Social media analytics is in-depth study of an individual’s personal information from social Media. It helps in tracking the trend and behavior of consumers accessing the e-commerce website.Social media analytics is utilized by various social websites such as Facebook, twitter, instagram and snapchat. Additionally, Social media analytics is used to regularly monitor the social websites to track the trends of the consumer buying pattern.
Social media analytics is new source of data book that is used by various industries to witness the market trend and demand of people for various products. Social media analytics is used by various marketing companies to analyze the competition amongst the key players of that particular market.Social media analytics is used by the national politics parties of countries at the time of elections to notice the drawback and advantage for political parties.Various fantasy applications in social networking websites for fun and entertainment of users trace out the additional personal information’s is used to sell it to various marketing companies.
The global social media analytics market is expected to reach USD 3.7 billion in 2017 to USD 19 billion in 2027 with a significant CAGR of 28% till the period of 2018-2027.Rise in demand for online shopping and marketing from various marketing companies for advertisement and selling of products in North America and Asia Pacific is anticipated for the significant growth of social media analytics market in forecasted period.
On the basis of regional platform, global social media analytics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.North America is expected to hold the largest share backed by increase users on social networking sites, which strictly depends on online shopping and marketing for purchasing or selling the products till forecast period.
Asia Pacific is panned to observe substantial growth in social media analytics market on the rise of increased e-commerce business that helps to gather informative data regarding customer’s interest and trend. Additionally, increased social media users in social networking sites such as Facebook, twitter and instagram in countries such as China and India is exhibiting for the growth of market. Moreover, Europe is also expected to raise the social media analytics market with increased demand for online products with e-commerce sites.
Demand in countries such as Saudi Arabia, UAE and South Africa is expected to showcase significant growth in global social media analytics market backed by increasing retailer’s interest on targeting customer’s trends and behavior of the purchasing pattern. CLICK TO DOWNLOAD FREE SAMPLE REPORT
Our-in depth analysis of the global social media analytics market includes the following segments:
Global Social media analytics market is further classified on the basis of region as follows:
According to “World Bank” report in 2018, China witness a record of USD 105 billion sale in Ecommerce business with average of USD 848 every year.
Increase in e-commerce trend led the retailers to gather enough information’s regarding customer’s interest, demand and change in products is driving the growth of market.
Social media analytics helps the marketing companies to reach the targeted audience for marketing or advertising the products information on various website.
Increased use of social networking by different age groups in North America and Asia Pacific region is positively supporting the growth of social media analytic market in future.
One of the key restraints which is expected to hamper the growth of market is advertisement on social media, which is ignored by few users due to increasing online frauds.
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