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NEW YORK, Feb. 25, 2022 /PRNewswire/ — The social media analytics market in MEA is set to grow by USD 613.37 million between 2021 and 2026, progressing at a CAGR of 24.28% during the forecast period. The report provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
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The market is driven by the growing availability and complexity of data. The rising adoption of smart devices and the internet has resulted in an increase in the volume of data. Data formats such as customer reviews, feedback, and social posts are not well structured. The analysis of such data is both tedious and complicated even for a simple computer program. Thus, enterprises are adopting smart techniques using the latest technologies such as machine learning and artificial intelligence to capture huge amounts of data in a convenient way and improve their services and business operations. This has increased the scope for social media analytics, which is driving the growth of the market.
In addition, the rising penetration of smartphones and the increasing number of social media users in the MEA will further accelerate the growth of the market. However, the shortage of skilled professionals and the lack of awareness of the various capabilities of the social media analytics tools might reduce the growth potential in the market.
The social media analytics market in MEA analysis includes end-user and application segments and geographic landscape. By end-users, the retail segment will have the largest share of the market. The segment is driven by the increasing use of social media channels by enterprises to create brand awareness, connect with target audiences, and create product buzz. The market growth in the segment will be significant during the forecast period.
Similarly, by application, the customer benchmarking segment will occupy the largest share of the market. Benchmarking is widely adopted by enterprises to compare business processes and key performance indicators with industry best practices and other company’s best practices. This is one of the major factors driving the growth of the segment.
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. The social media analytics market in MEA covers the following areas:
- Social Media Analytics Market Sizing
- Social Media Analytics Market Forecast
- Social Media Analytics Market Analysis
Companies Mentioned
- Adobe Inc.: The company offers social media analytics namely Adobe Analytics.
- Audiense Ltd.: The company offers social media analytics platform to identify relevant audiences, discover actionable insights to grow business.
- GoodData Corp.: The company offers social media analytics through the Composable data and analytics platform.
- International Business Machines Corp.: The company offers social media analytics namely Watson Analytics for product development, competitive analysis, and operational efficiency.
- NetBase Solutions Inc: The company offers social media analytics for social metrics, sentimental analysis, audience analysis, and competitive analysis.
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Social Media Analytics Market In MEA Scope |
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Full story available on Benzinga.com
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