Web analytics is the process of tracking the web traffic, analysing and reporting web data to understand and optimize web usage. Moreover, it can be used as a tool for business and market research to examine and improve the effectiveness of a website. A web analytics solution help in understanding the web data to acquire new visitors, visitor behavioural analysis, path analysis and the pages that are visited most. Using web analytics, a business can understand their customer demographics and track other metrics like click-through rate, conversion rate and bounce rate. Furthermore, it’s easy to use, less expensive (often free) to implement and it can obtain a complete picture of customers, enabling to serve them in better and more targeted ways. The Global Web Analytics Market size held USD 3.7 billion in 2020 and is expected to reach USD 21.2 billion by 2030 with a CAGR of 19% during forecast period.
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Geographic Analysis:
North America is leading the global web analytics market. The higher usage of smartphones and other smart devices in this region is going to expand the demand for web analytics, as there has been a drastic increase in website traffic across this region. Moreover, Asia-Pacific accounted the considerable share in the market and is expected to grow rapidly owing to increasing number of analytics outsourcing activities in the years to come. Increased implementation of the solutions & awareness amongst the businesses to utilize the huge chunks of unstructured online data are likely to boost growth of the market in the Europe.
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