Warwick Analytics has been included in the latest MarketsandMarkets App Analytics Market – Global Forecast to 2023.
CEO at Warwick Analytics commented in the report: “The app analytics market is growing strongly but faces inhibiting factors that could slow it down. The main one is information overload, i.e., humans not knowing how to use the analytics to take decisions. The way to resolve this is to use AI on the unstructured data alongside the structured data to contextualize analytics to recommend actions.”
Executive Summary The app analytics market is at its nascent stage and is gaining traction owing to deeper smartphone penetration and growing number of mobile app users. The market is primarily categorized into 2 types, namely mobile analytics and web analytics. The mobile analytics software segment dominates the global app analytics market. Organizations integrate app analytics software into their applications to monitor the users, revenue, app performance, and ad monitoring and marketing. With these applications, organizations are focusing on increasing revenues from their business.
A user analytics solution includes user behavior analytics (app buttons clicked, app ads clicked, articles read, or screens viewed), visitor analytics (location, gender, age, and language of the user, whether the user is new or old, type of device, operating system, and manufacturer of device), user experience analytics (to identify popular business flows in the app, usage, and user journey across web, mobile, and wearable devices), use heatmaps to view performance, problems, popular app screens, and usage data. The app performance analytics includes cross platform comparison analytics (to analyze how the app is functioning on different platforms), carrier latency, Application Programming Interface (API) latency, and uptime, crashes, exceptions, errors, and data transactions of app. The advertising and marketing analytics includes tracking the viewership of app content, tracking the latest app installs, registrations, shares, invites, and in-app ads. The revenue analytics includes in-app payments and in-app purchases. The global app analytics market is divided into 5 main regions: North America, Europe, APAC, MEA, and Latin America. North America has witnessed the significant adoption and is expected to grow at the CAGR of XX% during the forecast period, mainly due to technological advancements and recent developments pertaining to the market. Companies in the region have been involved in partnerships, acquisitions, and new product developments which are mentioned in the company profiles section in detail. APAC, on the other hand, is expected to grow at the highest CAGR of XX%, owing to the rapidly growing number of smartphone users and mobile app downloads in major APAC countries, such as China, India, Japan, and Australia, and the rapid development of IT infrastructure and the adoption of new technologies in 2016 and 2017.
The app analytics market is divided into various verticals, such as BFSI; retail; media and entertainment; logistics, travel, transportation, and hospitality; telecom and IT; and others (education, energy and utilities, and manufacturing). The BFSI vertical is expected to hold the largest market size; however, the telecom and IT vertical is projected to grow at the highest CAGR during the forecast period. Increasing use of apps for mobile advertising, implementation of digital strategies, deeper smartphone penetration, and growing number of mobile and web apps, and smartphone and internet users are the major factors driving the growth of the market. However, privacy concerns may restrain the growth of the market.
Major market players, such as Google Inc. (Google), Yahoo Inc. (Yahoo), Amazon.com, Inc. (Amazon), Adobe Systems Incorporated (Adobe), International Business Machines Corporation (IBM), Segment, appScatter, TUNE, Inc. (TUNE), AppDynamics, Appsee, ContentSquare, Countly, Swrve Inc.(Swrve), Amplitude, Localytics, AppsFlyer, Heap Inc., adjust Inc. (adjust), MOENGAGE, App Annie, Apptentive, Taplytics, Inc. (Taplytics), CleverTap have been leading in offering app analytics software and services to their commercial clients across regions.