New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The Mobile Apps and Web Analytics Market is predicted to record a CAGR of 16.4% during the forecast period, from US$ 9.6 Billion in 2022 to US$ 44.0 Billion by 2032.
The increased emphasis on improving customer experience, as well as the expanding trend of digitization, is likely to fuel mobile applications and web analytics market expansion. The difficulty of data synchronisation, on the other hand, is projected to limit mobile applications and web analytics market expansion.
Opportunities would be created by factors such as rising demand for massive amounts of data analysis and increased usage of mobile applications, as a result of the COVID-19 pandemic.
The COVID-19 epidemic has highlighted the actual value of data and how analytics may help with pandemic management. Significant prospects for mobile app and web analytics market players may be observed as organizations fight for sustainability to withstand the effect of this epidemic.
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Notable attempts are being made throughout the world to use advanced analytics to grasp the real-time scenario of a pandemic via mobile applications and online navigation.
The government, public agencies, and hospitals are utilizing mobile applications and web analytics to interact with the public and raise awareness about the necessary precautions during the epidemic, which is further anticipated to create opportunities for the mobile apps and web analytics market players.
Media firms and stakeholders are exploring new methods to communicate with their audiences and have resurrected their business strategy through social media. Hence, the adoption of mobile apps and web analytics is likely to grow during 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 apps, and online data management would be useful for activities such as reporting a detailed and real-time analysis of customer behavior-driven engagement. Although many mobile applications and web analytics market verticals are seeing a decline in product demand, there are a few industry verticals that are experiencing a surge in product demand.
For example, as millions of workers work from home, the adoption of Microsoft Teams and Zoom Meeting has skyrocketed throughout the world. Online streaming services have also seen a significant increase in their subscriber base across North America, Europe, and APAC.
People are experiencing social isolation as a result of Covid-19, with the majority choosing to purchase their everyday supplies through an online eCommerce site. Hence, the demand for analytics is rising to estimate the future demand from the eCommerce platforms.
The solutions sector is an important mobile applications and web analytics market component that helps marketers comprehend customer experience management. Data analytics, data discovery, data visualisation, and data management are all part of mobile apps and web solutions. Organizations are having difficulty handling this massive number of data, which is reducing corporate productivity and revenue.
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During the projected period, the cloud deployment model is predicted to increase at a faster CAGR. Cloud-based solutions are gaining traction in the mobile applications and web analytics market due to a variety of advantages, including cost management, resource sharing, and reduced deployment time. Cloud deployment provides advantages in terms of flexibility, scalability, and cost-effectiveness, which provides companies with better control over the server, infrastructure, and systems, thereby improving the growth prospect of the mobile apps and web analytics market.
KEY TAKEAWAYS:
- In the component sector, solution from the marketing attribution software market is anticipated to flourish at the quickest CAGR of 16% through 2032.
- With a CAGR of 16.2% through 2032, Cloud is predicted to grow significantly in the deployment mode segment of the marketing attribution software market.
- The market size for marketing attribution software market in the United States is expected to reach US$ 15.3 Billion by 2032, growing at a CAGR of 16.2% during the forecast period.
- China is anticipated to reach a market size of US$ 3.1 Billion in marketing attribution software by 2032, with a CAGR of 15.7% during the forecast period.
- UK’s marketing attribution software market is anticipated to be worth US$ 1.9 Billion by 2032, with 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, with 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, with a CAGR of 13.8% during the forecast period.
COMPETITIVE LANDSCAPE:
Major solution providers in the mobile applications and web analytics market include Microsoft (US), Google (US), Oracle (US), IBM (US), Salesforce (US), Adobe (US), SAP (Germany), TIBCO Software (US), Micro Focus (US), SAS Institute (US), Teradata (US), AWS (US), Splunk (US), MicroStrategy (US), AT Internet (France), Webtrends (US), comScore (US), Mixpanel (US), and Upland Localy (US).
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RECENT DEVELOPMENT:
- IBM and Siemens will collaborate to create a service lifecycle management solution in June 2020. To constantly enhance product performance, maintenance, and operations, the solution integrates aspects from Siemens' Xcelerator range with IBM Maximo. Additionally, the system allows OEMs to obtain important data on asset performance, maintenance, and failures in the field.
- Teradata announced a slew of updates to its Teradata Vantage as-a-service solutions on public cloud providers Amazon Web Services (AWS) and Microsoft Azure in June 2020. Teradata users may now store data separately and only when needed with the new service. The service allows Teradata cloud users to match features and performance to a variety of business requirements.
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