The Europe social media analytics market size is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to increasing focus on competitive intelligence. Moreover, rising user engagement on social media is driving the market growth.

Social media analytics is the practice of collecting data from social media websites and analyzing the data using social media analytics tools to make crucial business decisions. The most common use of social media statistics is to create customer sentiment to support marketing and customer activities.

Social media analytics is the process of collecting hidden information from social data - both formal and informal - to allow informed decision-making. It can also analyze online media channels, such as news websites, blogs and forums.

Market Trends, Drivers, Restraints, and Opportunities:
• Consumer seeking better quality, lower prices, and faster delivery of products and services is one of the major drivers that is contributing to the growth of the market.
• Increasing penetration of advanced analytics is expected to augment the Europe social media analytics market growth.
• Problems in the workflow of analysis can restrain the growth of the market.
• The outbreak of COVID-19 has negatively impacted the Europe social media analytics market. However, the market is anticipated to recover soon.
• Growing adoption of cloud computing is expected to proliferate the growth of the market.

Europe Social Media Analytics Market Segment Insights:

Analytics and Insights segment to grow at a rapid pace
Based on components, the market is divided into monitoring, measurement, and analytics and insight. The analytics and insights segment is anticipated to account for a key market share and is anticipated to grow at a steady rate during the forecast period. Social media analytics is a broad term used to refer to the way mining data comes from social media, to process and present statistically-based insights to businesses, to aid in their decision-making processes. Many election campaigns in Germany relied on social media analytics in the past about public sentiments. Instagram and Twitter posts were tested and analyzed to get feedback.

Cloud segment to hold a major market share
On mode of deployment, the market is bifurcated into on-premise and cloud. The cloud segment is anticipated to account for a major market share in the projected timeline. Large number of organizations are already using the cloud or planning to do so, which is expected to spur the market segment. Startups or small companies are increasingly adopting cloud solutions, which is driving the growth of the market segment.

Media and entertainment segment to dominate the market
In terms of end-user verticals, the market is divided into BFSI, retail, healthcare, government services, media and entertainment, transportation and logistics, IT and telecommunications, and others. The media and entertainment segment is anticipated to dominate the market. Social media is one of prominent categories of the media and entertainment industry in Europe. Social media platforms have become a sensible way to expose products and content. Social media analytics are used by streaming services, such as Netflix, Amazon Prime, and CBS, to collect the data and provide similar recommendations to customers.

Germany to account a considerable market share
On the basis of regions, the market is segregated into UK, Germany, France, Italy, Spain, and Rest of Europe. Germany is anticipated to account for a considerable market share during the forecast period. According to a survey, 87% of Internet-users claimed ussing WhatsApp as a social media. YouTube came second with a 69% respondent share, followed by Facebook with 63%. Tumblr was the least-used platform, with only 3% of those surveyed stating they used the network.

Compititive Landscape
The major players of the market are IBM Corporation, SAS Institute Inc., Clarabridge Inc., Adobe System Incorporated, and Oracle Corporation.

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