A key factor driving the acceptance of the social computing market is the growing use of smartphones by individuals using social media. With the rise of digital technology, people are using social media for online shopping, communication and social connectivity activities which propel growth of market. In addition, driving factors for social computing market are high growth of social media measurement to enhance customer experience tools and increasing demand from small and medium enterprises to offer competitive intelligence. However, complexities involved in the analytical workflow is restraining the social computing market. Contrarily, increasing cloud adoption trends and voluminous data generation through social media platforms is an opportunistic factor to encourage the growth of social computing market in forecasted years.
Social computing analytics companies face discrepancies in analytical workflow owing to high implementation efforts and requirement of significant technical expertise. Furthermore, data analysis and customization is highly complex and time-consuming. This is a major hindrance that restrains the growth of social computing market.
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Impact of COVID-19 on Social Computing Market:
► Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost all countries around the globe, with the WHO declaring it a public health emergency. The global impacts of the disease are already starting to be felt, and expected to significantly affect the global social computing market in 2020.
► To stop spread of corona virus, businesses have shifted to online mode to run their operations, which makes more employees are leaning online.
► Overall, the corona virus pandemic is expected to have a positive impact on the global social computing market.
A large number of administrations are using cloud or planning applications which will result in potential growth of the market. It has been observed that while small or startups companies quickly adopt cloud, large enterprises are more alert to transfer to cloud. One of the main concerns that hinders cloud adoption for a search is data security. Despite such concerns, the acceptance of cloud is growing at a fast pace due to the clearprofits of springiness and price that it offers through the legacy systems. Increase in acceptance of cloud is an opportunity for growth of the global social computing market as it allows organizations to achieve real time data analysis on unused data for better consumer insights.
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Key benefits of the report:
► This study presents the analytical depiction of the global social computing industry along with the current trends and future estimations to determine the imminent investment pockets.
► The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global social computing market share.
► The current market is quantitatively analyzed to highlight the global social computing market growth scenario.
► Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
► The report provides a detailed global market analysis depending on competitive intensity and how the competition will take shape in coming years.
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Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
Key Market Players:
► SAS Institute Inc.
► GoodData Corporation
► Adobe Inc.
► SAP SE
► Salesforce.com Inc.
► NetBase Solutions, Inc.
► International Business Machines Corporation
► Oracle Corporation
► Hootsuite Media Inc.
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