Audience Analytics Market Size, Share & Trends Analysis Report By Component (Solution, Services), By Application (Competitive Analysis, Sales & Marketing Management), By Enterprise Size, By End-use Industry, By Region, And Segment Forecasts, 2023 - 2030

Audience Analytics Market Size & Trends

The global audience analytics market size was estimated at USD 4.16 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 11.8% from 2023 to 2030. The rise of social media and the increasing demand for focused marketing are pushing the growth of the industry. These tools provide essential data on buyer patterns, preferences, and population trends, enabling companies to optimize advertising campaigns and enhance customer loyalty. The increased emphasis on tailored and data-driven marketing tactics drives audience analytics adoption. The rise of digital platforms has created a vast landscape of consumer data. Thus, companies across diverse sectors have capitalized on this data to gain an overview of their target consumers. The rising complexity of consumer behavior across various interfaces, such as web pages, mobile apps, social networks, and IoT devices, needs advanced audience analytics tools that are able to collect, analyze, and interpret these diverse sources of data.

The COVID-19 pandemic had a positive impact on the market. With the shift to digital platforms, there is a growing demand for audience analytics solutions to assist organizations in understanding their customers' behavior and preferences. COVID-19 has increased the importance of customer service, leading firms to enhance their adoption of existing customer service trends ranging from contactless transactions to personalized customer experiences. According to a SAS study, one in every seven people were new users of digital platforms, with 70% planning to continue using the platform. Three-fifths (61%) of clients would pay more if the company provided an excellent business experience during the pandemic.

End-use Industry Insights

Based on end-use industry, the media & entertainment segment held the largest revenue share of 25.0% in 2022. Media and entertainment industry includes numerous sub-sectors like television, publishing, the internet, advertising, gaming, and many more. Hence, the industry has access to an enormous amount of data. Audience analytics in this industry has multiple applications for understanding the audience's response toward content, tracking viewer preference, predicting campaign success, advertising, targeting audience, and more. COVID-19 confined people to their houses, using television, laptops, and mobiles. The increasing use of the internet significantly raised content consumption. Over-the-top (OTT) platforms were highly benefitted during the period of lockdown. It led to the gathering of a large amount of data.

The IT & telecommunication segment is expected to grow at the highest CAGR of 14.6% during the forecast period. The evolution of 5G technology and the Internet of Things (IoT) has intensified the complexity of data streams, propelling the demand for more sophisticated analytics solutions capable of handling real-time, high-volume data. With the continuous advancements in machine learning, artificial intelligence, and big data technologies, audience analytics in IT and telecommunication is advancing toward more predictive and prescriptive analytics, empowering companies to anticipate customer needs, personalize services, and optimize network performance.

Component Insights

Based on component, the market is segmented into solution and services, and the solution segment held the largest revenue share of 66.8% in 2022. The rise in e-commerce platforms and increasing internet use for social media, digital marketing, and other reasons have contributed to the growth of the market. COVID-19 accelerated digital transformation by shifting the retail model from brick-and-mortar to e-commerce. With social distancing and lockdown measures, many businesses moved online operations to continue serving their customers. This sudden shift led to the rapid adoption of digital technologies, such as e-commerce platforms, remote collaboration tools, and cloud computing services.

The services segment is projected to grow at the fastest CAGR of 13.9% over the forecast period. These services encompass a spectrum of offerings, including consulting, integration, support, and managed services. They cater to the diverse needs of businesses aiming to harness the power of audience data effectively. The surge in demand for these services is primarily driven by the complexity of data analytics and the need for expertise in interpreting and applying insights derived from audience analytics tools.

Regional Insights

North America dominated the market with the largest revenue share of 29.9% in 2022. The competitive environment of the region's marketplaces, particularly in retail, media, and advertising industries, is driving the demand for audience analytics solutions. Furthermore, the stringent regulations regarding privacy and an increasing focus on consumer data security have assisted in the proliferation of audience analytics tools that emphasize data security adherence.

