The market seeks opportunities from the rising demand for cloud-based solutions and the increasing need for predictive analytics solutions among the organizations. Several industries have been using web analytics to strengthen their position in the market. In this regard, the market for web analytics is projected to grow significantly. Besides, marketing mechanization is also likely to help in market expansion. However, the scarcity of expertise in the industry is likely to impede the market.
As per the research by Market Research Future Reports (MRFR), the global web analytics market is estimated to value USD 9.11 billion, thriving at a CAGR of 19.96% during the forecast period from 2019 to 2025. The increasing demand is the primary factor driving the global web analytics market 2020. There has been an inclination towards data-driven business operations to have the benefit of competitive advantage in the market has additionally propelled the market.
Moreover, the stringent regulations implemented by the government are another factor that will disrupt the growth of the market. Also, data privacy is also likely to hamper market expansion. On the flip side, usage of these solutions will help the organizations to increase their revenue through efficient business strategies. Moreover, the outbreak of COVID-19 is likely to augment the web analytics market. We will provide COVID-19 impact analysis with the report.
Also Read: http://www.marketwatch.com/story/web-analytics-market-to-value-usd-911-billion-by-2025-web-analytics-market-size-share-growth-forecast-competitive-landscape-and-business-opportunities-2020-07-10
The forefront players of the global web analytics market are AT Internet (France), Adobe Systems, Inc. (the US), Google (US), Microsoft Corporation (US), IBM Corporation (US), MicroStrategy Incorporated (US), Splunk, Inc. (the US), SAS Institute, Inc. (the US), Tableau Software (US), Yahoo, Inc. (the US), Hotjar Ltd (Malta), comScore, Inc. (the US), Mixpanel (US), SimilarWeb Ltd (US), and Netbiscuits (Germany).
The geographical analysis of North America, Europe, Asia-Pacific, and the Rest of the World (Row) has been conducted. As per the analysis, the North American region dominates the market. North America acquires a significant market share due to the presence of established key players in the region. The established players are spending immensely in research and development to present advanced web analytics solutions. Besides, the region is technically advanced and adopt the latest technologies quickly.
Moreover, the surging demand for smartphones in the region has additionally propelled the market in the region. On the other hand, the APAC region is likely to expand at the fastest speed during the forecast period. The increasing demand for cloud-based technologies is a significant factor in driving the market in the region. Besides, the region is experiencing a high interaction in online shopping, which is further propelling the market.
The global web analytics market size can be segregated on the basis of deployment, vertical, application, component, and region.
On the basis of deployment, the global web analytics market can be classified into on-cloud and on-premise.
On the basis of vertical, the global web analytics market can be classified into BFSI, IT & telecommunication, media & entertainment, government, retail & e-commerce, travel & hospitality, and others.
On the basis of application, the global web analytics market can be classified into targeting & behavioral, social media management, analysis, multichannel campaign analysis, display advertising optimization, and others.
On the basis of components, the global web analytics market can be classified into solution and service. The solution segment has been further classified into behavior-based targeting, marketing automation, heat map analytics, search engine tracking & ranking, and others. The service segment can be further classified into managed service and professional service.
On the basis of region, the global web analytics market can be classified into North America, Europe, Asia-Pacific, and the Rest of the World (Row).