At 14% CAGR, Global Social Media Analytics Market Share Surpass US$ 10.2 Bn By 2030, Forecast & Analysis Report By CMI

According to the study, The?Global Social Media Analytics Market?was estimated at USD 96.2 Billion in 2021 and is anticipated to reach around USD 10.2 Billion by 2030, growing at a CAGR of roughly 14% between 2022 and 2030.

?Overview

The process of gathering and analyzing audience data shared on social media networks in order to improve an organization’s strategic business decisions is known as Social Media Analytics. Social media can help businesses by allowing marketers to identify consumer behavior trends that are relevant to a company’s industry and determine marketing efforts’ success.

?Growth Drivers

The surging number of social media users is propelling the Social Media Analytics market and is anticipated to do so throughout 2022-2030. This allows Social Media Analytics companies to collect better customer data and conduct more in-depth customer behavioral analyses. The use of smartphones, laptops and personal computers with internet access has grown with time. This had a notable impact on social media platforms. People have started using social media for communication, online shopping, and other social connectivity activities as digital technologies have advanced. These have encouraged businesses to enforce Social Media Analytics solutions in order to better understand their client requirements and desires, as well as the viability of their products.

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