Social Business Intelligence Market

Social Business Intelligence Market Outlook from 2024 to 2034

The social business intelligence market size is projected to be worth USD 25,886.8 million in 2024. The market is likely to reach USD 49,632.4 million by 2034. The market is further expected to surge at a CAGR of 6.7% during the forecast period 2024 to 2034.

Attributes	Key Insights
Social Business Intelligence Market Estimated Size in 2024	USD 25,886.8 million
Projected Market Value in 2034	USD 49,632.4 million
Value-based CAGR from 2024 to 2034	6.7%

Key Market Trends and Highlights

• The integration of big data analytics and artificial intelligence in social business intelligence tools enables more accurate and actionable insights. Machine learning algorithms can help in sentiment analysis, trend prediction, and personalized recommendations.
• The providers of social business intelligence are developing industry specific solutions tailored to the unique needs of various sectors, such as healthcare, finance, retail, and more. The customized solutions provide more value to businesses.
• Protecting and enhancing brand reputation is a top priority for businesses. SBI tools can help in monitoring and managing brand reputation by identifying and addressing potential issues before they escalate.
• SBI tools can assist organizations in monitoring compliance with regulations and identifying potential risks in real time, helping to avoid legal and reputational issues.

2019 to 2023 Historical Analysis vs. 2024 to 2034 Market Forecast Projections

The scope for social business intelligence rose at a 6.0% CAGR between 2019 and 2022. The global market for social business intelligence is anticipated to grow at a moderate CAGR of 6.7% over the forecast period 2024 to 2034.

Report Attributes	Details
Market Value in 2019	USD 19,265.3 million
Market Value in 2023	USD 24,322.1 million
CAGR from 2019 to 2023	6.0%

The social business intelligence market experienced steady growth during the historical period from 2019 to 2023, as businesses recognized the value of social data for decision making. The SBI adoption extended beyond tech savvy companies to various industries, including retail, healthcare, finance, among others. Customization and integration of SBI tools became common, allowing businesses to tailor solutions to their specific needs.

AI and big data analytics played a pivotal role in SBI solutions, enabling real time data analysis, sentiment tracking, and predictive capabilities. Cloud based solutions gained prominence due to scalability and accessibility advantages. Businesses expressed growing satisfaction with SBI tools as they harnessed social data for marketing campaigns, customer service, competitive analysis, among others.

The market from 2024 to 2034 is expected to continue its growth trajectory, driven by the proliferation of social media usage, globalization, and the increasing need for data driven decision making. Emerging technologies, such as AI, blockchain, and the Internet of Things, are anticipated to be seamlessly integrated into SBI solutions, further enhancing analytics and predictive capabilities.

New business models are expected to emerge, with subscription based models becoming more common, making SBI tools more accessible to a broader range of businesses. Various industries, including healthcare, finance, and e-commerce, are projected to continue innovating by customizing SBI solutions for specific use cases.

Social Business Intelligence Market Key Drivers

• The growing usage of social media platforms worldwide provides a vast amount of data for businesses to tap into. Social media is where customers share their opinions, preferences, and experiences, making it a rich source of data for social business intelligence.
• Understanding customer behavior and preferences is crucial for businesses to make informed decisions. Social business intelligence helps in gaining deeper insights into customer sentiment and needs, leading to better marketing strategies, product development, and customer service.
• Activities and customer sentiment of monitoring competitors are essential for businesses to stay competitive. The social business intelligence tools can help organizations keep track of the strategies of their competitors and customer feedback.
• The social business intelligence tools are becoming more sophisticated, offering real time analytics capabilities, which allows businesses to react swiftly to changing market conditions and customer sentiment.

Challenges in the Social Business Intelligence Market

• Stringent data privacy regulations, such as GDPR, CCPA, and similar laws, impose restrictions on the collection and use of social data. Non compliance can result in severe penalties, making businesses hesitant to adopt the SBI tools.
• The market relies on collecting and analyzing large volumes of social data, making it a prime target for cyberattacks and data breaches. Ensuring the security of this data is a significant challenge.
• Social media data can be noisy and unstructured, leading to data quality problems. Inaccurate or irrelevant data can result in misleading insights and hinder the effectiveness of SBI tools.
• Implementing and maintaining SBI solutions, especially those with advanced features and real time capabilities, can be expensive. Small and medium sized enterprises may find the costs prohibitive.

