Overview and Scope
Audience analytics refers to the process of collecting and analyzing data about a particular audience or group of people to gain insights into their behaviors, preferences, demographics, and interests. These analytics are used to help firms make data-driven decisions to optimize their marketing strategies, improve consumer engagement, customize content or products, and ultimately enhance overall business performance.
Sizing and Forecast
The audience analytics market size has grown rapidly in recent years. It will grow from $5.18 billion in 2023 to $5.86 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to demographic information, previous marketing campaigns, website traffic patterns, social media interactions, customer feedback.
The audience analytics market size is expected to see rapid growth in the next few years. It will grow to $9.46 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to Increasing digitalization, demand for personalization, the growing importance of the customer experience, and the rise of social media and online communities. Major trends in the forecast period include AI and machine learning integration, real-time analytics, cross-channel integration, predictive analytics, personalization at scale.
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Segmentation & Regional Insights
The audience analytics market covered in this report is segmented –
1) By Component: Service, Solution
2) By Application: Sales And Marketing, Customer Experience, Other Applications
3) By End User: Banking, Financial Services, And Insurance, Telecom And Information Technology, Healthcare, Media And entertainment, Retail, Other End Users
North America was the largest region in the audience analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the audience analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in e-commerce activities is expected to propel the growth of the audience analytics market going forward. Electronic commerce, commonly known as e-commerce, refers to the buying and selling of goods and services over the Internet or other electronic networks. E-commerce is on the rise because of the widespread availability of smartphones and internet connectivity, competitive pricing, and convenience for consumers. Audience analytics are used in e-commerce to empower businesses to better understand their customers, deliver personalized experiences, optimize operations, and drive growth in an increasingly competitive landscape. E-commerce platforms use data analytics and algorithms to provide personalized recommendations and offers based on consumers’ browsing and purchasing histories, enhancing the shopping experience. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, total US e-commerce sales were estimated at $1,118.7 billion by 2023, which increased by 7.6% (±1.2%) from 2022, and e-commerce total sales in the USA increased by 15.4% in 2023 from 14.7% in 2022. Therefore, the increase in e-commerce activities is driving the growth of the audience analytics market.
Key Industry Players
Major companies operating in the audience analytics market are Google plc, Microsoft Corporation, Verizon Communications Inc., Alibaba Group Holding Limited, Comcast Corporation, AT&T Inc., Meta Platforms Inc., Tencent Holdings Limited, Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, ViacomCBS Inc., Salesforce.com Inc., Baidu Inc., Experian plc, Snap Inc., Akamai Technologies Inc., JCDecaux, Nielsen Holdings plc, Roku Inc., SAS Institute Inc., Pinterest Inc., Acxiom Corporation, Comscore Inc.
The audience analytics market report table of contents includes:
1. Executive Summary
2. Audience Analytics Market Characteristics
3. Audience Analytics Market Trends And Strategies
4. Audience Analytics Market – Macro Economic Scenario
5. Global Audience Analytics Market Size and Growth
…
32. Global Audience Analytics Market Competitive Benchmarking
33. Global Audience Analytics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Audience Analytics Market
35.Audience Analytics Market Future Outlook and Potential Analysis
36. Appendix
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