Europe Social Media Analytics Market - Growth, Trends, Forecasts (2020-2025)
Europe Social Media Analytics Market can be segmented by Component ( Monitoring, Measurement, Analytics and Insight), Mode of deployment (On-Premise, Cloud), End-user Vertical (BFSI, Retail, Healthcare, Government Service, Media and Entertainment, Transportation and Logistics, IT and Telecommunications) and Country.
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Scope of the report
Key Market Trends
TABLE OF CONTENTS
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Europe Social Media analytics market is expected to grow at a CAGR of 15.2% during the forecast period 2020-2025. Europe has more than 300 million active users in social media and Social Media Analytics will help the companies capture the online market. Segmented by end user industry, by vendors and by countries.
Smartphone penetration has been estimated to rise drastically, which is further expected to boost the market for social media analytics, as an increasing number of users are currently gaining internet access.According to the World Bank, Germany has a high number of active internet users, which has contributed to the growth of social media. Smartphones are one of the primary sources of access to social media content.
As of April 2019, Facebook, Pinterest, and Twitter are among the top three most-used platforms in the country, along with Instagram, Youtube, Google+, and Snapchat, among other popular social media platforms, which are used for analytics to draw various inferences and personalized content with more than 62,621,016 accounts in United Kingdom.
However, the recent introduction of laws to control the nature of speech and credibility of news being shared across social media has decelerated the growth of social media in the region. Fines of EUR 50 million for major online services that have failed to take down such content have been imposed as a part of the new amendment (the draft of which has been introduced by the Justice Minister Heiko Mass).
The COVID-19 outbreak has demonstrated the true need for data and how analytics has a key role to play in pandemic management. People have been forced into social distancing at home and have more time to consume social media content and as a result the supply is trending up. That has also create new possible oppurtunities for smart marketers to create engaging content. Facebook CPC increased by 20.6% in Western Europe and 16.2% in Southern Europe.
Scope of the report
Social media analytics is widely considered to be a major business and a marketing tool in the present day business scenario. It is being used by businesses across the globe to gain actionable insights on consumer perceptions for improving their services and products. The process combines monitoring, measurement, analysis tools to uncover user sentiments, and identify key trends in the study market.
Analytics and Insight
Mode of Deployement
IT and Telecommunication
Media and Entertainment
Transportation and Logistics
Rest of Europe
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Key Market Trends
Analytics and Insight to Show Significant Growth
Social media analytics is a broad term that is used to refer to an approach of mining data from social media sources, for processing and presenting statistics-based insights to businesses, in order to aid their decision-making processes.
Many election campaigns in Germany were relying on social media analytics in the past for the inference about public sentiments. Instagramand Twitter posts have been monitored and analyzed for feedback about the popular sentimental analysis.
Major companies, such as AirFrance and KLM, have been using social media to gain insights toward tourism and travel, owing to the popularity of travel in the country.
Spain is among the fastest-growing smartphones markets among the European countries. More than 80% of internet users in Spain access the internet through mobile phones, owing to which, growth of smartphones is leading to the growth of social media, which, in turn, would lead to the growth of the social media analytics market.
Startup companies, KPI6, has been integrating Facebook data, which is believed to help in making marketing and strategic decisions. Such companies have been growing, owing to which, the use of social media analytics is expected to grow in the region.
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Media and Entertainment to Hold the Highest Market Share
Social media is one of the fastest growing categories of media and entertainment in Europe, which is becoming a meaningful way to expose brands and content to, both, active and potential readers, especially the millennial population.
Social media analytics are used by streaming services, like Netflix, amazon prime, CBS, to collect data of the most watched shows and analyze them to give similar recommendations to the customers.
Predictive models in Germany are being used to test different pricing, advertising, and social scenarios, allowing the broadcasters to make fact-based business decisions, in terms of marketing campaigns, sales forecasting, and pricing.
Famous celebrities and TV channels use social media platforms to monitor the discussions and reviews from the fans, in order to deliver better performances. Also, famous brands, like Nike, Adidas, and other product-based brands, pick celebrities with maximum followers to collaborate their marketing strategies, to widen the products’ reach.
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The competitive landscape of the Europe Social Media Analytics Market is expected to move towards fragmentation, owing to the emergence of several small and medium-sized solution providers in the market. The solution providers are increasingly collaborating with several companies across the industries to boost the adoption of their Social Media analytics solutions. Also, the existing market players are innovating their solutions to compete in the market.
in November 2020- Hugo Boss today reported a 66% rise in its online sales in the latest quarter of the financial year – although that could not compensate for store closures and group sales fell by 24%. The brand is now using social media to raise awareness of its brand in new ways.
In October 2020- Cambridge based Data Analytics Startup Geospock has announced €4.6 million in additional funding to accelerate the development and adoption of what it calls the fastest, most scalable database on the market. This strategic investment round brings the total GeoSpock has raised to date to over €27 million.