Key Market Players in the Social Media Analytics Market and Its Opportunities for growth

Posted on 2019-10-21 by MarketsandMarkets in Technology // 0 Comments

The global Social Media Analytics Market size is expected to grow from USD 2.71 billion in 2017 to USD 9.54 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 28.6% during the forecast period, as per a report by MarketsandMarkets.

The key forces driving the social media analytics market growth include the increasing focus on the market and competitive intelligence, increasing user engagement on social media platforms using smartphones, and growing need for social media measurement to enhance the customer experience.

How increasing cloud adoption trends are an opportunity?

Cloud adoption is said to have increased in the recent times because vendors are making use of Software-as-a-Service (SaaS) to deliver cloud computing solutions. Business users are always on the lookout to ensure that they are providing the most effective yet economical solutions. Cloud makes it possible to perform cloud computing, which provides the ability to outsource the operational IT work to another company. The cloud service providers take all the risks and burdens associated with it. As per the industry experts and cloud vendors, cloud computing is expected to grow at an even higher rate during the upcoming years, owing to its range of features, such as flexibility, reliability, scalability, and low costs. SaaS, Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS) are all provided in the cloud deployment model.

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Key Market Players for Social Media Analytics Market

The social media analytics ecosystem comprises vendors, including International Business Machines Corporation (US), Oracle Corporation (US), Salesforce (US), Adobe Systems Incorporated (US), SAS Institute Inc. (US), Clarabridge, Inc. (US), Netbase Solutions, Inc. (US), Brandwatch (UK), Talkwalker Inc. (Luxembourg), GoodData Corporation (US), Crimson Hexagon, Inc. (US), Simply Measured, Inc. (US), Sysomos (Canada), Digimind (US), Unmetric Inc. (US), Cision US Inc. (US), Simplify360, Inc. (India), Hootsuite Media Inc. (Canada), Meltwater (US), Germinait Solutions Private Limited (India), Socialbakers (US), Spredfast, Inc. (US), Sprinkler, Inc. (US), Lithium Technologies, Inc. (US), Synthesio (US), and Tableau Software Inc. (US).

The players in the social media analytics market have adopted various strategies to expand their global presence and enhance their market shares. Partnerships, collaborations, new product launches, and acquisitions are some of the significant strategies adopted by the players in the recent years. Players such as IBM Corporation, Oracle Corporation, and Salesforce have adopted these strategies to expand their product portfolios.

Salesforce has undertaken partnerships and collaborations as its major development strategies to create a leading market edge. It provides solutions dealing with social media security and compliance issues, which provide new client opportunities, by enabling them to make real-time decision-making.

Oracle Corporation is another major provider of social media analytics software and services. The company has adopted organic and inorganic growth strategies to establish a strong foothold in the market.

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