Social Media Analytics Market by Major Players, Volume, Development, Opportunities, Market Dynamic


The social media analytics market was studied by Market Research Future (MRFR) analysts and their prediction suggests a surpassing of USD 7 billion by 2023 with a CAGR of 28% during the forecast period covering 2018 to 2023. Major factors to impact the market are the growing demand for understanding consumer tactics, surveillance, promoting campaigns, knowledge of trends, creating awareness, and others. Increasing spending on market intelligence and a growing number of social media users are expected to bolster the changes in the social media analytics market.

Regional Analysis:

Growing digitization, structural advantages, investment in the sector to create a solid premise, better technological know-how, and others are expected to support the North American and European markets for social media analytics. 

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Industry News:

In September 2020, the Government Communication Service or GCS, a government-wide professional body that gets operated by the Cabinet Office, has announced a budget of around $1.8m for social media monitoring and analysis on a contractual basis for a year. The agency is looking for a company that would be capable of performing analytics on social media content and discussions happening in several languages.

The deal is expected to shed light on the impact and efficacy of existing government information campaigns and help in forming strategies for future movements. It will help the government to reach out to people who are quite influential on social media and whose voices can be used for the future charting of various courses. 

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