The global product analytics market is expected to grow at a CAGR of 19.5% during the forecast period with its market size predicted to reach USD 41.6 billion by 2027. Globally, product analytics industry players are leveraging market growth through offering innovative and advanced solutions, product launches, partnerships, mergers & acquisitions, and geographic expansion. For example, Amazon Go is changing the traditional shopping experience by using analytics to grow sales and consumer involvement.
Large enterprises category held larger share in the product analytics market in 2020
On the basis of enterprise size, the global product analytics market is divided into large enterprises and small and medium enterprises. Among the two categories, the large enterprises category held larger share in the market in 2020. This is attributed to the fact that rapid demand for advanced analytics tools from big firms to stay competitive and expand their market presence.
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On the basis of vertical, the global product analytics market is divided into BFSI, media & entertainment, manufacturing, automotive, healthcare, energy & utilities, government, retail, and others. Of all, the BFSI category held largest share in the market in 2020, owing to the significant shift from traditional banking to digital banking, enhanced consumer service experience, huge demand for personalized banking services, and growing preference of consumers toward digital platforms.
Geographically, North America has accounted for the largest share in product analytics market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed towards the existence of a large number of IT companies, increasing mobile application usage, rapid adoption of technological trends, such as BI, AI, ML, cloud technology, and analytics solutions.
Some of the key players operating in the global product analytics market are Google LLC, Teradata, Adobe Systems Incorporated, Salesforce.com Inc., SAP SE, IBM Corporation, Atlassian, Amplitude, Piwik PRO, Oracle Corporation, Mixpanel, and Plytix.
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The report provides the market value for the base year 2020 and a yearly forecast till 2027 in terms of revenue (USD Million). The report segments the global product analytics market on the basis of offering, solution, deployment type, enterprise size, vertical, end-user, and region.
Global Product Analytics Market Coverage
Offering Insight and Forecast 2015-2027
Solution Insight and Forecast 2015-2027
Deployment Type Insight and Forecast 2015-2027
Enterprise Size Insight and Forecast 2015-2027
Vertical Insight and Forecast 2015-2027
End-User Insight and Forecast 2015-2027
Product analytics Market by Region
Rest of the World (RoW)