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Social Business Intelligence Market to Touch USD 71.5 Billion at 14.30% CAGR by 2032

Nov 14, 2023 11:00 PM ET

Social Business Intelligence Market to Touch USD 71.5 Billion at 14.30% CAGR by 2032

Social Business Intelligence Market Eyeing Remarkable Growth due to Increasing Adoption by Business Organizations

Market Analysis 

The global social business intelligence market will touch USD 71.5 billion at a 14.30% CAGR by 2032, as per the latest Market Research Future report.

Key Players 

Key players profiled in the social business intelligence market report include,

  • Acquia Inc
  • Adobe Inc.
  • Alphabet Inc.
  • Emplifi Inc
  • GoodData Corp.
  • Hewlett Packard Enterprise Co.
  • International Business Machines Corp.
  • Ipsos Group S A, Maritz Holdings Inc.
  • Microsoft Corp.
  • NetBase Solutions Inc.,
  • Oracle Corp.
  • Piano Software Inc.
  • Qualtrics International Inc.
  • Salesforce Inc.
  • SAP SE
  • SAS Institute Inc.
  • Sprout Social Inc
  • Vista Equity Partners Management LLC.

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Market Scope:

 Report Attribute


 Market Size 2022

 USD 21.5 Billion

 Market Size 2023

 USD 24.5 Billion

 Market Size 2032

 USD 71.5 Billion

 Compound Annual Growth Rate (CAGR)

 14.30% (2023-2032)

Market Segmentation 

The global social business intelligence market is bifurcated based on vertical, business function, organization size, deployment mode, and component.

By component, solutions will lead the market in the forecast period.

By deployment mode, cloud will domineer the market in the forecast period.

By organization size, large enterprises will spearhead the market in the forecast period.

By business function, finance will spur the market in the forecast period.

By vertical, BFSI will head the market in the forecast period.


Growing Use of Cloud-Based Technologies to Boost Market Growth 

The growing use of cloud-based technologies in businesses will boost market growth in the forecast period. Business intelligence service plays an imperative part in the big data analysis tools which are cloud-based. The use of cloud services on the social media platforms possesses untold perks like service model remuneration and low infrastructure cost. Organizations like Oracle Corporation, IBM Corporation, and Microsoft Corporation for instance are using private and public cloud platforms in switching their enterprise workloads. The cloud deployment enables an enterprise in managing BI applications via outsourcing the BI infrastructure. This helps the organization to increase productivity, reduce operating cost, and optimize implementation timeframes.

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Increasing Adoption by Business Organizations to offer Robust Opportunities 

The increasing adoption of social business intelligence by various organizations will offer robust opportunities for the social business intelligence market in the forecast period. SMEs can utilize it for understanding their target market, improving customer service, and gaining a competitive edge. The large enterprises on the other leverage the social BI for customer sentiment analysis, brand monitoring, and campaign management. The government organizations also benefit from social BI via tracking trends, augmenting decision-making processes, and monitoring public opinion.

Besides increasing use of cloud computing due to WFH trends during the COVID-19 epidemic also possessed a positive impact on the market growth.

Restraints and Challenges 

Security Breaches to act as Market Restraint 

Security breaches, privacy concerns, and limited qualified specialists may act as market restraints over the forecast period.

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Regional Analysis 

North America to Command Social Business Intelligence Market 

North America will command the market in the forecast period as it places immense priority on technical innovation. The region is abode to several leading BI solution vendors, increasing use by BFSI and telecommunications, growing digitalization in the US, increasing use in small organizations, and expanding use of cloud systems are adding to the market growth here. US grabbed the utmost market share followed by Canada.

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