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International association for the measurement and evaluation of communication
Technology is having a significant impact on the measurement sector with recognition that investment in new technology is the only way companies will be able to compete, according to a report published today.
The findings are shown in the Global Business Insights Study published today (June 13, 2018), the latest industry survey from the International Association for Measurement and Evaluation of Communication (AMEC).
Nearly seven in ten members (68%) agreed that they could only compete effectively by investing in new technology, such as Artificial Intelligence (AI) and software development; 79% of members said AI was something they needed to “take seriously” for their business
Other key trends were:
The survey shows a forecast of strong growth in the media intelligence sector, with 81% of AMEC members reporting that the industry had expanded in the past year and 84% of members expecting growth to continue over the next 12 months.
Richard Bagnall, Chairman of AMEC, commenting on the survey findings about the importance of technology, said: “We have been seeing the media intelligence industry change significantly over the past three years
“Mergers, acquisitions, new technologies and innovative start-ups have transformed the landscape. As the industry has changed, so too is AMEC adapting to support the new requirements of the sector.”
Almost two in three (64%) members report an increase in sales opportunities, with particularly strong activity reported by members operating in Latin America (89%) and Asia Pacific (79%) regions.
Most AMEC members expect the recent high level of rapid industry consolidation to continue over the next two years with 84% four out of five firms (80%) agreeing the recent high level of rapid industry consolidation will continue.
Another key area contributing to the growth story is the reported increased demand for a global footprint solution for international measurement and insight services. Two out of three members (67%) are seeing greater demand for this service.
AMEC’s new Integrated Evaluation Framework is now used by 65% of AMEC members, as the basis for client measurement, business planning and education and training. The Framework has now been translated into 22 languages including Chinese. Almost half (48%) the AMEC members surveyed said they were using the Framework to help establish business credibility with clients.
Other key findings are:
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