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App Analytics Market Overview:
In 2021, the App Analytics Market Size was estimated to be worth $1,896 million. The market for app analytics is anticipated to increase from USD 308.29 million in 2022 to USD 1673.75 million in 2030, with a compound annual growth rate (CAGR) of 23.32% over the five-year forecast period (2022– 2030). The market is positively impacted by the rising smartphone penetration, rising app usage and downloads, new technology development and integration, expanding emphasis on digital marketing analytics, and rising demand for user analytics.
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Key Players:
Key Companies in the App Analytics market includes,
The number of app downloads increased by 24.2% in 2020, but only by 0.5% in 2021, according to data from the business of apps. The main cause of this fall in 2021 is ascribed to the deteriorating political and economic conditions between China and India. The Indian government first restricted 52 applications in 2020; now, 400 apps have been blocked, which has had a significant impact on 2021 download trends and new app creation. Due to the decline in subscribers and continued COVID effects, Ukraine-Russia also had a significant impact on this market in 2021 and 2022, continuing in China and other developed nations.
As can be seen from the graph above, there was a 20%+ increase in app downloads between 2016 and 2017. This rise was brought primarily by the widespread adoption of 4G in China and India, but thanks to greater market penetration in 2018 and 2019, the market expanded by almost 10% in those years. However, Covid’s effects led to 2020 being a year of recovery because there were more apps in the healthcare and health monitoring sectors. Additionally, the number of smartphones has increased by 2020. However, this growth is once more boosted by a margin of 0.5% in 2021. The quantity of downloads doesn’t decrease; it stays the same. Most of these downloads come from information.
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The sector that once depended heavily on game apps is now overrun with other verticals, including those focused on transportation, healthcare, and the government, among many others. As a result, many businesses were compelled to employ app analytics for their growth strategies going forward. App analytics will assist many businesses in tracking their staff performance, consumer feedback, and a variety of other potential uses due to downloads, as previously indicated demand.
App Analytics market segmentation is based on application type and consists of revenue analytics, app performance analytics and operations, crash analytics, cross-platform analysis, user analytics, in-behavioral analytics, ad monitoring and marketing analytics, campaign analytics, and others. The segment with the highest revenue share in 2021 was ad monitoring and marketing analytics, with a share of 20.21%.
Web-based and mobile apps are also included in the App Analytics market segmentation based on platform type. A 65.5% revenue share was held by the mobile-based category in 2021, and it is anticipated that this position will hold throughout the projected period. Even if the market was affected by dropping smartphone sales in 2022, this decline is only temporary.
BFSI, Retail, Media and Entertainment, Logistics, Travel and Transport (LTT), Telecom and IT, Healthcare, Hospitality, and Others are among the industry verticals that make up the App Analytics market segmentation. With a market share of 23.2% in 2021, the retail sector dominated the market, and it is anticipated that this will continue throughout the projection period.
North America, Europe, Asia-Pacific, and the Rest of the World are the regions into which the study divides the market. In 2021, the North America App Analytics market had a value of USD 608,6 million, and over the research period, it is anticipated to grow at a rate of 22.03% CAGR. This demand is linked to the growing use of app analytics across all U.S. industries. According to the MRFR report, when compared to other industries, the penetration rate has been at its highest up to this point.
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Asia Pacific will be the third-largest geographical market for app analytics in 2021. Though it is estimated that Asia-Pacific would develop at the fastest rate and be the region with the largest market at the conclusion of the forecast period, with a share of more than 30%.
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