The global social media analytics market is forecast to reach USD 25.40 Billion by 2026, according to a new report by Reports and Data. The increasing need for understanding consumer needs and market trends is one of the major factors driving the market growth. The extensive adoption of smartphones, along with the popularity of social media, will also boost the growth of the market in the coming years. Social media has undoubtedly transformed the way of marketing and promoting businesses. Analytics in social media provides the opportunity to distribute targeted messages through plenty of tools and channels. To reach the full potential of a business, they must understand the opinions and preferences of the target audience.

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Further key findings from the report suggest
Among the technologies, the predictive analysis accounts for the largest market share of ~36% in the year 2018. Predictive analytics harnesses big data to predict future events or results. It integrates various techniques from data mining, statistics, modeling, machine learning, and artificial intelligence to process and analyze data to develop predictions.
The descriptive analysis technology is forecasted to witness a higher growth rate of 29.6% during the forecast period. The descriptive analysis summarizes the raw data and is interpreted by the users. They analyze historical data, allowing the users to gain information on the behavior of their customers over the social media, and understand how to influence the future outcomes. Descriptive analytics is used to infer at an aggregate level, the competitive insights of the company, as well as summarize and describe different aspects of the business.
The sales and marketing application accounted for the largest market share of ~27% in the year 2018. Analyzing social media helps organizations understand their targeted audience. Organizations can use social media marketing, analyze and define the segments of their audience that were most interested in certain types of products in order to offer insight and more effectively support their strategies. The feedbacks, ratings, and responses of the consumers can be analyzed to understand the consumer behavior and preferences. This help companies to improve their existing products and services to increase customer satisfaction.
The application in risk management and fraud detection is forecasted to witness a higher growth rate of 29.7% during the forecast period. The technology can highlight obstacles and weaknesses to discover new trends and avoid a brand crisis. The companies can search for products with negative sentiment rating and can further liquidate those products.
North America held the largest market share of ~29% in the year 2018. The popularity of social media sites from the region is the key driver of the market. Sites like Facebook and Twitter have maximum users from this region. With social media coming on smartphones also, the ease of using social media has increased. Data analytics has helped firms accurately identify target audiences. With social media growing further, the usage of social media analytics will only grow.
Key participants include International Business Machines Corporation, Oracle Corporation, Salesforce, Adobe Systems Incorporated, SAS Institute Inc., Talkwalker Inc., GoodData Corporation, Crimson Hexagon, Inc., Digimind, Unmetric Inc, Cision US Inc., Simplify360, Inc., Hootsuite Media Inc., and Meltwater, among others.

The report covers a comprehensive analysis of the impact of the COVID-19 pandemic on the global market. The pandemic has adversely impacted the businesses and industries due to stringent government policies on social restrictions, transportation bans, and disruption in production and product supply chains. The report provides a comprehensive analysis of the pandemic’s impact on the global market and offers key insights into ways to circumvent the negative effect of the pandemic.

Market Segmentation:
The global Social Media Analytics market report covers a detailed analysis of the market segmentation to provide key insights into the scope of the market expansion. The global Social Media Analytics market has been segregated on the basis of product types, applications, end-users, and key regions of the industry.

Technology Outlook (Revenue, USD Billion; 2016-2026)
Predictive analytics
Descriptive analytics
Prescriptive analytics
Diagnostic analytics

Component Outlook (Revenue, USD Billion; 2016-2026)
Solutions
Services

Organization Size Outlook (Revenue, USD Billion; 2016-2026)
Small and Medium-Sized Enterprises
Large Enterprises

Deployment Type Outlook (Revenue, USD Billion; 2016-2026)
On-premises
Cloud

Applications Outlook (Revenue, USD Billion; 2016-2026)
Sales and Marketing
Customer Experience Management
Supply Chain Management
Risk management and fraud detection
Others

Industry Vertical Outlook (Revenue, USD Billion; 2016-2026)
Retail and eCommerce
Government and defense
Healthcare and life sciences
IT and Telecommunications
Banking, Financial Services, and Insurance
Others

Regional Analysis:
The regional bifurcation of the Social Media Analytics market report is a comprehensive segment that covers a thorough analysis of the market dynamics and offers critical insights on import/export ratio, supply and demand dynamics, revenue share, market size, market share, industry analysis, production and consumption patterns, and the current and emerging trends of each region. The report also offers a country-wise analysis to confer a better understanding of the market.

The prominent geographical regions of the market include:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Competitive Landscape:
The global Social Media Analytics market report covers a comprehensive overview of the market’s competitive landscape, providing a detailed analysis of the company profile, product portfolio, market position, global network, revenue share, profit margins, technological and product advancements, and SWOT analysis of each player. The report also provides extensive insights into strategic business expansions such as mergers & acquisitions, collaborations, corporate deals, distribution partnerships, and product launches, among others.

Key Highlights from the Report:
Detailed overview of the Social Media Analytics market in the forecast years
Accurate estimation through in-depth analysis of key market trends and features
Extensive regional analysis and insights regarding the regions projected to exhibit lucrative growth
Comprehensive analysis of the competitive landscape
Study of the recent development and trends in the market

Highlights of the TOC:
Report Overview
1.1 Research Scope
1.2 Key Social Media Analytics market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global Social Media Analytics market size
2.2 Latest Social Media Analytics market trends
2.3 Key growth trends
Competitive Landscape
3.1 Global Social Media Analytics market key players
3.2 Global Social Media Analytics size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Social Media Analytics market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
Continue…

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