APP ANALYTICS MARKET

 

Market Overview:

               The App Analytics Market is anticipated to have a CAGR of almost 20% over the course of the projected period (2021 - 2026). The primary driver of this rise is the expanding use of mobile and online applications across numerous end-user sectors. Numerous businesses from all sectors are quickly adopting digitalization, which is a major driver of consumer adoption of mobile and web apps. According to a research by App Annie, there were 204 billion mobile apps downloaded worldwide in 2019 compared to 140.68 billion in 2016.

For instance, a research by Ofcom found that the majority of individuals in the UK are reliant on their digital devices and require a continual internet connection. In the UK, 78% of individuals had smartphones in 2018 compared to 17% in 2008, with 95% of 16 to 24 year olds owning one. People in the UK now check their cellphones on average every 12 minutes while awake, according to a 2018 Ofcom research. Due to these changes, more mobile apps are being used globally, which has boosted the demand for app analytics among businesses across all industries.

Key Market Trends:

         The media and entertainment sector includes, among other things, OTT media, social media, music apps, and mobile or web games. The adoption of app analytics solutions by businesses is anticipated to expand as social media and messaging apps become more popular among consumers. Out of the 3.8 billion active social media users by 2020, it is predicted that 3.75 billion will be using mobile social media.
Additionally, the world of entertainment is quickly changing due to OTT (Over-The-Top) material. The way consumers look for, share, and watch their favourite material is changing as the internet and TV merge.

Due to the presence of numerous market participants in the region, including AppsFlyer, Kochava, Google LLC, Amazon Web Services, and many others, the North American region is anticipated to dominate the global app analytics market.
Additionally, the region's supremacy in the adoption of cutting-edge technologies, including analytical solutions and artificial intelligence, as well as its capacity to spend in R&D skills, are some of the factors bolstering the market expansion.
For instance, TD Bank Group (TD) introduced TD Clari, a chatbot, in January 2019. It is effectively incorporated into the bank's mobile app. The chatbot assists clients with daily transactions and provides real-time personal spending information.

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