Product Analytics Market Size, Share & Global Insights 2022-2028

The product analytics market in North America is expected to grow from US$ 3,764.19 million in 2021 to US$ 11,191.25 million by 2028; it is estimated to grow at a CAGR of 16.8% from 2021 to 2028.
Cloud computing environments, where data is kept remotely in distributed storage systems, allow IT infrastructure to be scaled up or down quickly. Pay-as-you-go arrangements are also facilitated in these contexts. This means that businesses that need to process massive amounts of data and have a lot of storage and processing capacity do not have to invest in an extensive IT infrastructure. Instead, companies can license the storage and processing capacity they require and pay only for their use. As a result, most large companies that deal with significant amounts of data are turning to cloud computing to supply their solutions to businesses. However, migrating data from an on-premises solution to the cloud is complicated and time-consuming. Before the data migration is complete, businesses must sync their data sources and platforms for several weeks to months.

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Consumer optimism and spending have remained strong in North America during the pandemic. Progress in vaccination programs and the reopening of businesses is anticipated to fuel the demand for product analytics in the coming years. While the first half of 2020 led to reduced sales revenue due to the lockdown and halted operations of several industries, the second half of 2020 witnessed a massive surge in online sales. In the latter half of 2021, this growth was further driven by the strong consumer intent to splurge. Social media is continuing to influence consumer purchases, particularly for younger generations, in discretionary, travel, and entertainment categories. As a result, market players are investing in customer data collection and management technologies to boost sales and generate revenues.

MARKET INTRODUCTION

Product managers in the retail and consumer goods sector are demanding efficient analytics tools to estimate consumer needs and attitudes. Leading players in the North American product analytics market are utilizing advances in technologies, such as machine learning, data mining, artificial intelligence, and modeling, to provide high-end solutions to their customers.

List of Companies Profiled in the Product Analytics Market Report are:
• Amplitude, Inc.
• Gainsight
• Heap Inc.
• IBM Corporation
• KISSMETRICS
• LogRocket, Inc
• Mixpanel
• Pendo.io, Inc.
• USERIQ

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Key Segmentation:

Deployment Mode (Cloud Based and On-Premise),
The Product Analytics Market is categorized into type, application, and country.
• Based on type, the Product Analytics Market is segmented into pellets, blocks, and others. The blocks segment held the largest market share in 2022.
• In terms of application, the Product Analytics Market is segmented into food and beverage, storage and transportation, healthcare, industrial applications, and others. The storage and transportation held the largest market share in 2022.
• By country, the Product Analytics Market is segmented into the US, Canada, and Mexico. The US dominated the Product Analytics Market share in 2022.
North America Product Analytics market, in 2021. The growth of the segment is primarily attributed to the increase in need for maintenance and repair activities in order to make sure its internal and external parts are in good condition and to maintain a record of its condition. Based on application, the power transformers segment held the largest share of the North America Product Analytics market. The rise in energy demand, increase in renewable power generation, growing initiatives for smart cities & urbanization are the key factors responsible for the demand of power transformer. Thus, such factors are driving the North America Product Analytics market growth.

Table of Contents

Based on material, the Product Analytics market is segmented into FRP/composites, metal/alloys, and others. The metal/alloys segment held the largest share of the North America Product Analytics market in 2022.
Based on size, the Product Analytics market is segmented into 75-120 feet, 121-250 feet, and Above 250 feet. The 121-250 feet segment held the largest share of the North America Product Analytics market in 2022.

Based on country, the North America Product Analytics market is segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe. The Rest of Europe dominated the share of the North America Product Analytics market in 2022.

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