Global Web Analytics Market to Witness Huge Demand | Key Companies are Adobe Systems, Inc. (US), AT Internet (France), Google (US), IBM Corporation (US), Microsoft Corporation (US), MicroStrategy Incorporated (US) and SAS Institute, Inc. (US)

Web Analytics Market Research Report- Forecast till 2025

Market Highlights

The global web analytics market is growing continuously over recent years. The market growth is attributed to the rising adoption of web analytics across the industries. Besides, the growing demand for cloud-based solutions and services, alongside the growing awareness among enterprises to analyze and assess the high volumes of unstructured website data, boosts the market growth. Moreover, the rise in online shopping preferences escalates market demand.

According to Market Research Future (MRFR), the global web analytics market is poised to reach over USD 9.11 BN by 2025, growing at 19.96% CAGR throughout the forecast period (2019-2025). Ecommerce companies need web analytics solutions to analyze and track consumer purchasing trends and interest areas while assessing the website performance and extracting actionable business insights for making decisions. The market witnesses the increasing demand for cloud-based solutions.

Additionally, the growing need for predictive analytics solutions among enterprises substantiates the size of the market. The shift toward data-driven business operations to gain a larger competitive advantage in the market and an increase in the online shopping preference increase the market demand. Various advantages offered by web analytics, such as predictions based on experiences and capabilities to identify the buying patterns, accelerate market growth.

Conversely, advanced technologies based on analytical techniques such as machine learning, which require a particular set of skills, is a major factor estimated to hamper the market growth, presenting challenges of lack of domain-specific expertise. Nevertheless, the proliferation of heat map analytics, marketing automation would support market growth throughout the review period.

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Segmentation:

The report is segmented into five dynamics;

By Component: Solution (Marketing Automation, Heat Map Analytics, Search Engine Tracking & Ranking, Behavior-Based Targeting, others) and Services (Professional Service, Managed Service, others).

By Deployment: On-Premise and On-Cloud.

By Application: Targeting & Behavioral Analysis, Social Media Management, Display Advertising Optimization, Multichannel Campaign Analysis, and others.

By Vertical: BFSI, IT & Telecommunication, Media & Entertainment, Retail & e-commerce, Government, Travel & Hospitality, and others.

By Regions : Europe, Americas, Asia Pacific, and the Rest-of-the-World.

Web Analytics Market – Regional Analysis

North America leads the global web analytics market. The largest market share is attributed to the presence of several notable solution providers and considerable technological advances in the region. Besides, substantial investments and the growing demand for advanced web analytics solutions increase the web analytics market size. Growing demands for website analytics solutions for analyzing and managing the geographical distribution of website traffic foster regional market growth. Moreover, organizations across the region are focused on enhancing digital platforms to improve the consumers' experience by boosting their website operation performance, which drive the market growth. Also, the increase in smartphone usages in the region creates substantial market demand.

Europe stands second in the global web analytics market. The market is mainly driven by the presence of several industry players and large deployments of web analytics solutions. Additionally, the rising uptake of web analytics solutions in growing numbers of medium and large enterprises in the region is a key tailwind for the market growth. Furthermore, the high adoption of web analytics solutions across the industrial sector pushes the regional market's growth.

The Asia Pacific region is emerging as a strong market for web analytics. The regional market is growing considerably over the past consecutive years. Besides, the increasing demand for a high volume of data storage and cloud computing increases the web analytics market size. India, China, Japan, and South Korea, are the major web analytics markets, driving the regional market growth.

However, The Indian web analytics market is growing rapidly due to substantial foreign investments in setting up IT infrastructure. The APAC web analytics market is anticipated to be the fastest-growing region during the projected period.

Global Web Analytics Market – Competitive Analysis

Highly competitive, the web analytics market appears fragmented, with several well-established players forming a competitive landscape. Mergers & acquisitions, innovation, and expansion remain prevailing key trends among leading players to drive their growth and expansion plans. They strive to deliver reliable and leading-edge technologies. For which they make substantial R&D investments in developing adept technologies. They also strive to launch new products and services in emerging economies to take advantage of their development.

Major Players:

Players leading the global web analytics market include AT Internet (France), Adobe Systems, Inc. (US), Google (US), Microsoft Corporation (US), IBM Corporation (US), MicroStrategy Incorporated (US), Splunk, Inc. (US), SAS Institute, Inc. (US), Tableau Software (US), Yahoo, Inc. (US), Hotjar Ltd (Malta), comScore, Inc. (US), Mixpanel (US), SimilarWeb Ltd (US), and Netbiscuits (Germany), among others.

Industry/ Innovation/ Related News

October 28, 2020 ----- SimilarWeb (Israel), leading web analytics and digital market intelligence company, announced raising a fresh round of funding of €102.1M (approx $120M) to drive aggressive growth plans & business expansion via M&A. Despite the business impact from COVID-19, the global digital intelligence platform market is expected to have positive and superior growth. The round of funding is co-led by ION Crossover Partners and Viola Growth. The deal includes both primary and secondary components and brings its total funding to USD 240M.

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Web Analytics Market Research Report: By Component (Solution {Heat Map Analytics, Marketing Automation, Search Engine Tracking & Ranking, Behavior-Based Targeting and others} and Service {Professional Service, Managed Service}), By Deployment (On-Premise and On-Cloud), By Application (Social Media Management, Targeting & Behavioral Analysis, Display Advertising Optimization, Multichannel Campaign Analysis, others), By Vertical (IT & Telecommunication, BFSI, Media & Entertainment, Retail & e-commerce, Government, Travel & Hospitality and others), By Region (North America, Europe, Asia-Pacific and the Rest of the World {Middle East & Africa and South America}) - Forecast till 2025

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