Recent Updates
  • IoT in Manufacturing Market is Dominated by North America
    The total value of the IoT in manufacturing market was over $62 billion in 2021, and it will rise at a growth rate of 13.9%, to reach $200.3 billion by 2030. The major reasons responsible for the growth of this industry are improving inventory management technologies, the surging need for higher production efficiency, and rapid industrial automation. In 2021, the solution category had the...
    0 Comments 0 Shares 267 Views
  • High Costs of Private Data Centers Fueling Popularity of Data Center Colocation
    With the increasing costs of maintaining private data centers and the generation of large but inconsistent volumes of data, enterprises are increasingly preferring renting data centers, which are also known as colocation data centers. For instance, the development of a private data center facility can cost as much as $200 per square foot, excluding the $10,000 per mile cost of setting up fiber...
    0 Comments 0 Shares 269 Views
  • Contact Center Software Market to Reach $102,751.5 Million by 2030
    In 2021, the contact center software market was $23,161.7 million, and it is likely to advance at an 18% CAGR from 2021 to 2030 and reach $102,751.5 million. The industrial growth can be mainly credited to the surging incorporation of AI-powered software into cloud-based contact centers, to augment customer experience. Furthermore, businesses influence smart technologies, like mobile...
    0 Comments 0 Shares 252 Views
  • Rising Demand for Workforce Optimization To Drive HR Analytics Market
    Driven by the changing business dynamics, increasing demand for an optimized workforce and efficient hiring, shift toward data-driven decision making, and growing need for effective talent retention strategies, the HR analytics market will witness a CAGR of 15.6% during the forecast period of 2019–2024. At this rate of progression, the value of the market is expected to increase from...
    0 Comments 0 Shares 243 Views
  • Rapid Digitalization Driving Product Analytics Market

    The global product analytics market generated a revenue of $7,309.3 million in 2018, and it is predicted to reach a value of $16,804.8 million by 2024, exhibiting a CAGR of 15.3% from 2019 to 2024 (forecast period). The market is being driven by various factors, such as the increasing number of mobile application users, growing digitalization, emergence of predictive analytics and artificial intelligence (AI), and mushrooming use of social media platforms across the globe.

    With rising digitization and digital engagement, the consumer pool of retail, e-commerce, banking, e-gaming, and various other digital service providing organizations is soaring. Moreover, the expectation of customers for on-demand, reliable, and fast services during digital transactions and interactions is also surging. This is subsequently pushing up the requirement for product analytics solutions, as these solutions assist in tracking the behavior of customers and improving the offerings of companies. Furthermore, with rapid digitalization, many enterprises are increasingly developing digital intelligence to adapt quickly to the changing behavior of customers and provide personalized services with increased interaction.

    Besides the aforementioned factor, the rising internet penetration in developing nations, such as China and India, and developed economies, such as Singapore, Australia, and the U.S., is also propelling the growth rate of the product analytics market. According to the World Bank, around 57.0% of the global population had access to the internet in 2019. Furthermore, according to the Office for National Statistics, out of all households in Great Britain, 90% had access to the internet in 2018.

    Additionally, the organization also reported that the share of daily internet users in the island’s population surged from 35% in 2006 to 86% in 2018. Depending on service type, the market is divided into professional and managed services. Between these, the professional services category contributed higher revenue to the market in 2018, because of the high requirement for expert insights into the use and adoption of advanced analytics solutions along with the need for consultancy.

    When deployment type is taken into consideration, the product analytics market is classified into cloud-based and on-premises. Between the two, the cloud-based category dominated the market in the years gone by, and it is predicted to exhibit faster growth throughout the forecast period. This will be because the cloud-based deployment mode provides flexible storage and fast data access to product teams, which, in turn, enables better tracking of customer behavior.

