| Report Code: A05971 | Pages: 292 | Feb 2020 | 9718 Views | ||
| Author(s) : Sneha K | Tables: 123 | Charts: 80 |
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Pandemic disrupted the entire world and affected many industries.
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Request Now !The web analytics market size was valued at $2.63 billion in 2018, and is projected to reach $10.73 billion by 2026, growing at a CAGR of 19.3% from 2019 to 2026. Business that operate online has increased from the recent past, owing to advent of digitalization. Since then the need to track and monitor one’s business website’s performance is a major factor that drive the growth of the market.
Web analytics is widely used to track and monitor the user’s interaction patterns with website as they click and stream data or information. This process involves collection, analysis, and reporting of web data generated from these interactions that provide insights on the customer’s demand and interest. In addition, web analytics help improve marketing strategies through the data garnered from mobile web data to understand the geographic distribution of consumers. This helps marketers improve and enhance their marketing strategies accordingly the demographics basis. Aforementioned are some of the factors expected to drive web analytics market growth in the coming years.
There are two types of web analytics off-site and on-site. Proliferation of Internet is driving the adoption of off-site web analytics as it refers to analysis and web measurement of the Internet as a whole. Whereas, on-site web analytics is widely preferred among enterprises with huge volume of web data as it analyzes user’s behavior on its website, including its revenue drivers and customer conversion pointers; thereby, helping business measure the website’s performance in a commercial context. These factors are expected to boost the growth of the global web analytics market in the coming years.
The web analytics market analysis in North America has gained high momentum due to increase in amount of web traffic that automatically flows through servers in the U.S. and America’s excessively high number of IP addresses. Moreover, increase in number of consumers and internet users in Asia-Pacific countries coupled with high penetration of smartphones in the regions are some of the major factors that are expected to drive the growth of the market in the region.
The report focuses on the growth prospects, restraints, and market analysis. The study provides Porter’s five forces analysis of the web analytics industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the web analytics market.
Segment Review
The web analytics market is segmented on the basis of deployment, application, end user, and region. By deployment, it is bifurcated into on-premise and cloud. On the basis of application, it is divided into social media management, targeting and behavioral analysis, display advertising optimization, multichannel campaign analysis, online marketing, and others. Depending on end user, it is categorized into banking, financial services, & insurance (BFSI); retail; healthcare; government; travel & hospitality; IT & telecommunications; media & entertainment; and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global web analytics market forecast include Adobe Systems Incorporated, AT Internet, Facebook Inc., Google LLC, Hotjar Ltd, IBM Corporation, Microsoft Corporation, SAS Institute Inc., Splunk Inc., and Webtrends Inc.
Top Impacting Factors
Commercially, mobile analytics refers to the usage of mobile data that is collected from users’ interactions and access to a website from a smartphone. Thus, increase in demand for mobile analytics is expected to drive the growth of the global web analytics market in the coming years. Furthermore, businesses are inclining toward data-driven operations that help them take decision on the basis of data-driven facts. This is also expected to boost the growth of the market, owing to its ability to provide web data insights to its user. Proliferation of automation technologies into marketing is further expected to support the growth of the market. However, dearth of technical analytical personnel coupled with concerns associated with data privacy are key factors that are anticipated to hinder the market growth. Furthermore, predictive web analytics is expected to improve marketing camping’s with the help of machine learning models, which is expected to provide lucrative opportunities for the web analytics market growth.
Rise in Adoption of Automation Technologies in Marketing
Social web tools, such as TweetDeck and Hootsuite, were launched by innovative entrepreneurs to help businesses handle the complex and large volume of data through dashboards. This provided an immense scope for automation in marketing, which in turn is expected to drive the growth of the market in the coming years. Marketing automation solutions track users' online buying patterns and browsing behavior anonymously, and focuses on workflows of digital operations to strengthen communication between marketing and sales. This in turn is expected to boost the growth of the web analytics market during the forecast period.
Increase in Demand for Mobile Analytics
Mobile web analytics is a growing trend and is expected to witness high adoption in the coming years. This is attributed to rise in penetration of mobile devices that generate tremendous amount of data related to web and demographics It also helps determine important aspects of the website that drive mobile traffic and mobile marketing campaigns for the business. These marketing campaigns include mobile advertising, text campaigns, mobile search marketing, and desktop promotion of mobile sites and services. Therefore, increase in the demand for mobile analytics is expected to drive the market growth.
Covid-19 Impact on the Web Analytics Market -
Web Analytics Market Report Highlights
| Aspects | Details |
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| By Deployment |
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| By Application |
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| By End User |
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| By Region |
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| Key Market Players | Adobe Inc., AT Internet, Facebook, Inc., Google Inc., Hotjar LTD, International Business Machines Corporation, Microsoft Corporation, SAS Institute Inc., Splunk Inc., Webtrends Inc. |
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According to major key executives, small businesses are going to thrive on web analytics to gain new revenue generation opportunities. With fast pacing digital businesses, decision-making machines for websites are expected to garner the majority of market share in the coming years. Variance in consumer demands coupled with proliferation of digital consumer data help businesses accumulate and understand large consumer base for its marketing strategies, which has gained high momentum from the recent past.
Connectivity of data across various platforms and digital transformation strategies have pioneered the demand for web analytics among industries to boost their ROI. With advent of web analytics, analytics in e-commerce segment has prospered in terms of customer engagement strategies as it displays different metrics portraying variance in engagement patterns. This in turn has impede the adoption of web analytics across the globe.
Prominence of web analytics with emergence of Internet has increased the demand for analytics. This is attributed to its visualization tools that present results in dashboards. These dashboards are highly preferred among the senior executives as they display actual value or growth without the need to be calculative or without the need to process any complex processes. As well as analytics dashboards can be customized by various parameters such as date range, user persona, and other attributes.
The global web analytics market in Asia-Pacific and North America regions has anticipated high growth and is expected to continue this trend during the forecast period. The market in North America has attributed high revenue growth in 2018, whereas the market in Asia-Pacific is expected to garner highest CAGR in the coming years.
The key players operating in the global web analytics market include Adobe Systems Incorporated, AT Internet, Facebook Inc., Google LLC, Hotjar Ltd, IBM Corporation, Microsoft Corporation, SAS Institute Inc., Splunk Inc., and Webtrends Inc. The key players operating in the market have adopted numerous business and revenue growth strategies to enhance and develop their product portfolio, strengthen their web analytics market share, and help them increase their market penetration.
A. The web analytics market is expected to grow at CAGR of 19.30% from 2019 to 2026.
A. Increase in the demand of mobile analytics, Increase in shift to data driven businesses, and Growing marketing automation are factors that drive market.
A. To get updated version of Web analytics market report
A. The web analytics market is estimated to reach $10.73 billion by 2026
A. Social Media Management, Targeting and Behavioral Analysis, Display Advertising Optimization, Multichannel Campaign Analysis, Online Marketing, and Others are applications of the web analytics industry.
A. Among the deployment segment, On-premise is expected to drive market growth in the coming years.
A. On the basis of top growing big corporation we select top 10 players.
A. Asia Pacifc region possess greater business opportunities in the coming future
A. The web analytics market in 2018 was $2,632.4 million
A. Adobe Systems Incorporated, AT Internet , Facebook Inc., Google LLC, Hotjar Ltd, IBM Corporation, Microsoft Corporation, SAS Institute Inc., Splunk Inc., and Webtrends Inc. are among some of the key players operating in the global market.
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