Mixpanel: They have been around the longest and are doubling down on user experience to appeal to a wider user-base, including less-technical folks with little to no experience with data analysis. (Disclosure: I’m an advisor here but not biased at all).
Amplitude: They are becoming the go-to choice for larger companies that have more sophisticated product analytics use cases. They tout data quality as their core strength and offer a ton of powerful features to drill down into product data. Their UX is more appealing to technical users or those with experience using other data analytics products.
Heap: Heap differentiates itself by offering an auto-capture feature (implicit tracking) that saves a lot of time and effort that’s spent instrumenting events manually. They do so by focusing on client-side events while also offering SDKs to gather server-side events. They are more focused on teams that are looking to get started quickly or those that don’t have the resources to invest in explicit tracking. And now they are also expanding to activation use cases with Heap Act.
Indicative: Not so popular but they offer a pretty good product with a very generous free tier (1 Billion Events). That said, they are trying to differentiate by referring to themselves as a Customer Analytics product with a stronger focus on companies that are more data-savvy and have dedicated data warehouses in place. They offer more robust integrations with Snowplow Analytics and Data Warehouses.
Pendo: They offer an all-in-one solution for product teams to go beyond analytics and deliver in-app experiences. As a product analytics tool, they are lagging behind the above-mentioned players.