Mobile Analytics Market Estimated To Witness a Phenomenal Growth by 2025
Mobile analytics refers to the analysis and capturing of data from mobile websites, mobile apps, and others. This analytical tools helps companies to develop business strategies, which is based on real insights that will help in gaining competitive edge in the market. Furthermore, mobile analytical tools enables business owners to keep a track of recent trends that help business owners to take required decisions, thereby increasing customer engagement. Another feature of mobile analytics is that it also helps in increasing brand awareness among customers, which will help the companies to strengthen their foothold in the market.
Increasing number of mobile users and growing adoption of mobile apps are major factors expected to drive growth of the market over the forecast period
Increasing penetration of mobile phones globally is a major factor driving growth of the global mobile analytics market. For instance, the International Telecommunication Union estimated that 4.30 billion people used mobile phones globally, which was around 58.7% of the global population. This means that there is a considerable paradigm shift from website-based revenue models to mobile app-based models. This will help companies to advertise over mobile devices, as currently, people rely upon mobile and digital platforms to showcase and sell their products. For instance, according to Coherent Market Insights’ analysis, around 60% of the consumers utilize these mobile devices for shopping and accessing other on-demand services, and also complete transaction through these devices. Therefore, growing number of mobile users is also expected to contribute to increasing sales of the business, which leads to high demand for mobile analytic.
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Growing concerns relating to security breach and loss of personal information is expected to hinder the industry growth
Increasing number of fraudulent activities and security breaches over the past few years has led to major concerns for safety of personal information and credentials. Although, there is growing utilization of mobile apps, customer have less confidence, owing to breach of sensitive information. This is leading to low adoption of such apps. Moreover, some mobile devices are still working on older versions of operating systems, which also led to rise in vulnerabilities leading to loss of sensitive data.
Cloud-based mobile analytics segment is expected to exhibit high growth over the forecast period
Increasing adoption of cloud computing technology by businesses is expected to be a major factor for growth of the segment. For instance, according to the CISCO analysis, in 2015, the cloud traffic was 1891 EB (Exabyte) and is estimated to reach 6844EB (Exabyte) by 2020. The adoption of cloud technology will help minimizing investments used for the maintenance of IT infrastructure and usage of data warehouse for storing data. Thus, demand for cloud-based mobile analytics will provide a growth opportunity to the market.
Global Mobile Analytics Market: Regional Insights
On the basis of geography, the global mobile analytics market is segmented into North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. North America accounted for the highest revenue share in 2016 in the global mobile analytics market. Early adoption of new technology and increasing penetration of smartphones are the major factors driving growth of the market. For instance, according to Coherent Market Insights in 2014, there were around 59% of smartphone users in America, which increased up to 77% in 2016. Thus, increasing smartphone users in North America is a factor leading to increasing demand for mobile analytics in North America. However, Asia Pacific is expected to exhibit the highest growth rate for mobile analytics market during the forecast period. The region is expected to witness the highest growth, due to increasing number of tablets and smartphones users across countries such as India, China, and Indonesia. According to International Telecommunication Union (ITU), the number of smartphone users in China is estimated to increase to around 675 million by 2019, which is expected to aid in growth of the market.
Global Mobile Analytics Market: Competitive Background
Key players in the global mobile analytics market include Yahoo Inc., IBM Corporation, Mixpanel Inc., Crittercism Inc., Google Inc., Upsight Inc., Webtrends Inc., Amazon Web Services Inc., Adobe Systems Inc., and Netbiscuits Inc.
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