The Global Mobile Analytics Market is expected to witness a CAGR of 6. 5% over the forecast period from 2021 to 2026. The market’s factors include the data explosion from e-commerce and rising smartphone usage that generate enormous data.
New York, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Mobile Analytics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06177318/?utm_source=GNW
With mobile analytics data, product and marketing teams can create positive feedback loops. As they update their site or app, launch campaigns, and release new features, they can test the impact of these changes upon their audience. Based on how audiences respond, teams can make further changes that yield even more data and lead to more testing. This creates a virtuous cycle that polishes the product.
Compared to traditional web-based analytics platforms, mobile analytics, which majorly depends upon apps, are far more convenient and accurate. As most mobile analytics tools use an SDK to track user activity, vendors can use various codes to track custom events, depending on the operating system.
Unlike web analytics, SDKs do not depend on cookies to uniquely identify a user. Hence, compared to several other approaches, it is more likely that mobile analytics will generate more accurate results. Also, compared to general desktop usage, mobile phones are responsible for most internet traffic globally.
The retail sector, especially e-commerce operations, is expected to demand mobile analytics solutions, closely followed by the banking sector. The increasing demand for automation in the BFSI sector and efforts of the e-commerce companies to create personalized shopping experiences are expected to draw considerable revenues to the mobile analytics market globally.
The COVID-19 pandemic impacted multiple sectors, including mobile marketing and advertising. In the short term, companies have curtailed their marketing spend till the situation stabilizes. However, in the future, the shift of advertising budget from traditional marketing like print and outdoor activities to digital and mobile marketing would witness a spike with end-users being indoors and preferring to consume content primarily on their mobile phones or TV. Social distancing, thus positively impacting the usage of mobile marketing analytics.
Moreover, there has been an increased dependency on mobile apps to perform users’ day-to-day tasks. These apps majorly utilize a tremendous amount of data. To efficiently analyze and manage this humongous data, a robust analytics solution is required. This is where data analytics plays a very crucial role. It assists various companies in getting data-driven insight from these apps.
Key Market Trends
Retail Industry Holds Significant Market Share
Retail management has become an intricate process with customer satisfaction at its central theme, shifting from focusing on products. Shopper expectations are increasing where they expect personalization at all levels, faster fulfillment options, and unified omnichannel experiences. Competitive pressures are also increasing, and the definition of commerce continues evolving.
Retailers are using mobile as a powerful marketing platform. The retail sector, especially e-commerce operations, is expected to be the primary demand for mobile analytics solutions. Efforts of e-commerce companies to create personalized shopping experiences are expected to draw considerable revenues to the mobile analytics market globally.
The growing retail and e-commerce sector in India offers a massive market for mobile analytics vendors. With the advancement in internet infrastructure in the country, the sectors will further expand hugely, providing a massive opportunity for the local vendors. Cities like Delhi, Mumbai, Bangalore, and Hyderabad are becoming major hotspots for e-commerce and retail-driven mobile analytics solutions.
For instance, in India, the retail industry has emerged as one of the dynamic industries, which are anticipated to reach nearly USD 1.3 trillion by 2024, according to the India Brand Equity Foundation. Furthermore, the organization has outlined in its July 2021 publication that the industry was valued at USD 883 billion in 2020.
Vendor activity in the market suggests growing partnerships between retailers and mobile analytics platforms to support the evolving need of new customer acquisition and existing customer retention, amongst various others. Such long-term partnerships have contributed substantially to the growth of the studied market.
India Occupy Significant Market Share
The Indian mobile analytics market is expected to grow significantly over the forecast period owing to the surge of smartphone device utilization and an increasing number of mobile business emails. According to a TRAI report, India’s telecom subscribers’ base reached 1183.4 million at the end of January 2021. The overall Tele-density in India increased from 86.38 at the end of December 2020 to 87.01 at the end of January 2021.
According to the Indian government, India is now the second-largest mobile phone producer after China. Due to this, the country has also been witnessing a decrease in smartphone prices, which further increases smartphone penetration.
In India, mobile data consumption has grown 24 times in the past five years and is further expected to multiply by four times by 2020. It is also expected that by 2022, mobile data subscriber penetration in India may have soared to 80%, which means telecom companies will have to measure per-subscriber usage increasingly.
Companies with a large audience differentiate their offering, replicating the success of ’super-apps’ seen elsewhere in Asia. For example, GoJek and Grab are offering users across South Eastasia a range of features, such as ride-hailing, payment systems, food-delivery, e-commerce, publishing, and their business model, is one that is catching on in the Indian market. For instance, Truecaller – an app that allows its 140 million daily active users to screen calls from strangers and bots – plans to implement a credit loaning system. Users based in India can also use the app to record calls, send messages, and complete payments.
Furthermore, most of India’s digital ad spend was mobile-focused before the coronavirus pandemic, and this global event has acted as a catalyst for this trend. Between 45-55% of organizations’ digital advertising budgets are spent on mobile, which is anticipated to increase to more than 65% by 2022. As per Exchange4Media, ad budgets invest heavily in rich media, social media marketing, and paid search. Such trends are expected to drive further the growth of the market studied.
The mobile analytics market is dominated by a few giants, like Google, Facebook, and OpenText Corporation, which occupy most of the market share. They are emphasizing R&D activities related to mobile analytics. Some of the recent developments in the market are:
June 2021: GoodData launched its new platform production editions, GoodData Cloud Native (GoodData.CN). GoodData.CN Production is the solution that gives customers robust, enterprise-grade analytics delivered as a microservices-based analytics stack. The product is offered in three plan options: Free, for simple production deployments; Growth, for self-service analytics; and Enterprise, for large production deployments with enhanced features.
February 2021: AppsFlyer announced the launch of PredictSK, a new predictive analytics solution that is expected to be a part of its robust SKAdNetwork suite, SK360. The new product would be available after Apple starts enforcing its AppTracking Transparency framework in early spring. The SK360 suite would continue to support the ecosystem throughout Apple’s upcoming privacy updates.
The market estimate (ME) sheet in Excel format
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