The social media has revolutionized the business world and has evolved as an industry itself. The demand for capable and skilled workforce in this field has increased, with the realization of power of social media by several companies. The social media Analytics facilitates the firms to collect data from social networking sites such as blogs and other media to understand and reduce the gap between customer and the company. This tool helps the organizations to serve its customer better and build effective marketing strategies to attract more and more customers. The social media today, has reached to a point where it has become a vital of any company’s functioning.
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As the market is expected to see high demand growth in the future, some of the major factors driving the growth of market include the increasing number of social media platform operators, greater focus on competitive intelligence and market, and increasing expenditure on analytics. The factors hindering the market are the complicated workflow of the application that slows down the process of analysis. High adoption rate in small and medium enterprises and growing cloud adoption trends are some of the upcoming opportunities that are expected to mold the future of the market.
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The global social media analytics market is bifurcated on the basis of types, verticals, application and region. In context with types of social media analytics the market is segmented into solution and services, in which services are further segmented into support & maintenance, consulting services and training & education. In accordance with type, consulting services are dominating the market currently but training and education is expected to take over the market in next few years. Similarly, the...