CHICAGO, January 25, 2023 /PRNewswire/ — The global Mobile apps and web analytics market measure is expected to grow $9.4 billion in 2022 to $20.2 billion by 2027, at a CAGR of 16.4% over the forecast period, according to a new report from MarketsandMarkets™. Artificial intelligence (AI) and machine learning (ML) technologies enable self-sustaining and autonomous systems, companies and individuals in smart cities. Governments are increasingly turning to AI and ML-based wireless technology because they are cheaper, more effective and use fewer resources. Machine-generated data aids predictive analysis and decision making for smart city design. The increased use of AI and ML in smart cities is driving 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 split based on cloud and on-premises. The market size of cloud deployment mode is estimated to be larger and is expected to have a higher CAGR during the forecast period. The new way to access technology and the information a company needs to quickly respond to changing markets and address business challenges is enabled by cloud computing. It introduces a new technique for creating platforms, infrastructure and services. Today’s business professional is finding it harder than ever to find data-driven insights. Business clients typically receive static spreadsheets and presentations from analytical experts that are difficult to research and manipulate.
The SME segment will record a higher CAGR over the forecast period
The mobile apps and web analytics market is split on the basis of large enterprises and SMEs. The CAGR of SMEs is estimated to be the highest during the forecast period. SMEs make up the vast majority of businesses worldwide and play an important role in most economies. Analytics-based data helps improve overall business intelligence and assist in making wise business decisions. Web analytics is crucial for businesses to identify and understand the target market. This information can be very useful, especially if the company operates globally 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 sustain a higher CAGR over the forecast period
In 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 companies Asia Pacific have become more aware of government regulations and compliance and have started proactively adopting AI-based solutions. The adoption of AI technology by various industries such as the BFSI, travel and hospitality, and retail is expected to contribute to the strong growth of the mobile apps and web analytics market. The growing e-commerce, online streaming and increasing internet penetration have resulted in the growth of marketing industries. Marketers are now looking for more sophisticated marketing solutions for a large, ever-expanding customer base. In turn, this has resulted in the adoption of AI-enabled solutions for marketing.
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Major suppliers 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 (The Netherlands), Appsflyer (US), Uxcam (US), Incubasys (UAE), Datamatics Technologies (UAE), Alpha Byte (UAE), Celadon (UAE), Singular (Israel), matomo (New Zealand), plausible (Estonia), and Fathom (USA).
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