The various applications using TV Analytics Market include competitive intelligence, customer lifetime management, campaign management, content development, behavior analysis
Selbyville, DE -- (SBWIRE) -- 03/11/2019 -- North America dominates the TV analytics market as a large number of solution vendors including Google and IBM reside in this region. The rising digital transformation, growing demand from tech-savvy customers, improved internet connectivity, and changing preferences toward OTT & IP TV also have a positive impact on the regional TV analytics market growth. The Asia Pacific region is growing at the fastest rate in the TV analytics market due to the changing economic conditions, increasing government investment toward digitalization, and the rising audience inclination toward global content. The demand for OTT providers, such as Amazon Prime Video, HotStar, and Netflix, is rising rapidly in this region.
TV Analytics Market size is poised to grow at a high CAGR from 2018 to 2024 due to rising adoption of social media and social advertising. The intersection between social media and TV operators will enable the advertisers and broadcasters a clear understanding about the connections between the TV viewers and brands driving the market growth.
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The TV industry has transformed rapidly due to the rising digitalization and the changing preferences of TV audiences. Hence, to meet the viewer's demands, TV content developers are working toward developing the content of audience preferences. The TV content providers also prefer real-time decision making to augment viewership, which has led to the enhanced adoption of TV analytics solutions. Furthermore, the rising advent of voice-based systems and AI is also gaining traction in the TV analytics market as they are focused on gaining insights to improve advertising content, creating major growth opportunities.
Content impact, audience characterization, and anomaly detection are the other factors that contribute to the TV analytics market growth. By predicting the enthusiasm for certain content genres between different viewing segments, the operators can optimize their content acquisition strategies. It also improves the operator's understanding of audiences to provide more effective targeted advertisements. It also identifies operational parameters, such as technical or security issues in real-time, allowing effective actions for solving the problem.
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Lack of digital infrastructure mainly in emerging economies is a major parameter that may hamper the TV analytics market growth. Lack of access to devices, network connections, and software possess a threat to the TV analytics market. In the remote areas, over four billion people are still unconnected to the internet. There are also gaps in providing high-speed internet access in the developing nations posing a reduced adoption of social media platforms, which is affecting the market demand.
The market has access to different TV transmission lines including cable TV, Direct-To-Home (DTH) TV, Internet Protocol (IP) TV, and Over-The-Top TV. The OTT segment is anticipated to grow at the fastest rate over the forecast timeline as it provides the customers with a large number of options while giving the advertising and media executives huge amounts of data. OTT also offers greater precision in delivering the right content to the right consumers, allowing the consumers to view high-quality content over their broadband connection. As of 2015, around 70% of the internet traffic in the U.S. was streamed audio and video content, signaling the demand for OTT is growing at a fast pace.
The solution segment holds the largest share in the TV analytics market. As television is going digital, there is a higher requirement for personalized content to reach the audiences, improving customer relationships and leading to a higher adoption rate of TV analytics software. This increasing adoption also contributes to an increasing demand for consulting, support, and maintenance services, driving the services segment growth over the forecast period. These services also assist companies in maximizing the skills of their employees by providing proper training, driving their adoption rate.
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The various applications using TV analytics solutions include competitive intelligence, customer lifetime management, campaign management, content development, behavior analysis, churn prevention, and audience forecasting. The behavior analysis and churn prevention applications are growing at the highest rate with the rising competition as the viewers have a variety of options enabling them to easily change their preferences. The adoption of TV analytics solutions will allow the operators to understand consumer behavior and create an advanced product and programs that match consumer choices.
The TV analytics market includes a large number of solution providers such as Google, IBM, The Nielsen Company, DC Analytics, 605, Amobee, Inc., AnalyticOwl, Sorenson Media, SambaTV, Conviva, Parrot Analytics, Admo.TV, iQ Media, and BrightLine. The companies are adopting partnership and collaboration strategies to survive in the highly competitive market. For instance, in May 2017, Kantar Millward Brown partnered with Samba TV to introduce the industry's most precise and largest single-source platform for measuring television advertising effectiveness.
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