The Europe social media analytics market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 15.2% during 2023–2031. The growth of the market is attributed to increasing focus on competitive intelligence. Moreover, rising user engagement on social media is driving the market growth.
Social media analytics is the practice of collecting data from social media websites and analyzing the data using social media analytics tools to make crucial business decisions. The most common use of social media statistics is to create customer sentiment to support marketing and customer activities.
Social media analytics is the process of collecting hidden information from social data - both formal and informal - to allow informed decision-making. It can also analyze online media channels, such as news websites, blogs and forums.
Europe Social Media Analytics Market Trends, Drivers, Restraints, and Opportunities
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Consumer seeking better quality, lower prices, and faster delivery of products and services is one of the major drivers that is contributing to the growth of the market.
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Increasing penetration of advanced analytics is expected to augment the Europe social media analytics market growth.
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Problems in the workflow of analysis can restrain the growth of the market.
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The outbreak of COVID-19 has negatively impacted the Europe social media analytics market. However, the market is anticipated to recover soon.
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Growing adoption of cloud computing is expected to proliferate the growth of the market.
Scope of Europe Social Media Analytics Market Report
The report on the Europe social media analytics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Europe Social Media Analytics Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Components (Monitoring, Measurement, and Analytics and Insights), Mode of Deployment (On-premise and Cloud), End-user Verticals (BFSI, Retail, Healthcare, Government Services, Media and Entertainment, Transportation and Logistics, IT and Telecommunications, and Others)
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geographical scope
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UK, Germany, France, Italy, Spain, and Rest of Europe
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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IBM Corporation, SAS Institute Inc., Clarabridge Inc., Adobe System Incorporated, and Oracle Corporation.
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Europe Social Media Analytics Market Segment Insights
Based on components, the market is divided into monitoring, measurement, and analytics and insight. The analytics and insights segment is anticipated to account for a key market share and is anticipated to grow at a steady rate during the forecast period. Social media analytics is a broad term used to refer to the way mining data comes from social media, to process and present statistically-based insights to businesses, to aid in their decision-making processes. Many election campaigns in Germany relied on social media analytics in the past about public sentiments. Instagram and Twitter posts were tested and analyzed to get feedback.
On mode of deployment, the market is bifurcated into on-premise and cloud. The cloud segment is anticipated to account for a major market share in the projected timeline. Large number of organizations are already using the cloud or planning to do so, which is expected to spur the market segment. Startups or small companies are increasingly adopting cloud solutions, which is driving the growth of the market segment.
In terms of end-user verticals, the market is divided into BFSI, retail, healthcare, government services, media and entertainment, transportation and logistics, IT and telecommunications, and others. The media and entertainment segment is anticipated to dominate the market. Social media is one of prominent categories of the media and entertainment industry in Europe.
Social media platforms have become a sensible way to expose products and content. Social media analytics are used by streaming services, such as Netflix, Amazon Prime, and CBS, to collect the data and provide similar recommendations to customers.
On the basis of regions, the market is segregated into UK, Germany, France, Italy, Spain, and Rest of Europe. Germany is anticipated to account for a considerable market share during the forecast period. According to a survey, 87% of Internet-users claimed ussing WhatsApp as a social media. YouTube came second with a 69% respondent share, followed by Facebook with 63%. Tumblr was the least-used platform, with only 3% of those surveyed stating they used the network.
Segments
The europe social media analytics have been segmented on the basis of
Components
- Monitoring
- Measurement
- Analytics
- Insight
Mode of Deployment
End-user Verticals
- BFSI
- Retail
- Healthcare
- Government Services
- Media and Entertainment
- Transportation and Logistics
- IT
- Telecommunications
Geography
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
Key Players
Competitive Landscape
The major players of the market are IBM Corporation, SAS Institute Inc., Clarabridge Inc., Adobe System Incorporated, and Oracle Corporation.
Companies are investing in various innovations whereas also focusing on joint ventures and acquisitions to expand their market share.
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