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.
Industry Insights by Offering (Software, Service [Professional, Managed]), by Solution (Web-Based, Mobile-Based), by Deployment Type (On-Premises, Cloud-Based), by Enterprise Size (Small & Medium Enterprise, Large Enterprise), by Vertical (BFSI, Media & Entertainment, Manufacturing, Automotive, Healthcare, Energy & Utilities, Government, Retail, Others), by End User (Designers, Manufacturers, Sales Professionals, Marketing Professionals, Finance and Risk Professionals, Others)
Globally, product analytics industry players are leveraging market growth through 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.
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Large enterprises category held 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 enterprises category held larger share in the market in 2018. This is attributed to the fact that rapid demand for advanced analytics tools from big firms to stay competitive and expand their market presence.
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 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.
Geographically, North America has accounted for the largest share in 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.
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 Plytix.
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In the primary data collection process, there are several sources interviewed in order to obtain precise quantitative and qualitative information for this study. The primary sources those are included for the data collection of this study comprises of manufacturers, commercial growers, industry consultants and others key industry experts. There are several others sources that helped in gaining insightful information about this market are CEOs, marketing and sales directors, vice presidents, and key opinion leaders from various key companies operating in the global product analytics market. Primary research in this report has been conducted for estimating market size, market dynamics and strategies adopted by the key players in this market.
Secondary sources referred for this research report includes association for product analytics, business filings such as financial statements, annual reports, investor presentations and trade associations. The secondary data has been used for estimating overall market size and growth of product analytics market that has been authenticated with the supporting facts gathered through primary data collection.
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Global Product Analytics Market Coverage
Offering Insight and Forecast 2014-2024
Solution Insight and Forecast 2014-2024
Deployment Type Insight and Forecast 2014-2024
Enterprise Size Insight and Forecast 2014-2024
Vertical Insight and Forecast 2014-2024
End User Insight and Forecast 2014-2024
Product Analytics Market by Region
Rest of the World (RoW)
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