MarketsandMarkets forecasts the global TV Analytics Market to grow from USD 1.9 billion in 2018 to USD 4.2 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 17.4% during the forecast period.
Data analysis has been in practice for a long time, and it has significantly empowered the technology industry. With the increasing data generation in the media and entertainment industry vertical, analytics is rapidly gaining popularity among the media companies in analyzing the data generated from various cross-platform devices to improve, extend, and personalize the TV experience and create value for providers and audience. TV analytics for the media and entertainment companies, along with associated Over the Top (OTT) providers play a key role in augmenting customer experience and eventually accelerating Average Revenue Per User (ARPU). To achieve a better ARPU, content developers are thoroughly monitoring, tracking, and analyzing the customer behavior, relationship with the brand, and the revenue generated over the period to make investment decisions.
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The OTT type is projected to grow at the highest CAGR in the TV analytics market. With the increasing internet penetration and smartphone proliferation, OTT subscription accounts have witnessed a high growth. OTT platform developers use advanced analytics to gauge consumers’ viewing behaviors and curate their programs specifically. The adoption of analytics is expected to grow significantly, as it helps OTT players grow faster and beat the competition with ease. With some of leading OTT providers proactively partnering with data tech firms and AI specialized institutions, the adoption trend would be soaring really high in future.
The churn prevention and behavior analysis application is projected to grow at the highest CAGR in the TV analytics market. The media and entertainment industry vertical has turned infamous for its irregular consumers. Hence, data analytics in the vertical is an attractive bet, owing to its ability to predict audience behavior. Customer support is always challenging, irrespective of the industry, and is the major factor for the growth. With the increasing market competition and content-savvy audiences, preventing the churn has become more challenging. Deploying analytics over the digital content and the platforms helps content developers get a holistic view of their viewers, and furthermore, in developing featured programs and recommending the viewers with the type of content they prefer watching.
The geographic analysis of the TV analytics market has been mainly segmented into 5 regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. North America is expected to be the overall leader in the adoption and implementation of TV analytics software and services, followed by Europe and APAC. High investments in OTT and digital platforms, coupled with the high usage of smartphones and smart TVs, is expected to trigger the market in North America and Europe. Rapid economic developments, globalization, and increasing digitalization are expected to drive the high growth of the TV analytics market in APAC. The market players are expanding their operations in this region to enhance their market share through business expansions and partnerships with the existing players in the region.
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The TV analytics market comprises major solution providers, such as IBM (US), Google (US), The Nielsen Company (UK), Zapr Media Labs (India), Alphonso Inc. (US), TVSQUARED (Scotland), DC Analytics (Germany), Amobee, Inc. (US), 605 (US), Clarivoy (US), TVbeat (United Kingdom), BLIX (Australia), H-Tech (Bulgaria), SambaTV (US), AnalyticOwl (US), Edgeware AB (Sweden), Realytics (France), Sorenson Media (US), FourthWall Media (US), Parrot Analytics(US), iSpot.tv (US), Admo.TV (France), Conviva (US), iQ Media (US), and BrightLine (US).
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