Product Analytics Market Competitive Landscape, Insights by Geography, and Growth Opportunity

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2022
Product Analytics Market Overview, Emerging
Trends, Key Players and Future Scope
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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.
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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 islands 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.
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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, PS
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.
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• Market Segmentation by Security Type
• Physical Security
• Video surveillance
• Access control
• Intrusion and fire detection
• Physical security information management (PSIM)
• Others (asset protection, security scanning, and
  imaging metal detection)
• Information Security
• Antivirus
• Encryption
• Unified threat management
• Risk and compliance management
• Data loss prevention
• Identity and access management
• Others (firewall appliances and web filtering)

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• Market Segmentation by Service
• System Integration
• Risk Assessment
• Consulting
• Training
• Market Segmentation by End User
• Banks
• Insurance Companies
• Others (Asset Management Companies, Venture
  Capital Firms, Fintech Companies, and Other
  Financial Institutions)

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• Market Segmentation by Region
• North America BFSI Security Market
• By security type
• By service
• By end user
• By country U.S. and Canada
• Europe BFSI Security Market
• By security type
• By service
• By end user
• By country U.K., France, Germany, Russia,
  Switzerland, and Rest of Europe

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• Asia-Pacific (APAC) BFSI Security Market
• By security type
• By service
• By end user
• By country China, Japan, India, Australia,
  South Korea, Singapore, New Zealand, and Rest of
  APAC
• Latin America (LATAM) BFSI Security Market
• By security type
• By service
• By end user
• By country Brazil, Mexico, Argentina, and Rest
  of LATAM
• Middle East Africa (MEA) BFSI Security Market
• By security type
• By service
• By end user
• By country South Africa, Saudi Arabia, U.A.E.,
  and Rest of MEA

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This study covers 1. Historical and the present
size of the Product Analytics Market 2. Historical
and the present size of the market segments and
understand their comparative future
potential 3. Potential of on-demand logistics
services, so the market players make informed
decisions on the sales of their
offerings 4. Competitive scenario of various
market segments across key countries in several
regions for uncovering market opportunities for
the stakeholders 5. Major players operating in
the market and their service offerings
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