Market Research Future has released several important market figures in its report on the global social intelligence market which is expected to grow at an exuberant CAGR of 26% over the assessment period of 2017 to 2023 and reach an estimated evaluation of USD 13 Bn by the end of 2023. The exponential increase in data via extensive global use of social media has increased the demand for social intelligence with market giants paving the way for the social intelligence market.
The demand for data analytics has increased significantly and industry verticals such as retail, e-commerce, IT & telecommunication, and BFSI among others are driving the demand for social intelligence. Increasing use of social media and the trend of social networking combined with posting of personal information, among other things have led to an increased adoption of social intelligence in banking, finance and human resources, which is expected to lead to significant market growth over the assessment period. These above mentioned sectors use social intelligence to gather valuable consumer data in an effort to offer tailored services and in some sectors social intelligence is used for background checks to ensure the customer has provided accurate details. Abundant opportunities exist for the market due to the ever increasing adoption of social media platforms in emerging economies.
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The global social intelligence market is segmented on the basis of component, organization size, deployment, application and verticals. By component, the market is segmented into services, software, professional services and managed services.
By organization size, the market is divided between SMEs and large enterprises.
By deployment, the market is divided between on premise and cloud. Cloud-based deployment holds the largest share of the market due to its affordability and ease of availability.
By application, the market is segmented into customer services, social media research, recruitment, product analysis & product development, sales & marketing, campaign analysis, and others.
By vertical, the market is categorized into government & defense, healthcare, BFSI, education, IT & telecommunications, retail & e-commerce, transportation & logistics, and others. The education segment is expected to witness considerable growth over the assessment period.
Globally, the market is divided into North America, Europe, Asia Pacific and the Rest of the World.
Eminent players in the global Social Intelligence Market include ARBA Holdings, Germin8, Sysomos Inc., Talkwalker, Salesforce.com, IBM Corporation, Brandwatch, Synthesio, 4c, Frrole Inc., and several others.
North America has been observed to have the largest share of the global market due to the rapid adoption of technological advancements, the concentration of leading market players and the increasing demand that social intelligence is experiencing in this region. The U.S leads market growth for North America.
Meanwhile, the presence of a truly massive population in the Asia Pacific as set it on the track to experiencing the fastest growth over the assessment period. The region has a high adoption of social media, and there is a growing demand for advanced analytics in order to better serve the consumer population present.
Latest Industry News
OPENonline has partnered with Social Intelligence, to add a regulation compliant social media background check to their extensive services. The move comes after the Society for Human Resource Management shared that 76% of companies intend to recruit via social media sites.
LIST OF TABLES
TABLE 1 SOCIAL INTELLIGENCE MARKET, BY COMPONENT
TABLE 2 SOCIAL INTELLIGENCE MARKET, BY ORGANIZATION SIZE
TABLE 3 SOCIAL INTELLIGENCE MARKET, BY DEPLOYMENT
TABLE 4 SOCIAL INTELLIGENCE MARKET, BY APPLICATION
TABLE 5 SOCIAL INTELLIGENCE MARKET, BY VERTICAL
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LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 SOCIAL INTELLIGENCE MARKET, BY COMPONENT (%)
FIGURE 3 SOCIAL INTELLIGENCE MARKET, BY ORGANIZATION SIZE (%)
FIGURE 4 SOCIAL INTELLIGENCE MARKET, BY DEPLOYMENT (%)
FIGURE 5 SOCIAL INTELLIGENCE MARKET, BY APPLICATION (%)
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