Social Media Analytics MarketThe Social Media Analytics market was valued at 3,600 million in 2020 and is projected to grow at a CAGR of 34.1% during the forecast period (2021-2028).    The factors driving the growth of Social Media Analytics Market includes the increasing demand for business intelligence tools, increasing number of smartphones, growing focus by businesses on collecting customer feedback and proliferation of social media networks. As per the report published by Bloomberg, the Social Media Advertising Market is anticipated to reach 2.62 Billion by 2028, growing at a CAGR of 12.4% during the forecast period (2021-2028), due to increased internet traffic, which will further boost the Global Social Media Analytics Market. Moreover, the increasing application of Social Media Analytics software by end use Industries such as media & entertainment, manufacturing and e-commerce and rising number of active social media users across the world, are some of the additional factors augmenting the Social Media Analytics Market Size. According to Statista, as of April 2022, around 4.65 billion users worldwide were active on Social Media platforms.The growth of Social Media Analytics Market is hindered due to inadequate standard measures and complexities in analytical workflow.Some of the prominent players operating in the market are NetBase Quid, Oracle, Salesforce.com, inc., Brandwatch, Talkwalker Inc., IBM Corporation, SAS Institute Inc., Adobe, Digimind and Clarabridge among others.Deployment Model – Segment AnalysisBased on the Deployment Model, the Cloud segment is projected to grow at a significant CAGR over the forecast period because it offers enhanced storage capacity, flexibility, enhanced performance, and cost efficiency to its usersApplication – Segment AnalysisBased on application, the Risk Management and Fraud Detection segment is estimated to capture a sizeable market share during the forecast period due to its ability to reduce fraudulent activities.On the other hand, the Sales and Marketing management segment will dominate the market during the forecast period due to increasing application of analytical tools for developing sizeable customer base across the world.Regional – Segment Analysis:Based on region, the North American region is projected to lead the market during the forecast period. The increasing technological innovations in analytical tools, rapid digitalization, rising internet proliferation and increasing application of social media Analytical tools in various end-use industries, are some of the key factors propelling the market growth in North America.  Market SegmentationGlobal Social Media Analytics Market by ComponentSoftwareServicesProfessional ServicesConsultingTraining & EducationManaged ServicesGlobal Social Media Analytics Market by Deployment ModelOn-premisesCloudGlobal Social Media Analytics Market by Organization SizeLarge EnterprisesSmall and Medium-sized Enterprises (SMEs)Global Social Media Analytics Market by ApplicationSales and Marketing ManagementCustomer Experience ManagementCompetitive IntelligenceRisk Management and Fraud DetectionPublic Safety and Law EnforcementOthersGlobal Social Media Analytics Market by VerticalBFSITelecommunications and Information Technology (IT)Retail and eCommerceHealthcare and Life SciencesMedia and EntertainmentGovernment and DefenseTravel and HospitalityOthersGlobal Social Media Analytics Market by RegionAsia PacificChinaJapanIndiaRest of APACNorth AmericaUnited States of AmericaCanadaEuropeUnited KingdomGermanyFranceSpainRest of EuropeRoWBrazilSouth AfricaSaudi ArabiaUAEAbout GMI ResearchGMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.Media ContactCompany Name: GMI RESEARCHContact Person: Sarah NashEmail: [email protected]: Europe – +353 1 442 8820; US – +1 860 881 2270Address: Dublin, IrelandWebsite: www.gmiresearch.com