Social media analytics can be broadly defined as the collection of actionable or meaningful insights from social media platforms to support business growth. The rising importance of social media platforms can be expected to drive the social media analytics market during the forecast period. Businesses are rapidly embracing sophisticated business intelligence gathering technologies to support their business initiatives and to gain a competitive advantage. Social media analytic solutions have, thus, become a key enabler toward developing a robust marketing campaign. The growing emphasis of organizations on promoting products on social media platforms has become a major driving factor for the market.
Oracle Corporation, IBM Corporation, Qualtrics International Inc., Salesforce.com, Inc. and Zoho Corporation Pvt. Ltd.– Prominent Market Participants in the Social Media Analytics Market
The number of social media users has been growing exponentially over the past few years, due to which these platforms have also been gaining importance for most industry verticals. The growing penetration of smartphones and the decreasing prices of internet subscriptions have made access to these platforms much easier. It has been promoting the usage of social media platforms among people of developed and developing nations alike. Such exponential growth in active users has also led to an increasing amount of data being generated. Differentiated data from so many users and different geographic regions can provide remarkable insights for any enterprise. Social media solutions and service providers aid businesses gather such data easily, analyzing them, and deriving meaningful insights to aid business decisions. Advancements in artificial intelligence technology and high penetration of mobility can be expected to accelerate the market’s growth in the coming years. Social media analytic solutions and services offer great scope for SMEs to grow and realize business goals. Analytics spending among SMEs is predicted to significantly increase, depicting that SMEs are under constant pressure to expand by implementing innovative and enhanced analytic services. Such advantages, coupled with exponential growth in data generated from social media platforms, collectively drive the global growth of the social media analytics market size.
Oracle Corporation, IBM Corporation, Qualtrics International Inc., Salesforce.com, Inc. and Zoho Corporation Pvt. Ltd are some of the key market players operating in the global managed network services market. The listing of key players is derived by considering multiple factors such as overall revenue, current managed network services product portfolio, geographical reach, new product launches, market initiatives, and investment in technology up-gradation, partnerships, and other market-related activities. In addition to these players, there are several other important players operating in the managed network services ecosystem, which were analyzed during the course of this market research study, such as Accenture; Fujitsu Limited; Huawei Technologies Co., Ltd.; NTT Limited; and Tata Consultancy Services Limited.
Most of the market initiatives were observed in APAC and North America region, which have a high potential of market-related products, solutions, and services. Few of the important market initiatives from the industry are mentioned below:
| Year | Development | Region |
| 2022 | Salesforce introduced Customer 360 innovations, connected data and automation capacities | North America |
| 2022 | Oracle Corporation announced that it had acquired a majority of Cerner Corporation’s outstanding shares and that all of the tender offer’s additional criteria had been met or waived. | APAC |
| 2020 | Zoho announced a strategic alliance with Tata Consultancy Services (TCS) to provide superior Customer Relationship Management, IT Service Management and e-Commerce solutions to solve problems for large businesses. | APAC |