Country-wise Insights

The below table showcases revenues in terms of the top 5 leading countries, spearheaded by India and China. The countries are expected to lead the market through 2034.

Forecast CAGRs from 2024 to 2034

The United States	3.2%
The United Kingdom	2.3%
India	8.9%
China	7.1%
Japan	5.4%

Customer Experience Driving the Market in the United States

The social business intelligence market in the United States expected to expand at a CAGR of 3.2% through 2034. The United States has one of the highest rates of social media adoption in the world. The sheer volume of data generated on platforms like Facebook, Twitter, Instagram, and LinkedIn provides a rich source of information for businesses to analyze.

In the United States, customer experience and satisfaction are critical to business success. SBI enables organizations to understand and respond to customer feedback and preferences effectively. The financial services sector in the country relies on SBI for risk management, fraud detection, market analysis, and investment decisions. Real time insights are crucial in this industry.

Tech Savvy Population to Accelerate Market Growth in Japan

The social business intelligence market in Japan is anticipated to expand at a CAGR of 5.4% through 2034. Japan has a tech savvy population that actively engages with digital platforms and social media. The user engagement generates significant social data, which is a valuable resource for SBI.

The country has a well established e-commerce and retail sector. SBI tools are crucial for monitoring consumer sentiment, tracking product reviews, optimizing supply chains, and enhancing customer experiences in this competitive industry.

The unique cultural context and consumer preferences in Japan make SBI essential for understanding and catering to specific market nuances. It enables businesses to tailor their strategies to local expectations effectively.

Healthcare and Pharmaceuticals Fueling the Market in India

The social business intelligence market in India is poised to expand at a CAGR of 8.9% through 2034.

SBI is invaluable for the healthcare sector in India, enabling patient feedback analysis, epidemiological monitoring, and drug sentiment analysis. Indian government agencies use SBI for crisis management, emergency response, public sentiment analysis, and monitoring public services.

SBI solutions often incorporate predictive analytics, which helps anticipate market trends, customer behavior, and emerging opportunities, enabling proactive decision making. SBI tools play a crucial role in reputation protection, particularly in the event of market disruptions, economic crises, or other unforeseen events.

Telecom and Technology Industry Spearhead the Market in China

Social business intelligence trends in China are taking a turn for the better. A 7.1% CAGR is forecast for the country from 2024 to 2034.

China is home to some of the largest technology and telecom companies in the world. The organizations use SBI to monitor market trends, track customer sentiment, and improve their products and services. The fast paced nature of the Chinese market demands real time insights for quick decision making. SBI tools provide timely data analysis and alerts.

The economic influence of China on a global scale necessitates SBI for monitoring and responding to international market dynamics and geopolitical events. SBI solutions often incorporate predictive analytics, enabling Chinese businesses to anticipate market trends, customer behavior, and emerging opportunities for proactive strategies.

Innovative Use Cases Driving the Sales in the United Kingdom

The social business intelligence market in the United Kingdom is anticipated to expand at a CAGR of 2.3% through 2034. The businesses in the United Kingdom are increasingly prioritizing customer experience. SBI helps in analyzing customer sentiment, feedback, and preferences to enhance the quality of services and products. Maintaining a positive brand image is crucial for businesses in the country. SBI tools allow for the monitoring of brand reputation and customer sentiment, enabling proactive brand management.

SBI helps organizations in the country monitor and respond to public events and emergencies, enabling them to adapt their strategies quickly. Businesses in the United Kingdom are exploring innovative use cases for SBI, such as sentiment analysis for stock trading and investment, predictive analytics for demand forecasting, and AI driven chatbots for customer interactions.

Category-wise Insights

The below table highlights how BFSI segment is projected to lead the market in terms of vertical, and is expected to account for a share of 17.9% in 2024.

Based on size of enterprise, the large enterprise segment is expected to account for a share of 43.5% in 2024.

Category	Shares in 2024
BFSI	17.9%
Large Enterprise	43.5%

BFSI Segment Claims High Demand for Social Business Intelligence

Based on vertical, the BFSI segment is expected to continue dominating the social business intelligence market. The segment is expected to account for a share of 17.9% in 2024.

