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Global Product Analytics Market (2021 to 2026) - Rising Demand for Real-time Analytics Solutions Presents Opportunities

·10-min read

Dublin, Nov. 05, 2021 (GLOBE NEWSWIRE) -- The "Product Analytics Market with Covid-19 Impact Analysis by Component, Mode (Tracking Data, Analyzing Data), End User (Sales & Marketing Professionals, Consumer Engagement), Deployment Mode, Organization Size, Vertical, & Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global product analytics market size to grow from USD 9.6 billion in 2021 to USD 25.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 21.3% during the forecast period.

Various factors such as growing need to improve customer behavior management to deliver personalized recommendations of products, increasing demand for advanced analytics tools to ensure market competitiveness, and growing adoption of big data and other related technologies are expected to drive the adoption of product analytics solutions and services.

COVID-19's global impact has shown that interconnectedness plays an important role in international cooperation. As a result, several governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI. Advanced analytics and AI are invaluable to organizations managing uncertainty in real-time, but most predictive models rely on historical patterns. The use of advanced analytics and AI has accelerated in the COVID-19 pandemic period. This has helped organizations engage customers through digital channels, manage fragile and complex supply chains, and support workers through disruption to their work and lives. At the same time, leaders have identified a major weakness in their analytics strategy: the reliance on historical data for algorithmic models.

From customer behavior to supply and demand patterns, historical patterns, and the assumption of continuity are empowering the predictive models. Technology and service providers have been facing significant disruption to their businesses from COVID-19. It has become important for product managers to evaluate the critical ways in which the pandemic affects their teams so they can mitigate the negative effects and plan for recovery. Product managers serve at the intersection of different functions. They glue together product, engineering, and design. However, as the COVID-19 has been changing the product landscape, these relationships have gone remote and that is not the only problem teams are tackling. As many of the world's major economies work to address the second wave of COVID-19, it would be an appropriate time to look at how the pandemic has changed product management. Hence, the COVID-19 pandemic has disrupted the global financial markets and has created panic, uncertainty, and distraction in the operations of global corporations.

The cloud segment to have the largest market size during the forecast period

By deployment mode, the product analytics market has been segmented into on-premises and cloud. The market size of the cloud deployment mode is estimated to be the largest and projected to have the highest CAGR during the forecast period. The cloud-based deployment helps businesses more efficiently process and report data findings, enhance collaboration, and enable decision-makers to get faster access to business intelligence leading to its higher adoption in the product analytics market.

The SMEs segment to hold higher CAGR during the forecast period

The Product analytics market has been segmented by organization size into large enterprises and SMEs. The market for SMEs is expected to register a higher CAGR during the forecast period as cloud-based solutions and services help them improve business performance and enhance productivity. Whereas the large enterprises segment is expected to hold a larger market share in the product analytics market during the forecast period due to the affordability and the acceptance of emerging technologies.

Among regions, APAC to hold higher CAGR during the forecast period

APAC is expected to grow at a good pace during the forecast period. Opportunities for smaller analytics vendors to introduce product analytics solutions for numerous sectors have also increased. All these factors are responsible for the expeditious growth of the product analytics market in the region. Companies operating in APAC continue to focus on improving customer services to drive market competitiveness and revenue growth. China, Japan, and South Korea have displayed ample growth opportunities in the product analytics market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Product Analytics Market
4.2 Market, by Vertical
4.3 Market, by Region
4.4 Market, Top Three End-users and Verticals

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Need to Improve Customer Behavior Management to Deliver Personalized Recommendation of Products
5.2.1.2 Increasing Demand for Advanced Analytics Tools to Ensure Market Competitiveness
5.2.1.3 Growing Adoption of Big Data and Other Related Technologies
5.2.2 Restraints
5.2.2.1 Growing Concerns Over Data Privacy and Security
5.2.3 Opportunities
5.2.3.1 Rising Demand for Real-Time Analytics Solutions
5.2.3.2 Product Analytics and Intelligence Tools to Play a Key Role in the Post-COVID-19 Era
5.2.4 Challenges
5.2.4.1 Integration of Data from Data Silos
5.2.4.2 Reluctance to Adopt Advanced Analytical Technologies
5.3 Investments in Analytics
5.4 Acquisitions in the Product Analytics Market
5.5 Revenue Shift - Yc/Ycc Shift for Market
5.6 Patent Analysis
5.6.1 Methodology
5.6.2 Document Type
5.6.3 Innovation and Patent Applications
5.6.3.1 Top Applicants
5.7 Case Study Analysis
5.7.1 How Lendingclub Serves More Customers with Data Insights Backed by Heap
5.7.2 How Onebridge Solutions Used Pendo Feedback to Create the Best Possible Product
5.7.3 Clorox Used Mixpanel for Building a Personalized Experience for Customers to Increase Engagement and Brand Loyalty on the Hidden Valley Ranch Website
5.7.4 Why Hubspot Chose Amplitude for Product Analytics Over a Homegrown Solution
5.7.5 Useriq Provides Bim One with An All-In-One Solution and Improves Nps Response Rates by 5X
5.7.6 Sprint Saw An 18% Average Lift Across Kpi'S with the Help of Adobe Analytics and Target
5.7.7 How Acrolinx Achieved 14.8% Increase in Product and Service Quality with the Right Data by Piwikpro
5.8 Product Analytics: Evolution
5.9 Product Analytics: Ecosystem
5.10 Product Analytics Market: COVID-19 Impact
5.11 Value/Supply Chain Analysis
5.12 Pricing Model Analysis
5.13 Technology Analysis
5.14 Porter's Five Forces Analysis
5.15 Regulatory Implications

