5.1 Global Social Media Analytics Market overview: By Component
- 5.1.1 Global Social Media Analytics Market share, By Component, 2021 and 2030
- 5.2 Solution
- 5.2.1 Global Social Media Analytics Market by Solution, 2022 – 2030 (USD Billion)
- 5.3 Services
- 5.3.1 Global Social Media Analytics Market by Services, 2022 – 2030 (USD Billion)
- 5.1 Global Social Media Analytics Market overview: By Component
- Chapter 6. Global Social Media Analytics Market – Deployment Analysis
- 6.1 Global Social Media Analytics Market overview: By Deployment
- 6.1.1 Global Social Media Analytics Market share, By Deployment, 2021 and 2030
- 6.2 On-Premises
- 6.2.1 Global Social Media Analytics Market by On-Premises, 2022 – 2030 (USD Billion)
- 6.3 Cloud
- 6.3.1 Global Social Media Analytics Market by Cloud, 2022 – 2030 (USD Billion)
- 6.1 Global Social Media Analytics Market overview: By Deployment
- Chapter 7. Global Social Media Analytics Market – Analytics Analysis
- 7.1 Global Social Media Analytics Market overview: By Analytics
- 7.1.1 Global Social Media Analytics Market share, By Analytics, 2021 and 2030
- 7.2 Predictive Analytics
- 7.2.1 Global Social Media Analytics Market by Predictive Analytics, 2022 – 2030 (USD Billion)
- 7.3 Prescriptive Analytics
- 7.3.1 Global Social Media Analytics Market by Prescriptive Analytics, 2022 – 2030 (USD Billion)
- 7.4 Diagnostics Analytics
- 7.4.1 Global Social Media Analytics Market by Diagnostics Analytics, 2022 – 2030 (USD Billion)
- 7.5 Descriptive Analytics
- 7.5.1 Global Social Media Analytics Market by Descriptive Analytics, 2022 – 2030 (USD Billion)
- 7.1 Global Social Media Analytics Market overview: By Analytics
- Chapter 8. Global Social Media Analytics Market – Organization Size Analysis
- 8.1 Global Social Media Analytics Market overview: By Organization Size
- 8.1.1 Global Social Media Analytics Market share, By Organization Size, 2021 and 2030
- 8.2 Large Enterprises
- 8.2.1 Global Social Media Analytics Market by Large Enterprises, 2022 – 2030 (USD Billion)
- 8.3 SMEs
- 8.3.1 Global Social Media Analytics Market by SMEs, 2022 – 2030 (USD Billion)
- 8.1 Global Social Media Analytics Market overview: By Organization Size
- Chapter 9. Global Social Media Analytics Market – Industry Analysis
- 9.1 Global Social Media Analytics Market overview: By Industry
- 9.1.1 Global Social Media Analytics Market share, By Industry, 2021 and 2030
- 9.2 Retail & E-commerce
- 9.2.1 Global Social Media Analytics Market by Retail & E-commerce, 2022 – 2030 (USD Billion)
- 9.3 BFSI
- 9.3.1 Global Social Media Analytics Market by BFSI, 2022 – 2030 (USD Billion)
- 9.4 Healthcare
- 9.4.1 Global Social Media Analytics Market by Healthcare, 2022 – 2030 (USD Billion)
- 9.5 IT & Telecom
- 9.5.1 Global Social Media Analytics Market by IT & Telecom, 2022 – 2030 (USD Billion)
- 9.6 Government & Defense
- 9.6.1 Global Social Media Analytics Market by Government & Defense, 2022 – 2030 (USD Billion)
- 9.7 Travel & Hospitality
- 9.7.1 Global Social Media Analytics Market by Travel & Hospitality, 2022 – 2030 (USD Billion)
- 9.8 Others
- 9.8.1 Global Social Media Analytics Market by Others, 2022 – 2030 (USD Billion)
- 9.1 Global Social Media Analytics Market overview: By Industry
- Chapter 10. Social Media Analytics Industry – Regional Analysis
- 10.1 Global Social Media Analytics Industry Regional Overview
- 10.2 Global Social Media Analytics Industry Share, by Region, 2021 & 2030 (USD Billion)
- 10.3. North America
- 10.3.1 North America Social Media Analytics Industry, 2022 – 2030 (USD Billion)
- 10.3.1.1 North America Social Media Analytics Industry, by Country, 2022 – 2030 (USD Billion)
- 10.3.1 North America Social Media Analytics Industry, 2022 – 2030 (USD Billion)
- 10.4 North America Social Media Analytics Industry, by Component, 2022 – 2030
- 10.4.1 North America Social Media Analytics Industry, by Component, 2022 – 2030 (USD Billion)
- 10.5 North America Social Media Analytics Industry, by Deployment, 2022 – 2030
