Television Analytics Market 2024 - By Share, Top Companies, Revenue Outlook And Growth Forecast By 2033

The Business Research Company recently released a comprehensive report on the Global Television Analytics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The television analytics market size has grown rapidly in recent years. It will grow from $3.11 billion in 2023 to $3.58 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to the increasing importance of data-driven decision-making, increasing focus on customer lifetime management, prominence of cable TV, improved agility and ROI, and the increasing importance of content development.

The television analytics market size is expected to see rapid growth in the next few years. It will grow to $6.32 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to increasing focus on real-time analytics, growing demand for cloud-based analytics, growth of social media, increasing social advertising, and the rise of streaming services. Major trends in the forecast period include strategic partnership and collaboration, technological advancements in television (TV) data analytics, need for real-time decision support, demand for cross-platform medium, demand for churn prevention and behavior analysis.

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Market Drivers and Trends:

The growing demand for cloud-based analytics is expected to propel the growth of the television analytics market going forward. Cloud-based analytics refers to the process of analyzing data using computing resources and tools hosted on remote servers accessed via the Internet. Cloud-based analytics is rising due to its scalability, cost-effectiveness, and ability to provide real-time insights from vast amounts of data accessible from anywhere. Television analytics is required for cloud-based analytics to leverage its scalable infrastructure for processing and analyzing large volumes of viewership and engagement data in real-time, enhancing decision-making, and optimizing content and advertising strategies. For instance, in December 2023, according to Eurostat, a Luxembourg-based intergovernmental organization, 45.2% of EU enterprises purchased cloud computing services, mostly to host their email systems, store electronic files, and accomplish other tasks. Purchases of cloud computing services by EU enterprises increased by 4.2% in 2023 compared to 2021. Therefore, the growing demand for cloud-based analytics is driving the growth of the television analytics market.

Major companies operating in the television analytics market are focused on developing technologically advanced products, such as an audience analytics tool, to provide detailed insights into viewer behavior and preferences. An audience analytics tool for TV channels is a data-driven platform that analyzes viewer demographics, preferences, and behavior to optimize programming and advertising strategies. For instance, in October 2021, Ormax Media Pvt. Ltd., an India-based media consulting company, launched Ormax Televate. Ormax Televate distinguishes itself as a specialized tool tailored for TV channels seeking to enhance viewership growth through data-driven strategies in the Indian television industry. The tool operates in two key stages: initially providing syndicated data that benchmarks the channel against competitors across crucial metrics like awareness, brand performance, and category needs. Moving to Stage 2, Ormax Televate utilizes strategic analysis, content, and brand analytics, and qualitative research to pinpoint three critical focus areas essential for boosting viewership. This structured approach ensures channels can adopt consumer-centric strategies based on comprehensive insights tailored specifically to their competitive landscape and audience dynamics.

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Major Key Players of the Market:

International Business Machines Corporation, Adobe Inc., TransUnion LLC., Nielsen Company (Holdings) Pty Limited, Sorenson Communications LLC, Comscore Inc., Nexxen International Ltd., Innovid Corp., Ispot.TV Inc., Viaccess-Orca, Conviva Inc., Fourthwall Media Inc., Edgeware AB, Parrot Analytics Ltd., Realytics, Sambatv, Alphonso Inc., Kinetiq TV, DC Analytics, AnalyticOwl, Clarivoy Inc., tvbeat inc., H-Tech, Admo.TV

Television Analytics Market 2024 Key Insights:

• The television analytics market size is expected to see rapid growth in the next few years. It will grow to $6.32 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%.
• Rising Demand For Cloud-Based Analytics Drives Television Analytics Market Growth
• Advancing Viewership Growth Strategies With Ormax Televate In The Television Analytics Market
• North America was the largest region in the television analytics market in 2023

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