Product Analytics Market

Product Analytics Market by Mode (Tracking Data, Analyzing Data), Component, End-User (Designers, Manufacturers, Sales & Marketing Professionals, Consumer Engagement), Deployment, Enterprise Size, Vertical, and Region - Global Forecast to 2024

Report Code: TC 7235 Jul, 2019, by marketsandmarkets.com

[109 pages Report] The global product analytics market size is projected to grow from USD 6.9 billion in 2019 to USD 13.9 billion by 2024, at a CAGR of 15.1% during 2019–2024. Major growth factors for the market include manufacturers’ need for ensuring market competitiveness and growing adoption of big data and other related technologies

Product Analytics Market

SMEs to grow at the highest CAGR during the forecast period

The management of SMEs is concerned about the expenditures of deploying on-premises product analytics solutions and contracting skilled staff and IT teams for their maintenance. SMEs are leaning toward cloud-based solutions to overcome these issues. The industry players are also making efforts to improve their profit margins and increase their market share by either introducing dedicated cloud platforms or associating with other cloud service organizations

Retail & consumer goods vertical to hold the largest market size during the forecast period

Product analytics in this vertical assist vendor to get a more detailed understanding of consumer needs & attitudes, which helps make faster decisions in day-to-day business, and deliver improved performance. In the vertical, the focus of product analytics is sales in which analytics has a significant impact followed by marketing, finance, and supply chain. Several companies in the vertical are making vast improvements to their internal data and BI system, along with substantial investments in a mix of on-premises and cloud-based analytics that provides flexibility to scale while leveraging the existing IT investment.

Product Analytics Market

North America to hold the largest market size during the forecast period

Owing to the presence of tech-giants, such as Google, Oracle, and IBM in North America, rapid adoption of technological trends, such as BI, AI, ML, cloud technology, and analytics solutions are observed. Various verticals, such as retail, banking, financial services, & insurance (BFSI), education, and travel & hospitality use product analytics, to analyze the user, and enhance their experience, by offering better services. For instance, Amazon Go is changing the traditional shopping experience by using analytics to drive sales and consumer engagements. Product analytics makes that data useful by integrating all data sources into one single organized view that can prove helpful for obtaining easy insights.

Product Analytics Market Players:

Key market players profiled in this report Google (US), IBM (US), Oracle (US), Adobe (US), Salesforce (US), Mixpanel (US), Piwik PRO (Poland), Amplitude (US), and Heap (Denmark) Plytix (US), Pendo (US), Risk Edge Solutions (India), LatentView (US) ,Kissmetrics (US). The players offer product analytics solutions to cater to the demands and needs of the market. Major growth strategies adopted by the players include partnerships, collaborations & agreements, and new product launches/product enhancements.

Scope of the Report

Report Metrics

Details

Market size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value (USD)

Segments covered

Mode, Components, Deployment, Organization Size, End Users, Verticals, and Region

Geographies covered

North America, Europe, Asia Pacific, and Rest of World

Companies covered

Google (US), IBM (US), Oracle (US), Adobe (US), Salesforce (US), Mixpanel (US), Piwik PRO (Poland), Amplitude (US), and Heap (Denmark) Plytix (US) ,Pendo (US),Risk Edge Solutions (India), LatentView (US), and Kissmetrics (US)

The research report categorizes the product analytics market to forecast revenues and analyze trends in each of the following submarkets:

By Component the market has the following segments:

  • Solutions
  • Services

By Mode the product analytics market has the following segments:

  • Tracking Data
  • Analyzing Data

By Deployment the market has the following segments:

  • Cloud
  • On-premises

By Organization Size, the market has the following segments:

  • Small & Medium Enterprises
  • Large Enterprises

By End-users the Product Analytics market has the following segments:

  • Designers
  • Manufacturers
  • Sales & Marketing Professionals
  • Consumer Engagement

By Vertical, the market has the following segments:

  • Automotive
  • Retail & Consumer Goods
  • F&B Manufacturing
  • Machinery & Industrial Equipment Manufacturing
  • Healthcare & Pharmaceuticals
  • Energy & Utilities
  • Others*

