Mobile Apps and Web Analytics Global Market to Reach $20.2 Billion by 2027: Rising Demand for AI and Machine Learning and Widespread Adoption of SME Cloud Storage Drives Growth
DUBLIN, Feb. 21, 2023 /PRNewswire/ -- The "Mobile Apps and Web Analytics Market by Component (Solutions & Services), Solution (Data Analytics, Data Discovery), Application (Content Marketing, Marketing Automation), Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Mobile Apps and Web Analytics market is projected to grow from USD 9.4 Billion in 2022 to USD 20.2 Billion by 2027, at a CAGR of 16.4% during the forecast period.
The BFSI segment to have the largest market size during the forecast period
By vertical, the segments include BFSI, telecom, healthcare and life sciences, retail and e-commerce, government and public sector, manufacturing, IT and ITeS, energy and utilities, transportation and logistics, travel and hospitality and others (education, fishery, and real estate).
Traditional banking techniques are transformed by AI and analytics, creating more robust, interconnected, and dynamic ecosystems to satisfy the customers' always-evolving needs The banking and finance industry relies on cutting-edge approaches to fulfill client needs to support them in operating effectively.
These solutions help banks respond more quickly and effectively to stakeholder needs by providing strategic insights into the area of potential. Various financial entities use web and app analytics solutions to boost the visibility of their apps, thereby increasing the overall customer experience of web and mobile apps. Organizations are increasingly looking to leverage analytical insights to help them make better business decisions, improve their understanding of customer preferences, and deliver enhanced CXs.
The marketing automation segment is registered to grow at the highest CAGR during the forecast period
Marketing automation equips brands with the technology, capabilities, and insights they need to understand and interact with their customers meaningfully, at scale, and in real time.
Used properly, it can become an engine of mobile apps and the web that moves a brand toward customer-centricity; this could not happen without data consolidation, given the complexity of omnichannel and digital communication. Businesses can use marketing automation tactics to stay on top of their marketing activities while effectively targeting customers with pre-programmed or automatically triggered messages across email, web, and social networks.
Among Vertical, Healthcare and Life Sciences vertical is anticipated to register the highest CAGR during the forecast period
The explosion of healthcare data in recent years is largely attributable to wearable and mobile devices that capture heart rate, blood pressure, physical activity, and other data. To guide better medical procedures, experts want to see data analytics used in clinical trials.
Hospitals and other health institutions adopt mobile apps and web analytics solutions in their business applications to improve patients' overall experience.
The solutions potentially speed up the detection of disease outbreaks, increase the time it takes for new pharmaceuticals to reach the market, tailor treatment based on a patient's DNA, and simplify the insurance and payment systems.
North America to account for the largest market size during the forecast period
North America is expected to have the largest market share in the Mobile Apps and Web Analytics market. North America is one of the leading markers for Mobile Apps and Web Analytics in terms of market share.
The industry verticals such as retail & eCommerce, media & advertisement, and telecom & IT are the leading adopters of mobile apps & web analytics solutions in North America for a variety of uses, including enhancing customer experience in the retail & eCommerce industry vertical, understanding customer preferences through social media platforms, and improving healthcare machines' ability to track brain functioning of patients.
The adoption of IoT devices by various enterprises to have more accurate real-time data for decision-making would boost the adoption of mobile apps & web analytics solutions in the region.
Market Dynamics
Drivers
- Rising Demand for AI and Machine Learning
- Widespread Adoption of SME Cloud Storage
- Growing Trend of Digitalization
Restraints
- Data Security and Compliance Issues
- Ongoing Effects of Pandemic
Opportunities
- Advancements in Al, Cloud, Lot, and Analytics
- Government Initiatives Toward Digitization
Challenges
- High Cost Involved in Disrupting Existing Infrastructure
- Inadequate and Under-Developed Infrastructure
- Mobile Apps and Web Analytics Market: Ecosystem Analysis
Case Study Analysis
- Finserve Increased Its App Adoption Ratings by Leveraging Upland Localytics' Digital Expertise
- Cort Adopted Adobe Analytics Solutions to Reach Key Demographic Customers
- G2 Gained Actionable Insights into User Behavior with Amplitude
Companies Mentioned
- Adobe
- Alpha Byte
- Amplitude Analytics
- Appsflyer
- at Internet
- Aws
- Celadon
- Comscore
- Countly
- Datamatics
- Fathom
- Flurry
- IBM
- Incubasys
- Matomo
- Medallia
- Micro Focus
- Microsoft
- Microstrategy
- Mixpanel
- Mobilebridge
- Oracle
- Plausible
- Qlik
- Salesforce
- SAP
- Sas Institute
- Singular
- Splunk
- Teradata
- Tibco Software
- Upland Localytics
- Uxcam
- Webtrends
For more information about this report visit https://www.researchandmarkets.com/r/301ip3-apps-and?w=5
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