The global app analytics market is attributed towards increasing demand for web applications and mobile applications, escalating execution of digital transformation plans and extensive utilization of smartphones for the development of advertisement. Moreover, increasing investment accredited towards analytics technology is another factor pertaining towards the growth of app analytics market across the globe.
Insight by Component
On the basis of component, the app analytics market is segmented into software and services. Among these two components, the software segment contributes larger revenue to the market and is expected to witness significant growth during the forecast period. The growth of this segment is attributed towards increasing role of software amongst various business organizations to improve their revenue and performance of various applications.
Furthermore, it enables enterprises for tracking information pertaining to application performance perception of consumers. Moreover, user’s time spent per application, tracing of user’s location and recording the exact number of downloads in terms of mobile applications is another major benefit provided by this segment that is further bolstering the growth of app analytics market across the globe.
Insight by Type
On the basis of type, the app analytics market is segmented into web analytics and mobile analytics. Among these two segments, mobile analytics is expected to witness the fastest growth during the forecast period. Mobile analytics is expanding at a rapid pace due to increasing utilization of these apps by several business organizations for promoting their business activities. Furthermore, these applications enable the organizations for gaining an improved understanding of their user’s perception. These apps also help the enterprises to adapt rapidly changing the environment, helps in improving the revenue of companies, observe marketing campaigns and enhance the satisfaction of customers.
Insight by Application
On the basis of application, the app analytics market is segmented into user analytics, revenue analytics, ad monitoring and marketing analytics and app performance analytics and operations. User analytics is further sub categorized into in-behavioral analytics and touch heatmaps. Ad monitoring and marketing analytics are further subdivided into ad attribution analytics, campaign analytics and conversion funnel analysis. Furthermore, app performance analytics and operation is further sub divided into crash analytics, Api latency and response time and cross platform analysis.
Among all these segments the ad monitoring and marketing analytics segment are expected to witness the fastest growth during the forecast period. The growth of this segment is attributed towards increasing return on investment towards advertising on mobile devices as compared to other advertising platforms. Moreover, the ad monitoring and marketing analytics segment provide features such as attribution is escalating the growth of app analytics market across the globe.
Insight by Vertical
On the basis of vertical, the global app analytics market is segmented into media and entertainment, banking, financial services, and insurance, telecom and IT, retail, logistics, travel, transportation and hospitality and others. Among all these segments, banking, financial services, and insurance are expected to witness the fastest growth during the forecast period. The growth of this segment is attributed towards increasing usage of baking services on mobile devices and increasing adoption of artificial intelligence technology in various countries of Asia-Pacific.
Increasing adoption of artificial intelligence, big data and increasing emphasis of business organizations towards business-driven applications in order to prevent data leakage is the major trend observed in the app analytics market.
The increasing demand for web application and mobile application along with escalating execution of digital transformation strategies is expected to drive the growth of the app analytics market. The providers of app analytics provide software of app analytics that helps the users in managing the financial investment options, financial products, and transaction details. Moreover, app analytics software helps the business organization in detecting the fraudulent dealings along with assisting the banks in categorizing segments of the business.
This further present personalized solutions to the clients that helps in building mobile payments strategy for a longer duration of time along with enhancing the customer relationship management activities of the organizations. These factors are thereby bolstering the growth of the app analytics market in the near future at a high rate. Moreover, increasing usage of smartphones for advertising is another factor that is bolstering the growth of the app analytics market, globally.
The increasing skepticism of the users regarding the security of data is the major factor that is hampering the growth of the app analytics industry. Furthermore, accessibility of open source substitutes is expected to further hinder the growth of the market in the near future.
Globally industry players in the app analytics market are leveraging market growth through technological upgradation, providing strategic assistance to the clients along with mergers and acquisitions in the market. Furthermore, there are several key players in this industry that are focusing upon new product development and partnerships in order to efficiently provide analytics facilities that enable them to create smart applications for their clients.
Geographically, North America has accounted for the largest share in the app analytics market. The growth the market in this region is attributed towards flourishing and well-recognized economies of the U.S. and Canada that enables this region in continuously innovating technology and investing more towards the research and developmental activities.
The North American market is also driven by the extensive and early utilization of various evolving technologies such as big data, mobility, Internet of Things (IoT) and DevOps that are enabling the manufacturers and business organizations to effectively integrate app analytics services and solutions into their business operations.
The market structure for global app analytics market is consolidated structure and the key players in the app analytics market include IBM, Swrve, TUNE, Localytics, AppDynamics, AppsFlyer, Heap, Appsee, Amplitude, Mixpanel, MOENGAGE, Kochava, Taplytics, App Annie, Apptentive, and CleverTap.