Dublin, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The "Global App Analytics Market by Offering, Type (Mobile Apps and Web Apps), Application (Advertising & Marketing Analytics, App Performance & Operations Management, Conversion Tracking, User Analytics), Vertical and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
In a rapidly evolving digital landscape, the global app analytics market has emerged as a pivotal force, boasting a valuation of USD 6.3 billion in 2023, with projections soaring to USD 15.7 billion by 2028, encapsulating a remarkable CAGR of 20.2%.
App analytics has assumed a crucial role, offering organizations invaluable insights into the intricate dynamics of performance, usage patterns, and user behaviors within their mobile applications. This critical data arms businesses with actionable intelligence, steering decision-making and elevating user experiences.
By meticulously tracking key performance metrics such as downloads, installations, user engagement, retention rates, and revenue generation, enterprises can proficiently gauge the efficacy of their app strategies, enabling them to make astute data-driven enhancements.
The digital era's surging momentum is being propelled by the mobile app industry, which is witnessing a notable surge in app downloads. The upward trajectory of app usage and smartphone penetration is bolstered by various catalysts, including heightened affordability of smartphones, escalating demand for mobile internet accessibility, and the unprecedented popularity of mobile applications.
Against the backdrop of these trends, the Asia-Pacific region emerges as a vibrant hub for transformative growth. The expansion of eCommerce, online streaming platforms, and the deepening internet penetration within the region have catalyzed the flourishing of marketing industries. Marketers, eyeing a vast and ever-expanding consumer base, are now in pursuit of advanced marketing solutions.
This evolution has steered the adoption of AI-enabled analytics solutions, as enterprises leverage cutting-edge technologies to decipher consumer behaviors and preferences. Noteworthy industry players like IBM, Google, and Microsoft have established a robust presence within this region, and the anticipation is that other market contenders will augment their investments and strengthen their foothold accordingly.
Amid this dynamic landscape, the comprehensive competitive assessment delves into the market shares, growth strategies, and service portfolios of leading entities such as Google (US), Microsoft (US), IBM (US), AWS (US), SAP SE (Germany), and Adobe (US), amongst others, shaping the contours of the app analytics market.
The Software segment is projected to hold the largest market size during the forecast period
App analytics software focuses on providing comprehensive insights into the performance, user behavior, and effectiveness of mobile applications. This approach primarily centers around the utilization of app analytics software as a standalone solution.
App analytics software empowers businesses to measure the success of their user acquisition efforts, track user engagement levels, understand user behavior within the app, and monitor performance metrics.
Conversion tracking application is registered to grow at the highest CAGR during the forecast period
Conversion tracking denotes the measurement and analysis of user actions that indicate a desired outcome or conversion within a mobile application. It enables businesses to track and attribute specific actions or events to user conversions, such as making a purchase, completing a registration, or subscribing to a service.
Businesses can evaluate the effectiveness of their marketing campaigns and optimize user acquisition strategies by monitoring these conversions. Mixpanel offers conversion tracking features that allow businesses to track and analyze user actions leading to conversions.
By type, mobile apps segment is anticipated to account for the largest market size during the forecast period
In the past decade, the mobile industry has witnessed remarkable expansion, with businesses worldwide leveraging mobile networks to connect with their desired audience.
The effective utilization of mobile phones to target customers is experiencing rapid growth. Mobile app analytics plays a crucial role in assisting developers in measuring user acquisition and retention rates, and optimizing marketing strategies. According to Statista, there were 255 billion app downloads in the year 2023, which triggers the mobile apps for the app analytics market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 228 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $6.3 Billion |
| Forecasted Market Value (USD) by 2028 | $15.7 Billion |
| Compound Annual Growth Rate | 20.2% |
| Regions Covered | Global |
Premium Insights
- Higher Demand for Mobile Applications Across Verticals During Forecast Period
- Bfsi to be Largest Vertical During Forecast Period
- North America to be Largest Market in 2023
- Software and Bfsi to be Largest in Respective Segments in 2023
Market Dynamics
Drivers
- Increase in Use of Apps for Mobile Advertising
- Implementation of Digital Transformation Strategies
- Greater Smartphone Penetration and Increase in Number of Mobile and Web Apps
Restraints
- Integration and Implementation Complexities
- Users' Skepticism About Data Security
Opportunities
- Rise in Efforts to Enhance Customer Experience
- Integration with Marketing Technologies
- Focus on Higher ROI
Challenges
- Highly Fragmented App Ecosystem
- User Opt-In and Consent with Data Collection Concerns
- Concerns Over Privacy and Data Protection in Mobile Apps
Technology Analysis
Technology Roadmap of Market Landscape
- Short-Term Roadmap, 2023-2025
- Mid-Term Roadmap, 2026-2028
- Long-Term Roadmap, 2029-2030
Case Study Analysis
- Uxcam and Recora: Improving App Performance and Reduced Churn
- Google and Doodle: Driving User Engagement and Stability
- Smartlook and Disivo: Improving User Experience and Pricing Accuracy with App Analytics
- Mixpanel and Ticketmaster One: Enhancing B2B Customer Insights and Engagement
- Mixpanel and Boll & Branch: Progressing Conversions and Engagement Using App Analytics
Smart Wearables
- IoT and Smart Objects
- Artificial Intelligence and Machine Learning
- Augment Reality and Virtual Reality
- Clod Platform Storage/Cloud Computing
By App Analytics Types
- Native Apps
- Hybrid Apps
Company Profiles
Key Players
- Microsoft
- Aws
- IBM
- Adobe
- SAP
- Amplitude
- Upland Software
- Mixpanel
- Kochava
Other Players
- Flurry
- Uxcam
- Taplytics
- Contentsquare
- Pendo.Io
- Qonversion
- Countly
- Appdynamics
- Smartlook
- Appfollow
- Clevertap
- Singular
- Heap
- Data.AI
- Alchemer LLC
For more information about this report visit https://www.researchandmarkets.com/r/bdstbe
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