Social media has become an essential part of people. Governments, businesses and consultants depend entirely on social media for enhancing the customer experience. They interact with the consumers to promote their policies and products as well as facilitate different business transactions. These interactions leave traces of data, which can be analyzed to provide better services to customers as well as get preferences for particular products and services.
In the earlier days, brands participated or interacted with their customers online actively but totally ignored the information that resulted from the same. Now, most of the brands are capitalizing on the benefits of the social media data received by tracking the user behavior and interaction online.
The social media analytics can monitor user behavior on many intricate levels apart from simply analyzing the number of likes, shares or comments on the brand's social media pages. There are tools, now available, that can provide summaries of the same and more.
Social media analytics is a technique used to analyze such traces of data to generate insights for social and business uses. Social media analytics market is still on the path of becoming one of the most important measurement tools to run a business or execute any brand campaign. Many enterprises are yet to discover its true potential. With huge chunk of social media content exploding every second, social media analytics may become one of the most important tools for companies to make strategies and implement short term plans.
Some of the major vendors of social media analytics solutions present in the market are IBM, SAS, Oracle, Salesforce and Adobe.
Adopting different analytical solutions and the penetration of social media are the major factors contributing to its growth. Penetration of smartphones is also one of the factors that is driving the market as most of the people are now increasingly accessing social media content on the devices.
Lack of awareness of the various capabilities of the social media analytics tools and the unstructured nature of the data generated by conducting social media analytics are the biggest challenges of the social media analytics market. One must know what data to analyze in order to get favorable to the growth of the brands or businesses. Accessing few online user details could also be an issue given the various security concerns of the social media users. The authenticity of the data obtained could also be questioned and could not be relied upon entirely.
WHAT THE REPORT OFFERS
North America social media analytics market overview and in-depth market analysis with its applications in the industry and information on drivers and restraints.
Identification of factors responsible for changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
Extensively researched competitive landscape with profiles of major companies along with their market share.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
1.1 Study Deliverables
1.2 Market Definition
1.3 Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Econometric Forecast Model
2.4 Research Assumptions
3. Executive Summary
4. Market Dynamics
4.2 Market Drivers
4.2.1 Exponential growth in number of social media users
4.2.2 Growing focus on customer satisfaction
4.2.3 Increasing Adoption of Analytics Solutions
4.3 Market Restraints
4.3.1 Growing volumes of Unstructured data
4.3.2 Complex social media workflow analytics and Lack of Awareness
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's five forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining power of Buyers/consumers
4.5.3 Bargaining power of suppliers
4.5.4 Threat substitute products and services
4.5.5 Intensity of competitive rivalry
5. North America Social media Analytics Market - Segmentation by components
5.1 Social Media Monitoring
5.2 Social Media Analytics - Measurement
5.3 Analytics & Insights
6. North America Social media Analytics Market - Segmentation by mode of deployment
6.1 On-demand deployment model
6.2 On-premise deployment model
7. North America Social Media Analytics Market - Segmented by End-user Industry
7.1 Banking & Financial services
7.2 IT & Telecommunications
7.4 Life sciences
7.5 Government Services
7.6 Media & Entertainment
7.8 Transportation & Logistics
8. North America Social Media Analytics Market - Segmented by Region
8.2 United States
9. Competitive Landscape- Vendor Market Share
10. Key Vendor Profiles
10.4 Clarabridge Inc.
10.6 Crimson Hexagon Inc.
10.7 Adobe Systems incorporated
10.8 Oracle Corporation
10.10 Simply Measured
10.11 Netbase solutions, Inc.
10.12 SAP SE
11. Future Trends in North America social media Analytics Market