Audience analytics offers technical analytical data using set of tools providing opportunity to understand customer demand through open management of products and services. Consumer perceptions can be understood using social media analysis techniques to enhance business, their services and product portfolio worldwide. Furthermore, audience analytical tools provide users to mine and encrypt enormous data. Additional benefits offered by audience analytics include hassle-free documentation; better understanding of customer demographics and more accurate advertising that are likely to be projected as the major factors influencing the market growth during the forecast period 2019–2026.
The Global Audience analytics market is segmented by component, organization, application, end user and region.
On the basis of Component, the global audience analytics is bifurcated into solution and services. Audience analytics is expected to witness significant growth due to the assistance offered while planning, deploying, upgrading and maintaining audience analytics solutions. Additionally, wide range of services offered by audience analytics services involving trained resources, cost effectiveness, all time customer service availability and other related support required by enterprises is likely to fuel the market growth.
By organization, the global audience analytics is segmented into SMEs and Large Enterprise. Quick business decisions, customer satisfaction and immediate response are the key features required to expand the business for desired outcomes. Hence, to gain a competitive edge enterprise are expected to embrace on audience analytics solution and services for quicker and timely decision.
Based on application, the global audience analytics is segregated into customer experience management, sales and marketing management, and competitive intelligence. The application segment is expected to witness considerable growth in audience analytics market owing to growing competition among enterprises. Competitive intelligence helps to make better decision and enhance organizational performance.
By end user, the global audience analytics is segmented into media & entertainment, IT& telecom, government organizations, and others. Engagement of businesses with customers through different social media platforms, connecting products with e-commerce sites are gaining insights into customer behavior this is expected to drive the demand for the retail sector in audience analytics market.
Geographically, the audience analytics market is segmented to North America, Europe, Asia Pacific, and Latin America, Middle East and Africa (LAMEA).
North America is expected to witness significant growth in audience analytics market on account of adoption of advanced business intelligence technologies solutions and increasing popularity of social media in the region. Furthermore, increase in the number of internet users in this region drives the growth of the market.
While Europe is expected to maintain its dominance in the forecast period due to factors such as increasing penetration of mobile devices and social media in the region that has emerged as significant factor impacting the growth of audience analytics market.
Asia Pacific is expected to witness dynamic growth owing to the factor of increasing technological advancements and growing opportunities across different segments is expected to foster the growth of audience analytics market. Furthermore, rapid increase in social media users in the region is likely to propel the market growth.
Middle East and Africa is expected to witness a moderate growth for this market, due to its gradually rising demand for social media in this region.
Some of the prominent players in Audience analytics market are Adobe (U.S.), Oracle (U.S.), IBM (U.S.), Google (U.S.) and others.