Product Analytics Market Worth $25.3 Billion By 2026, Growing At A Cagr Of 21.3%: Report By Marketsandmarkets™

The global Product Analytics Market size is expected to grow from USD 9.6 billion in 2021 to USD 25.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 21.3%. Factors such as the need to improve customer behaviour management to deliver personalized product recommendations, increasing demand for advanced analytics tools to ensure market competitiveness, and growing adoption of big data and other related technologies are expected to drive the adoption of product analytics solutions and services. The product analytics platform is user-driven and a part of the Business Intelligence (BI) architecture, which enables organizations to optimize their supply-side spend, procurement, sales, and consumer engagement. It also assists users in making more informed and actionable decisions to prevent spend leakages, enhance their suppliers’ procurement analytics, and enhance customer experience.