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TV Analytics Forecast Market Overview
The global TV analytics market was estimated at $172.7 million in 2018 and is anticipated to register a CAGR of 20.8% during the forecast period. Successive growth in the digital advertising industry has led to the generation of substantial amounts of data. The need to manage this data and gain meaningful insights regarding consumer ad preferences has led to the rising adoption of analytics. The high accuracy of audience engagement can be gained by the use of TV advertising analytics and thus allowing the TV operators to understand effective levels and potential reach for individual advertisements.
Increasing demand for digital original series and the growing trend of Subscription on Video Demand (SVoD) platforms have further fueled the market growth. Significant demand for various genres and plays available on Over The Top (OTT) platforms such as Netflix and Amazon are further contributing to the development of this market. The global TV analytics market has been segmented on the basis of deployment outlook, application outlook, and regional outlook.
Drivers
On a global scale, the television industry is experiencing significant transformation with respect to consumption habits and technology interaction. The audience is now highly concerned about their interaction with content and advertising. The rise in digitalization and the massive change in viewer preference is expected to play a crucial role in the adoption of analytics solutions.
Being a vital component of TV, Data has become essential for operators to serve the right content to the target audience at the right time. To achieve this, OTT platforms, ad agencies, and broadcasters are adopting data-oriented models to enhance targeting, which in turn impels industry growth. Data capturing technology has opened new avenues for the television industry to encompass advertising, viewer data, and audience measurement on every platform. Moreover, in order to cope with broadcasting challenges, media companies have developed content strategies by scrutinizing the consumption patterns of consumers. Hence, consumer participation via social media platforms, reviews, and surveys have helped in enhancing viewers’ decision in real-time.
Challenges
The television industry has witnessed a decline in linear TV viewership and is thus in need of delivering better relevant and targeting advertisements and content. This challenge has enabled the television industry to embrace a data-based approach to drive growth, thereby boosting the demand for TV analytics. Moreover, the advances offered by analytics in data capturing technology has made it possible to gain access to unlimited data, including customer data, advertising data, and census-level viewership drawn from every device. Such access opens new opportunities for OTT players, broadcasters, and platform providers to understand consumption patterns and gain new insights to develop strategies necessary to engage the audience.
Advertising will continue to be the largest revenue shareholder during forecast period
Advertising garnered the largest revenue for the year 2018 and has been predicted to grow in the near future. TV ads prove effective in reaching a wider audience, constant evaluating is required to extract every single byte of data on how the ad is faring. Such needs have given rise to the use of TV advertising analytics to precisely track and analyze ad performance. The growing need to communicate and reach the target audience efficiently and to ensure better visibility has led to a higher adoption of TV analytics in the advertising segment.
On-premise solutions to maintain the most prominent share
Owing to the advantageous features and flexible pricing, On-premise solutions were seen to held a prominent share in 2018. On-premise solutions for OTT platforms tend to be cost-effective in terms of configuration of equipment and cabling infrastructure. Additionally, under this model, viewers are empowered to decide on the type of content, resulting in more control.
Cloud-based solutions are expected to gain high traction in the TV analytics market as viewers’ demand for entertainment and media is surging on a daily basis. Therefore, to deal with complex and unpredictable challenges based on their demand, cloud solutions offer a high level of flexibility and scalability.
North America is to dominate the market during the forecast period
North America dominated the global market in 2018 and is expected to continue its dominance throughout the forecast period. Increasing investments in developing original content by streaming companies are expected to trigger the growth over the next few years. Furthermore, the requirement of original content has pushed the telecom service providers to incorporate apt digital content in their service offerings. The need to own and monetize this content has enabled them to increasingly adopt analytics in developing ad content.
Key market players
Some of the leading market players included are Amobee Inc.; Adobe Systems Inc.; Edgeware AB; Alphonso Inc.; iSpot.tv Inc.; BrightLine Partners LLC; Blix; Sorenson Media; Conviva AB; 605; Realytics; NicePeopleAtWork (NPAW); and Viaccess and Viaccess-Orca.
Key Benefits for Stakeholders
Key Segments
By deployment outlook (Revenue, USD million, 2014-2025)
By Application Outlook (Revenue, USD million, 2014-2025)
By Regional Outlook (Revenue, USD million, 2014-2025)
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