The mobile application and web analytics market is expected to register a CAGR of 16.4% during the forecast period, growing from US$9.6 billion in 2022 to US$44.0 billion by 2032.
The increased focus on improving customer experience, along with the growing trend towards digitalization, is expected to fuel the expansion of the mobile application and web analytics market. The difficulty of data synchronization, on the other hand, is expected to limit the market expansion of mobile apps and web analytics.
Opportunities would be created by factors such as the growing demand for massive amounts of data analytics and increased use of mobile apps, as a result of the COVID-19 pandemic.
The COVID-19 outbreak has highlighted the real value of data and how analytics can help in pandemic management. Significant outlook for mobile application and web analytics market players can be witnessed as organizations strive for sustainability to withstand the effects of this outbreak.
Notable attempts are being made around the world to use advanced analytics to capture the real-time scenario of a pandemic through mobile apps and online browsing.
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The government, public agencies, and hospitals are using mobile apps and web analytics to interact with the public and raise awareness about necessary precautions during the outbreak, which is further expected to create opportunities for mobile app market players and web analytics.
Businesses and media stakeholders are exploring new ways to communicate with their audience and have resurrected their business strategy through social media. Hence, the adoption of mobile apps and web analytics is expected to increase over the forecast period.
Companies would focus on customer experience management and measure it using a single perspective of customer interactions. Customer journey management, social media management, mobile applications and online data management would be useful for activities such as reporting detailed and real-time engagement analysis based on customer behavior . Although many mobile apps and web analytics verticals are experiencing a decline in product demand, there are a few verticals that are seeing an increase in product demand.
For example, as millions of workers work from home, the adoption of Microsoft Teams and Zoom Meeting has exploded around the world. Online streaming services have also seen a significant increase in their subscriber base in North America, Europe and APAC.
People are living in social isolation because of Covid-19, with the majority choosing to buy their daily supplies through an online e-commerce site. Hence, the demand for analytics is increasing to estimate the future demand of e-commerce platforms.
The solution industry is an important component of the mobile application and web analytics market that helps marketers understand customer experience management. Data analysis, data discovery, data visualization, and data management are all part of mobile apps and web solutions. Organizations struggle to manage this massive amount of data, which reduces productivity and business revenue.
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Over the projected period, the cloud deployment model is expected to increase at a faster CAGR. Cloud-based solutions are gaining traction in the mobile application and web analytics market due to various advantages including cost management, resource sharing, and reduced deployment time. Deployment in the cloud offers advantages in terms of flexibility, scalability and cost-efficiency, which allows enterprises to better control the server, infrastructure and systems, thus improving the growth prospects of the mobile application market and of web analytics.
KEY POINTS TO REMEMBER:
In component industry, marketing attribution software market solution is expected to flourish at the fastest CAGR of 16% till 2032.
With a CAGR of 16.2% through 2032, Cloud is expected to witness significant growth in the deployment mode segment of the marketing attribution software market.
The US marketing attribution software market size is expected to reach US$15.3 billion by 2032, growing at a CAGR of 16.2% during the forecast period.
China is expected to reach a market size of US$3.1 billion in marketing attribution software by 2032, growing at a CAGR of 15.7% during the forecast period.
The UK marketing attribution software market is expected to reach US$1.9 billion by 2032 growing at a CAGR of 15.3% over the forecast period.
Japan is expected to have a market size for marketing attribution software of US$2.5 billion by 2032, growing at a CAGR of 14.6% during the forecast period.
By 2032, South Korea is expected to reach a market size of US$1.6 billion in marketing attribution software, growing at a CAGR of 13.8% during the forecast period.
COMPETITIVE LANDSCAPE:
Leading solution providers in the mobile application and web analytics market include
• MICROSOFT
• GOOGLE
• ORACLE
• SAP
• AWS
•IBM
• TERADATA
• ADOBE
• SAS INSTITUTE
• MICROFOCUS
RECENT DEVELOPMENT:
IBM and Siemens will collaborate to create a service lifecycle management solution in June 2020. To continually improve product performance, maintenance and operations, the solution integrates aspects of Siemens’ Xcelerator line with IBM Maximo. Additionally, the system enables OEMs to gain valuable data on the performance, maintenance and failures of assets in the field.
Teradata announced a series of updates to its Teradata Vantage solutions as a service on public cloud providers Amazon Web Services (AWS) and Microsoft Azure in June 2020. Teradata users can now store data separately and only in when needed with the new service. The service enables Teradata cloud users to tailor functionality and performance to a variety of business requirements.
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