Audience Analytics Market by Solution, Service (Professional and Managed), Application (Sales and Marketing Management, Customer Experience Management, and Competitive Intelligence), Organization Size, Vertical, and Region - Global Forecast to 2023
Growing focus on competitive intelligence, and increasing user engagement on digital platforms are expected to drive the audience analytics market
The audience analytics market size is expected to grow from USD 3.61 billion in 2018 to USD 6.30 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.8% during the forecast period. Increasing need to improve the audience experience, and targeting the right audience for successful marketing campaigns and advertising are the major growth factors for the market. However, lack of awareness about the benefits of audience analytics solution could affect the growth of audience analytics market.
Service type is expected to grow at a higher rate during the forecast period
Services are an important part of audience analytics offerings. Audience analytics services provide assistance during the different phases of planning, deploying, maintaining, and upgrading the audience analytics solutions. The various significant benefits of audience analytics services include huge cost savings, trained resources, 24X7 customer service availability, and support to enterprises using the audience analytics solution.
Small and Medium-sized Enterprises (SMEs) is expected to grow at a higher rate during the forecast period
SMEs have realized that immediate response, quick business decisions, and customer satisfaction are the key features needed to expand their business, generate more revenue, and ensure desired outcomes. They face intense competition from large enterprises. Therefore, to gain a competitive edge, SMEs are adopting audience analytics solutions and services that would offer a quicker response, timely decisions, and customer satisfaction.
North America is expected to hold the largest market size, and Asia Pacific (APAC) to grow the fastest
North America is expected to hold the largest market size during the forecast period, as organizations are shifting toward new and upgraded technologies with the increasing adoption of digital business strategies. Furthermore, organizations have invested in advanced technologies to gain a competitive advantage and improve business operations. APAC is expected to be the fastest-growing region in the global audience analytics market, owing to the positive economic outlook, and increasing spending on Information Technology (IT) infrastructure and digital marketing tools.
The break-up profiles of primary participants are given below:
By company: Tier 1 – 43%, Tier 2 – 35%, and Tier 3 – 22%
By designation: C-level – 60%, Director level – 25%, and Others – 15%
By region: North America – 44%, Europe – 25%, APAC – 21%, and RoW – 10%
The following key players in the ATS market are profiled in the report:
1. comScore (US)
2. Adobe (US)
3. Oracle (US)
4. IBM (US)
5. Google (US)
6. Unifi Software (US)
7. SAS (US)
8. Akamai (US)
9. Cxense (Norway)
10. NetBase Solutions (US)
11. Cadreon (US)
12. Socialbakers (Czech Republic)
13. Crimson Hexagon (US)
14. Quividi (France)
15. 3DiVi (US)
16. Flytxt (Netherlands)
17. Telmar (US)
18. StoryFit (US)
19. Brandchats (Spain)
20. Verto Analytics (US)
21. AnalyticsOwl (US)
22. Verimatrix (US)
23. Brandwatch (UK)
24. Sightcorp (Netherlands)
25. Lotame Solutions (US)
The audience analytics market has been segmented on the basis of components, applications, organization size, verticals, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overviews, services, key strategies, new product launches, partnerships, agreements and collaborations, business expansions, and competitive landscape associated with the audience analytics market.
The report will help the market leaders/new entrants in this market in the following ways:
This report segments the audience analytics market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across major regions.
This report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
This report helps stakeholders in better understanding the competitors and gaining more insights to better their position in the business. The competitive landscape section includes the vendor comparison of the major players in the audience analytics market.