*Others include software and services and media and entertainment

By Region, the product analytics market has the following segments:

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Rest of World
    • Middle East & Africa
    • Latin America

Recent Developments

  1. In June 2019, Google acquired Looker, a provider of BI software for data analysis. The acquisition enables Google to enhance its Google Cloud by adding BI software to it.
  2. In June 2019, Oracle partnered with Genpact to enhance customer experience with the help of Oracle Analytics Cloud. Genpact used Oracle Analytics, along with its software, for airline customers to create value for its manufacturing process and increase travel safety.
  3. In May 2019 Oracle partnered with An Post, Ireland’s main postal provider and the largest retail network in the country. With the help of Oracle Analytics Cloud, An Post obtains data from various sources, such as finance, manpower management, parcels and mail operations, and retail. The analysis is then provided to customers and the staff of An Post through interactive self-service dashboards.

Key Questions Addressed by the Report

  • What are the opportunities in product analytics market?
  • What is the competitive landscape in the market?
  • What are the data regulations that will impact the market?
  • What are the major growth factors for the product analytics market in North America?
  • What are the dynamics of the market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
    1.4 Years Considered for the Study
    1.5 Currency Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Breakup of Primary Profiles
           2.1.2 Key Industry Insights
    2.2 Market Breakup and Data Triangulation
    2.3 Product Analytics Market Size Estimation
           2.3.1 Top-Down Approach
           2.3.2 Bottom-Up Approach
    2.4 Assumptions for the Study
    2.5 Competitive Leadership Mapping Methodology
    2.6 Limitations of the Study

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 29)
    4.1 Attractive Opportunities in the Product Analytics Market
    4.2 Market By End User, 2019
    4.3 North America: Market By Component and Deployment
    4.4 Asia Pacific: Market By Component and Deployment

5 Market Overview and Industry Trends (Page No. - 31)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Manufacturers’ Need for Ensuring Market Competitiveness
                    5.2.1.2 Growing Adoption of Big Data and Other Related Technologies
           5.2.2 Restraints
                    5.2.2.1 Changing Regional Data Regulations Leading to the Time-Consuming Restricting Predictive Models
                    5.2.2.2 Growing Concerns Over Data Privacy and Critical Data Theft
           5.2.3 Opportunities
                    5.2.3.1 Rising Advent in Artificial Intelligence and Machine Learning
                    5.2.3.2 Growing Demand for Cloud-Based Analytical Solutions and Managed Platform Vendors
           5.2.4 Challenges
                    5.2.4.1 Reluctance to Adopt Advanced Analytical Technologies

6 Product Analytics Market By Mode (Page No. - 35)
    6.1 Introduction
    6.2 Tracking Data
           6.2.1 Rising Need of Detailed Information Led to Rapid Adoption of Data Tracking
    6.3 Analyzing Data
           6.3.1 Rising Need of Data Analysis Owing to Business Intelligence and Knowledge Discovery

7 Market By End User (Page No. - 38)
    7.1 Introduction
    7.2 Designers
           7.2.1 Designers to Rely More on Product Analytics Solutions for Offering Enhanced User Experience
    7.3 Manufacturers
           7.3.1 Manufacturers to Rely on Product Analytics Solutions to Enable Cost-Effective Production Plans
    7.4 Sales and Marketing Professionals
           7.4.1 Advent of Digitalization Across All Verticals to Boost the Deployment of Product Analytics Solutions in Sales and Marketing Professionals
    7.5 Consumer Engagement
           7.5.1 Increasing Demand for Enhanced User Experience to Drive the Growth of the Product Analytics Market By Consumer Engagement Businesses

8 Market By Component (Page No. - 41)
    8.1 Introduction
    8.2 Solutions
           8.2.1 Growing Adoption of Product Analytics Solutions By Small and Medium-Sized Enterprises to Drive the Growth Rate of the Solutions Segment
    8.3 Services
           8.3.1 Professional Services
                    8.3.1.1 Growing Requirement for Customized Solutions to Boost the Professional Services Industry
           8.3.2 Managed Services
                    8.3.2.1 Customers With Ongoing Demands and Alterations in the Solutions to Support Managed Services

