The global product analytics market is expected to grow at a CAGR of 18.7% during the forecast period with its market size predicted to reach USD 39.6 billion by 2024. Globally, product analytics industry players are leveraging market growth by offering innovative and advanced solutions, product launches, partnerships, mergers & acquisitions, and geographic expansion. For example, Amazon Go is changing the traditional shopping experience by using analytics to grow sales and consumer involvement.
Large enterprises category held a larger share in the product analytics market in 2018
On the basis of enterprise size, the global product analytics market is divided into large enterprises and small and medium enterprises. Among the two categories, the large enterprise's category held a larger share in the market in 2018. This is attributed to the fact that the rapid demand for advanced analytics tools from big firms to stay competitive and expand their market presence.
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On the basis of vertical, the global product analytics market is divided into BFSI, media & entertainment, manufacturing, automotive, healthcare, energy & utilities, government, retail, and others. Of all, the BFSI category held the largest share in the market in 2018, owing to the significant shift from traditional banking to digital banking, enhanced consumer service experience, huge demand for personalized banking services, and growing preference of consumers toward digital platforms.
Geography Insight
Geographically, North America has accounted for the largest share in the product analytics market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed towards the existence of a large number of IT companies, increasing mobile application usage, rapid adoption of technological trends, such as BI, AI, ML, cloud technology, and analytics solutions.
Competitive Insight
Some of the key players operating in the global product analytics market are Google LLC, Teradata, Adobe Systems Incorporated, Salesforce.com Inc., SAP SE, IBM Corporation, Atlassian, Amplitude, Piwik PRO, Oracle Corporation, Mixpanel, and Playtex.
Key Takeaway from the Report:
- Among all the offerings, the software category held a larger share in the market in 2018. However, the service category is expected to witness faster growth during the forecast period.
- Among all the solutions, the web-based solutions category held a larger share in the market in 2018.
- Of all the deployment type, cloud-based contributes the largest revenue globally.
- The large enterprise's category held a larger share in the product analytics market in 2018.
- Of all vertical, the BFSI category held the largest share in the market in 2018.
The Report Offers:
- Historical market estimate for the years 2014–2018 and forecast for the years 2019–2024
- Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
- Market insights by in-depth segmentation with industry dynamics.
- Competitive analysis and benchmarking of the industry leaders and their product offerings
- Profiles of leading players and innovators, their financial overview and product portfolio
- Analysis of key industry trends and recent developments
- Value chain analysis and distribution channel analysis with opportunity assessment
- Market share analysis of major players
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VynZ Research
Call: +91-996-028-8381
Toll-Free (U.S. and Canada): +1-888-253-3960
Email: enquiry@vynzresearch.com
