In this rapidly changing world of technology, social intelligence market is projected to show major growth prospects during the forecast period. Major factor driving the social intelligence market is the growing adoption of data analytics. Increasing data availability is another major factor fueling the growth of social intelligence market.
The global social intelligence market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World. As compared to other regions, the social intelligence market in North America is expected to witness significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of social intelligence market. This is owing to the presence of large number of established key players like IBM Corporation in that region. 4C, a social intelligence company, has announced a funding of USD 5 Million from Jump Capital whereas, Brandwatch, a U.K. based social intelligence company, is the technology leader in social intelligence. In addition to this, the region also has a well-established infrastructure which allows higher penetration of devices and ultimately provides better connectivity. Increasing demand for social intelligence in retail and e-commerce sectors is expected to be one major factor for driving the growth of social intelligence market.
In the global social intelligence market, Asia Pacific is anticipated to witness relatively faster adoption and is expected to grow at the highest CAGR during the forecast period as compared to other regions. Within Asia Pacific, social intelligence market is projected to contribute faster to the growth of revenue backed by increasing demand for social intelligence from various industry verticals in countries such as Japan, China, South Korea and India. This is owing to the presence of key players like Germin8 in the region.
The social intelligence market is growing rapidly over 26% of CAGR and is expected to reach at approx. USD 13 Billion by the end of forecast period.
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Social Intelligence Market Segmentation
The social intelligence market has been segmented on the basis of component, organization size, deployment, application and vertical. The organization size segment is bifurcated into small and medium enterprises and large enterprises. Out of which, the large enterprises sub segment holds the largest market share of social intelligence market whereas, small and medium enterprises sub segment is expected to grow at a significant rate during the forecast period. This is owing to the increasing need for data analytics in order to improve the overall productivity of the organization.
The prominent players in the social intelligence market are – Brandwatch (U.K.), IBM Corporation (U.S.), Synthesio (U.S.), 4C (U.S.), Frrole, Inc. (U.S.), Salesforce.Com, Inc. (U.S.), Sysomos Inc. (Canada), Talkwalker (U.S.), ARBA Holdings (Hong Kong), Germin8 (India) among others.
Market Research Analysis:
It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific market is projected to grow at the fastest rate during the forecast period. The major growth in social intelligence market in North America is attributed to technological advancements and increasing demand for data analytics in across various industry verticals in that region. Increasing implementation of cloud based business intelligence applications by small and medium enterprises is another major factor responsible for fueling the growth of social intelligence market.
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