9 Market By Enterprise Size (Page No. - 45)
    9.1 Introduction
    9.2 Small and Medium-Sized Enterprises
           9.2.1 Robust Cloud-Based Deployments to Lead Small and Medium-Sized Enterprises to Record a Higher Growth Rate
    9.3 Large Enterprises
           9.3.1 Manufacturing and Automotive Verticals to Drive the Adoption of Product Analytics Solutions Across Large Enterprises

10 Product Analytics Market By Deployment (Page No. - 48)
     10.1 Introduction
     10.2 Cloud
             10.2.1 Reduced Operational Cost and Higher Scalability to Enable Growth in Cloud-Based Deployments
     10.3 On-Premises
             10.3.1 With Growing Threat of Data Thefts Some Organizations Prefer Product Analytics Solutions to Remain On-Premises

11 Market By Vertical (Page No. - 51)
     11.1 Introduction
     11.2 Automotive
             11.2.1 Rising Need of Product Analytics for Acquisition and Retention of Customers
     11.3 Retail and Consumer Goods
             11.3.1 Understanding of Consumer Needs and Attitudes, and Delivering Improved Performance With the Help of Product Analytics Solutions
     11.4 F&B Manufacturing
             11.4.1 Consistency in Quality and Taste to Lead the Rapid Adoption of Product Analytics Solutions
     11.5 Machinery and Industrial Equipment Manufacturing
             11.5.1 Product Analytics to Optimize Decision-Making, Boost Productivity, Increase Quality, Reduce Energy and Material Consumption, and Surge Flexibility
     11.6 Healthcare and Pharmaceuticals
             11.6.1 Real-Time Decision-Making to Provide New Innovative Solutions and Treatments for Patients Led to Rising Need for Product Analytics Solutions
     11.7 Energy and Utilities
             11.7.1 Growing Demand for Intelligent Production, Distribution, and Consumption of Energy and Utilities Led to the Growth of Product Analytics Solutions in This Vertical

12 Product Analytics Market By Region (Page No. - 55)
     12.1 Introduction
     12.2 North America
             12.2.1 United States
                       12.2.1.1 Rapid Adoption and use of Digitally Innovative Solutions, Presence of Tech-Giants, and Growth of Social Media Platforms to Drive the Product Analytics Market Growth
             12.2.2 Canada
                       12.2.2.1 Startup Ecosystem and Growth in the Need for Real-Time Decision-Making to Drive the Growth of Product Analytics Solutions in Canada
     12.3 Europe
             12.3.1 United Kingdom
                       12.3.1.1 Advanced It Infrastructure and Skilled Workforce to Drive the Growth of Product Analytics Solutions in the UK
             12.3.2 Germany
                       12.3.2.1 Government Initiatives for Technological Developments in the Manufacturing Vertical to Drive the Growth of Product Analytics Solutions in Germany
             12.3.3 France
                       12.3.3.1 Heavy R&D Investments and Strong Hold of Retail, Aerospace and Defense, and Manufacturing Verticals to Drive the Growth of the Product Analytics Market in France
     12.4 Asia Pacific
             12.4.1 China
                       12.4.1.1 Exponential Growth of Internet Penetration and Ecommerce Players to Drive the Growth of Product Analytics Solutions in China
             12.4.2 Japan
                       12.4.2.1 Rise of Innovative Technologies and Collaboration Between Governments and Business for Digital Transformation in Japan
             12.4.3 South Korea
                       12.4.3.1 Heavy Investments in R&D for Innovative Technologies By Government in South Korea Led to the Growth of the Product Analytics Solutions
     12.5 Rest of the World

13 Competitive Landscape (Page No. - 74)
     13.1 Competitive Leadership Mapping
             13.1.1 Visionary Leaders
             13.1.2 Innovators
             13.1.3 Dynamic Differentiators
             13.1.4 Emerging Companies
     13.2 Strength of Product Portfolio (17 Players)
     13.3 Business Strategy Excellence (17 Players)
     13.4 Ranking of Key Players for the Product Analytics Market, 2019

14 Company Profiles (Page No. - 78)
     14.1 Introduction
(Business Overview, Products & Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     14.2 Google 
     14.3 IBM 
     14.4 Oracle 
     14.5 Adobe 
     14.6 Salesforce 
     14.7 Mixpanel 
     14.8 Piwik PRO 
     14.9 Amplitude 
     14.10 Heap 
     14.11 Plytix 
     14.12 Pendo 
     14.13 Risk Edge Solutions 
     14.14 LatenTView 
     14.15 Kissmetrics

*Details on Business Overview, Products & Key Insights, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.

