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Product Analytics Market Size, $28,090.5 Million by 2028 Lead by Cloud-Based Deployment, 17.4% CAGR - Exclusive Research Report by The Insight Partners

·8 min read

The product analytics market size growing at 17.4% CAGR during 2021 to 2028 and projected to reach $28,090.5 million by 2028 from $9,165.5 million in 2021.

New York, Jan. 24, 2022 (GLOBE NEWSWIRE) -- According to our new research study on “Product Analytics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solutions and Services), Deployment (On Premise and Cloud-Based), Mode (Tracking Data and Analyzing Data), and Vertical (Retail and Consumer Goods, Food and Beverages, Healthcare and Pharmaceuticals, Energy and Utilities, Automotive, Manufacturing, and Others)”, published by The Insight Partners.


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Report Coverage

Details

Market Size Value in

US$ 9,165.5 million in 2021

Market Size Value by

US$ 28,090.5 million by 2028

Growth rate

CAGR of 17.4% from 2021 to 2028

Forecast Period

2021-2028

Base Year

2021

No. of Pages

187

No. Tables

115

No. of Charts & Figures

94

Historical data available

Yes

Segments covered

Component, Deployment, Mode, and Vertical

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends


Product Analytics Market: Competitive Landscape and Key Developments
Amplitude, Gainsight, Heap Inc., and IBM Corporation are among the key players profiled during the study of the product analytics market. In addition, several other essential market players were studied and analyzed to get a holistic view of the market and its ecosystem.


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In December 2021, Heap raised US $110M Series D round to fund the future of digital analytics. Heap will use the funds to expand its global operations and speed up research and development of the industry’s most comprehensive digital analytics platform for product builders, growth marketers, and fast-moving analytics teams.

Based on component, the global product analytics market is bifurcated into solutions and services. Product analytics solutions empower product teams to gain insights on the features and customer actions that lead to outcomes. The solutions also help them gain a deeper understanding of how customers experience digital products. Benefits offered by product analytics solutions such as analyzing behaviors, identifying personas, tracking engagement, and enabling teams to easily see the complete picture and take faster action are propelling the growth of the market for the solutions segment. Amplitude offers its product analytics solutions to more than 1,400 customers and 26 of the Fortune 100 to analyze how customers use their products to maximize business outcomes. Similarly, Gainsight provides tools for the in-depth analysis of customer experience data to uncover customers’ demands. It also helps collect feedback from any part of the customer journey by bringing all of the structured and unstructured data into a single view, such as surveys, meeting notes, and online reviews. Heap Inc helps Software as a Service (SaaS) companies understand their users, get advanced signals on customer behavior, and build better products. The product analytics solution automatically captures all user data from every click, swipe, pageviews, and fill and helps organizations make data-driven decisions.


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North America is expected to garner a significant revenue share of the global product analytics market during the forecast period. In the coming years, North America is anticipated to lead in the business analytics market as more than half of global big data revenues are expected to come from the US. The regional market growth is attributed to the surge in technological advancements and increase in the number of product analytics market players, especially in the US. The growing demand for the managed platform and cloud-based analytical solutions would create lucrative growth opportunities for the product analytics market players during the forecast period.

Surge in Demand for Cloud-Based Analytical Solutions to Propel Product Analytics Market Growth in Coming Years:
Cloud computing environments, where data is kept remotely in distributed storage systems, allow IT infrastructure to be scaled up or down quickly. Pay-as-you-go arrangements are also facilitated in these contexts. This means that businesses that need to process massive amounts of data and have a lot of storage and processing capacity do not have to invest in an extensive IT infrastructure. Instead, companies can license the storage and processing capacity they require and pay only for their use. As a result, most large companies that deal with significant amounts of data are turning to cloud computing to supply their solutions to businesses. However, migrating data from an on-premises solution to the cloud is complicated and time-consuming. These factors are not preventing people from using cloud-based solutions. Instead, they are encouraging them to use hybrid and multi-cloud installations. Cloud storage is being used by early adopters for dynamic workloads, while on-premises platforms are still beneficial for steady applications. Due to these benefits, key players in the product analytics market are rapidly adopting the cloud platform, which is expected to support the market in the near future.


