According to the latest market research study released by Technavio, the global mobile web and event analytics market is expected to post an impressive revenue of almost $7 billion by the end of the forecast period, 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global mobile and web event analytics market based on product type:
Global mobile and web analytics market share by end-user 2015
|
Retail |
24% |
|
BFSI |
20% |
|
Healthcare |
15% |
|
Others |
41% |
Source: Technavio
The top three revenue contributing end-user segments are discussed below:
Global mobile and web event analytics market for the retail sector
During 2015, the retail segment contributed the largest share of the global mobile and web analytics market by accounting for around 24% of the overall market share. The adoption of mobile and web analytics solutions in the retail sector is fueled by the intense competition in the market. Retail companies use mobile and analytical solutions to draw useful conclusions related to their customers, products, operations, and competitors. This helps drive innovation, increase operational efficiency, and boost revenues.
“The need for predictive analysis is on an upsurge across many industry segments. Predictive analytics provides actionable insights into data of an organization through the use of various techniques such as data mining, modeling, machine learning, and game theory. Some of the key end-user industry segments of mobile and web event analytics solutions include retail, healthcare, manufacturing, IT, BFSI, and education sectors. The need to analyze customer buying patterns and behavior and design their product or services will drive the demand for predictive analysis over the next four years,” says Ishmeet Kaur, a lead analyst at Technavio for enterprise application.
Through the use of these solutions, retailers can analyze customer-centric data, view the purchase pattern of the customer to offer effective future products, obtain customer feedback and perform sentiment analysis. The need to access large amounts of information on-demand and transform data retrieved into useful information for analysis and decision-making among retailers is expected to propel the adoption of mobile and web event analytics solutions in the global market during the forecast period.
Global mobile and web event analytics market for the BFSI sector
In the BFSI sector, mobile and web analytics systems find application in addressing a variety of needs such as personal advising and detecting potential fraud. The adoption of mobile and web event analytics solutions in the BFSI sector accounted for almost 20% of the overall market share of the global mobile and web event analytics market. Mobile and web analytics systems enable banking and financial institutions to access their customer’s details like names, addresses, and preferences for certain products and services. The need to derive insights about the transaction pattern to make decisions, especially with the growth of big data in terms of volume, variety, and complexity, mobile, and web analytics is the primary driving force behind the growth of this market segment.
Global mobile and web event analytics market for the healthcare sector
The adoption of mobile and web analytics solutions in the healthcare sector is driven by the need to gain insights in remarketing, cost reduction, and to improve brand reputation. Web analytics help measure information such as exchange of content consumption, claim submissions, unique physician, and customer log-ins. The analysis of such data help achieve the objective of converting website viewers into customers. The increased awareness about healthcare and the subsequent need for reliable infrastructure, reduced healthcare costs, and improved healthcare service quality, and keeping up with medical developments are some of the key factors spurring the rise in adoption of mobile and web event analytics solutions in the healthcare sector. The global mobile and web event analytics market for the healthcare sector accounted for around 15% of the overall market share in 2015 and is expected to showcase significant growth by 2020.
The top leading vendors operating in the global mobile and web event analytics market are:
- Adobe Systems
- AT Internet
- comScore
- IBM
- SAS Institute
- Webtrends
The other prominent vendors in the market include Clicktale, Clicky, KickFire, Kissmetrics, Woopra, Crazy Egg, Chartbeat, Omniture, Apsalar, Char Software, Mixpanel, Appsee, netbiscuits, Segment.io, and Upsight.
A more detailed analysis is available in the Technavio report titled, ‘Global Mobile and Web Event Analytics Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Advanced Analytics Market 2016-2020
- Global Cloud Analytics Market 2016-2020
- Global Analytics as a Service Market 2016-2020
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