15 Appendix (Page No. - 102)
     15.1 Discussion Guide
     15.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.3 Available Customization
     15.4 Related Reports
     15.5 Author Details


List of Tables (41 Tables)

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Product Analytics Market Size, By Mode, 2017–2024 (USD Million)
Table 3 Market Size By End User, 2017–2024 (USD Million)
Table 4 Market Size By Component, 2017–2024 (USD Million)
Table 5 Market Size By Service, 2017–2024 (USD Million)
Table 6 Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 7 Market Size By Deployment, 2017–2024 (USD Million)
Table 8 Market Size By Vertical, 2017–2024 (USD Million)
Table 9 Market Size By Region, 2017–2024 (USD Million)
Table 10 North America: Product Analytics Market Size, By Component, 2017–2024 (USD Million)
Table 11 North America: Market Size By Mode, 2017–2024 (USD Million)
Table 12 North America: Market Size By Service, 2017–2024 (USD Million)
Table 13 North America: Market Size By Deployment, 2017–2024 (USD Million)
Table 14 North America: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 15 North America: Market Size By End User, 2017–2024 (USD Million)
Table 16 North America: Market Size By Vertical, 2017–2024 (USD Million)
Table 17 North America: Market Size By Country, 2017–2024 (USD Million)
Table 18 Europe: Product Analytics Market Size, By Component, 2017–2024 (USD Million)
Table 19 Europe: Market Size By Mode, 2017–2024 (USD Million)
Table 20 Europe: Market Size By Service, 2017–2024 (USD Million)
Table 21 Europe: Market Size By Deployment, 2017–2024 (USD Million)
Table 22 Europe: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 23 Europe: Market Size By End User, 2017–2024 (USD Million)
Table 24 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 25 Europe: Market Size By Country, 2017–2024 (USD Million)
Table 26 Asia Pacific: Product Analytics Market Size, By Component, 2017–2024 (USD Million)
Table 27 Asia Pacific: Market Size By Mode, 2017–2024 (USD Million)
Table 28 Asia Pacific: Market Size By Service, 2017–2024 (USD Million)
Table 29 Asia Pacific: Market Size By Deployment, 2017–2024 (USD Million)
Table 30 Asia Pacific: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 31 Asia Pacific: Market Size By End User, 2017–2024 (USD Million)
Table 32 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 33 Asia Pacific: Market Size By Country, 2017–2024 (USD Million)
Table 34 Rest of the World: Product Analytics Market Size, By Component, 2017–2024 (USD Million)
Table 35 Rest of the World: Market Size By Mode, 2017–2024 (USD Million)
Table 36 Rest of the World: Market Size By Service, 2017–2024 (USD Million)
Table 37 Rest of the World: Market Size By Deployment, 2017–2024 (USD Million)
Table 38 Rest of the World: Market Size By Enterprise Size, 2017–2024 (USD Million)
Table 39 Rest of the World: Market Size By End User, 2017–2024 (USD Million)
Table 40 Rest of the World: Market Size By Vertical, 2017–2024 (USD Million)
Table 41 Rest of the World: Market Size By Country, 2017–2024 (USD Million)
 
 
List of Figures (35 Figures)
 
