The TV advertising landscape is undergoing a path-breaking change in recent times. According to recent reports, 50% homes in America avail either Hulu or Netflix service on top of satellite cable. Additionally, these homes spend on average 5 hours a day watching TV. This is a huge untapped opportunity for advertisers.
TV analytics solutions market helps advertisers monitor and analyze various aspects of TV services related to user behaviour. The analytics solutions market companies offer real-time and aggregating data from various channels including third party CDNs, mobile devices, network applications to provide more insights for advertisers.
TV analytics solution has three main components including frontend analytics, backend analytics and session roaming. The front end analytics provides advertisers with top streaming locations, most popular content, asset management, and session roaming. The backend analytics provides information related to operations and network performance. It provides advertisers insights based on bitrate per session, bandwidth consumption, and session quality.
A major online content producer online recently leveraged Amazon’s AWS cloud platform and spark technology for analytics. The company deployed A/B testing mechanism which compares two different web pages based on performance. The results helped the company finalize everything from title images to homepage layouts, and UI/UX changes for their popular series. The A/B testing also delivered 20% to 30% increase in program viewership.
TV analytics offers a growing control for advertisers in the digital world. Earlier TV ratings simply conveyed demographics. However, modern TV analytics solutions can trace individual user histories. Advertisers today with the help TV analytics solutions have the option of selecting individual user. Their power is expected to grow in the near future as along with demographics, advertisers would also be able to access gender, income, age and more.
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TV Analytics Solutions Market – Overview
The television industry has shifted from provider-driven offerings to consumer-driven offerings. Moreover, emergence of quality standards and technological advancements contribute significantly to meet rising consumer expectations. TV analytics solutions help media companies to monitor and analyze viewer behavior by providing them with accurate results regarding the details such as top streaming locations, popular content, and asset engagement. These solutions also provide information regarding network and operation performance by analyzing the data such as bit-rate per session, bandwidth consumption, and session quality.
Currently companies are spending a large percentage of their total advertising budget on various digital advertising solutions. Companies are focusing on enhancing revenue through advertisement. Television serves as the most prominent sources to reach the large number of audience and potential customers. Companies are spending more on their websites, digital commerce, and digital advertising than other categories. Small & medium enterprises are also shifting from traditional advertising to digital advertising.
TV Analytics Solutions Market – Segmentation
The TV analytics solutions market can be segmented based on component, broadcaster type, end-user, and region. In terms of component, the TV analytics solutions market can be divided into software and services. The software segment can be further bifurcated into on-premise and cloud-based. The cloud-based segment can be sub-segmented into public, private, and hybrid. The on-premise segment is expected to hold a large share of the TV analytics solution market; however, the cloud-based segment is anticipated to expand at a substantial pace during the forecast period. Furthermore, the services segment can be segregated into professional services and managed or outsourced services. The professional services segment can be categorized into implementation & integration, consultation, and operations & maintenance. Based on broadcaster type, the TV analytics solutions market can be classified into public and commercial. In terms of end-user, the TV analytics solutions market can be segmented into large enterprises and small & medium enterprises. The large enterprises segment is projected to constitute a major share of the global TV analytics solutions market.
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In terms of region, the global TV analytics solutions market can be split into North America, Europe, Middle East & Africa, Asia Pacific, and South America. The market in North America is estimated to expand at a significant pace. The region is expected to hold a prominent share of the global TV analytics solution market during the forecast period. Expansion of the market in North America and Europe is due to the increase in spending on technology for advertising of products by companies.
Asia Pacific is expected to create lucrative opportunities for key players operating in the global TV analytics solutions market in the next few years due to significantly rise in urbanization in the region. South Korea, India, Singapore, Malaysia, Japan, Australia, Thailand, China, and Singapore are major countries that boosting the TV analytics solutions market in the region. The market in Asia Pacific, Middle East & Africa, and South America is projected to expand at a substantial pace due to increase in number of small & medium enterprises.