Global Audience Analytics Market Size, Share & Industry Trends Analysis Report By Component, By Application, By Enterprise Size (Large Enterprises, and Small & Medium-sized Enterprises), By Vertical, By Regional Outlook and Forecast, 2023 - 2030

Global Audience Analytics Market Size, Share & Industry Trends Analysis Report By Component, By Application, By Enterprise Size (Large Enterprises, and Small & Medium-sized Enterprises), By Vertical, By Regional Outlook and Forecast, 2023 - 2030

The Global Audience Analytics Market size is expected to reach $9.6 billion by 2030, rising at a market growth of 12.2% CAGR during the forecast period.

The media and entertainment industry has been transforming digitally, with most content consumption happening online. Therefore, media and entertainment segment captured $ 1,152.2 million revenue in the market in 2022. This shift has created vast amounts of data that can be analyzed to understand audience preferences, behavior, and engagement. It allows media and entertainment companies to personalize content and recommendations. By analyzing user data, platforms can provide tailored content suggestions, improving user satisfaction and increasing engagement. Owing to these factors, there will be increased demand in the segment. Some of the factors impacting the market are growing online audience and digitalization of businesses, rising personalized marketing trends, and growing privacy concerns with audience analytics.

Audience analytics gathers data from various digital channels, including websites, social media platforms, mobile apps, email interactions, and more. These channels collectively contribute to a wealth of data that reflects user interactions and engagements. By analyzing user interactions with digital content, this helps businesses understand how individuals navigate websites, engage with products or services, and respond to various calls to action. This behavioral analysis provides insights into the user journey and helps optimize digital experiences. Additionally, this enables the division of consumers into discrete cohorts according to common attributes, including demographics, purchasing patterns, behavior, and preferences. These segments form the foundation for personalized marketing campaigns, as businesses can tailor their messaging to resonate with each segment's specific needs and interests. By leveraging audience analytics, businesses can conduct in-depth behavioral analysis of their customers. This includes understanding how users navigate websites, engage with content, and respond to marketing touchpoints. Owing to these factors, there will be an increased demand in the market.

However, a fundamental privacy principle is obtaining clear and informed consent from users for collecting and using their data. However, ensuring that users fully understand and consent to the specific ways their data will be used in audience analytics can be challenging. Companies need to communicate their data practices transparently and in a way that is easily understandable to the average user. Choosing between opt-in and opt-out mechanisms for data collection has significant implications for user privacy. Hence, these factors are expected to restrain the expansion of the market.

Component Outlook

Based on component, the market is bifurcated into solution and services. In 2022, the services segment garnered a significant revenue share in the market. Technological advancements, including but not limited to big data analytics, machine learning, and artificial intelligence, consistently drive the evolution of the audience analytics domain. As businesses become more aware of the benefits of this, there is an increased demand for professional services to help them navigate the analytics process, interpret results, and implement data-driven strategies. Therefore, the segment will grow rapidly in the coming years.

Application Outlook

On the basis of application, the market is divided into competitive analysis, sales & marketing management, and customer experience. The customer experience segment recorded the maximum revenue share in the market in 2022. The growth of digital platforms, e-commerce, and online services has led to an abundance of customer data. Analyzing this data provides valuable insights into customer journeys, online behavior, and preferences, contributing to the enhancement of the overall customer experience. These factors will help in the expansion of the segment.

Enterprise Size Outlook

Based on enterprise size, the market is bifurcated into large enterprises and small & medium-sized enterprises. In 2022, the small and medium-sized enterprises segment witnessed a substantial revenue share in the market. Small and medium sized enterprises (SMEs) often seek cost-effective solutions that provide value for money. The availability of more affordable and user-friendly tools has allowed smaller businesses to access and leverage these technologies. The adoption of cloud-based solutions has been beneficial for SMEs. Cloud offerings often require lower upfront costs and reduce the need for significant IT infrastructure investments.

Vertical Outlook

Based on vertical, the market is segmented into IT & telecommunication, healthcare, retail & e-commerce, automotive & transportation, media & entertainment, and others. The retail and e-commerce segment recorded a significant revenue share in the market in 2022. The retail and e-commerce sectors are placing a strong emphasis on personalized customer experiences. This enables businesses to understand individual preferences and tailor their offerings, promotions, and marketing messages accordingly. Comprehending the complete consumer journey, encompassing activities that occur after the purchase has been completed. These tools help retailers and e-commerce platforms track and analyze customer touchpoints, allowing for better optimization of the overall customer experience.

Regional Outlook

By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The North America segment procured the highest revenue share in the market in 2022. North America has a robust media and entertainment industry. This is crucial for content creators and distributors to understand viewer preferences, improve content recommendations, and enhance engagement. Businesses in North America heavily rely on targeted advertising and personalized marketing strategies. This is crucial in identifying target demographics, optimizing ad performance, and measuring campaign effectiveness. As a result, there will be increased growth in the segment.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Adobe, Inc., Oracle Corporation, IBM Corporation, SAS Institute, Inc., Sightcorp (Raydiant Inc.), Akamai Technologies, Inc., NetBase Solutions, Inc., JCDecaux SE, Telmar Group Inc. (Liiv Group), and Google LLC (Alphabet Inc.).

Strategies Deployed in Audience Analytics Market

Jul -2023: Google LLC came into partnership with GrowthLoop, a US-based software development company. Through this partnership, Google would utilize the capabilities of Google cloud's bigQuery and generative AI to revolutionize business segments, activate, personalize, and gauge the effectiveness of their marketing efforts.

May-2023: JCDecaux SE took over Clear Channel Outdoor Holdings, Inc., an out-of-home advertising company based in San Antonio, United States. Through this acquisition, JCDecaux would extend its market presence in Spain and Italy by providing a nationwide network with operations in several outdoor advertising segments.

Apr-2023: Akamai Technologies, Inc. introduced upgraded cloud computing functionalities for streaming video at the 2023 NAB Show. These capabilities are designed to aid OTT operators in offering audiences improved quality and personalized video experiences.

Mar-2022: Adobe, Inc. came into partnership with IBM, an American multinational technology corporation. Through this partnership, Adobe would enhance its experience platform by leveraging weather data to craft personalized consumer experiences.

Dec-2021: Telmar Group Inc. took over Helixa, a US-based market research company. Through this acquisition, Telmar would enhance its capabilities in media planning and audience analysis by incorporating Helixa's platform, IP, and AI capabilities.

Jun-2021: Sightcorp, a subsidiary of Raydiant, Inc. came into partnership with DooH Solutions, an IT Services and IT Consulting company. Through this partnership, Sightcorp would provide its video analytics technology to dooh solutions for enhancing Data-Driven DOOH technologies.

Jul-2020: IBM Corporation took over WDG Automation, an IT Services and IT Consulting company. Through this acquisition, IBM would enhance automation capabilities infused with artificial intelligence (AI) covering a spectrum from business processes to IT operations.

Scope of the Study

Market Segments covered in the Report:

By Component

• Solution
• Services

By Application

• Customer Experience
• Sales & Marketing Management
• Competitive Analysis

By Enterprise Size

• Large Enterprises
• Small & Medium-sized Enterprises

By Vertical

• Media & Entertainment
• Automotive & Transportation
• IT & Telecommunication
• Retail & E-commerce
• Healthcare
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Adobe, Inc.
• Oracle Corporation
• IBM Corporation
• SAS Institute, Inc.
• Sightcorp (Raydiant Inc.)
• Akamai Technologies, Inc.
• NetBase Solutions, Inc.
• JCDecaux SE
• Telmar Group Inc. (Liiv Group)
• Google LLC (Alphabet Inc.)

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