The rise in mobile computing has also led to an increase in mobile data analytics, as employers look to gain more business insights at the edge of the enterprise network.
The global mobile analytics market will reach $6.48 billion by 2023 from $1.74 billion in 2017, at a compound annual growth rate (CAGR) of 25% during the period, according to research firm Research and Markets.
One of the key drives of the market is a growing focus on business intelligence, the report said. The growth of smartphones has also accelerated the demand for mobile analytics capabilities. On the other hand, a lack of awareness of the benefits of mobile analytics and shortage of skilled professionals have restrained the growth of the market, it said.
Another report, from research firm Markets and Markets, estimates the global mobile analytics market will grow from $1.36 billion in 2015 to $4.12 billion by 2020, at a CAGR of 25%.
The report said factors such as smartphone penetration and explosive growth in demand for mobile analytics are driving the market globally. It’s expected that over the next five years ecommerce and mobile shopping will continue to boost the use of mobile apps, and more than 60 percent of Internet use is expected to come from mobile devices.
Also driving growth of the market are the rise of big data initiatives and increasing use of mobile advertising, the study said. Niche players provide the majority of the mobile analytics products, and many other companies have emerged and are expected to evolve in the coming years, it said.
The mobile analytics market is divided by type, including mobile advertising and marketing analytics, in-app behavioral analytics, application performance analytics, and others. The technology can be deployed via the cloud or on-premise solutions.
