Asia Pacific Social Media Analytics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component [Solutions and Services (Professional Services and Managed Services)], Application (Customer Experience Management, Competitive Intelligence

Asia Pacific Social Media Analytics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component [Solutions and Services (Professional Services and Managed Services)], Application (Customer Experience Management, Competitive Intelligence, Sales & Marketing Management, and Others), Deployment (Cloud and On-Premise), Organization Size (Large Enterprises and SMEs), and Vertical (BFSI, IT & Telecommunication, Media & Entertainment, Retail & e-Commerce, and Others)

The social media analytics market in Asia Pacific is expected to grow from US$ 2,222.20 million in 2022 to US$ 7,428.43 million by 2028; it is estimated to grow at a CAGR of 22.3% from 2022 to 2028.

Growing Integration of AI in Social Media Analytics

Artificial Intelligence (AI) has been gaining prominence across different fields in Asia Pacific. Social media analytic solutions have also been integrating AI for gathering data faster and extracting meaningful insights with higher accuracy. AI combines social media listening tools to analyze several million conversations and identify patterns from the same. It can also be combined with sentiment analysis, in which natural language processing (NLP) and computational linguistics are utilized to decipher the various comments on social media to gain insights. A combination of AI, social media listening, and sentiment analysis can be used for competition analysis, brand monitoring, customizing ad campaign, trend detection, predicting consumer purchasing behavior, uncovering viral topics, and performing social media crisis management, among others. AI can also aid in developing intelligent chatbots and facial recognition for better engagement with a consumer and deliver activity-based customizations. Integrating AI into social media analytic solutions is still relatively nascent and can be expected to be a major factor when a business chooses a social media analytics vendor in the near future. Most social media analytics solution providers are expected to integrate AI into their solutions, as the social media platforms have already been doing. Machine learning (ML) and NLP are also expected to play major roles in developing AI-based social media analytic solutions. For instance, Synthesio, Inc. has been combining AI into its social listening platform to provide better customer insights. The company’s Automated Sentiment Analysis, a proprietary ML technology, Signals, the company’s AI-powered insights & trends detector, and social listening platform, has been aiding its customers in accelerating and improving content creation, better audience segmentation, and managing online reputation.

Market Overview

Asia Pacific social media analytics market is sub-segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. Swift developments in technologies, initiatives from governments to enhance various industries, and a rise in disposable income of the middle-income class group are among the factors propelling the overall economic growth in the region. The region comprises various growing economies witnessing high growth in digitalization in several industries. With the constant growth in the e-commerce industry across the region—owing to the rise in foreign investments enhanced internet access, and a favorable regulatory environment—online sales are predicted to grow. The countries present in the Asia Pacific region are booming as a digital economy. Its exciting e-commerce space makes it a good place to create huge opportunities for new business expansion. Additionally, increasing volumes of data must be managed and analyzed appropriately to develop the understanding and make the necessary predictions or analysis. When China banned Facebook and Twitter, they had another social networking site called Sina Weibo, a combination of Facebook and Twitter, which is one of the most popular sites in China. The number of daily Weibo’s users is more than 61 million. India has more than 100 million Facebook users, making it the second largest market in the world; LinkedIn, too, is the second largest market, and Twitter is the third-largest market in terms of the user base. Recognizing these large numbers of active social media users, the companies have begun using social media analytics to place themselves to sell their products or advertise them.

Asia Pacific social media analytics Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Social Media Analytics Market Segmentation

The Asia Pacific social media analytics market is segmented based on component, application, deployment, organization size, vertical, and country.

Based on component, the market is bifurcated into solutions and services. The solutions segment held a larger market share in 2022. Further the component is bifurcated into professional services and managed services. Based on application, the market is bifurcated into customer experience management, competitive intelligence, sales & marketing management, and others. The competitive intelligence segment held the largest market share in 2022. Based on deployment, the market is bifurcated into cloud and on-premise. The cloud segment held a larger market share in 2022. Based on organization size, the market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger market share in 2022. Based on vertical, the market is segmented into BFSI, IT & telecommunication, media & entertainment, retail & e-commerce, and others. The retail & e-commerce segment held the largest market share in 2022. Based on country, the market is segmented into the China, Australia, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the market share in 2022. Cision Ltd.; Hootsuite Inc.; IBM Corporation; Meltwater N.V.; Oracle Corporation; Qualtrics International Inc.; Salesforce, Inc.; Sprout Social, Inc.; Talkwalker S.a.r.l; and Zoho Corporation Pvt. Ltd. are the leading companies operating in the Asia Pacific social media analytics market.

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