Asia Pacific is expected to grow at the fastest CAGR of 14.5% during the forecast period. The region's expansive population and rapid digital transformation have significantly increased the volume of data generated, presenting a vast opportunity for audience analytics solutions. The rising penetration of smartphones and internet connectivity across countries in Asia Pacific has fueled the proliferation of digital platforms, leading to a wealth of diverse consumer data. This influx of data has catalyzed the demand for sophisticated audience analytics tools to derive valuable insights into consumer behavior, preferences, and purchasing patterns.

Application Insights

Based on application, the market is segmented into competitive analysis, sales marketing management, and customer experience. The customer experience segment held the largest revenue share of 41.9% in 2022. Audience analytics help analyze customer behavior, feedback, and preferences to gain valuable insights into what customers want and need and design their products, services, and marketing efforts accordingly. It can help businesses identify areas of their customer experience that are causing frustration or dissatisfaction, such as long wait times, confusing interfaces, or inadequate support.

Moreover, it helps recognize which features or services are most important to their customers and prioritize investments accordingly. For instance, OTTO, a Europe-based e-commerce company, partnered with Adobe to access Adobe’s Customer Journey Analytics. OTTO already utilized Adobe Analytics and opted to switch primarily because Customer Journey Analytics provides greater flexibility and deeper analyses. The partnership helped OTTO gain more data sources, parameters, and values, increase sales, and deliver the desired product information to the customers.

The sales and marketing segment is projected to grow at the fastest CAGR of 15.3% over the forecast period. The convergence of digital advancements and the proliferation of online platforms has generated an unprecedented volume of consumer data. This influx has created a pressing need for sophisticated audience analytics solutions tailored specifically for the sales and marketing segment. Simultaneously, the growing importance of data privacy and ethical use of consumer data has led to the development of audience analytics solutions that prioritize compliance, thereby ensuring the responsible handling of sensitive information.

Enterprise Size Insights

Based on enterprise size, the large size segment held the largest revenue share of 56.2% in 2022. By using audience analytics, large enterprises categorize their customer base into segments based on demographics, behaviors, interests, etc. By doing so, they create targeted marketing messages, leading to more effective campaigns and higher engagement rates. Audience analytics help large enterprises identify trends and patterns in customer behavior, empowering them to make data-driven decisions regarding product development, marketing strategy, and other critical business areas. Large organizations like IBM, Amazon, Adobe, Audi, and many others use audience analytics to enhance their offerings.

The SME segment is expected to grow at the fastest CAGR of 13.0% during the forecast period. As SMEs are witnessing vital digitalization and providing online services, they are expected to gather a large amount of data. By leveraging audience analytics, SMEs understand their target audience and their behaviors, preferences, and needs. This information is used to develop targeted marketing campaigns, improve product development, and enhance overall customer experience. Additionally, audience analytics help SMEs optimize their sales strategies by identifying the most promising leads and critical trends in customer behavior.

Key Companies & Market Share Insights

The competitive landscape of the market is fragmented, having a number of global as well as local players. The key participants are undertaking strategic initiatives such as collaboration, partnership, expansion, and product launches. In October 2022, Oracle expanded Oracle Unity, a Customer Data Platform (CDP), by adding 15 baseline artificial intelligence (AI) models. It helps process data to provide insights predicting behaviors or providing next-step recommendations. Oracle Unity now can enable organizations to gain actionable and real-time insights, gain new audiences, and personalize customer experience throughout their journey.

Audience Analytics Market Report Scope

Global Audience Analytics Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global audience analytics market report based on component, application, enterprise size, end-use industry, and region:

• Component Outlook (Revenue, USD Million, 2018 - 2030)

  • Solution

  • Services

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Competitive Analysis

  • Sales & Marketing Management

  • Customer Experience

• Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

  • Large Size Enterprises

  • Small and Medium Sized Enterprises

• End-use Industry Outlook (Revenue, USD Million, 2018 - 2030)

  • IT & Telecommunication

  • Healthcare

  • Retail & E-Commerce

  • Automotive & Transportation

  • Media & Entertainment

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Chile

  • Middle East & Africa

    • UAE

    • Saudi Arabia

    • South Africa