Press release
Mobile Analytics Market 2016 Trend, Demand, Latest Technology & Applications and 2024 Global Industry Growth Forecast
Today digitization is a part of the socio-economic skeleton of every society. Several mobile apps and smart IT-based solutions are governing the social and economic framework. The modern society and the millennium population is driven by several smart mobile apps. The government and private players are curating new apps to venture deep into the core of the market and are also trying to enhance their customer outreach by accommodating their products and services into a single smart app.
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The app based industry is on a boom globally. The usage is high and demand is soaring with every passing day. Mobile analytics gauges the market presence of a particular app and it also monitors traction. The global mobile analytics market is supposed to reap the benefits of the changing mood of the digital advertising arena, as the new population of corporate honchos rely upon mobile and digital platforms to showcase and sell their products. The massive jump in smartphone users globally is also a reason for rejoicing for the global mobile analytics industry. In 2015, the global mobile analytics market was valued more than US$ 1,300 Mn and is estimated to reach more than US$ 1,500 Mn by the end of 2016, reflecting a Y-o-Y growth rate of 14.3%. By 2024, the global mobile analytics market is expected to reach a value of more than US$ 6,000 Mn, increasing at a CAGR of 18.8% during the assessment period. Global mobile analytics market is projected to represent an incremental $ opportunity of more than US$ 4,000 Mn between 2016 and 2024.
Microsoft Corporation Emerges as the Leading Shareholder of the Global Mobile Analytics Market
Microsoft Corporation accounted for a turnover in excess of US$ 93 Bn in 2015, with its latest bridge application tool “HockeyApp” launched in August 2016 gaining immense popularity amongst users. Adobe Systems Incorporated, Yahoo! Inc. (Flurry Analytics), International Business Machine Corporation (IBM), Tune, Inc., Google Inc. (Alphabet Inc.), Amazon Web Services, Inc. (Amazon.com, Inc.), Localytics (Char Software, Inc.), Webtrends Inc., and Mixpanel, Inc. are amongst other prominent players operating in the global mobile analytics market.
Persistence Market Research (PMR) indicates North America to remain at pole position of the global mobile analytics market, accounting for the highest revenue share during 2016 to 2024. In 2015, the market in the region was valued at over US$ 560 Mn and expected to reach US$ 2058.7 Mn by 2024. Further, the market in Asia Pacific is predicted to be the fastest growing market, expanding at a CAGR of 22.4% over the forecast period. This is primarily due to robustly growing fascination towards mobile technology and rapid smartphone penetration in countries such as India and China.
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Prospects of the Global Mobile Analytics Market in the Near Future
As per Persistence Market Research analysis, the global mobile analytics market will continue to witness pronounced growth over the forecast period on the backdrop of a slew of factors. Increasing demand for real-time analytics to deliver personalized ads and growing investment in digital advertising across mobile platforms is expected to influence the demand for mobile analytics in the near future. Further, higher investments in developing advanced mobile apps and exploding number of smartphone users are additional factors anticipated to support the overall market growth. In contrast, a dearth of technological understanding for operating high end functionalities of mobile analytics solutions and increasing concerns over privacy breach associated with customer data may inhibit market growth during the next eight years.
On the basis of solution type, demand for application performance analytics solutions is expected to remain dominant throughout the projected period. In addition, the application performance analytics solutions segment is set to register the highest revenue by solution type.
On the basis of development, cloud-based development is expected to remain as the most attractive segment, increasing at a CAGR of 21% during the forecast period 2016-2024.
By end user vertical, the e-commerce & retail segment is projected to account for a comparatively higher share of the market. Further, the segment is projected to expand at over 22% CAGR through 2024, followed by media & entertainment segment.
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To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
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