Social Media Analytics Market Worth $18.76 Billion by 2030

As per a research report “Social Media Analytics Market” published by Diligence Insights, the global social media analytics market is growing at a CAGR of 21.5%

HYDERABAD, TELANGANA, INDIA, May 1, 2024 /EINPresswire.com/ — The social media analytics market is expected to witness significant growth in the future due to the increase of smartphones with access to the internet, an increase in social media users, and growing developments in digital technology. Additionally, advancements in AI and machine learning and the rising importance of consumer insights are the prominent factors driving the growth of the market.

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Software segment is anticipated to have the Largest Market Share during the Forecast Period

The software segment is expected to have a significant share in the social media analytics market during the forecast period owing to the escalating volume and velocity of social media data, software tools are prioritizing real-time monitoring capabilities. This empowers businesses to swiftly track and address customer feedback, emerging trends, or potential crises across social media platforms. The integration of AI and ML technologies is revolutionizing social media analytics software, facilitating automated data processing, pattern recognition, and predictive analytics. These advancements enable businesses to unearth valuable insights and refine their social media strategies effectively. Furthermore, social media analytics software is increasingly equipped with features to identify and assess influencers. These tools aid businesses in pinpointing influential individuals, gauging their impact, and evaluating the efficacy of influencer marketing endeavors.

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North America Accounts for the Largest Market Size during the Forecast Period

North America holds the top position in market size during the forecast period due to the increasing turning to real-time social media analytics to stay updated on the latest trends, understand customer sentiments, and address emerging challenges. This emphasis on real-time data enables swift decision-making, proactive engagement with consumers, and effective crisis management. Moreover, there’s a growing recognition of the importance of compliance and data protection in social media analytics, driven by evolving privacy regulations like GDPR and CCPA. Consequently, companies in North America are investing in solutions that ensure adherence to these stringent privacy laws, prioritizing robust data security measures.

List of the Key Players Profiled in the Report Includes:

• Adobe

• Meltwater

• Brand24 Global, Inc

• Brandwatch (Cision US Inc.)

• GoodData Corporation

• Hootsuite Inc.

• IBM Corporation

• Digimind

• NetBase Quid, Inc.

• Oracle

• Qualtrics

• Salesforce, Inc.

• Sprinklr

Arjun Jain
Diligence Insights
+91 76589 88058
[email protected]
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