By Zion Rufus

The global mobile apps and web analytics market is experiencing significant growth as it is expected to hit a whopping $28.88 billion mark by 2028, growing at a CAGR of 18.16% according to reports published by Fior Markets.

The mobile apps and web analytics market which comprises of mobile advertising and marketing analytics, application testing and analytics, marketing automation, search engine tracking and ranking amongst others, captures data from websites, mobile apps, and web apps to trace the purchase journeys of consumers, understand their purchase behaviors, attract new users, retain old ones, and also to analyze actions taken over responsive websites in order to help companies make more informed decisions to improve the experience of their consumers.

Some of the key players operating in this market include Microsoft, Google, Facebook, Apple Inc., Amazon Web Services Inc., Mixpanel, Amplitude Inc., UXCam Inc., Oracle, Adobe, Flurry, AppsFlyer, and Upland Software Inc.

“The transformational power of business analytics and real-time data intelligence even in Nigeria’s advertising space cannot be over-emphasized,” says Austin Efienamokwu, Founder and CEO, Ubiquity Media Holding Limited, one of Nigeria’s leading creative solutions agency. 

“The time where we just buy media in places that we consider relevant for our client is gone. Now we need to make conscious efforts apply a measurement approach to the media we buy for our clients. As our world becomes increasingly delineated, we see new possibilities in how data, media and technology can be blended to build innovation and effective brand communications,” the media strategist opined.

Up from $7.60 billion in 2020, the growth can be credited to the acceleration and adoption of mobile apps and web analytics for advertising campaigns, rising importance of analytics to drive efficiency & enhanced ROI, optimization of digital marketing, and the increasing demand for website analytics solutions for analyzing & controlling the geographical distribution of website traffic.

Austin submitted further: “Business success doesn’t seem to be driven by size or scale as much anymore, the world is moving away from scale to strategic capabilities. Our strategic capabilities such as in data, analytics and tech gets us to parity with the strongest players in the marketplace. If you have data and analytics, you have the power to give your clients advice around growth and to drive their business transformation.”

Similarly, the rising need for competitive differentiation, increasing number of internet & smartphone users, vast technological advances, and the increased use of data by companies to know more about their customers, and offer integrated, end-to-end digital experience have also driven the adoption of the data analytics solution of mobile apps and web analytics platforms.