Market Size in 2018 | Market Forecast in 2025 | CAGR (in %) | Base Year |
---|---|---|---|
USD xx Billion | USD xx Billion | xx% | 2018 |
The global product analytics market size was evaluated at $xx billion in 2018 and is slated to hit $xx billion by the end of 2025 with a CAGR of nearly xx% between 2018 and 2025.
The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global market space. The product analytics industry report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, PESTEL analysis, SWOT analysis, Porter’s five force analysis, and value chain analysis. Additionally, the product analytics market report explores the investor and stakeholder space to help companies make data-driven decisions.
It is the use of business intelligence and analytical software which analyzes product services reports, returns, warranties, customer feedback, and information from connected sensors to allow makers to evaluate defects in the products, and possibilities of product upgrades, and connect these components to clients.
The product analytics market is expected to witness growth in the coming years. Owing to the rising demand for expert insights and training into the usage and deployment of cutting-edge analytics solutions, along with its urging requirement for consultancy is expected to support market growth. Product analytics gives more detail about the customer choices reasons for buying or not buying a particular product and so on. In addition to the use of analytics for studying buying patterns, it will also support vendors in extracting a more detailed understanding of customer needs & attitudes, eventually helping in faster day-to-day decisions and enhancing performance. Moreover, the rising adoption of data-driven decision-making coupled with emerging internet of things enabled technologies is anticipated to bolster market growth.
This will help emerging players of launch an existing product or experience players to launch a new product. Furthermore, product analytics helps companies and organizations in targeting the right audience for their products/services. In addition, the business analytics on social media analysis coupled with customer data gives accurate information and understanding about the customers.
Report Attributes | Report Details |
---|---|
Report Name | Product Analytics Market Research Report |
Market Size in 2018 | USD xx Billion |
Market Forecast in 2025 | USD xx Billion |
Growth Rate | CAGR of xx% |
Number of Pages | 210 |
Key Companies Covered | IBM, Google, Adobe, Oracle, Salesforce, Piwik PRO, Mixpanel, Amplitude, Plytix, and Heap |
Segments Covered | By Vertical, By Mode, By Deployment, By End-Users and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2018 |
Historical Year | 2016 to 2018 |
Forecast Year | 2018 - 2025 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The product analytics market is segmented on the basis of vertical, into retail & consumer goods, automotive, machinery & equipment manufacturing, F&B manufacturing, healthcare & pharmaceuticals, energy & utilities, and others. Retail & consumer goods will hold a substantial share in the market owing to their uses.
The emphasis on product analytics in sales has a significant impact followed by finance, marketing, and SCM. Numerous companies are making massive improvements in their internal data and BI systems to effectively gauge the data and act accordingly.
Renowned product analytics market players are IBM, Google, Adobe, Oracle, Salesforce, Piwik PRO, Mixpanel, Amplitude, Plytix, and Heap among others. The market players are opting for organic and organic strategies such as new service launches, acquisitions, collaborations, and joint ventures to expand their reach and drive revenue.
On the basis of region, the product analytics market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America is anticipated to hold a substantial share during the forecast period, owing to the presence of major players such as Oracle, Google, Adobe, and Salesforce North America coupled with the adoption of artificial intelligence, machine learning, business intelligence, and developing analytical solutions. Several industries such as automotive, travel & hospitality, education, and pharmaceuticals use product analytics to study the user to enhance their experience by offering improved services.
Global Product Analytics Market: Vertical Segment Analysis
Global Product Analytics Market: Mode Segment Analysis
Global Product Analytics Market: Deployment Segment Analysis
Global Product Analytics Market: End-Users Segment Analysis
Global Product Analytics Market: Regional Segment Analysis
FrequentlyAsked Questions
Product analytics refers to the process of collecting, analyzing, and interpreting data related to a digital product's usage, performance, and user behavior. It involves the systematic tracking and measurement of various metrics and interactions to gain insights into how users interact with a product, what features are most popular, where users encounter difficulties, and how the product can be optimized to meet user needs and business goals.
As of my last knowledge update in September 2021, product analytics was gaining importance as organizations sought to better understand user behavior, optimize product features, and improve customer experiences. While the product analytics landscape may have evolved since then, here are some key factors that were expected to influence the growth of the product analytics market.
The global product analytics market size was evaluated at $xx billion in 2018 and is slated to hit $xx billion by the end of 2025
with a CAGR of nearly xx% between 2018 and 2025.
On the basis of region, the product analytics market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America is anticipated to hold a substantial share during the forecast period, owing to the presence of major players such as Oracle, Google, Adobe, and Salesforce North America coupled with the adoption of artificial intelligence, machine learning, business intelligence, and developing analytical solutions. Several industries such as automotive, travel & hospitality, education, and pharmaceuticals use product analytics to study the user to enhance their experience by offering improved services.
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