6 Product Analytics Market, by Component
6.1 Introduction
6.1.1 Components: COVID-19 Impact
6.2 Solutions
6.2.1 Growing Adoption by Enterprise and with Advancements in Product Analytics Solutions Boost the Growth Rate of Solutions
6.3 Services
6.3.1 Professional Services
6.3.1.1 Growing Requirement for Customized Solutions to Boost the Professional Services Industry
6.3.2 Managed Services
6.3.2.1 Customers with Ongoing Demands and Alterations in the Solutions to Support Managed Services

7 Product Analytics Market, by Deployment Mode
7.1 Introduction
7.1.1 Deployment Modes: COVID-19 Impact
7.2 Cloud
7.2.1 Reduced Operational Cost and Higher Scalability to Enable Growth in Cloud-Based Deployments
7.3 On-Premises
7.3.1 with the Growing Threat of Data Thefts, Some Organizations Prefer Product Analytics Solutions to Remain On-Premises

8 Product Analytics Market, by Organization Size
8.1 Introduction
8.1.1 Organization Size: COVID-19 Impact
8.2 Large Enterprises
8.2.1 Manufacturing and Automotive Verticals to Drive the Adoption of Product Analytics Solutions Across Large Enterprises
8.3 Small and Medium-Sized Enterprises
8.3.1 Robust Cloud-Based Deployments to Lead Small and Medium-Sized Enterprises to Record a Higher Growth Rate

9 Product Analytics Market, by Mode
9.1 Introduction
9.1.1 Modes: COVID-19 Impact
9.2 Tracking Data
9.2.1 Rising Need for Detailed Information and Tracking Metrics Led to the Rapid Adoption of Data Tracking
9.3 Analyzing Data
9.3.1 Rising Need for Data Analysis Owing to Business Intelligence and Product Usage

10 Product Analytics Market, by End-user
10.1 Introduction
10.1.1 End-user: COVID-19 Impact
10.2 Designers
10.2.1 Designers to Rely More on Product Analytics Solutions for Offering Enhanced User Experience
10.3 Manufacturers
10.3.1 Manufacturers Rely on Product Analytics Solutions to Enable Cost-Effective Production Plans and Boost Innovation
10.4 Sales and Marketing Professionals
10.4.1 Advent of Digitalization Across All Verticals to Boost the Deployment and Performance of Product Analytics Solutions in Sales and Marketing Professionals
10.5 Consumer Engagement
10.5.1 Increasing Demand for Enhanced User Experience and Insights to Drive the Growth of the Market by Consumer Engagement Businesses

11 Product Analytics Market, by Vertical
11.1 Introduction
11.1.1 Verticals: COVID-19 Impact
11.1.2 Product Analytics: Enterprise Use Cases
11.2 Banking, Financial Services and Insurance
11.2.1 to Improve Business Performance, Reduce Cost, and Churn with the Help of Product Analytics Solutions
11.3 Retail and Consumer Goods
11.3.1 Adoption of Product Analytics Solutions to Boost Business Decision Performance and Profit Margins
11.4 It and Telecom
11.4.1 Usage of Smartphones, Complexity in Telecom Industry, and Increasing Service Providers Making a Rapid Growth for Market
11.5 Automotive
11.5.1 Adoption of Product Analytics Solutions for Data-Driven Strategies, Cutting Costs, Avoid Risks, and Drive Revenue
11.6 Media and Entertainment
11.6.1 Rising Content Consumption and Digital Entertainment Adoption is Generating Demand for Product Analytics
11.7 Manufacturing
11.7.1 Adoption of Product Analytics to Boost Performance and Improve Decision-Making
11.8 Healthcare and Pharmaceuticals
11.8.1 Real-Time Decision-Making to Provide New Innovative Solutions and Deliver Proper Insights for Patients Led to a Rising Need for Product Analytics Solutions
11.9 Energy and Utilities
11.9.1 Growing Demand for Intelligent Production, Distribution, and Consumption of Energy and Utilities Led to the Growth of Product Analytics Solutions in this Vertical
11.10 Other Verticals

12 Product Analytics Market, by Region

13 Competitive Landscape
13.1 Overview
13.2 Revenue Analysis
13.3 Market Share Analysis
13.4 Company Evaluation Quadrant
13.4.1 Stars
13.4.2 Emerging Leaders
13.4.3 Pervasive Players
13.4.4 Participants
13.5 Competitive Benchmarking
13.6 Startup/SME Evaluation Quadrant
13.6.1 Progressive Companies
13.6.2 Responsive Companies
13.6.3 Dynamic Companies
13.6.4 Starting Blocks
13.7 Competitive Scenario
13.7.1 Product Launches
13.7.2 Deals
13.7.3 Others

14 Company Profiles
14.1 Introduction
14.2 Key Players
14.2.1 IBM
14.2.2 Oracle
14.2.3 Google
14.2.4 Salesforce
14.2.5 Adobe
14.2.6 Veritone
14.2.7 Medallia
14.2.8 Amplitude
14.2.9 Pendo
14.2.10 Gainsight
14.2.11 Heap
14.2.12 Mixpanel
14.2.13 Copper
14.2.14 Useriq
14.2.15 Latentview Analytics
14.2.16 Countly
14.2.17 Plytix
14.2.18 Riskedge Solutions
14.2.19 Kissmetrics
14.2.20 Woopra
14.2.21 Piwik Pro
14.3 Start-Up/SME Profiles
14.3.1 Smartlook
14.3.2 Logrocket
14.3.3 Auryc
14.3.4 Quantum Metric
14.3.5 Cux.Io
14.3.6 Innertrends
14.3.7 Growthsimple
14.3.8 Omnipanel
14.3.9 Productlift
14.3.10 Refiner

15 Adjacent and Related Markets

16 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/qkgnzo

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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