The global app analytics market is attributed towards increasing demand for web applications and mobile applications, escalating execution of digital transformation plans, and extensive utilization of smartphones for the development of advertisements. Moreover, increasing investment accredited towards analytics technology is another factor pertaining towards the growth of the app analytics market across the globe. On the basis of type, the app analytics market is segmented into web analytics and mobile analytics. Among these two segments, mobile analytics is expected to witness the fastest growth during the forecast period. Mobile analytics is expanding at a rapid pace due to the increasing utilization of these apps by several business organizations for promoting their business activities. Furthermore, these applications enable organizations for gaining an improved understanding of their user’s perceptions. These apps also help the enterprises to adapt rapidly changing the environment, helps in improving the revenue of companies, observe marketing campaigns, and enhance the satisfaction of customers.
On the basis of vertical, the global app analytics market is segmented into media and entertainment, banking, financial services, and insurance, telecom and IT, retail, logistics, travel, transportation and hospitality, and others. Among all these segments, banking, financial services, and insurance are expected to witness the fastest growth during the forecast period. The growth of this segment is attributed towards increasing usage of baking services on mobile devices and the increasing adoption of artificial intelligence technology in various countries of Asia-Pacific.
The increasing demand for web application and mobile application along with escalating execution of digital transformation strategies is expected to drive the growth of the app analytics market. The providers of app analytics provide software of app analytics that helps the users in managing the financial investment options, financial products, and transaction details. Moreover, app analytics software helps the business organization in detecting the fraudulent dealings along with assisting the banks in categorizing segments of the business.
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This further present personalized solutions to the clients that helps in building mobile payments strategy for a longer duration of time along with enhancing the customer relationship management activities of the organizations. These factors are thereby bolstering the growth of the app analytics market in the near future at a high rate. Moreover, increasing usage of smartphones for advertising is another factor that is bolstering the growth of the app analytics market, globally.
Geographically, North America has accounted for the largest share in the app analytics market. The growth of the market in this region is attributed towards flourishing and well-recognized economies of the U.S. and Canada that enable this region to continuously innovating technology and investing more towards the research and developmental activities.
The North American market is also driven by the extensive and early utilization of various evolving technologies such as big data, mobility, Internet of Things (IoT), and DevOps that are enabling the manufacturers and business organizations to effectively integrate app analytics services and solutions into their business operations.
The market structure for global app analytics market is consolidated structure and the key players in the app analytics market include IBM, Swrve, TUNE, Localytics, AppDynamics, AppsFlyer, Heap, Appsee, Amplitude, Mixpanel, MOENGAGE, Kochava, Taplytics, App Annie, Apptentive, and CleverTap.