Growing at a CAGR of 19.4% | Why Invest in Mobile Analytics Market Share Reach USD 27.60 Billion by 2031

The upsurge in mobile advertising and advent of data analytics and big data have further boosted the mobile analytics market.

PORTLAND, PORTLAND, OR, UNITED STATE, July 23, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " Growing at a CAGR of 19.4% | Why Invest in Mobile Analytics Market Share Reach USD 27.60 Billion by 2031." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global mobile analytics market was valued at USD 4.72 billion in 2021, and is projected to reach USD 27.60 billion by 2031, growing at a CAGR of 19.4% from 2022 to 2031.

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Increase in penetration of smartphones, growth in demand to receive new and actionable insight on buyers' preferences have boosted the growth of the global mobile analytics market. However, surge in mobile advertising and emergence of data analytics and big data have supplemented the market growth. However, dearth of awareness regarding benefits of mobile analytics and growth in privacy concerns hinder the market growth. On the contrary, advent of several enterprises entering the industry to offer advanced solutions is expected to open lucrative opportunities to the market players in the future.

The mobile analytics market is segmented on the basis of offering, application, enterprise size, industry vertical, and region. On the basis of offering, the market is segmented into solution and services. On the basis of solutions, the market is segmented into mobile app analytics and mobile web analytics. Further, on the basis of mobile web analytics, the market is segmented into on-premise and cloud. On the basis of application, the market is segmented into mobile advertisement and marketing analytics, targeting and behavioral analytics, application performance analytics, others. On the basis of enterprise size, the market is bifurcated into large enterprises and SMEs. Depending on industry vertical, it is segregated into BFSI, healthcare, retail & ecommerce, IT & telecom, travel & hospitality, media & entertainment, government and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By enterprise size, the large enterprises segment is expected to register the highest CAGR of 21.3% during the forecast period, due to rise in smartphone and internet penetration along with emergence of disruptive digital technologies such as IoT and data analytics. However, the SMEs segment held the largest share in 2021, accounting for more than two-thirds of the global mobile analytics market. Adoption of mobile analytics solutions helps SMEs integrate with the global market by helping them gain better and faster business insights to support real-time decision-making and capitalize on future opportunities.

By industry vertical, the retail & e-commerce segment held the largest share in 2021, accounting for nearly one-fourth of the global mobile analytics industry. Website and e-commerce trackers can collect data about the product their users browse and buy which helps increase efficiency across the supply chain. However, the travel & hospitality segment is expected to register the highest CAGR of 23.2% during the forecast period.

Based on region, global mobile analytics market across North America contributed to the highest share in terms of revenue in 2021, accounting for nearly two-fifths of the market, and is expected to maintain its dominance in terms of revenue by 2031. This is due to adoption of mobile analytics by the retail industry to streamline work processes. However, market across Asia-Pacific is projected to manifest the fastest CAGR of 21.4% during the forecast period. This is owing to numerous economic and process benefits such as real-time data analytics and data analytics and rise in demand for smartphones and other connected devices as well as surge in need for internet access.

Some of the key Mobile analytics market industry players profiled in the report include are Adobe, Google LLC, International Business Machines Corporation, Micro Focus, Microsoft Corporation, SAS Institute Inc., Oracle Corporation, SAP SE, Salesforce.com, Inc., TIBCO Software Inc., AT Internet, Comscore, Inc., Microstrategy Incorporated, Mixpanel, Splunk Inc., Teradata Corporation and Webtrends.

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COVID-19 Scenario:

● With the outbreak of the pandemic, several companies adopted work from home culture, which heightened the demand for cloud-based solutions and SaaS-based model. This positively affected the market.

● Mobile analytics and automation helped minimize dependency on staff availability, which supported business resilience and remote working.

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