The global mobile analytics market is expected to experience a CAGR of 6.5% during the forecast period 2021 to 2026. Market drivers include the explosion of e-commerce data and the increasing use of smartphones which generate huge amounts of data.
New York, October 27, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Global Mobile Analytics Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https: / / www. reportlinker.com/p06177318/?utm_source=GNW
With mobile analytics data, product and marketing teams can create positive feedback loops. As they update their site or app, launch campaigns, and release new features, they can test the impact of those changes on their audience. Depending on the audience response, teams can make other changes that generate even more data and lead to more testing. This creates a virtuous circle that polishes the product.
Compared to traditional web analytics platforms, mobile analytics, which is mostly app dependent, is much more convenient and accurate. Since most mobile analytics tools use an SDK to track user activity, vendors can use various codes to track custom events, depending on the operating system.
Unlike web analytics, SDKs do not rely on cookies to uniquely identify a user. Therefore, compared to several other approaches, mobile analysis is more likely to generate more accurate results. In addition, compared to the general use of desktop computers, mobile phones are responsible for most of the internet traffic in the world.
The retail industry, especially e-commerce operations, is expected to demand mobile analytics solutions, followed closely by the banking industry. The growing demand for automation in the BFSI industry and the efforts of e-commerce companies to create personalized shopping experiences are expected to generate significant revenue in the global mobile analytics market.
The COVID-19 pandemic has affected several industries, including mobile marketing and advertising. In the short term, companies have reduced their marketing spending until the situation stabilizes. However, in the future, the shift of the advertising budget from traditional marketing like print and outdoor activities to digital and mobile marketing would see a peak, with end-users being indoors and preferring to consume content primarily on their mobile phones. or their television. Social distancing, thus positively impacting the use of mobile marketing analysis.
In addition, there has been an increased reliance on mobile apps to perform daily user tasks. These applications mainly use a huge amount of data. To effectively analyze and manage this huge data, a robust analytics solution is required. This is where data analysis plays a crucial role. It helps various companies to get information based on the data of these applications.
Key market trends
The retail sector has a significant market share
Retail management has become a complex process with customer satisfaction as the central theme, shifting from product focus. Buyer expectations rise where they expect personalization at all levels, faster fulfillment options, and unified omnichannel experiences. Competitive pressures are also increasing and the definition of commerce continues to evolve.
Retailers use mobile as a powerful marketing platform. The retail industry, especially e-commerce operations, is expected to be the primary demand for mobile analytics solutions. The efforts of e-commerce companies to create personalized shopping experiences are expected to generate considerable revenue in the mobile analytics market globally.
The growing retail and e-commerce industry in India offers a huge market for mobile analytics providers. With the advancement of Internet infrastructure in the country, the sectors will further develop tremendously, providing a huge opportunity for local providers. Cities like Delhi, Mumbai, Bangalore and Hyderabad are emerging as major hot spots for e-commerce and retail-focused mobile analytics solutions.
For example, in India, the retail sector has become one of the dynamic sectors, which is expected to reach nearly $ 1.3 trillion by 2024, according to the India Brand Equity Foundation. Additionally, the organization pointed out in its July 2021 post that the industry is valued at $ 883 billion in 2020.
Vendor activity in the market suggests growing partnerships between retailers and mobile analytics platforms to meet the evolving needs of acquiring new customers and retaining existing customers, among others. Such long-term partnerships have greatly contributed to the growth of the studied market.
India occupies a significant market share
The Indian mobile analytics market is expected to grow significantly during the forecast period owing to the increase in the use of smartphones and the growing number of mobile business emails. According to a report by TRAI, the number of telecommunications subscribers in India reached 1183.4 million at the end of January 2021. Global teledensity in India increased from 86.38 at the end of December 2020 to 87.01 at the end of January 2021.
According to the Indian government, India is now the second largest producer of cell phones after China. Because of this, the country has also seen a drop in smartphone prices, which further increases the penetration of smartphones.
In India, mobile data consumption has grown 24-fold over the past five years and is expected to quadruple again by 2020. It is also expected that by 2022, data subscriber penetration mobile phones in India has reached 80%, meaning telecom companies will have to increasingly measure usage per subscriber.
Large-audience companies differentiate their offerings, replicating the success of “super-applications” seen elsewhere in Asia. For example, GoJek and Grab offer users across Southeast Asia a range of features, such as ridesharing, payment systems, food delivery, e-commerce, publishing and their business model, which is gaining popularity in India. Marlet. For example, Truecaller – an app that allows its 140 million daily active users to screen stranger and bot calls – is planning to set up a credit lending scheme. India-based users can also use the app to record calls, send messages, and make payments.
Additionally, most of India’s digital ad spend was mobile-driven before the coronavirus pandemic, and this global event acted as a catalyst for that trend. Between 45% and 55% of organizations’ digital advertising budgets are spent on mobile, which is expected to increase to over 65% by 2022. According to Exchange4Media, advertising budgets invest heavily in rich media, social media marketing and paid research. Such trends are expected to drive the growth of the studied market.
The mobile analytics market is dominated by a few giants, like Google, Facebook, and OpenText Corporation, which occupy most of the market share. They focus on R&D activities related to mobile analytics. Some of the recent developments in the market are:
June 2021: GoodData launched its new production platform editions, GoodData Cloud Native (GoodData.CN). GoodData.CN Production is the solution that provides customers with robust enterprise-level analytics delivered as a microservice-based analytics stack. The product is offered in three packages: free, for simple production deployments; Growth, for self-service analysis; and Enterprise, for large production deployments with enhanced functionality.
February 2021: AppsFlyer announced the launch of PredictSK, a new predictive analytics solution expected to be part of its robust SKAdNetwork suite, SK360. The new product would be available after Apple began implementing its AppTracking transparency framework in early spring. The SK360 suite would continue to support the ecosystem throughout future Apple privacy updates.
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