Market Size of App Analytics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 21.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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App Analytics Market Analysis
The App Analytics Market is expected to register a CAGR of approximately 20% during the forecast period (2021 - 2026). The increasing usage of mobile/web applications across various end-user industries is the major factor driving this growth.
- Several companies across industries are rapidly embracing digitalization, acting as a major catalyst for the adoption of mobile/web apps amongst the customers. According to a study by App Annie, the total number of mobile apps downloaded globally increased from 140.68 billion in 2016 to 204 billion in 2019.
- Another major factor driving the growth of adoption of app analytics solutions is the increasing usage of smartphones and mobile devices, which has significantly proliferated the usage and time spent on mobile apps. Also, the dependence on mobile devices is increasing the BYOD trends in the workplace, which is further stimulating the growth of the use of mobile devices.
- For instance, according to a study by Ofcom, most people in the UK are dependent on their digital devices and need a constant connection to the internet. 17% of people owned a smartphone in 2008 in the United Kingdom compared to 78% in 2018, with 95% among 16-24 year-olds. According to a study by Ofcom in 2018, people in the UK now check their smartphones, on average, every 12 minutes of the waking day. Such trends have proliferated the use of several mobile apps across the globe, which has increased the demand for app analytics amongst organizations across industries.
- Moreover, the Covid-19 pandemic and the worldwide lockdown rules have further triggered the use of several mobile/desktop apps, such as zoom video, gaming, and other entertainment apps, along with health and fitness apps and payment apps. For instance, according to a study by BARC, approximately 77% of the respondents use smartphones for payment apps in April 2020, compared to 73% of people in January 2020.
