Asia –Pacific App Analytics Market To Observe Exponential Growth By 2020-2025
Global App Analytics Market is valued at USD 1.11 Billion in 2019 and expected to reach USD 3.92 Billion by 2025 with the CAGR of 19.68% over the forecast period.
Rising demands for mobile applications, increasing transformation in digital world, rising advertising efforts through smartphone applications and growing penetration of smartphones in developing and emerging economies are the major factors for driving the growth of Global App Analytics Market.
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App Analytics Companies
Major key players in the App Analytics Market are,
Google LLC
Adobe Inc.
Localytics
Appsee Inc.
IBM Corporation
Clevertap
Mixpanel
Scope of App Analytics Market Report-
App analytics is a technology that captures and extracts data from a webpage, mobile app or web application for the purpose of identification of unique users, tracking their journey and engagement with the app or website, to receive a report of the application’s performance. App Analytics studies user behavior to improve conversion rate.
Analytics provides businesses with unparalleled information and vital insights, allowing them to better understand the hidden lives of application users. Analysis is typically in the form of software, which can be integrated with existing company websites and applications to capture, hoard and analyze data. This data is essential for marketing, sales, and product management teams, who can draw useful strategies from it to make more informed decisions for their businesses. Companies unlock a great deal of opportunities to leverage upon in the business while incorporating app analytics into their business practices. It is a crucial part for Business Intelligence applications for tailoring heading strategies for the firm. App analytics offers a variety of tools to give powerful insights from a bunch of scattered information collected, which are marketing analytics, in-app analytics and performance analytics. With the help of app analytics, companies can focus on customer needs and draw a methodical and organized way to increase its endeavors in customer-focused marketing. It drives the ROI and profitability of the firm by better keeping a track on individual as well as group campaigns to achieve the marketing goals.
Global App Analytics Market is segmented on the basis of type, component, application, deployment and end user. On the basis of type, the market is segmented into Mobile Application analytics and web analytics. On the basis of technology used, the market is segmented into software and services. On the basis of application, the market is segmented into user analytics, behavioral analytics, ad monitoring analytics, marketing analytics, performance analytics, operations analytics, revenue analytics and others. On the basis of deployment of app analytics, the market is segmented into cloud and on premise. On the basis of end user, the market is segmented into BFSI, travel, hospitality, gaming, social media, retail, media, e-commerce, entertainment, IT, telecom and others.
The regions covered in this app analytics market report are North America, Europe, Asia Pacific and rest of the World. On the basis of country level, market of App Analytics is subdivided into U.S., Mexico, Canada, U.K., Germany, France, Italy, China, Japan, South East Asia, Africa, etc.
Key Players App Analytics Market Report-
App Analytics Market report covers major key players in the market like Google LLC, Adobe Inc., Localytics, Appsee Inc., IBM Corporation, Clevertap, Mixpanel and others.
Global App Analytics Market Dynamics-
Rising demand for mobile applications, increasing transformation in digital world, surging advertising efforts through smartphone applications and growing penetration of smartphones in developing and emerging economies are the major factors for driving the growth of Global App Analytics Market. As per government statistics, around 204 billion apps were downloaded in 2019, and there would be over 590 million daily downloads of apps by 2020. Companies have diverted their advertising efforts through apps that help them in gathering response through analytics data at a fast rate. According to the government statistics, there are close to 5 billion mobile users in the world, in which approximately 90% make their purchase decisions through smartphones. In fact, the in-app global expenditure would reach around USD 201.3 billion in the year, 2021. These are the major drivers for the growth of the market. Also, there is a growing investment in analytics by companies. According to a case study presented by Accenture, Tesco, which is world’s largest retailer adopted advanced analytics and captured more than USD 100 million GBP in the operational cost savings. This is another factor driving the market growth.
However, non-uniformity of the information, concerns over data privacy and security on mobile apps and availability of a number of open source alternatives might be a restraining factor for the growth of app analytics market.
There is a surging shift towards customer-oriented and customer-focused marketing to increase ROI and profitability by building a better customer understanding. According to an article published in Harvard Business Review, RBC (Royal Bank of Canada), experienced a huge spike of around 35.4% in its profitability and customer purchase share when it switched its focus from production and distribution to customer needs, guided from data driven analytics. This, along with the increasing trend of BYOD, are the areas that offer lucrative opportunities for the growth of app analytics market.
North America is expected to remain the dominant region in the Global App Analytics Market.
North America is a dominant region at present and is expected to continue to remain so, on account of the advancement in technological upgradations of the countries in the region. The region is pioneer in terms of adopting to the latest technologies and smartphone usage. With a high smartphone penetration rate of around 99.2%, on account of the countries being developed economies is the major reason for the dominance of this region.
Asia Pacific is expected to witness a fastest growth in app analytics market. Many countries lying in APAC region are developing economies that invest a lot of money for upgrading technology in their countries. There is a considerable surge in the use of smartphones and apps with the advent of internet services in the region. These markets are continuously improving their broadband services to support digitalisation. As per Xinhua,2019, China installed high-speed-fibre-optic-trunk cables in an area of around 89997 kilometres to facilitate an uninterrupted network connection. The digital transformation is taking place at a speeding rate in APAC region, as per Jimenez, D.Z., et.al., 2018, digital transformation will contribute in, approximately, 60% of GDP of Asia Pacific region. Growing practise of data analytics also supports the forecast. Hence, the forecast period can witness a major boost in APAC region in the App analytics market.
Key Benefits of App Analytics Market Report-
Global market report covers in depth historical and forecast analysis.
Global market research report provides detailed information about Market Introduction, Market Summary, Global Market Revenue (USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
App Analytics Market Segmentation: -
By Technology: -Software, Service
By Type:- Mobile Application Analytics, Web Analytics
By Application:- User Analytics, Behavioral Analytics, Ad monitoring Analytics, Performance and marketing Analytics, Operations Analytics, Revenue Analytics and others
By Deployment:- Cloud, On premise
By end user:- BFSI, Travel, Hospitality, Gaming, Social Media, Retail & E-commerce, Media & Entertainment, Telecom & IT
By Regional Analysis:- North America, Europe, Asia Pacific, Latin America, Middle East and Africa
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