CHICAGO, Jan. 25, 2023 /PRNewswire/ -- The global Mobile Apps and Web Analytics Market size is projected to grow from USD 9.4 billion in 2022 to USD 20.2 billion by 2027, at a CAGR of 16.4% during the forecast period, according to a new report by MarketsandMarkets. Artificial intelligence (AI) and machine learning (ML) technologies enable self-sufficient and autonomous systems, companies, and individuals in smart cities. Governments are increasingly using AI- and ML-based wireless technology because they are less costly, more effective, and utilize fewer resources. Machine-generated data aids in predictive analysis and decision-making for the design of smart cities. The increased usage of AI and ML in smart cities drives market expansion.
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Cloud segment to account for higher CAGR during the forecast period
The Mobile Apps and Web Analytics Market is bifurcated on the basis of cloud and on-premises. The market size of the cloud deployment mode is estimated to be larger and projected to have a higher CAGR during the forecast period. The new means to access technology and the information a company needs to react rapidly to shifting markets and address business issues is made possible by cloud computing. It introduces a new technique for creating platforms, infrastructure, and services. Today's business professional finds it harder than ever to find data-driven insights. Business customers typically receive static spreadsheets and presentations from analytical experts that are challenging to examine and manipulate.
SMEs segment to account for higher CAGR during the forecast period
The Mobile Apps and Web Analytics Market is bifurcated on the basis of large enterprises and SMEs. The CAGR of the SMEs is estimated to be highest during the forecast period. SMEs make up a vast majority of enterprises globally and play a significant role in most economies. Analytics-based data helps improve overall business intelligence and assists in making wise business decisions. Web analytics is crucial for businesses to identify and comprehend the target market. This information can be very helpful, especially if the business is global or is considering entering a new market. This, in turn, would enable SMEs to adopt mobile apps and web analytics platforms and services.
APAC to hold higher CAGR during the forecast period
Over the next five years, the Asia Pacific region is expected to witness the fastest growth in the Mobile Apps and Web Analytics Market. SMEs and large enterprises in Asia Pacific have become more aware of government regulations and compliances and started adopting AI-based solutions proactively. The adoption of AI technology by different verticals, such as the BFSI, travel and hospitality, and retail, is expected to contribute to the high growth of the mobile apps & web analytics market. The growing eCommerce, online streaming, and increasing internet penetration have resulted in the growth of marketing industries. Marketers now look for more sophisticated marketing solutions for a large, ever-growing consumer base. This, in turn, has resulted in the adoption of AI-enabled solutions for marketing.
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Major vendors in the global Mobile Apps and Web Analytics Market are Microsoft (US), Google (US), Oracle (US), SAP (US), AWS, IBM (US), Teradata (US), Adobe (US), SAS Institute (US), Micro Focus (US), comScore (US), Salesforce (US), Splunk (US), Microstrategy (US), AT Internet (US), Webtrends (US), Tibco Software (US), Mixpanel (US), Upland Localytics (US), Amplitude Analytics (France), Qlik (US), Flurry (US), Cooldata (US), Countly (UK), Mobilebridge (Netherlands), Appsflyer (US), Uxcam (US), Incubasys (UAE), Datamatics Technologies (UAE), Alpha Byte (UAE), Celadon (UAE), Singular (Israel), Matomo (New Zealand), Plausible (Estonia), and Fathom (US).
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