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Audience Intelligence Platform Global Market Analysis, Trends, Growth, Research And Forecast 2033
Audience Intelligence Platform Global Market Analysis
According to The Business Research Company's, The audience intelligence platform market size has grown exponentially in recent years. It will grow from $3.7 billion in 2023 to $4.46 billion in 2024 at a compound annual growth rate (CAGR) of 20.7%. The growth in the historic period can be attributed to igital transformation, shift to digital marketing, rise of social media, e-commerce boom, globalization of markets.
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Market Drivers and Trends:
The increasing demand for targeted advertising is expected to propel the growth of the audience intelligence platform market going forward. Targeted advertising refers to the practice of delivering advertisements to a specific audience based on various characteristics, such as demographics, interests, online behavior, location, or other targeting criteria. Targeted advertising relies on audience intelligence platforms to collect, analyze, and interpret data about individuals, enabling advertisers to precisely identify and reach their desired audience based on demographics, behaviors, and interests, thereby optimizing the effectiveness of their advertising campaigns. For instance, in January 2024, according to a survey of 1000 respondents by Adlucent LLC, a US-based internet marketing service provider, advertisements that are customized to their individual interests and purchasing patterns are preferred by 71% of respondents, while fewer ads that are relevant to their needs and interests are preferred by 75% of respondents. Therefore, the increasing demand for target advertising is driving the growth of the audience intelligence platform market.
Major companies operating in the audience intelligence platform market are developing new products, such as location intelligence platforms, to gain a competitive edge in the market. A location intelligence platform (LIP) refers to a system or technology that leverages location-based data to provide businesses and organizations with valuable insights and analytics. For instance, in September 2023, AdSquare GmbH, a Germany-based software company, launched a platform featuring an enhanced user interface and a new feature called location analytics. Location analytics leverages location data to provide businesses with comprehensive footfall insights, including metrics on visits, visitors, frequency, dwell time, peak times, catchment area analysis, audience insights, targeting recommendations, and campaign success measurement. This transformative tool goes beyond traditional analytics, empowering businesses to make data-driven decisions, refine strategies, and enhance customer experiences. The upgraded user interface enhances the existing audience targeting and proximity targeting products, providing an elevated, map-centric experience for advertisers to precisely target audiences and engage with consumers effectively.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
International Business Machines Corporation, Oracle Corporation, Salesforce.com Inc., Adobe Inc., Nielsen Holdings plc, SAS Institute Inc., Cision Ltd., Khoros LLC, Sprout Social Inc., Quantcast Corporation, Runtime Collective Limited, Talkwalker S. à. r.l., Meltwater News US Inc., Lithium Technologies LLC, Crimson Hexagon Inc., Synthesio Inc., Audiense Limited, SpotRight Inc., OnAudience.com, Codec.ai, Demographics Pro Inc., Helixa Inc., Lotame Solutions Inc., Zoomph Inc.
Audience Intelligence Platform Market 2024 Key Insights:
• The audience intelligence platform market is expected to grow to $9.37 billion in 2028 at a compound annual growth rate (CAGR) of 20.3%.
• Rising Demand For Targeted Advertising Fuels Growth In The Audience Intelligence Platform Market
• Location Intelligence Platforms Transforming The Audience Intelligence Platform Market
• North America was the largest region in the audience intelligence platform market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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