    The product analytics market is also categorized, based on industry, into banking, financial services, and insurance (BFSI), manufacturing, media and entertainment, automotive, healthcare, government, energy and utilities, and retail. Out of these, the BFSI category will generate the highest revenue in the market in the coming years, according to the market research firm, P&S Intelligence. This will be because of the rapid shift from conventional banking to digital banking, burgeoning requirement for personalized banking services, growing need for providing improved customer services, and surging customer preference for digital channels.

    Thus, the market will boom in the upcoming years, mainly because of the rapid digitalization, surging number of mobile application users, and growing use of social media platforms across the world.

    Read More: https://www.psmarketresearch.com/market-analysis/product-analytics-market
    Rapid Digitalization Driving Product Analytics Market The global product analytics market generated a revenue of $7,309.3 million in 2018, and it is predicted to reach a value of $16,804.8 million by 2024, exhibiting a CAGR of 15.3% from 2019 to 2024 (forecast period). The market is being driven by various factors, such as the increasing number of mobile application users, growing digitalization, emergence of predictive analytics and artificial intelligence (AI), and mushrooming use of social media platforms across the globe. With rising digitization and digital engagement, the consumer pool of retail, e-commerce, banking, e-gaming, and various other digital service providing organizations is soaring. Moreover, the expectation of customers for on-demand, reliable, and fast services during digital transactions and interactions is also surging. This is subsequently pushing up the requirement for product analytics solutions, as these solutions assist in tracking the behavior of customers and improving the offerings of companies. Furthermore, with rapid digitalization, many enterprises are increasingly developing digital intelligence to adapt quickly to the changing behavior of customers and provide personalized services with increased interaction. Besides the aforementioned factor, the rising internet penetration in developing nations, such as China and India, and developed economies, such as Singapore, Australia, and the U.S., is also propelling the growth rate of the product analytics market. According to the World Bank, around 57.0% of the global population had access to the internet in 2019. Furthermore, according to the Office for National Statistics, out of all households in Great Britain, 90% had access to the internet in 2018. Additionally, the organization also reported that the share of daily internet users in the island’s population surged from 35% in 2006 to 86% in 2018. Depending on service type, the market is divided into professional and managed services. Between these, the professional services category contributed higher revenue to the market in 2018, because of the high requirement for expert insights into the use and adoption of advanced analytics solutions along with the need for consultancy. When deployment type is taken into consideration, the product analytics market is classified into cloud-based and on-premises. Between the two, the cloud-based category dominated the market in the years gone by, and it is predicted to exhibit faster growth throughout the forecast period. This will be because the cloud-based deployment mode provides flexible storage and fast data access to product teams, which, in turn, enables better tracking of customer behavior. The product analytics market is also categorized, based on industry, into banking, financial services, and insurance (BFSI), manufacturing, media and entertainment, automotive, healthcare, government, energy and utilities, and retail. Out of these, the BFSI category will generate the highest revenue in the market in the coming years, according to the market research firm, P&S Intelligence. This will be because of the rapid shift from conventional banking to digital banking, burgeoning requirement for personalized banking services, growing need for providing improved customer services, and surging customer preference for digital channels. Thus, the market will boom in the upcoming years, mainly because of the rapid digitalization, surging number of mobile application users, and growing use of social media platforms across the world. Read More: https://www.psmarketresearch.com/market-analysis/product-analytics-market
    WWW.PSMARKETRESEARCH.COM
    Product Analytics Market Size, Share | Industry Growth, 2019-2024
    The global product analytics market valued at $7,309.3 million in 2018, and is expected to advance at a CAGR of 15.3% during the forecast period (2019–2024), The large enterprises category held more than double the share of the SMEs category in 2018
    0 Comments 0 Shares 224 Views
  • Rising Volume of Digital Payments Driving Anti-Money Laundering Solution Adoption
    According to the International Monetary Fund (IMF), money laundering refers to the processing of funds generated by criminal activity to conceal the link between them and their origins. Over the years, the IMF has intensified its anti-money laundering (AML) activities to respond to calls from the global community on reducing them. For instance, the Financial Action Task Force (FATF) works in...
    0 Comments 0 Shares 259 Views
More Stories