Selbyville, Delaware, Oct. 03, 2023 (GLOBE NEWSWIRE) --
The app analytics market valuation will surpass USD 22.5 billion by 2032, as reported in a research study by Global Market Insights Inc.
As per the study, the industry growth is driven by the ever-increasing volume of data being generated everyday and the rising demand for actionable insights among businesses. The 2022 data reveals that there was more than 44 zettabytes of data in the digital universe, with 2.5 quinitillion bytes data being generated every day.
In today's fiercely competitive digital landscape, user engagement is the holy grail of success for businesses across industries. App analytics provides a treasure trove of data that empowers companies to understand user behavior, preferences, and pain points. Armed with these insights, businesses can optimize user experiences, tailor their offerings, and drive customer loyalty.
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Moreover, the monetization of mobile apps has become more intricate than ever. App analytics equips businesses with the ability to analyze user spending patterns, in-app purchases, and subscription trends. This data enables companies to fine-tune their pricing strategies and maximize revenue generation. The global digital transformation and focus on leveraging data will shape the market dynamics in the coming years.
The app analytics market from the software component segment is poised to witness high demand between 2023 and 2032. With the rise in app complexity and the proliferation of platforms, the demand for robust analytics tools has surged. These tools encompass a wide array of functionalities, from user tracking to crash reporting. The ability of software and tools in helping businesses harness the power of data for informed decision-making will stimulate the industry demand.
The app analytics market share from app performance analytics & operations application segment is witnessing substantial growth as organizations recognize the paramount importance of app performance. The app analytic tools and solutions monitor app functionality, detect anomalies, and ensure seamless operations. In order to avoid a slightest hiccup that can lead to user churn, businesses are investing heavily in tools for app performance analytics and operations to ensure seamless user experience, thereby confirming customer retention.
The Asia Pacific region is emerging as a hotbed of opportunity for the app analytics market. The burgeoning smartphone adoption, particularly in countries such as China and India, is fueling the demand for app analytics solutions. Furthermore, the rapid expansion of mobile app-based businesses in the region underscores the critical role of data analytics in driving success. With rapid digitalization as well as widespread adoption of AI & ML by businesses across the region, data generation will keep multiplying, emphasizing the adoption of app analytics in the coming future.
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Major players involved in app analytics market are Mixpanel, Adobe Systems Inc., IBM Corporation, Google, Localytics, Amazon.com, and Yahoo Inc. These tech giants are constantly hustling to introduce improved analytics functionalities and capture larger market share.
For instance, Google Inc. introduced next-gen Google Analytics 4 (GA4) in 2023, discontinuing 360 Universal Analytics from July 2023. The tool gathers event-based data from both apps and websites.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 App analytics market 360º synopsis, 2018 - 2032.
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Component trends
2.5 Type trends
2.6 Application trends
2.7 Industry vertical trends
Chapter 3 App Analytics Market Industry Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Type & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Growing adoption of mobile applications
3.10.1.2 Rising demand for app performance optimization
3.10.1.3 Increasing advancements in analytics technology
3.10.1.4 Growing app marketing and user acquisition
3.10.1.5 Growing focus of businesses on enhanced user engagement and retention
3.10.2 Industry pitfalls & challenges
3.10.2.1 Growing data security and privacy concerns
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
