Web Analytics Market Reach USD 10.73 Billion by 2026, Key Factors behind Market's Growth

Allied Market Research published a new report, titled, " The Web Analytics Market Reach USD 10.73 Billion by 2026, Key Factors behind Market's Growth." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Increase in shift to data driven businesses, surge in marketing automation, and rise in demand of mobile analytics fuel the growth of the global web analytics market. Nevertheless, predictive web analytics and rise in cloud adoption are expected to create lucrative opportunities for the key players in the industry.

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The web analytics market size was valued at USD 2.63 billion in 2018, and is projected to reach USD 10.73 billion by 2026, growing at a CAGR of 19.3% from 2019 to 2026.

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.

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By application, the targeting and behavioral analysis segment is expected to anticipate high revenue growth during the forecast period in the overall web analytics market. Advent of internet technologies and evolution of web technologies have enhanced the way digital businesses operate. Demand for customer and behavioral analytics has grown from the recent past to gain comprehensive understanding of consumer demand, which in turn is expected to drive the growth of the segment in the global web analytics market.

Based on deployment, the on-premise segment contributed to more than three-fifths of the global web analytics market share in 2018, and is expected to rule the roost by the end of 2026. As the businesses opt for on-premise web analytics solutions to garner full data ownership and provide respect for user privacy, which drives the growth of the segment. Simultaneously, the cloud segment would cite the fastest CAGR of 22.8% from 2019 to 2026. The web analytics is hosted on cloud deployments which generate real-time data, which offers the segment to grow.

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Based on geography, the market across North America accounted for around one-third of the global web analytics market revenue in 2018, and is projected to dominate throughout the study period. North America has well-developed IT infrastructure which has led to early adoption of automation processes in this region. On the other hand, the Asia-Pacific region would register the fastest CAGR of 21.5% from 2009 to 2026. This is due to the increase in need to collect debt among regional governments.

Web analytics market analysis profiled in the report include Adobe Systems Incorporated, AT Internet, Facebook Inc., Google LLC, Hotjar Ltd, IBM Corporation, Microsoft Corporation, SAS Institute Inc., Splunk Inc., and Webtrends Inc.

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Key Findings of the Study:
● By deployment, the cloud segment dominated the web analytics market share in 2018. However, the on-premise segment is expected to exhibit significant growth during the forecast period.
● By application, the online marketing segment accounted for the highest revenue in 2018, owing to rise in demand for optimized clicks from e-commerce sector.
● Depending on end user, the retail & ecommerce industry generated the highest revenue in 2018. However, the retail sector is expected to witness a considerable growth in the near future, owing to rise in e-commerce activities across the globe.
● Region wise, Asia-Pacific is expected to witness significant growth in terms of CAGR in the coming years.

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