Market Highlights
Web analytics is an analysis and measurement of web data, which provide data about the number of pages viewed and several visitors to a website. Benefits of web analytics are noted to be a track bounce rate, visitors count, identify exit pages: identify the target market, measure web traffic, and more. The web analytics are applicable in various verticals such as BFSI, retail & consumer goods, travel & hospitality, government, healthcare & life sciences, media & entertainment, telecommunication & IT and others. Since years, there have been various technological advancements by top players that are driving the growth of the market. In the case of point, in 2012, as per Moz, Inc. Google analytics used metrics to watch the launch of an e-commerce website for the first six to track different metrics. Furthermore, in 2012, Woopra for web analytics and customer engagement traced 200,000 websites, 15 billion actions per months and over half a million visitor per minutes.
Market Research Future reveals that the global web analytics market would shift 19.96% of its growth rate and would gain for about USD 9.11 Billion by 2025 from USD 2.59 Billion valuations gained in 2018. The rise of the market is expected because of soaring factors following the demand-sapping Coronavirus pandemic. This suggests that the stocks of the market will rise, post-course of COVID 19 disease epidemic resulting in losses incurred in the last three months. The growth of the market is suspected to be from 2019 to 2025—forecasted period.
The worldwide web analytics market is envisioned to achieve momentum from the continuous rise in marketing automation and online shopping. Escalating awareness about the effective utilization of vast chunks of unorganized data and improving the performance of web analytics solutions could create commanding opportunities in the market in the future timeframe. The introduction of connected services such as mobile analytics and the benefit of carefully understanding user demographics with the use of web analytics is foretelling to set the tone for consistent growth for market players in the coming time—free from COVID 19 pandemic.
Region-Wise Outlook
On the basis of the market dimension, North America is envisaged to become a leading position in the web analytics market. The growth in adoption of web analytics in small and medium-sized businesses (SMBs) could up the augmentation of the market in North America.
On the other hand, developing countries in the Asia Pacific (APAC) could aid the region to exhibit an elevated CAGR growth in the predictable future. Other promising regions, such as the Middle East and Africa (MEA) could display a dip in their growth compared to that of APAC.
Top Industry Players
The global web analytics market is probable to feel the presence of top-level players such as AT Internet (France), Adobe Systems, Inc. (US), IBM Corporation (US), Google (US), MicroStrategy Incorporated (US), Microsoft Corporation (US), Splunk, Inc. (US), SAS Institute, Inc. (US), Hotjar Ltd (Malta), Tableau Software (US), comScore, Inc. (US), Yahoo, Inc. (US), Mixpanel (US), SimilarWeb Ltd (US), and Netbiscuits (Germany).
Segmentation:
As per the MRFR’s publication, the global web analytics market share could see segmentation according to categories, viz. component, deployment, application, and vertical.
By the segment of component, the market has been segmented into solution and service. The solution segment has been further included marketing automation, heat map analytics, behaviour-based targeting, search engine tracking & ranking, and others. The service segment has included professional service and managed service.
By the segment of deployment, the market has included on-premise and on-cloud.
By the segment of the application, the market has included targeting & behavioural analysis, social media management, multichannel campaign analysis, display advertising optimization, and others.
By the segment of vertical, the market has included BFSI, IT & telecommunication, retail & e-commerce, media & entertainment, travel & hospitality, government, and others.
