The audience analytics market is expected to register a CAGR of 12.1% during the forecast period (2020-2025). The better the analysis was done on the audience, the more value can be generated and earn insights. It has become very important to understand the audience. Knowing about their actions, and about how they’re interacting with the brand is incredibly valuable.
- The huge untapped demand for a personalized market has emerged recently. The customers feel delighted due to the personalized approach to their demands and choices. It helps in creating brand loyalty.
- The companies are focussing strongly on competitive intelligence. The study of competitive intelligence helps to be prepared for all the conditions that are going to arise from the competitors’ actions.
- There has been a lot of complexities while dealing with the analysis data. The analysis contains errors and can result in deviations between forecast and reality. This can lead to huge amount of irregularities in the longer run.
Scope of the Report
The audience analytics allows you to incorporate audience data such as demographic information, psychographic information, CRM data, and ad impression data into any Analytics workflow. Audiences in Analytics are users that you group together based on any combination of attributes that is meaningful to your business.
Key Market Trends
Media & Entertainment is Expected to Experience Major Market Share
- Compared to audiences ten years ago, today’s consumers have access to unlimited amounts of content and are consuming it on an increasingly diverse range of technologies and platforms. In this media-saturated environment, audiences demand content experiences that are enriching and convenient, and consumption patterns are changing in response.
- Millenials engagement of the smartphone has been on the increasing trends. Most of the time is spent on watching movies on popular streaming platforms like Amazon Prime and Netflix. As a result, media and entertainment leaders face increasing pressure to find new ways to monetize content and generate revenue.
- There has been a sudden requirement for media and entertainment companies to go further in developing personalized experiences. While many content platforms try to address this issue by providing recommendations, consumers still aren’t satisfied.
- It is essential for media firms to better understand metadata. Understanding an audience’s passions, interests, and preferences provide media companies with an understanding of the context behind why an audience consumes specific content.
North America is Expected to Hold a Major Market Share During the Forecast Period
- Audience analysis allows brands to gain a deeper understanding of their current and potential customers to improve marketing strategy, customer experience, and brand perception. With the increasing competition amongst popular streaming platforms, in the United States region, the analytics becomes even tricky.
- Audience analytics are increasingly being used by content companies to know what kinds of video to serve up in the future, based on what consumers watch, when, and for how long. Analytics tools can help predict demand for certain kinds of content around the world. According to Recode, the BBC has used AI to predict where it might find the greatest demand for some of its series, such as “Sherlock.”
- The streaming platforms have gained huge popularity in the United States region and providing the people with personalized content has been proven successful to increase brand loyalty.
- Netflix can mine its subscriber data and viewing habits to inform what its next original production should be, by analyzing subscriber psychographics that it may wish to tap into, as well as genre preferences. According to Netflix, Q1 2016 observed 45.71 million of Netflix Paying Subscribers in the United States region which jumped to 60.23 million in Q1 2019.
The audience analytics market consists of several major players. In terms of market share, few of the companies currently dominate the market. With the importance of audience analytics recognized by the video streaming platforms, it has emerged as a lucrative market. With the new market entrants, the market is moving towards fragmentation.
- November 2017 - JCDecaux, and Neustar, Inc., a provider of real-time information services, announced a partnership that employs Neustar’s customer intelligence and activation solutions for the purposes of providing unprecedented Out-of-Home media analysis based on granular consumer attributes and behaviors. Through the partnership, JCDecaux can tap into Neustar’s geographic opportunity analysis to identify areas and activities where out of home communications would be most relevant.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
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- 3 months of analyst support