Web Analytics Market is valued at approximately USD 3.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 19.3% over the forecast period 2020-2027. Web analytics is extensively utilized to pursue and scrutinize the users collaboration patterns with the website as they connect and stream information or data. This process includes the collection, assessment, and coverage of web data created from these interfaces that deliver perceptions on the demand and interest of customers.
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Further, web analytics also help to improve marketing strategies through the data collected from mobile web data to interpret the customers geographic distribution. This will help the marketers to enhance their marketing strategies accordingly the demographics basis. The aforementioned factors are expected to drive the growth of the web analytics market in the forthcoming years. Moreover, in the recent outbreak of the COVID-19 crisis, several business organizations, particularly in highly affected countries are allowing their employees to work from home to ensure business continuity. With the growing number of employees working from home resulting in rise in demand for online video watching, downloading, and interaction through video conferencing, all of which are leading to increased network traffic and data usage, which ultimately enhance the utilization of web analytics. Therefore, this factor is further influencing the growth of the web analytics market in the forthcoming years. Furthermore, the increase in the number of social media users in the developed and developing economies, along with the rise in trend of online shopping are the few factors responsible for the CAGR of the market during the forecast period. For instance, according to the Global Digital Report 2019, the total number of social media users was estimated at 3.484 billion in 2019 across the globe, demonstrating an increase of 9% year-on-year (YoY). This, in turn, is expected to strengthen the market growth all over the world. However, data privacy and security concern are one of the major factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Web Analytics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to the constant growth in online shopping and marketing automation, coupled with the rising preference toward online data-driven businesses in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing penetration of the internet with a rise in the number of social users and surging demand for mobile analytics would create lucrative growth prospects for the Web Analytics market across the Asia-Pacific region.
Major market player included in this report are:
Adobe Systems Inc.
AT Internet
Facebook Inc.
Google LLC
Hotjar Ltd
IBM Corporation
Microsoft Corporation
SAS Institute Inc.
Splunk Inc.
Webtrends Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Deployment:
On-Premises
Cloud
By Application:
Social Media Management
Targeting and Behavioural Analysis
Display Advertising Optimization
Multichannel Campaign Analysis
Online Marketing
Others
By End-User:
Banking, Financial Services, & Insurance (BFSI)
Retail
Healthcare
Travel & Hospitality
IT & Telecommunications
Media & Entertainment
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Market research objective you provided focuses on conducting a comprehensive analysis of a specific market. Here is a breakdown of the research objectives you mentioned:
To analyze and forecast the market size of the market:
- This objective involves assessing the current market size and using historical data and market trends to forecast its future size.
- This analysis helps in understanding the market’s growth potential and opportunities.
To classify and forecast the global market based on product, material, application, and region:
- This objective aims to categorize the market based on different factors such as product types, materials used, applications, and geographical regions.
- It also involves forecasting the market size and growth for each category, providing a detailed understanding of market segmentation.
To identify drivers and challenges for the global market:
- This objective focuses on identifying the factors that drive market growth and those that pose challenges or constraints.
- Understanding the drivers helps in recognizing opportunities, while understanding the challenges allows for mitigation strategies and informed decision-making.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations, and partnerships in the market:
- This objective involves analyzing the competitive landscape of the market. It includes studying activities such as mergers and acquisitions, agreements, collaborations, and partnerships among market players.
- This analysis provides insights into the market’s competitive dynamics and strategic moves by key players.
To conduct pricing analysis for the market:
- This objective aims to analyze pricing strategies within the market. It involves assessing pricing trends, price variations based on different factors, and understanding price sensitivity among customers.
- This analysis helps in formulating effective pricing strategies for market players.
To identify and analyze the profile of leading players operating in the market:
- This objective involves profiling and analyzing the key players in the market. It includes studying their business strategies, financial performance, product portfolios, market share, and competitive advantages.
- This analysis helps in understanding the competitive landscape and benchmarking against industry leaders.
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