A recently released new research by Market Research Future predicts that the global Social Intelligence Market size will be fueling up during the forecast period 2017-2023, at 26% CAGR, and would gain a valuation of $13 Billion by 2023.
Sysomos Inc., Salesforce.com, Germin8, ARBA Holdings, IBM Corporation, Brandwatch, 4c, Frrole Inc., Talkwalker, and Synthesio are the eminent market players that are identified by MRFR in the global Social Intelligence Market study.
Key Market Trends
The social intelligence report has focused on many vital trends and thus analyzed that the prime factor driving the social intelligence agency market is the rising utilization of social media networking. In this reference, major giants like IBM Corporation has been one of the key players in the Social Intelligence Market as they have increased the demand for social intelligence from various industry verticals like retail, e-commerce, IT and telecommunication and BFSI among others.
At the same time, the retail and e-commerce industry might also occupy the largest market share of the Social Intelligence Market in support of the growing popularity of e-commerce websites as well as rising trend of online shopping. In a case of point, Brandwatch is the technology leader in the Social Intelligence Market that could lead the Social Intelligence Market mainly in the Asia Pacific region.
On the other hand, the mounting adoption of social media networking has also primarily led to increasing availability of data which has resulted into rising need for data analytics. Such a factor has outcome to be the major factor fueling the growth of Social Intelligence Market. The study has also revealed that social intelligence is gaining importance due to the mounting adoption in banking, finance and human resource services with the growing popularity of social media networking.
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As per the study, the global Social Intelligence Market has been segmented among the elements of component, organization size, deployment, application and vertical.
The vertical segment is segmented among BFSI, healthcare, education, retail & ecommerce, IT & telecommunication, transportation & logistics, government & defense. Among which, the education sub segment might witness significant growth during the assessment period.
In terms of deployment: On premise and cloud are the segments. Among these, the cloud-based deployment records to become the leading share of the market due to its affordability and ease of availability.
In terms of application: Social media research, customer services, recruitment, sales & marketing, product analysis & product development, campaign analysis are the segments.
In terms of vertical: Healthcare, government & defense, BFSI, education, retail & e-commerce, IT & telecommunications, transportation & logistics are the segments. Among the, the education segment is poised to display a prominent growth graph over the review period.
Geographically, the global Social Intelligence Market is studied among the key regions of Asia Pacific, Europe, North America, and the Rest of the World.
Among these regions, the region of North America occupies the largest market share of global Social Intelligence Market, as it is mainly led by the U.S. and Canada. The growth in these countries is attributed to the rising demand from the connecting social media networks. The region also has a well-established infrastructure which consents implementation of advanced technologies. With this, the rising adoption of new and emerging technologies along with mounting emergence of many social media analytics vendors are the another major factors driving the growth of Social Intelligence Market.
Additionally, the Asia Pacific region is also self-assured to register the fastest growth over the review period. The makers of the growth are the presence of a massive population in the Asia Pacific that have set the region on the track to experience the fastest growth over the growth period. With this, the region has also witnessed a higher adoption of social media, and rising demand for advanced analytics to serve the consumer population in a better way.