Increase in use of analytics in TV industry, development of Android TV, rise in trend of Subscription on Video Demand (SVoD) platforms, and upsurge in consumer demand for digital original series fuel the growth of the global TV analytics market
PORTLAND, Oregon, April 9, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "TV Analytics Market by Component (Software, and Service), Deployment Model (On-premise and Cloud), TV Transmission Type (Cable TV, Satellite TV/DTH, IPTV, and OTT), and Application (Content Development & Broadcasting, Competitive Intelligence, Churn Prevention and Behavior, Advertising Campaign Management, Audience Forecasting, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global TV analytics industry was estimated at $1.85 billion in 2018 and is expected to hit $6.81 billion by 2026, registering a CAGR of 17.8% from 2019 to 2026.
Drivers, restraints and opportunities
Rise in use of analytics in TV industry, development of Android TV, increase in trend of Subscription on Video Demand (SVoD) platforms, and surge in consumer demand for digital original series drive the growth of the global TV analytics market. On the other hand, lack of digital infrastructure in emerging economies, and dearth of skilled professionals hamper the growth to some extent. Nevertheless, massive growth of content in OTT industry is anticipated to pave the way for multiple opportunities in the near future.
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The software segment to retain its dominance by 2026
Based on component, the software segment contributed to nearly two-thirds of the global TV analytics market revenue in 2018, and is expected to dominate from 2019 to 2026. This is attributed to significant rise in usage of social media and its positive impact on branding & marketing of products The services segment, on the other hand, would cite the fastest CAGR of 19.1% by the end of 2026, as it helps organizations in effectively executing projects, maximizing their resource usage, as well as in streamlining their business operations.
The on-premise segment to maintain the lion's share during the estimated period
Based on deployment model, the on-premise segment held the major share in 2018, garnering nearly three-fifths of the global TV analytics market, owing to its advantageous features and flexible pricing. Simultaneously, the cloud segment would manifest the CAGR of 20.1% throughout the forecast period. Faster and easier services provided by the over-the-top service providers have spurred the segment growth.
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North America to lead the trail till 2026
Based on region, North America accounted for nearly half of the global TV analytics market share in 2018, and is projected to rule the roost during the study period. Increasing requirement of original content has pushed telecom service providers in this province to incorporate digital content in their services which, in turn, has boosted the growth. At the same time, the Asia-Pacific region would portray the fastest CAGR of 23.0% by 2026. This is attributed to a number of factors such as rising number of smartphone as well as internet users, expanding digitization, and globalization motivated policies of governments.
Key market players-
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