Global Statistics Representing TV Analytics Market Scenario
Technology continues to evolve rapidly on account of changing consumer preferences. TV analytics offers the ability to improve the relation between network performance and customer satisfaction. It help media companies to ferret out new ways and attract viewers by understanding what consumers are watching and what they prefer to watch. The rising usage of social media platforms for branding and advertising of product and services are likely to drive the demand for TV analytics market during the forecast period, where social media platforms offer marketers and media companies to better understand the connection between viewers and brands by garnering large audience at lower costs.
The global TV analytics market is expected to grow at a CAGR of 18.2% during the forecast period, 2019–2026.
The global TV analytics market is segmented by component, deployment mode, application, and transmission type.
The services segment is expected to witness significant growth in the TV analytics market among other component segments as analytical solutions have become an integral part of business processes. Moreover, owing to the rising number of connected devices is boosting the demand for personalized content delivered across the multiple distribution channels and devices for the viewers. Thus, to offer viewers with immersive experience, the media and entertainment companies shift towards adopting analytical software and solutions providing support and maintenance services.
The OTT segment, among other transmission types, is anticipated to grow briskly during the forecast period (2019–2026) due to the rising demand for personalized content among the viewers. OTT platform developers utilize advanced analytics integrated with AI and machine learning technology to discern viewer’s behavior and choices over personalized TV content. For instance, Netflix, with a subscriber base of 115 million users, utilizes Bigdata to enhance the quality and stability of its video and evaluate customer entertainment preferences and their viewing patterns.
Geographically, the TV analytics market is segmented into North America, Europe, Asia-Pacific, and Latin America and the Middle East and Africa (LAMEA).
North America is expected to witness dynamic growth for the TV analytics market due to the viewers' preference for digital originals offered through several streaming platforms such as YouTube, Hulu, and Netflix, among others. Netflix utilizes algorithms & analytical solutions to gauge viewers predilections. Thus, to increase the usage of analytics solutions in the entertainment industry for attracting users the TV analytics market is expected to witness exponential growth in the following region.
Europe is expected to witness significant growth in the TV analytics market, owing to the direct-to-consumer (DTC) and business-to-business (B2B) brands primarily focusing on investments to drive the growth of performance-driven TV advertising. For instance, in January 2019, Admo.tv raised a Series B funding round of USD 6.72 million led by Runa Capital to expand its presence in the U.K.
Asia-Pacific is expected to grow at an accelerated pace during the forecast period led by the rapid adoption to digitalization and flexible economic conditions. Moreover, the increasing customer base inclining toward the global content fuels the growth of OTT providers such as HotStar, Netflix, Amazon Prime Video, and others. Besides, developments in the field of advanced analytics to enable better decision making. For instance, in June 2018, Kantar launched ‘Kantar Brand Growth Lab’ – a research and development lab in Asia, focusing on advanced analytics. The company has joined forces with Singapore’s Economic Development Board (EDB) aiming to convert data into insights to drive customer-centric decision-making and facilitate sustainable growth in the areas such as big data, artificial intelligence, and machine learning.
LAMEA is expected to witness considerable growth for the TV analytics market during the forecast period. For instance, according to Parrot Analytics, Latin America is the frontrunner in the TV industry with the presence of local content producers across several countries in the region.
Some of the prominent players in the global TV analytics market are 605, Admo.TV, Alphonso Inc, Amobee, Inc., AnalyticOwl, BLIX, BrightLine, Clarivoy, Conviva, DC Analytics, Edgeware AB, FourthWall Media, Google, H-Tech, IBM Corporation, iQ Media, iSpot.tv, Parrot Analytics, Realytics, SambaTV, Sorenson Media, The Nielsen Company, TVbeat, TVSQUARED, and Zapr Media Labs.
TV Analytics Market Segmentation
By Deployment Mode
By Transmission Type
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