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Mobile Analytics Market to touch USD $4.12 Billion by 2020

Analytics play a vital role in business and helping companies in decision making. Of late, companies can get most advanced mobile analytics solutions in the market as per their requirement regardless of their business size. IT companies have been developing best mobile analytics solutions for their customers in addressing their business needs.

According to the research firm, Market and Market, the mobile analytics market is expected to touch 4.12 billion by 2020 and it will grow at a CAGR of 24 percent between 2018 and 2020.

The factors like — smartphone penetration, big data, mobile advertising and explosive growth in mobile analytics — are driving the mobile analytics market globally. There will be a huge adoption of these technologies in all sectors including healthcare and life science industry. The contribution of these two sectors will be higher in the mobile analytics market compared to other sectors.

Mobile usage has been transformed many businesses including e-commerce companies. The internet usage on the mobile has increased many folds in the last couple of years. It is speculated that 60 percent of the internet usage is expected from mobile phones in the next three years. This indicates that companies would like to reach to their customers through their mobiles. It is considered as going digital is the key mantra for success in business. For e-commerce companies, the growth figures of mobile users will have a decisive impact on these companies as they would get more online customers for their products and services. There will be more opportunities for customers as well as for companies. The use of the mobile analytics will have a huge impact on the companies and their decision-making process.

The demand for mobile analytics is expected to grow rapidly in the APCA region. The mobile analytics will help the companies in the region to understand their business and growth prospects.

The mobile analytics will be crucial for the companies to know the consumer behavior. It will also help the companies formulate their CRM policies and improve the customer engagement on the digital platform.  By churning the data from the mobile analytics, the companies can manage and improve their customer services more effectively.