This report was recently updated on April 19 2024 with the latest and most recent
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Global Social Business Intelligence Market Size, Trends, and Analysis - Forecasts To 2026 By Deployment Type(On-Premise, Cloud-Based), By Size of Enterprise(Small Enterprise, Medium Enterprise, Large Enterprise), By Vertical(BFSI, Healthcare and Life Science, Consumer Goods and Retail, Travel and Tourism, IT and Telecommunication, Media and Entertainment, Government, Others), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
The global market will register a peak growth rate and holds the maximum share in the market, due to the evolution of data analytics and self-serve business intelligence. Social BI concept becoming more mainstream now, organizations and business users are gaining the benefits of data analytics. Social BI mainly revolves around collecting, analyzing, publishing, and sharing data, reports, and information, using analytics dashboards and interactive business intelligence and intuitive tools.The solutions alsoimprove user understanding, data clarity, and comfort with analytical tools. It combines analytics with social media like Twitter, LinkedIn, and Facebook, to offer vital business insights.Social BI enables confident decision making by putting all users on the same page. Social business intelligence tools work to reduce the drawbacks that the traditional business intelligence tools face.It helps organizations identifytheir weaknesses, opportunities, and threats. The reduced costs, low technical and analytical skills are factors accelerating the social business intelligence market's growth.Enterprises implement social business intelligence to monitor consumer behavior and preferences. With the increasing adoption of social media technology, social business intelligence helps enterprises remain competitive.Big data offers Hadoop solutions, enabling users to manage, store efficiently, and analyze data across several resource bases.
The deployment type segment is categorized and explained intoon-premise and cloud-based.The cloud-based segmentis the largest shareholder over the estimated timeframe.This is due to its benefits like service model remuneration and low infrastructure costs.The adoption of cloud-based technologies is increasing because the rise in intense competition among industries drives the need for data analytics from multiple sources. Cloud-based solutions offer regular minimal payment and eliminate the requirement for making a large one-time investment and the periodic expenses for maintenance and updates.
Based on the enterprise size, the market is explained into small enterprise, medium enterprise, and large enterprise among others. SMEs segment will register a tremendous growth ratebetween 2021-2026. Growing demand from online retail consumers and favorable regulatory policies are boosting the market growth.
Based on the vertical, the market is categorized into BFSI, government, healthcare, and life science, consumer goods and retail, media and entertainment, travel and tourism, and IT & telecommunication among others. BFSI will be the leading segment in the estimated timeframe. This segment's focus is to place customers at the heart of their strategies, and here the role of social business intelligence tools will stimulate the market's growth in the projected time frame.
The North American region will dominate in terms of revenue generation. This is attributed to therising demand for wearable devices that monitor bodily data, like Fitbit, as health monitoring gains a lot of traction.
TIBCO Software, Inc., Evolve24, Clarabridge, Google, Crimson Hexagon,IBM Corporation, SAP SE, Tableau Software, Inc., HP, Lithium Technologies, NetBase Solutions, Logi Analytics Inc., QlikTechnologies, Inc., MicroStrategy, Inc., Alteryx, Inc.,Oracle Corporation, SAS Institute, Adobe Systems, Attensity, Beevolve,Sysomos, Cision, Visible Technologiesand Microsoft Corporation.,among others,are the key competitors in the market.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Social Business Intelligence Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Social Business Intelligence Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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