Figure 1 Product Analytics Market: Research Design
Figure 2 Research Methodology
Figure 3 Product Analytics Market: Top-Down and Bottom-Up Approaches
Figure 4 Competitive Leadership Mapping: Criteria Weightage
Figure 5 Manufacturers to Lead the End Users Segment in Deploying Product Analytics Solutions During the Forecast Period
Figure 6 Cloud Segment to Account for a Higher Market Share By 2024
Figure 7 Retail and Consumer Goods Vertical to Account for the Largest Market Size During the Forecast Period
Figure 8 North America to Account for the Highest Growth Rate From 2019 to 2024
Figure 9 Strong Adoption By Designers and Manufacturers to Enable Rapid Growth Rate for Product Analytics Solutions
Figure 10 Manufacturers Segment to Account for the Highest Market Share in 2019
Figure 11 Solutions and Cloud Segments to Record Higher Market Shares in North America in 2019
Figure 12 Solutions and Cloud Segments to Record Higher Market Shares in Asia Pacific in 2019
Figure 13 Product Analytics Market: Drivers, Restraints, Opportunities, and Challenges
Figure 14 Analyzing Data Segment to Record a Higher Growth Rate During the Forecast Period
Figure 15 Designers Segment to Record the Highest Growth Rate in Deploying Product Analytics Solutions
Figure 16 Solutions Segment to Account for a Higher Market Share in 2019
Figure 17 Managed Services Segment to Record a Higher Growth Rate During Forecast Period
Figure 18 Small and Medium-Sized Enterprises Segment to Forecast a Higher Growth Rate During the Forecast Period
Figure 19 Cloud Segment to Forecast a Higher Growth Rate During the Forecast Period
Figure 20 Automotive Vertical to Record the Highest Growth Rate During the Forecast Period
Figure 21 Product Analytics Market in Asia Pacific to Grow at the Highest CAGR From 2019 to 2024
Figure 22 North America: Market Snapshot
Figure 23 Asia Pacific: Market Snapshot
Figure 24 Product Analytics Market (Global) Competitive Leadership Mapping, 2019
Figure 25 Ranking of Key Players, 2019
Figure 26 Google: Company Snapshot
Figure 27 Google: SWOT Analysis
Figure 28 IBM: Company Snapshot
Figure 29 IBM: SWOT Analysis
Figure 30 Oracle: Company Snapshot
Figure 31 Oracle: SWOT Analysis
Figure 32 Adobe: Company Snapshot
Figure 33 Adobe: SWOT Analysis
Figure 34 Salesforce: Company Snapshot
Figure 35 Salesforce: SWOT Analysis

The study involved four major activities in estimating the current size of the product analytics market. Extensive secondary research was done to collect information on the market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakup and data triangulation procedures were used to estimate the size of the segments and subsegments of the market.

Secondary Research

In the secondary research process, various secondary sources, such as D&B Hoovers, Bloomberg BusinessWeek, and Factiva have been referred to for identifying and collecting information for the study. The secondary sources included annual reports, press releases and investor presentations of companies; whitepapers, certified publications, and articles by recognized authors; gold standard and silver standard websites; regulatory bodies; trade directories; and databases.

Primary Research

The product analytics market comprises several stakeholders, such as service providers, solution vendors, system integrators, technology partners, consulting firms, research organizations, managed service providers, government agencies, financial bodies, resellers and distributors, enterprise users, and technology providers. The demand side of the market consists of financial institutions, investors, and insurance companies. The supply side includes product analytics solutions providers. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the profile breakup of the primary respondents:

Product Analytics Market

To know about the assumptions considered for the study, download the pdf brochure

Product Analytics Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the product analytics market. The methods were also used extensively to estimate the size of various segments in the market. The research methodology used to estimate the market size includes the following:

  • Key players in the market have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakups have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakup procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To determine and forecast the global product analytics market by mode, components, deployment, organization size, end users, verticals, and region from 2019 to 2024, and analyze the various macroeconomic and microeconomic factors that affect the market growth
  • To forecast the size of the market segments with respect to 5 main regions: North America, Europe, Asia Pacific (APAC), and Rest of World (RoW)
  • To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall market
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakup of the APAC market into countries contributing 75% to the regional market size
  • Further breakup of the North American market into countries contributing 75% to the regional market size
  • Further breakup of the Latin American market into countries contributing 75% to the regional market size
  • Further breakup of the MEA market into countries contributing 75% to the regional market size
  • Further breakup of the European market into countries contributing 75% to the regional market size

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)

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Competitive Landscape

 
 
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Report Code
TC 7235
Published ON
Jul, 2019
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