- 10.5.1 North America Social Media Analytics Industry, by Deployment, 2022 – 2030 (USD Billion)
- 10.6 North America Social Media Analytics Industry, by Analytics, 2022 – 2030
- 10.6.1 North America Social Media Analytics Industry, by Analytics, 2022 – 2030 (USD Billion)
- 10.7 North America Social Media Analytics Industry, by Organization Size, 2022 – 2030
- 10.7.1 North America Social Media Analytics Industry, by Organization Size, 2022 – 2030 (USD Billion)
- 10.8 North America Social Media Analytics Industry, by Industry, 2022 – 2030
- 10.8.1 North America Social Media Analytics Industry, by Industry, 2022 – 2030 (USD Billion)
- 10.4. Europe
- 10.4.2 Europe Social Media Analytics Industry, 2022 – 2030 (USD Billion)
- 10.4.2.1 Europe Social Media Analytics Industry, by Country, 2022 – 2030 (USD Billion)
- 10.4.2 Europe Social Media Analytics Industry, 2022 – 2030 (USD Billion)
- 10.4 Europe Social Media Analytics Industry, by Component, 2022 – 2030
- 10.4.1 Europe Social Media Analytics Industry, by Component, 2022 – 2030 (USD Billion)
- 10.5 Europe Social Media Analytics Industry, by Deployment, 2022 – 2030
- 10.5.1 Europe Social Media Analytics Industry, by Deployment, 2022 – 2030 (USD Billion)
- 10.6 Europe Social Media Analytics Industry, by Analytics, 2022 – 2030
- 10.6.1 Europe Social Media Analytics Industry, by Analytics, 2022 – 2030 (USD Billion)
- 10.7 Europe Social Media Analytics Industry, by Organization Size, 2022 – 2030
- 10.7.1 Europe Social Media Analytics Industry, by Organization Size, 2022 – 2030 (USD Billion)
- 10.8 Europe Social Media Analytics Industry, by Industry, 2022 – 2030
- 10.8.1 Europe Social Media Analytics Industry, by Industry, 2022 – 2030 (USD Billion)
- 10.5. Asia Pacific
- 10.5.3 Asia Pacific Social Media Analytics Industry, 2022 – 2030 (USD Billion)
- 10.5.3.1 Asia Pacific Social Media Analytics Industry, by Country, 2022 – 2030 (USD Billion)
- 10.5.3 Asia Pacific Social Media Analytics Industry, 2022 – 2030 (USD Billion)
- 10.4 Asia Pacific Social Media Analytics Industry, by Component, 2022 – 2030
- 10.4.1 Asia Pacific Social Media Analytics Industry, by Component, 2022 – 2030 (USD Billion)
- 10.5 Asia Pacific Social Media Analytics Industry, by Deployment, 2022 – 2030
- 10.5.1 Asia Pacific Social Media Analytics Industry, by Deployment, 2022 – 2030 (USD Billion)
- 10.6 Asia Pacific Social Media Analytics Industry, by Analytics, 2022 – 2030
- 10.6.1 Asia Pacific Social Media Analytics Industry, by Analytics, 2022 – 2030 (USD Billion)
- 10.7 Asia Pacific Social Media Analytics Industry, by Organization Size, 2022 – 2030
- 10.7.1 Asia Pacific Social Media Analytics Industry, by Organization Size, 2022 – 2030 (USD Billion)
- 10.8 Asia Pacific Social Media Analytics Industry, by Industry, 2022 – 2030
- 10.8.1 Asia Pacific Social Media Analytics Industry, by Industry, 2022 – 2030 (USD Billion)
- 10.6. Latin America
- 10.6.4 Latin America Social Media Analytics Industry, 2022 – 2030 (USD Billion)
- 10.6.4.1 Latin America Social Media Analytics Industry, by Country, 2022 – 2030 (USD Billion)
- 10.6.4 Latin America Social Media Analytics Industry, 2022 – 2030 (USD Billion)
- 10.4 Latin America Social Media Analytics Industry, by Component, 2022 – 2030
- 10.4.1 Latin America Social Media Analytics Industry, by Component, 2022 – 2030 (USD Billion)
- 10.5 Latin America Social Media Analytics Industry, by Deployment, 2022 – 2030
- 10.5.1 Latin America Social Media Analytics Industry, by Deployment, 2022 – 2030 (USD Billion)
- 10.6 Latin America Social Media Analytics Industry, by Analytics, 2022 – 2030
- 10.6.1 Latin America Social Media Analytics Industry, by Analytics, 2022 – 2030 (USD Billion)
- 10.7 Latin America Social Media Analytics Industry, by Organization Size, 2022 – 2030
- 10.7.1 Latin America Social Media Analytics Industry, by Organization Size, 2022 – 2030 (USD Billion)
- 10.8 Latin America Social Media Analytics Industry, by Industry, 2022 – 2030