The BFSI sector relies on accurate data to assess and manage risks effectively. SBI provides real time insights into market sentiment and emerging risks, aiding in risk management and decision making. SBI tools analyze social data to gain a deeper understanding of customer behaviors, preferences, and sentiments. The information is invaluable for personalizing financial products and services, improving customer experience, and increasing customer retention.

The BFSI sector faces stringent compliance and regulatory requirements. SBI helps in monitoring and ensuring compliance with these regulations by analyzing and reporting on data effectively. SBI tools can help financial institutions detect and prevent fraudulent activities by analyzing transactional and social data patterns, which aids in safeguarding assets and maintaining trust with customers.

Large Enterprise Segment to Hold High Demand for Social Business Intelligence

In terms of size of enterprise, the large enterprise segment is expected to continue dominating the social business intelligence market. The segment is expected to account for a share of 43.5% in 2024.

Large enterprises deal with vast amounts of data generated from various sources, including social media. SBI solutions help them manage and extract actionable insights from this complex data, allowing for more informed decision making.

Large enterprises have a wide range of data sources, including multiple social media platforms, customer reviews, and forums. SBI tools can consolidate and analyze data from these sources to provide a comprehensive view of customer sentiment and market trends.

Large enterprises often operate on a global scale, which necessitates monitoring and analyzing data from different regions and languages. SBI solutions with multilingual support and global reach help them maintain a competitive edge.

Competitive Landscape

The key strategies chosen by large companies include several growth strategies such as technology development, expansion as well and mergers and acquisitions to surge market share, reach and revenue.

• In 2023, Hootsuite acquired Sparkcentral, a social customer service platform. The acquisition is expected to allow Hootsuite to offer its customers a more comprehensive social media marketing and customer service solution.
• In the same year, Sprout Social announced the launch of SproutIQ, a new social intelligence platform that provides businesses with insights into their social media performance and their audience.
• In 2022, Brand24 announced the launch of Brand24 Social Listening, a new social listening platform that provides businesses with insights into their brand reputation and the behavior of their audience.
• In the same year, Digimind announced the launch of Digimind Social Intelligence Suite, that provides businesses with insights into their social media performance, their audience, and their competitors.

Report Scope

Attribute	Details
Estimated Market Size in 2024	USD 25,886.8 million
Projected Market Valuation in 2034	USD 49,632.4 million
Value-based CAGR 2024 to 2034	6.7%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value in USD million
Key Regions Covered	North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa
Key Market Segments Covered	Deployment Type, Size of Enterprise, Vertical, Region
Key Countries Profiled	The United States, Canada, Brazil, Mexico, Germany, France, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India , Bangladesh, Australia , New Zealand, China , Japan , South Korea, GCC countries , South Africa , Israel
Key Companies Profiled	IBM Corporation, SAP SE, SAS Institute Inc., Tableau Software, Inc., Qlik Technologies, Inc., Microsoft Corporation, Alteryx Inc., MicroStrategy, Inc., Logi Analytics, Inc., TIBCO Software, Inc.

Segmentation Analysis of the Social Business Intelligence Market

By Deployment Type:

• On Premise
• Cloud based

By Size of Enterprise:

• Small Enterprise
• Medium Enterprise
• Large Enterprise

By Vertical:

• BFSI
• Healthcare and Life Sciences
• Consumer Goods and Retail
• Travel and Tourism
• IT and Telecommunication
• Media and Entertainment
• Government
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia & Pacific
• East Asia
• The Middle East & Africa

Frequently Asked Questions

What is the expected worth of the Social Business Intelligence market in 2024?

The market is expected to reach USD 25,886.8 million in 2024.

What is the expected CAGR for the Social Business Intelligence market until 2034?

The market is set to expand by a CAGR of 6.7% by 2034.

How much valuation is projected for the Social Business Intelligence market in 2034?

The market is forecast to reach USD 49,632.4 million by 2034.

Which country is likely to be at the pinnacle of the Social Business Intelligence market?

India is to be the top performing market, with a CAGR of 8.9% through 2034.

Which is the leading vertical in the Social Business Intelligence domain?

BFSI segment is preferred, and is expected to account for a share of 17.9% in 2024.