The “Global Mobile Analytics Market, By Solution Type (Application Performance Analytics, Mobile Marketing/Advertising Analytics and In App Analytics), By Deployment Type (On-premise and Cloud), By End-use Vertical ( BFSI, Transportation & Logistics, E-Commerce & Retail, Hospitality, Media & Entertainment, Healthcare and Others) and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Global Forecast to 2027”, is expected to be valued at US$ 9200.5 million by 2027, witnessing a CAGR of 17.0% during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.
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)
Application performance analytics
Application performance analytics is a form of mobile analytics solution used to understand performance of the mobile application. The primary objective of application performance analytics is to optimize the application performance and operations by creating various reports based on data transactions and caches, API latency, and carrier network latency.
Mobile marketing/advertising analytics
Mobile marketing analytics is to evaluate performance of in-app marketing. This type of analytics solutions are typically used for optimizing mobile campaigns, understanding ROI of mobile marketing investments, and send personalized advertisement offers based on user interest.
In-app analytics is used to understand behavior of the mobile application. Moreover, it is commonly used to optimize the user acquisition and engagement with mobile application.
Increasing number of small- and mid-sized enterprises (SMEs) and growing demand for subscription-based mobile analytics solutions are expected to propel the global mobile analytics market growth over the forecast period
Constant focus mobile technologies, in order to expand consumer reach across various touch-points combined with increasing investment in digital marketing, especially in mobile platform, and increasing demand for analytics solutions to evaluate the efficiency of digital marketing investments are some of the primary factors driving demand for mobile analytics from small and medium-sized enterprises (SMEs). Moreover, availability of subscription-based mobile analytics solutions and growing conversion rates through mobile applications is expected to boost the demand for mobile analytics solutions from SMEs. Therefore, these factors are expected to drive the global mobile analytics market growth during the forecast period.
Emergence of cloud-based mobile analytics is expected to present lucrative business opportunity
Mobile analytics is segregated on the basis of deployment namely on premise and cloud, of which cloud-based mobile analytics is widely accepted in various industries. Cloud-based mobile analytics provide data security, mobility, scalability, cost reduction and efficiency, extensive control, and competitive edge. Furthermore, cloud-based mobile analytics offers increased collaboration and insight along with sustainability and disaster recovery. Various industry verticals such as BFSI, e-commerce, telecommunications, and retail are preferring cloud-based mobile analytics, owing to its lucrative benefits. This, in turn, is expected to pose lucrative business opportunities for market players over the forecast period.
Market Dynamics- Restraint
Lack of technical expertise in mobile analytics solutions is expected to hinder growth of the global mobile analytics market over the forecast period
Lack of technical expertise with high-end knowledge of mobile analytics solutions and limited opportunity of finding analytical talent from offshore locations are major factors restraining growth of the market. Moreover, organizations across various industries, especially the IT industry is uncertain about investing in mobile analytics solutions, which in turn, is expected to restrain the global mobile analytics market growth in the near future.
Enterprises around various industries are focused on deploying application performance analytics, in order to obtain real-time analytics and understand user engagement with its mobile applications. Moreover, major mobile analytics vendors involved in launching enhance analytics solutions regarding mobile application performance. For instance, in May 2016, Google Inc., a U.S-based technology company, introduced Firebase Analytics, a mobile application analytics solution, with the objective to cater to growing demand for mobile application analytics. The new solution offers various insights on app usage and user engagement. Furthermore, in October 2016, Flurry Analytics launched Crash Analytics 2.0 and Revenue Analytics, a newly added analytics features in its flurry analytics suite, with the objective to expand its mobile analytics product features. The new real-time crash analytics feature delivers various insights about application crashes, including device impact rate, session impact rate and issue occurrence count.
Several key players in the region are focused on addressing privacy policies, in order to deal with concerns regarding security and privacy. Increasing adoption of mobile application, mobile marketing, and mobile analytics, concerns regarding data privacy among consumers have increased significantly. Furthermore, European Commission is focused on development of security structure, in order to protect data of individuals and provide clarity for business progression. For instance, in July 2016, European Commission introduced EU-U.S. Privacy Shield – a framework designed to safeguard transatlantic exchanges of personal data used for commercial purposes between the European Union and the U.S. In September 2016, Webtrends Inc., a U.S based software company specialized in offering mobile analytics solution – secured EU-US Privacy shield certification. Moreover, in August 2016, Google Inc. announced that Google Analytics was adapted to EU-U.S. Privacy Shield framework.
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.
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.