Market Insight- Global Mobile Analytics Market
Mobile analytics is the procedure of measuring and analyzing data generated by mobile platforms and properties namely mobile applications and mobile sites. Mobile analytics evaluate users’ interaction with the app along with the app installs, launches, screens, taps, events, flows, app versions, funnel analysis, user retention, and other factors. Similar to web analytics, mobile analytics measures and tracks similar metrics on users such as a number of users using the app and from which countries, whether they found an app on application store search or they followed a link on a marketing campaign, and which devices and versions are being used the most. The application of mobile analytics for enterprises is to evaluate and enhance the effectiveness of their apps and services.
The global mobile analytics market was valued at US$ 2,616.18 Mn in 2019 and is expected to exhibit a CAGR of 17.0% during the forecast period (2019-2027)
Market Dynamics- Driver
- Increasing demand for real-time analytics for personalized ads and growing investment in digital advertising across mobile platforms are expected to drive growth of the global mobile analytics market during the forecast period
Constant growth in online purchases through mobile apps and growing emphasis on increasing customer retention has increased the demand for mobile analytics across numerous sectors. Furthermore, increasing dependence on mobile analytics across organizations to track mobile advertisement effectiveness with real-time data and need to deliver personalized ads targeting individual customers based on their behavior and interests are expected to drive the global mobile analytics market growth during the forecast period. For instance, in April 2014, Localytics, a U.S-based provider of marketing and analytics platforms for mobile and web apps, was selected by Rumble, which is an Israel-based provider of smart mobile publishing platforms, in order to offer real-time analytics solutions to gain insights of its app users.
- Growing mobile users worldwide and increasing investment in mobile apps are expected to propel the global mobile analytics market growth over the forecast period
Increasing number of smartphone users and rising preference for accessing online content through mobile devices has allowed many companies to focus on reaching customers through mobile applications. Moreover, companies are developing mobile application for business where companies can augment performance of apps by partnering with mobile analytics solution providers. Mobile analytics solutions provide various insights such as mobile campaign optimization, user behavior, user preference, user location, and more. For instance, in October 2016, Ecobank Transnational Incorporated (ETI) – a pan-African banking conglomerate – launched Ecobank Mobile App, which is a mobile banking application. The objective of this is to offer mobile banking services to customers across 33 countries in Africa.
North America region dominated the global mobile analytics market in 2019, accounting for 38.8% share in terms of value, followed by Europe, APAC, Latin America and MEA respectively.
Source: Coherent Market Insights
Market Dynamics- Restraints
- Low availability of technical expertise is expected to restrain growth of the global mobile analytics market during the forecast period
Lack of knowledge to use the high-end expertise of mobile analytics solutions and limited opportunity of finding analytical talent from offshore locations are some of the major factors restraining growth of the market. Moreover, companies across various sectors, typically IT industry is undecided on investing in mobile analytics solutions, which in turn, is expected to hinder the global mobile analytics market growth over the forecast period.
- Increasing issues regarding privacy are expected to hamper the global mobile analytics market growth over the forecast period
Increasing privacy concerns regarding customer data is a major concern in the market. This, in turn, is dampening the progression of mobile analytics solutions and thereby restricting the global mobile analytics market growth in the near future.
- Increasing adoption of smart TV is expected to present lucrative growth opportunity for market players
Increasing adoption of smart TVs has accelerated the demand for dedicated analytics solutions to evaluate the efficiency of TV advertisements and performance of TV applications. Moreover, there is increasing demand for analytics solutions among smart TV application developers, in order to attain efficient comprehension of app usage. This, in turn, is expected to provide major market opportunities for mobile analytics solutions providers in the near future. For instance, Samba TV, a U.S-based smart TV apps publishing and advertising company partnered with Filmaster, a Poland-based software company specialized in offering analytics solutions for the entertainment industry, with the objective to include smart TV application analytics solution in its offerings
- Increasing requirement for integrated mobile analytics solutions to pose major business opportunity in the near future
Increasing number of connected personal devices namely laptops, tablets, smartphones, and wearable devices has accelerated the demand for integrated analytics solution to organize data across multiple devices. Integrated analytics solutions analyzes user behavior across various devices and helps to provide highly personalized customer experience. For instance, healthcare companies can deliver customized advertisement to a user connected with a smartphone and wearable device that is designed for fitness purposes, based on real-time factors.
Source: Coherent Market Insights
- Latin America Trends
Various mobile analytics solutions providers are focused on enhancing their presence in the region, in order to cater to increasing demand for mobile analytics solutions in gaming industry. For instance, in May 2016, AppsFlyer, an Israel-based mobile analytics company, expanded its operations in Latin America by opening a new office in Buenos Aires, Argentina, as the gaming industry is booming in the region and the need for mobile analytics solutions is opening up opportunity.
- Middle East & Africa Trends (MEA)
Various international players are focused on acquisition of domestic mobile analytics solutions providers, in order to enhance their market presence in the region. For instance, in May 2016, Cellwize, a Singapore-based mobile optimization startup company, acquired CrowdX, which is a developer of crowdsourcing mobile analytics, in order to enhance its presence in the mobile analytics solutions market in the Middle East.
In Global Mobile Analytics Market, by development type segment, the cloude, sub-segment dominated the global market in 2019, accounting for 68.3% share in terms of value, followed by on premise.
Source: Coherent Market Insights
Key companies operating in the global mobile analytics market are Mixpanel, Inc., Microsoft Corporation, Amazon Web Services Inc., Adobe Systems Incorporated, Webtrends, Inc., Yahoo! Inc. (Flurry Analytics), Localytics Company, International Business Machine (IBM) Corporation, and Tune, Inc.
- Major market players are involved in product and service launches, in order to enhance their market presence. For instance, in December 2019, Amazon Web Services Inc. introduced new analytics capabilities Redshift RA3 to let customers scale compute and store separately.
- Key players in the market are focused on product and services launches, in order to expand their product portfolio. For instance, in June 2017, Adobe Systems Incorporated introduced voice analytics capabilities in Adobe Analytics Cloud.