Global Social Media Analytics Market to Reach USD 11.89 Bn by 2023, Predicts Stratistics MRC in Its New Report Recently Added at MarketPublishers.com
13 Oct 2017 • by Natalie Aster
LONDON – In the past year, the world’s social media analytics market stood at the value of around USD 2.35 billion. It is projected to exhibit unbelievable growth, registering a 26% CAGR, during 2017-2023 to reach USD 11.89 billion.
The key factors fueling growth in the social media analytics market comprise expanding adoption of cloud solutions, rising demand for social media measurement to enhance customers’ experience and also elevating user engagement of social media via smartphones, amid other favourable factors. Moreover, enhancing focus on engaging existing customers and also attracting new ones will also add to the social media analytics market growth in the foreseeable future.
However, some factors could hamper the social media analytics market growth, for example, lack of awareness of this technology across certain countries and complexities in analytical workflow.
Amid various end-use applications, retail and e-commerce industries are expected to see sustained growth in adoption of social media analytics in the coming years, as it is an efficient marketing tool that helps retailers to study and analyse sales at different stages.
Presently, North America grabs the biggest share of the world’s social media analytics market owing to constantly increasing usage of this technology in the region along with a large target audience pool.
New research report “Social Media Analytics - Global Market Outlook (2017-2023)” prepared by Stratistics Market Research Consulting (Stratistics MRC) offers a detailed guide to the market structure, landscape and dynamics; it covers the market performance at different geographical levels and provides a comprehensive analysis of the key market segments. Besides, this research study gives a close look at the competitive landscape, examines the main factors hampering and driving growth in the market, profiles the most prominent companies engaged in the industry and also sheds light on top prevailing trends. Moreover, this report covers the most recent industry developments, outlines future growth threats and opportunities, and provides an all-round future outlook for the social media analytics market with forecasts up to 2023.
For many other new research reports by this company follow Stratistics MRC page at MarketPublishers.com.