Product Analytics Market Growing with 22.7% CAGR | Reach USD 76.7 Billion by 2031 Globally

WILMINGTON, DE, UNITED STATES, June 26, 2025 /EINPresswire.com/ -- Allied Market Research published a new report, titled, ” Product Analytics Market Growing with 22.7% CAGR | Reach USD 76.7 Billion by 2031 Globally.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global product analytics market share was valued at USD 10.2 billion in 2021, and is projected to reach USD 76.7 billion by 2031, growing at a CAGR of 22.7% from 2022 to 2031.

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Driving Factors : Product Analytics Market

Surge in demand for cloud-based product analytics solution across enterprises, cost effectiveness, and the functional capabilities that boost up the business performance of the organizations drive the growth of the global product analysis market. Region-wise the market in North America is likely to maintain its leadership in terms of revenue during the forecast period.

Market Segmentation : Product Analytics Market

The product analytics market is segmented on the basis of component, deployment mode, application, end-user, industry vertical, and region. By component, it is bifurcated into software and services. By deployment mode, it is divided into on-premise, and cloud. On the basis of application, it is categorized into design and manufacturing, sales and marketing and consumer engagement. By end user, the market is segregated into small & medium-sized enterprises and large enterprises. By industry vertical, the market is classified into IT and telecommunication, BFSI, manufacturing, consumer goods and retail, media and entertainment, healthcare, energy and utility and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Players : Product Analytics Market

Leading market players of the global product analytics market analyzed in the research include Medallia Inc., Oracle Corporation, Pendo.io Inc., Salesforce, Inc., IBM Corporation, Alphabet Inc., Adobe Inc., Amplitude, Inc., LatentView Analytics, Mixpanel.

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Based on region, North America held the largest share in 2021, contributing to more than one-third of the global product analytics market. However, the Asia-Pacific region is projected to maintain its dominant share in terms of revenue in 2031. The same region is expected to manifest the fastest CAGR of 28.3% during the forecast period.

Based on application, the consumer engagement segment held the highest share in 2021, accounting for more than half of the global product analytics market and would maintain its dominance in terms of revenue through 2031. On the other hand, the design and manufacturing segment is expected to register the highest CAGR of 34.1% from 2022 to 2031.

Based on end user, the large enterprises segment held the highest share in 2021, accounting for more than three-fifths of the global product analytics market and is expected to maintain its lead in terms of revenue during the forecast period. The small and medium-sized enterprises segment is expected to manifest the highest CAGR of 25.6% from 2022 to 2031.

Based on component, the software segment held the largest share in 2021, accounting for more than two-thirds of the global product analytics market and would maintain its dominance in terms of revenue through 2031. Moreover, the service segment is estimated to witness the fastest CAGR of 25.1% during the forecast period.

Based on deployment mode, the on-premise segment held the highest share in 2021, accounting for nearly three-fifths of the global product analytics market. However, the cloud segment is expected to rule the roost in terms of revenue during the forecast period. The same segment is expected to manifest the highest CAGR of 28.2% from 2022 to 2031.

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Covid-19 Scenario: Product Analytics Market

The COVID-19 outbreak had considerably boosted the growth of the product analytics market, due to accelerating demand for the cloud to support several crucial digital solutions such as e-commerce and remote work, as well as entertainment platforms such as online gaming and video streaming.

The pandemic led governments across regions to implement product analytics and advanced technology such as AI, ML and others for managing uncertainty in real time. This had helped the market to grow rapidly during the pandemic.

With the help of product analytics, enterprises are able to engage with customers through digital channels, manage complex and fragile supply chains and support employees through disruption to their lives and work. Such enhancement is anticipated to create numerous opportunities for market growth during the forecast period.

Key Industry Developments : Product Analytics Market

June 2023: Amplitude, a key player in product analytics, expanded its AI-powered tools to help companies better understand customer journeys. This development includes advanced machine learning capabilities to predict user behavior based on product interactions.

March 2023: Heap, a product analytics company, launched its new auto-capture tool to streamline how product teams gather customer insights without the need for manual tracking, making it easier to identify pain points in user experiences.

September 2023: Mixpanel collaborated with Google Cloud to integrate product analytics more effectively into cloud environments. This partnership aims to enable companies to leverage cloud-native data warehouses to run advanced analytics at scale.

April 2024: Gartner reported that global spending on product analytics is projected to grow by 15% year-on-year, driven by advancements in AI and real-time data processing capabilities. This surge is expected to impact regions like APAC and North America significantly.

February 2024: Pendo, a product analytics provider, unveiled its Product Cloud platform in Europe, enhancing customer onboarding, retention, and product experience analysis. The platform focuses on creating a unified view of user interactions to inform product strategies across industries.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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