Audience Analytics Market Size, Share & Trends Analysis Report By Component (Solution, Services), By Application (Competitive Analysis, Sales & Marketing Management), By Enterprise Size, By End-use Industry, By Region, And Segment Forecasts, 2023 - 2030

Audience Analytics Market Size, Share & Trends Analysis Report By Component (Solution, Services), By Application (Competitive Analysis, Sales & Marketing Management), By Enterprise Size, By End-use Industry, By Region, And Segment Forecasts, 2023 - 2030

Audience Analytics Market Growth & Trends

The global audience analytics market size is anticipated to reach USD 9.96 billion by 2030, registering a CAGR of 11.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing complexity of consumer behavior across a multitude of digital channels is driving market growth. This complexity has fostered a demand for more sophisticated analytics tools within audience analytics capable of comprehensively aggregating and deciphering diverse data sources. Additionally, the growing emphasis on personalized marketing strategies has significantly influenced the adoption of audience analytics solutions. Tailored and personalized approaches have become essential in engaging consumers effectively.

In terms of technological advancements, the COVID-19 pandemic has accelerated innovation in analytics. There has been a greater focus on AI & ML in analytics tools, allowing businesses to better automate and streamline their analytics processes. There has been an increased use of cloud-based analytics platforms, which can provide businesses with more flexibility and scalability in their analytics capabilities. In 2021, SAS's customers demanded analytics in the cloud. Hence, SAS expanded support for additional cloud providers. In October 2020, Adobe, Microsoft, and C3.ai collaborated to bring advancements in CRM using AI. This integration will enable customers to leverage the integrated ecosystem's advanced CRM capabilities along with Azure, Microsoft 365, and the Microsoft Power Platform through the joint solution.

Audience Analytics Market Report Highlights

• Based on components, the solutions segment accounted for the highest revenue share of 66.8% in 2022. The solutions segment includes predictive analytics. It is intended to assist businesses in realizing their untapped potential. It helps in identifying hidden patterns in the data, which, when used effectively, reveal meaningful customer insights. AI and ML are the most significant contributors to predictive analytics
• Based on application, the sales and marketing segment is projected to grow at the fastest CAGR of 15.3% over the forecast period. The advent of AI-powered analytics tools has provided a deeper level of precision and real-time analysis, allowing marketers to adapt strategies on the fly and optimize campaign performance
• Based on enterprise size, the large-size enterprises segment held the largest revenue share of 56.2% in 2022. The intricacies of large-scale operations and the diverse touchpoints through which these enterprises interact with consumers necessitate more comprehensive and adaptable Audience Analytics solutions. These tools are crucial in aggregating data from various sources like e-commerce platforms, multiple marketing channels, customer service interactions, and more
• Based on end-use industry, the IT & telecommunication segment is expected to grow at the highest CAGR of 14.6% during the forecast period. The surge in digital transformation initiatives within this sector has led to an exponential increase in data generation from various sources, such as mobile devices, network interactions, IoT gadgets, and digital services. This data influx has created a pressing need for robust audience analytics tools capable of processing, interpreting, and leveraging this diverse data ecosystem
• North America dominated the market with the largest revenue share of 29.9% in 2022. The region's emphasis on data-driven decision-making, coupled with the surge in online advertising and e-commerce activities, has intensified the demand for audience analysis tools

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