At 21.0% CAGR, the Europe Social Media Analytics Market is projected to be worth US$ 7,672.98 million by 2028, says Business Market Insights           

According to Business Market Insights’ research, the Europe social media analytics market was valued at US$ 2,438.93 million in 2022 and is expected to reach US$ 7,672.98 million by 2028, registering a CAGR of 21.0% from 2022 to 2028. Rising importance of social media platforms and growing demand for business intelligence (BI) are the critical factors attributed to the market growth.              

Social media platforms have become a focal point for all forms of communications, which needs to be addressed by large groups. Hence, it is increasingly used to launch protests, communicate about a gathering, post fake news to promote disharmony, and several other unlawful activities. Such trends have prompted government and law enforcement agencies (LEA) to monitor social media platforms actively. Social media monitoring activities have been prevalent for a decade. Modern technologies have become more robust, enabling better trend analysis and problem identification. Artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) have been combined to gather better insights from social media conversations, comments, likes, and posts. Predicting mass agitation, profiling a suspect and sentiment analysis are some of the insight’s LEAs can gain from social media analytics. Hence, the increasing demand for social media analytic solutions and services from LEA can be expected to offer good growth opportunities for the social media analytics market in the years to come. This is expected to drive the market during the forecast period.

On the contrary, data confidentiality and security concerns hurdles the growth of Europe social media analytics market. 

• Based on component, the Europe social media analytics market is bifurcated into solutions and services. The solutions segment held 82.7% market share in 2022, amassing US$ 2,017.23 million. It is projected to garner US$ 6,495.55 million by 2028 to expand at 21.5% CAGR during 2022–2028. Further, the component is bifurcated into Professional Services and Managed Services.
• Based on application, the Europe social media analytics market is categorized into customer experience management, competitive intelligence, sales & marketing management, and others. The competitive intelligence segment held 31.5% market share in 2022, amassing US$ 768.88 million. It is projected to garner US$ 2,384.46 million by 2028 to expand at 20.8% CAGR during 2022–2028.
• Based on deployment, the Europe social media analytics market is bifurcated into cloud and on-premise. The cloud segment held 80.2% market share in 2022, amassing US$ 1,956.81 million. It is projected to garner US$ 6,386.09 million by 2028 to expand at 21.8% CAGR during 2022–2028.
• Based on organization size, the Europe social media analytics market is bifurcated into large enterprises and SMEs. The large enterprises segment held 58.8% market share in 2022, amassing US$ 1,433.82 million. It is projected to garner US$ 4,337.92 million by 2028 to expand at 20.3% CAGR during 2022–2028.
• Based on vertical, the Europe social media analytics market is categorized into BFSI, IT & telecommunication, media & entertainment, retail & e-commerce, and others. The retail & e-commerce segment held 24.8% market share in 2022, amassing US$ 604.61 million. It is projected to garner US$ 1,955.81 million by 2028 to expand at 21.6% CAGR during 2022–2028.
• Based on country, the Europe social media analytics market has been categorized into the Germany, France, Italy, the UK, Russia, and the Rest of Europe.  Our regional analysis states that Germany captured 25.2% market share in 2022. It was assessed at US$ 614.52 million in 2022 and is likely to hit US$ 2,085.56 million by 2028, exhibiting a CAGR of 22.6% during the forecast period.             

Key players dominating the Europe social media analytics market are 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. among others.

• In April 2021, Meltwater announces agreement to acquire Klear.
• In Jun 2022, Oracle Completes Acquisition of Cerner.

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