The North America social media analytics market in is expected to grow from US$ 2,811.62 million in 2022 to US$ 9,100.81 million by 2028; it is estimated to grow at a CAGR of 21.6% from 2022 to 2028.

Increasing Demand for Business Intelligence (BI)

Businesses are experiencing heightened competition, driven by factors such as globalization, the accelerating embrace of Industry 4.0, an uptick in promotional activities, rising brand recognition, and consumers becoming more price-sensitive. To secure a competitive advantage, many enterprises are delving into novel avenues for gaining intelligence on their competitors. Business intelligence (BI) employs diverse solutions and services to convert gathered data into actionable insights.

Traditional BI was often limited to competitor identification and data collection, but it frequently fell short in structuring, analyzing, and providing meaningful insights from multivariate data. Fortunately, social media analytics (SMA) solutions and services can now deliver a broad spectrum of BI information. SMA can aid in identifying competitors, understanding their social media platform utilization, deciphering their strategies, comparing one's own social results with competitors, and pinpointing weaknesses or threats in social strategy.

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Market Overview

The North American social media analytics market includes the US, Canada, and Mexico. This region is considered technologically advanced, largely due to its proactive adoption of new technologies, substantial government investment in innovation, and robust economic growth. A number of influential social media platforms originated here, with sites like Facebook and Twitter commanding the largest user numbers in this region.

The surge in social media usage on smartphones significantly enhanced its accessibility. Businesses in the region quickly recognized this enormous market of social media users and are now actively using this medium to target their products. Social media analytics has played a crucial role in helping companies accurately identify their target audience. As social media continues to expand, the demand for social media analytics solutions across the North American region will undoubtedly grow.

North America Social Media Analytics Market

North America Social Media Analytics Market By Component

Solutions and Services

North America Social Media Analytics Market By Application

Customer Experience Management

Competitive Intelligence

Sales & Marketing Management

North America Social Media Analytics Market By Deployment

Cloud and On-Premise

North America Social Media Analytics Market By Organization Size

Large Enterprises and SMEs

North America Social Media Analytics Market By Vertical

BFSI

IT & Telecommunication

Media & Entertainment

Retail & e-Commerce

North America Social Media Analytics Market Regions and Countries Covered   

North America

US

Canada

Mexico

North America Social Media Analytics Market leaders and key company profiles

Cision Ltd.

Hootsuite Inc.

IBM Corporation

Meltwater N.V.

Oracle Corporation

Qualtrics International Inc.

Salesforce, Inc.

Sprout Social, Inc.

Talkwalker S.a.r.l

Zoho Corporation Pvt. Ltd.

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