App Analytics Market by Component (Software and Services), Type, Application (User Analytics, Revenue Analytics, Ad Monitoring & Marketing Analytics, and App Performance Analytics & Operations), Vertical, and Region - Global Forecast to 2023
The app analytics market is expected to grow at a Compound Annual Growth Rate (CAGR) of 22.1% during the forecast period
The global app analytics market size is expected to grow from USD 1.05 billion in 2018 to USD 2.85 billion by 2023, at a CAGR of 22.1% during the forecast period. The major factors that are expected to drive the growth of the app analytics market include the growing demand of mobile and web apps, increasing use of smartphones for advertisements, and rising implementation of digital transformation strategies. In addition to this, the increasing investment in the analytics technology is one of the most important factors expected to increase the market growth. However, the lack of skilled professionals and non-uniformity of data may hamper the market growth.
Among verticals, the Banking, Financial Services, and Insurance (BFSI) vertical is expected to have the largest market share during the forecast period
App analytics vendors offer app analytics software to manage financial products, investment options, and transaction details. The app analytics software helps organizations detect fraudulent transactions. Further, it assists banks in identifying business segments and offering customized solutions to build a long-term mobile payments strategy. The mobile and desktop-centric user platform has given rise to several mobile applications in the BFSI vertical. App analytics solutions in the BFSI vertical enable developers to gain a better understanding of their customers’ usage data. Various financial entities are using the app analytics solutions to boost the visibility of their apps, thereby increasing the overall customer experience. For instance, Banco Bilbao Vizcaya Argentaria (BBVA) S.A., a multinational banking group based in Spain, offers a complete banking experience to its customers on mobile phones.
Under components, the service segment is expected to grow at a higher CAGR during the forecast period
Services work as a backbone of any organization, because they help deploy and integrate different IT solutions in an enterprise ecosystem. They play a vital role in the app analytics market, as they focus on fulfilling clients’ requirements, such as reduced cost and improved app performance. Additionally, they offer real-time data and assist employees in understanding the optimal use of technologies. IT industry experts offer consultation services and suggest solutions that would assist companies in enhancing the performance of their businesses. Moreover IT services are outsourced to third-party vendors who focus on the pre and post implementation queries of enterprises.
In regions, Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period. This growth in the APAC region is attributed to the fact that it is witnessing a dynamic change in the adoption of analytics solutions and services across multiple verticals. The demand for the analytics solutions and services is growing across the region, due to the increasing volume of data and growing use of digital technologies, Internet of Things (IoT), and connected devices. APAC governments are actively investing in analytics solutions and services, for instance, the Australian government has launched the Commonwealth Initiative, Data Integration Partnership for Australia (DIPA), for building data analytics teams to deliver enhanced, evidence‑based programs, and policies. This is expected to boost the confidence of APAC enterprises to adopt analytics technologies.
In the process of determining and verifying the market size of several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of the profiles of the primary participants is as follows:
By Company: Tier 1 - 30 %, Tier 2 - 40%, and Tier 3 - 30%
By Designation: C-Level - 72%, Director Level - 14%, and Others - 14%
By Region: North America - 57%, Europe - 14%, and APAC - 29%
The app analytics market includes various major vendors, such as Google (US), Yahoo (US), AMAZON (US), ADOBE (US), IBM (US), Segment (US), TUNE (US), Appsee (US), ContentSquare (France), Countly (UK), Swrve (US), Amplitude (US), Localytics (US), appScatter (UK), AppDynamics (US), AppsFlyer (US), Heap (US), Mixpanel (US), Kochava (US), adjust (Germany), MOENGAGE (US), App Annie (US), Apptentive (US), Taplytics (US), and CleverTap (US).
The report includes an in-depth competitive analysis of the key players in the app analytics market and their company profiles, recent developments, and key market strategies. It segments the app analytics market by component (software and service), application, type, vertical, and region.
Reasons to buy the Report:
The app analytics market is segmented on the basis of types, components, applications, verticals, and regions.
The report would help the market leaders/new entrants in the app analytics market in the following ways:
1. The app analytics market’s revenue stream has been estimated based on the revenues (excluding hardware) of vendors who offer analytics solutions and their associated services. The report provides the closest approximations of the revenue numbers for the overall market and its segments.
2. The report helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
3. The report would assist stakeholders in understanding their competitors and gaining more insights to improve their market positions. The competitive landscape section includes competitor ecosystems, new product developments, partnerships, and mergers and acquisitions.