Press release
Social media analytics (SMA) Market Driven by Increasing focus on attaining competitive intelligence by the enterprise
Social media analytics
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Increasing focus on attaining competitive intelligence by the enterprise is one of major driving factor for growth of the market.
The dynamic fluctuations in economic variables such as consumer sentiment, strong economic growth, increasing disposable income, and others are encouraging the enterprises to adopt competitive intelligence assessment to gain a strong foothold in the market. Large amount of user-generated content is available on social media sites, which can be accessed easily.
The retail and e-commerce sectors together accounted for highest market share and are expected to continue their dominance during the forecast period. In the present scenario, various industry verticals are going through a digital transformation to revolutionize their processes and improve customer reach. For instance, mobile e-commerce is rapidly rising in terms of popularity and serving as one of the most convenient alternative to conventional stores.
Social Media Analytics Market: Regional Insights
The U.S. held the dominant position in the market in 2017 and is expected to maintain the dominance throughout the analysis period, owing to factors such as dominance of digitalization and presence of leading companies in numerous verticals including IT & telecom, healthcare, automotive, electronics, and others in the region.
Social Media Analytics Market: Competitive Background
Major players operating in social media analytics market include International Business Machines (IBM) Corporation, Oracle Corporation, Salesforce.com, Adobe Systems Incorporated, SAS Inc., Clarabridge, Inc., Netbase Solutions, Inc. (US), Brandwatch (UK), GoodData Corporation, Crimson Hexagon, Inc., Simply Measured, Inc., and Sysomos.
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Social Media Analytics Market: Taxonomy
By Application
• Sales and Marketing Management
• Customer Experience Management
• Competitive Intelligence
• Risk management and Fraud detection
• Public safety and Law enforcement
• Others
By Analytical Type
• Predictive Analytical
• Prescriptive Analytical
• Diagnostic Analytical
• Descriptive Analytical
By Industry Verticals
• Banking, Financial Services, and Insurance (BFSI)
• Telecommunications and IT
• Retail and Ecommerce
• Healthcare and Life Sciences
• Manufacturing
• Government and Defense
• Energy and Utilities
• Media and Entertainment
• Travel and Hospitality
• Transportation and Logistics
• Others
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