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Product Analytics Market: Component Overview
Based on component, the global product analytics market is bifurcated into solutions and services. Service offerings and capabilities are tailored to the needs and goals of each customer from consulting to customized application integrations. Hence, companies in the global product analytics market are providing a diverse set of support services to users. For instance, Pendo.io, Inc. ensures a comprehensive approach leading to the company’s success. The Pendo team provides the support, enablement, and training required to implement Pendo product analytics solutions and integrate with existing systems. The company’s team of engagement managers, solutions engineers, and technical onboarding specialists helps over 500 customers to implement and leverage Pendo successfully.




Browse Adjoining Reports:
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Cloud Analytics Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Solution (Cloud BI Tools, Hosted Data Warehouse Solutions, Complex Event Processing, Enterprise Information Management, Enterprise Performance Management, Risk and Compliance, Analytics solutions); Deployment Type (Public Cloud, Private Cloud, Hybrid Cloud); Enterprise Size (Small and Medium-Size Enterprises, Large Enterprises); End-user (BFSI, IT and Telecom, Retail and Consumer Goods, Healthcare, Media and Entertainment, Government and Education, Manufacturing, Energy and Power, Others) and Geography

User and Entity Behavior Analytics Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Deployment Model (Cloud, On-premises), Product (Data Source & Integration; Data Analytics; Data Presentation & Visualization; Source Systems & Applications; Service Delivery and SIEM, SIRP & Service Desk Tools), Applications (Threat Identification, Attack Spotting, Privilege Misuse Identification, Privileged Account Identification and Tracking Data Access & Exfiltration), End-user Industry (Defense, BFSI, Retail & E-Commerce, IT & Telecom, Energy & Utility, Healthcare, Others)

Security Analytics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Solutions, Service); Solution (Network Security Analytics, Web Security Analytics, End Point Security Analytics, Others); Deployment (On-premise, Cloud, Hybrid); Industry Vertical (BFSI, Telecom and IT, Government and Defense, Consumer Goods and Retail, Others) and Geography

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Energy and Utility Analytics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Software and Service), By Deployment Model (On-Premise, Cloud and Hybrid), By Application (Load Forecasting, Customer Analytics, Grid Analytics, Asset Management, Smart Meter Analytics, Others), and By Verticals (Oil & Gas, Renewable Energy, Nuclear Power, Electricity, and Water, Others)

TV Analytics Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Component (Software, Services); Transmission (Cable TV, Satellite TV/Direct-To-Home, Internet Protocol Television, Over-The-Top); Deployment (On premise, Cloud); Application (Competitive Intelligence, Customer Lifetime Management, Churn Prevention and Behavior Analysis, Campaign Management, Content Development, Audience Forecasting, Others) and Geography

Connected Device Analytics Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Component (Solutions, Services); Deployment Mode (Cloud, On-premises); Organization Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)); Application (Security and Emergency Management, Sales and Customer Management, Remote Monitoring, Predictive Maintenance and Asset Management, Inventory Management, Energy Management, Building Automation, Others); Industry Vertical (Manufacturing, Transportation and Logistics, Energy and Utilities, Retail and E-commerce, BFSI, Healthcare and Life Sciences, Government and Defense, Others) and Geography

Emotion Analytics Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Speech Analytics, Facial Analytics, Video Analytics, Others); End User (Industrial, Commercial, Government, Others) and Geography

Streaming Analytics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Sales and Marketing, Network Management and Optimization, Fraud Detection, Asset Management, Others); Deployment Type (On-premises, Cloud, Hybrid); End-user (BFSI, IT and Telecom, Healthcare, Retail, Media and Entertainment, Others) and Geography





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