- 10.8.1 Latin America Social Media Analytics Industry, by Industry, 2022 – 2030 (USD Billion)
- 10.7. The Middle-East and Africa
- 10.7.5 The Middle-East and Africa Social Media Analytics Industry, 2022 – 2030 (USD Billion)
- 10.7.5.1 The Middle-East and Africa Social Media Analytics Industry, by Country, 2022 – 2030 (USD Billion)
- 10.7.5 The Middle-East and Africa Social Media Analytics Industry, 2022 – 2030 (USD Billion)
- 10.4 The Middle-East and Africa Social Media Analytics Industry, by Component, 2022 – 2030
- 10.4.1 The Middle-East and Africa Social Media Analytics Industry, by Component, 2022 – 2030 (USD Billion)
- 10.5 The Middle-East and Africa Social Media Analytics Industry, by Deployment, 2022 – 2030
- 10.5.1 The Middle-East and Africa Social Media Analytics Industry, by Deployment, 2022 – 2030 (USD Billion)
- 10.6 The Middle-East and Africa Social Media Analytics Industry, by Analytics, 2022 – 2030
- 10.6.1 The Middle-East and Africa Social Media Analytics Industry, by Analytics, 2022 – 2030 (USD Billion)
- 10.7 The Middle-East and Africa Social Media Analytics Industry, by Organization Size, 2022 – 2030
- 10.7.1 The Middle-East and Africa Social Media Analytics Industry, by Organization Size, 2022 – 2030 (USD Billion)
- 10.8 The Middle-East and Africa Social Media Analytics Industry, by Industry, 2022 – 2030
- 10.8.1 The Middle-East and Africa Social Media Analytics Industry, by Industry, 2022 – 2030 (USD Billion)
- Chapter 11. Company Profiles
- 11.1 IBM Corporation
- 11.1.1 Overview
- 11.1.2 Financials
- 11.1.3 Product Portfolio
- 11.1.4 Business Strategy
- 11.1.5 Recent Developments
- 11.2 Clarabridge Inc.
- 11.2.1 Overview
- 11.2.2 Financials
- 11.2.3 Product Portfolio
- 11.2.4 Business Strategy
- 11.2.5 Recent Developments
- 11.3 SAS Institute Inc.
- 11.3.1 Overview
- 11.3.2 Financials
- 11.3.3 Product Portfolio
- 11.3.4 Business Strategy
- 11.3.5 Recent Developments
- 11.4 GoodData Corporation
- 11.4.1 Overview
- 11.4.2 Financials
- 11.4.3 Product Portfolio
- 11.4.4 Business Strategy
- 11.4.5 Recent Developments
- 11.5 Crimson Hexagon Inc.
- 11.5.1 Overview
- 11.5.2 Financials
- 11.5.3 Product Portfolio
- 11.5.4 Business Strategy
- 11.5.5 Recent Developments
- 11.6 Oracle Corporation
- 11.6.1 Overview
- 11.6.2 Financials
- 11.6.3 Product Portfolio
- 11.6.4 Business Strategy
- 11.6.5 Recent Developments
- 11.7 Adobe Systems Inc.
- 11.7.1 Overview
- 11.7.2 Financials
- 11.7.3 Product Portfolio
- 11.7.4 Business Strategy
- 11.7.5 Recent Developments
- 11.8 Salesforce.com Inc. (Tableau Software Inc.)
- 11.8.1 Overview
- 11.8.2 Financials
- 11.8.3 Product Portfolio
- 11.8.4 Business Strategy
- 11.8.5 Recent Developments
- 11.9 Sprout Social Inc.
- 11.9.1 Overview
- 11.9.2 Financials
- 11.9.3 Product Portfolio
- 11.9.4 Business Strategy
- 11.9.5 Recent Developments
- 11.10 Netbase Solutions Inc.
- 11.10.1 Overview
- 11.10.2 Financials
- 11.10.3 Product Portfolio
- 11.10.4 Business Strategy
- 11.10.5 Recent Developments
- 11.1 IBM Corporation
List Of Figures
Figures No 1 to 37
List Of Tables
Tables No 1 to 127
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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FAQs
North American region will lead the global Social Media Analytics market during the forecast period 2022 to 2030.
The surging number of social media users is propelling the Social Media Analytics market and is anticipated to do so throughout 2022-2030.
The key players operating in the Social Media Analytics market are IBM Corporation, Clarabridge Inc., SAS Institute Inc., GoodData Corporation, Crimson Hexagon Inc., Oracle Corporation, Adobe Systems Inc., and Salesforce.com Inc. (Tableau Software Inc.), Sprout Social Inc., Netbase Solutions Inc., and Others.
The global Social Media Analytics market is expanding growth with a CAGR of approximately 14% during the forecast period (2022 to 2030).
The global Social Media Analytics market size was valued at USD 4.5 billion in 2021 and it is projected to reach around USD 10.2 billion by 2030.