Mobile Analytics Market Expected to Reach $27.60 Billion by 2031

According to a new report published by Allied Market Research, titled, “Mobile Analytics Market," The mobile analytics market was valued at $4.72 billion in 2021, and is estimated to reach $27.60 billion by 2031, growing at a CAGR of 19.4% from 2022 to 2031.

Global Mobile analytics market Expected to Reach $27,598.61 Million by 2031—Allied Market Research

According to a recent report published by Allied Market Research, titled, “Mobile analytics market offering, organizational size, application, enterprise size and region: Global Opportunity Analysis and Industry Forecast, 2022-2031,”

The global mobile analytics market was valued at $4,716.28 million in 2021, and is projected to reach $27,598.61 million by 2031, registering a CAGR of 19.4% from 2022 to 2031.

Analytics is the practice of measuring and analyzing data of users in order to create an understanding of user behavior as well as website or an application’s performance.

 Mobile analytics involves measuring and analyzing data generated by mobile platforms and properties, such as mobile sites and mobile applications. Mobile Analytics measures users' engagement with the app in addition to metrics related to the app itself, such as app installs, app launches, taps, screens, events, app versions, flows, user retention, funnel analytics, and more. Also, just like web analytics, mobile analytics tracks and measures similar metrics about users, such as how many new users are using the app, from which countries, which devices and versions.

The market penetration of smartphones and growth in demand to receive new and actionable insight on the buyers’ preferences have accelerated the need for mobile analytics worldwide. In addition, the upsurge in mobile advertising and advent of data analytics and big data have further boosted the mobile analytics market. However, lack of awareness on the benefits of mobile analytics and growth in privacy concerns have restricted the market growth for mobile analytics. On the other hand, with many enterprises entering the market and providing advance solutions would is expected to create greater opportunities during the forecasted period.

On the basis of offering, the solution segment dominated the mobile analytics market in 2021, and is expected to maintain its dominance during the forecasted period. This can be attributed to the growing demand for advanced analytics and BI (Business Intelligence) tools. In addition, the growing need for real-time business insights to make faster business decisions is a key driver of market growth for mobile analytics solution. However, the services segment is expected to witness highest growth rate during the forecast period. The services related to mobile analytics provide services for various strategies and these strategies are expected to ensure smooth running and troubleshooting of any glitches within the solutions. These services associated analytics help in gaining knowledge of technologies, which are driving the expansion of the mobile analytics market.

By enterprise size, the large enterprises segment dominated the growth in the mobile analytics industry in 2021, and is expected to maintain its dominance in the upcoming years. The increase in smartphone and internet penetration are the key drivers for the market growth. Moreover, the major factors driving the mobile analytics are increase in the mobile advertising and emergence of disruptive digital technologies like IoT and data analytics. However, the SMEs segment is expected to witness highest growth rate during the forecast period. 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. It contributes toward the market growth by helping to streamline business processes, increase business efficiency, and reduces business downtime.

By application, the mobile advertisement and marketing analytics segment dominated the growth in the mobile analytics industry in 2021, and is expected to maintain its dominance during the forecasted period. Mobile advertising and marketing analytics via mobile ads and web are the most evolving and rapidly developing digital marketing channel. Also, analytics is of increasing importance to increase efficiency and improved ROI. Global ad spend is in rapid growth, highlighting the increase in demand for mobile advertising and marketing analytics solutions. However, the targeting and behavioral analytics segment is expected to witness highest growth rate during the forecast period. Growth in adoption of cloud-based targeting and behavior analytic solutions, and improvement of security measures in behavior analytics are the major factors that drive the growth of the targeting and behavioral analytics in mobile analytics market. In addition, increase in demand for real-time analytics fuel the growth of the in-app behavior analytics.

By Industry vertical, the retail & e-commerce segment dominated the growth in the mobile analytics market forecast in 2021, and is expected to maintain its dominance during the forecasted period. Website and e-commerce trackers can collect data about the product their users browse and buy. This data may be collected with the buyer's demographic information such as location, gender, age and other products purchased by the buyer. Moreover, mobile analytics tracks e-commerce activities, pages, user timing, screens and social interactions while increase in efficiency across the supply chain. All these factors are helping to expand the global mobile analytics market. However, the healthcare segment is expected to witness highest growth rate during the forecast period. With a surge in usage of smartphones, mobile engagement technology is on a constant rise as the consumer expectations for instant access to products and services is on the rise. Healthcare organizations are using mobility solutions extensively for better patient engagement, with the aim to take full benefit of the many capabilities that are provided by mobile analytics in healthcare sector.

COVID-19 has disrupted normal life and has enforced a substantial change in the policies, priorities, and activities of individuals, organizations, and governments. These changes are proving to be a catalyst for technology and innovation. By 2021, it’s expected that mobile app downloads will reach 258 billion, a 45% increase since 2017. Increase in revenue will indicate that use of mobile analytics has overcome the negative impact on technology sector due to COVID-19 lockdown.

Moreover, during the COVID due to WFH policies the demand for cloud-based solutions and the SaaS-based model increased significantly. This has positively impacted the market growth. Incidentally, during the pandemic, mobile analytics and automation helped eliminate the dependency on staff availability, thus supporting both remote working and ensuring business resilience.

KEY FINDINGS OF THE STUDY

• By Offering, in 2021 the solution segment dominated the Mobile analytics market size.
• Depending on enterprise size, the large enterprises generated the highest revenue in 2021 of mobile analytics market share. However, SMEs segment is expected to exhibit significant growth during the forecast period.
• Depending on application, the mobile advertisement and marketing analytics segment generated the highest revenue in 2021 of mobile analytics market share. However, targeting and behavioral analytics segment is expected to exhibit significant growth during the forecast period.
• Region wise, the Mobile analytics market industry was dominated by North America region. However, Asia-Pacific is expected to witness significant growth in the forecasted period.

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. This study includes market trends, Mobile analytics market analysis, and future estimations to determine the imminent investment pockets.