The global mobile analytics market is anticipated to flourish at a CAGR of 18.3% over the forecast period. Mobile analytics market was valued at USD 1.6 Billion in 2016 and is anticipated to reach $6bn by the end of 2024. Android mobile analytics market is expected to remain dominant and grow at highest pace over the forecast period due to rapid growth of android smartphone market.
In 2016, North America accounted for the major share in the global mobile analytics market.
Further, North America is anticipated to maintain its dominance over the forecast period owing to the high acceptance level of advance technologies and high adoption of cloud based solution.
In 2016, application analytics segment was held for the highest percentage share in the region. Further, this segment is likely to witness significant growth over the forecast period. U.S. accounted for about 51% market share in 2015 due to the heavy penetration of cloud based solution.
Europe and Asia Pacific market are anticipated to witness lucrative growth over the forecast period. Increasing sale of consumer electronics segment such as smartphones, tablets and others is likely to propel the growth of mobile analytics market in Europe.
On the other hand, Asia Pacific mobile analytics market is forecasted to grow at highest pace during the forecast period i.e. 2017-2024. Asia-Pacific mobile marketing segment is forecasted to grow at a CAGR of 27.6% over the forecast period. The major factor driving the growth of mobile analytics market is the increasing penetration of mobile devices such as smartphones, tablets and others in the region.
Countries such as China, India, Japan and South Korea are anticipated to have the largest market share of mobile analytics in the Asia-Pacific region.
Growth of application based industries such as ebay, amazon and others is the major growth driver of mobile analytics market.
In addition to this, increasing sale of smartphones and other mobile devices across all over the globe is expected to intensify the demand of mobile analytics market.
Apart from this, smart technologies innovations such as smart TV are also escalating the growth of mobile analytics market.
However, security concerns such as data privacy among the population is hindering the growth of global mobile analytics market. Additionally, high initial cost of set up is dampening the growth of mobile analytics market globally.
Lack of awareness regarding mobile analytics solutions in the growing regions is restraining the growth of global mobile analytics market.