Global Mobile Analytics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Mobile Analytics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Global Mobile Analytics Market is expected to grow by registering a CAGR of 19.1% during the forecast period (2022-2027). The main factor driving the market is the adoption of innovative technologies like artificial intelligence, big data, and machine learning by several mobile analytics businesses.

Key Highlights

• Mobile apps are now more frequently used by consumers to do daily tasks. These applications use a huge amount of data. A powerful analytics system is needed to manage and analyze this enormous amount of data effectively. In this context, data analytics is quite important. It helps diverse businesses use these apps to gain data-driven insight.
• Mobile App Analytics is to monitor activity within mobile applications. This research can reveal how users interact with a program and whether a specific incident led users to uninstall it. Tracking interaction, technical data, conversion funnels, and other metrics can also assist in determining whether an app makes sense for both the audience and the business and can direct its future development.
• With mobile analytics data, product and marketing teams can create positive feedback loops. As they update their site or app, launch campaigns, and release new features, they can test the impact of these changes upon their audience. Based on how audiences respond, teams can make further changes that yield even more data and lead to more testing. This creates a virtuous cycle that polishes the product.
• Compared to traditional web-based analytics platforms, mobile analytics, which majorly depends upon apps, are far more convenient and accurate. As most mobile analytics tools use an SDK to track user activity, vendors can use various codes to track custom events, depending on the operating system.
• Unlike web analytics, SDKs do not depend on cookies to uniquely identify a user. Hence, compared to several other approaches, it is more likely that mobile analytics will generate more accurate results. Also, compared to general desktop usage, mobile phones are responsible for most internet traffic globally.
• The retail sector, especially e-commerce operations, is expected to demand mobile analytics solutions, closely followed by the banking sector. The increasing demand for automation in the BFSI sector and efforts of the e-commerce companies to create personalized shopping experiences are expected to draw considerable revenues to the mobile analytics market globally.
• The COVID-19 pandemic impacted multiple sectors, including mobile marketing and advertising. In the short term, companies have curtailed their marketing spending till the situation stabilizes. However, in the future, the shift of advertising budget from traditional marketing like print and outdoor activities to digital and mobile marketing would witness a spike with end-users being indoors and preferring to consume content primarily on their mobile phones or TV. Social distancing, thus positively impacting the usage of mobile marketing analytics.

Key Market TrendsRetail Industry Holds Significant Market Share

• Retail management has become an intricate process with customer satisfaction as its central theme, shifting from focusing on products. Shopper expectations are increasing where they expect personalization at all levels, faster fulfillment options, and unified omnichannel experiences. Competitive pressures are also increasing, and the definition of commerce continues to evolve.
• Retailers are using mobile as a powerful marketing platform. The retail sector, especially e-commerce operations, is expected to be the primary demand for mobile analytics solutions. Efforts of e-commerce companies to create personalized shopping experiences are expected to draw considerable revenues to the mobile analytics market globally.
• An enormous market is available for mobile analytics providers because of the expanding global retail and e-commerce industries. The industries will continue to grow significantly with the development of internet infrastructure, creating a major potential for local suppliers. Mobile analytics solutions for e-commerce and retail are increasingly popular in nations including the United States, India, China, South Korea, Taiwan, and others.
• For instance, in India, the retail industry has emerged as one of the dynamic industries, which is anticipated to reach nearly USD 1.3 trillion by 2024, according to the India Brand Equity Foundation.
• The market's vendor activity points to expanding collaborations between retailers and mobile analytics platforms to meet a range of emerging needs, including new customer acquisition and customer retention. Such long-term alliances have made a significant contribution to the market under study's expansion.

Asia Pacific to Occupy Significant Market Share

• The Asia Pacific mobile analytics market is expected to grow significantly over the forecast period owing to the surge of smartphone device utilization and an increasing number of mobile business emails. According to a TRAI report, India's telecom subscribers' base reached 1183.4 million at the end of January 2021.
• Additionally, the expanding Indian retail and e-commerce industry presents a sizable market for providers of mobile analytics. The industries will continue to grow significantly with the improvement of the nation's internet infrastructure, creating a major potential for local suppliers. Major hubs for e-commerce and retail-driven mobile analytics solutions are emerging in cities like Delhi, Mumbai, Bangalore, and Hyderabad.
• As smartphones become more popular, there is an increasing need for mobile analytics services in the APAC area. Customers also employ mobile analytics for a fundamental study of mobile data traffic. The market for mobile analytics is being driven by the proliferation of phones and tablets, rising need for smart cybersecurity solutions, and income from internet services.
• Companies with a large audience differentiate their offering, replicating the success of 'super-apps' seen elsewhere in Asia. For example, GoJek and Grab are offering users across South Eastasia a range of features, such as ride-hailing, payment systems, food-delivery, e-commerce, publishing, and their business model, is one that is catching on in the Indian market. For instance, Truecaller – an app that allows its 140 million daily active users to screen calls from strangers and bots – plans to implement a credit loaning system. Users based in India can also use the app to record calls, send messages, and complete payments.
• Furthermore, most of India's digital ad spend was mobile-focused before the coronavirus pandemic, and this global event has acted as a catalyst for this trend. Between 45-55% of organizations' digital advertising budgets are spent on mobile, which is anticipated to increase to more than 65% by 2022. As per Exchange4Media, ad budgets invest heavily in rich media, social media marketing, and paid search. Such trends are expected to drive further the growth of the market studied.

Competitive Landscape

The Global Mobile Analytics Market is dominated by a few giants, like Google, GoodData, Facebook, and OpenText Corporation, which occupy most of the market share. They are emphasizing R&D activities related to mobile analytics. Some of the recent developments in the market are:

• June 2021 - GoodData launched its new platform production edition, GoodData Cloud Native (GoodData.CN). GoodData.CN Production is the solution that gives customers robust, enterprise-grade analytics delivered as a microservices-based analytics stack. The product is offered in three plan options: Free, for simple production deployments; Growth, for self-service analytics; and Enterprise, for large production deployments with enhanced features.
• February 2021 - AppsFlyer announced the launch of PredictSK, a new predictive analytics solution that is expected to be a part of its robust SKAdNetwork suite, SK360. The new product would be available after Apple starts enforcing its AppTracking Transparency framework in early spring. The SK360 suite would continue to support the ecosystem throughout Apple’s upcoming privacy updates.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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