Mobile has become the most consistent customer identifier and can provide more consumer insight than other devices. The global mobile analytics market is expected to exhibit an upswing and grow at a remarkable CAGR of 24% over the forecast period of 2017-2023, asserts Market Research Future (MRFR) in an exhaustive study. The global mobile analytics market is likely to attain approximately USD 5 Bn by the end of 2023.
Growing penetration of mobile devices, the immense popularity of smartphones and the capability of cell phones to connect to the internet has encouraged business owners to increase their presence on the mobile app ecosystem. This has led to a surge in mobile-first strategies by marketers in an aim to capture intelligent insights.
Mobile analytics is leveraged across diverse industry verticals which are guiding the growth of the global mobile analytics market. The industries driving much of the growth of this growth include healthcare, banking, media & entertainment, travel & logistics, retail & commerce, and others.
The proliferation of e-commerce and mobile shopping is a critical factor in boosting the growth of the mobile analytics market. Both SMEs and large enterprises are progressively implementing mobile analytics into the retail sector to improve business outcomes. In the e-commerce sector, mobile analytics is leveraged to gain business insights such as buying habits, preferences, dislikes of consumers, and other vital nuances of consumer behavior.
The emergence of Big Data and its subsequent growth has been a major driver for the growth of the global mobile analytics market. Big data technology helps mobile application developers in understanding the audience by extracting and exploiting the vast amounts of generated through mobile applications.
There are already a growing number of R&D activities focused on mobile analytics. Besides, key vendors in the mobile analytics landscape are increasingly directing their R&D efforts towards addressing the current challenges of mobile analytics and capitalizing on the available opportunities.
However, the available amount of expertise for deploying mobile sites is lacking currently. Also, new techniques of data analysis require different expertise which is not widely available and which might restrain the growth of the market. Heterogeneity of devices and platforms, security concerns are other significant suppresses for the growth of the mobile analytics market.
The global Mobile Analytics Software Market has been segmented based on type, organization size, and industry vertical.
By type, the mobile analytics market has been segmented into mobile advertisement & advertisement analytics, in-app behavioral analytics, and application performance analytics. The mobile advertisement & advertisement analytics segment has been further segmented into campaign analytics, ad attribution analysis, and conversion funnel analysis. The in-app behavioral analytics segment has been further segmented into touch heat maps, event tracking, and user profiling and demographics. The application performance analytics segment has been further segmented into cross-platform analysis, mobile A/B testing, and others.
By organization size, the global mobile analytics market has been segmented into small & medium enterprises and large enterprises.
By industry vertical, the global mobile analytics market has been segmented into retail & e-commerce, media & entertainment, travel & logistics, healthcare, government, BFSI, automotive, IT & telecom, and others.
Asia Pacific, North America, Europe and Rest of the World (RoW) are the critical markets for mobile analytics. North America is the largest market for mobile analytics owing to massive investment in mobile advertising in the region. The developed countries in the region with a high number of mobile users, increasing usage of 4G networks and high popularity of mobile analytics in the region create a conducive environment for the growth of the market in North America. The presence of key players in the regions acts as a bonus for the growth of the market.
Asia Pacific is anticipated to be the fastest growing market for mobile analytics due to the high penetration of mobile devices in the region coupled with huge investments in mobile advertising.
The global mobile analytics market is led by some prominent players such as Microsoft Corporation (U.S.), Adobe Systems Incorporated (U.S.), Google Inc. (U.S.), Flurry (U.S.), Amazon Web Services (AWS) (U.S.), IBM (U.S.), Mixpanel (U.S.), Localytics (U.S.), Comscore (U.S.), and Webtrends (U.S.)
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