Global Web Analytics Tools Market Overview
The key drivers impacting the web analytics market is the increasing usage of smartphones and other mobile devices that lead to a drastic rise in website traffic across the world. According to the Pew Research center 2019 report estimations, there were over 5 billion people who own mobile devices, and in which half of these connections are smart-phones. Moreover, the improvement of marketing activities to remain at par with the competitors in the current competitive environment is anticipated to increase the web analytics tools market demand under the forecast period.
According to Value Market Research, the global web analytics tools market was valued at around USD 3 billion in 2019 and is estimated to grow at a CAGR of about 20% during the forecast period of 2020 to 2026.
The high adoption of the cloud and the growing requirement of multichannel marketing is also estimated to be a key trend adding growth to the market. for instance, according to the BSA global cloud computing scorecard report, it is anticipated that globally there were more than half of enterprises adopted cloud computing in 2018. during the 2012 and 2015 time period, the demand for cloud computing recorded 70 percent and is estimated to stand for 60 percent of growth during 2020. however, the dearth of professionals in the industry and data privacy issues may hamper the global web analytics tools industry in the long run. also, the presence of open-source vendors and strict government regulations may restrict market growth. The current industry trends show the growing focus towards providing innovative and quality solutions such as search engine ranking and tracking by the key players, thus creating new market opportunities.
The web analytics tools market is vast, with a large number of local and international players. the key leaders follow several strategies to augment their market position, such as acquisitions, mergers, expansions, and advanced quality products at the best prices to enhance their market share across the world. for instance, google recently launched the fourth version of its analytics with a powerful new feature of machine learning (ML) at its foundation. it will offer new ways to track and monitor critical data trends and alert business owners and marketers to new opportunities. the report studies a few key players of the global web analytics tools market in detail, covering the company profile, product list, and financial information. The dominating key players included in the report are Yahoo Analytics, SaS institute, IBM, Omniture Inc, Webtrends Corp., Microsoft, and Google Analytics. Webmasters and technologists have always been the initial targets of web analytics companies and many others.
In this market research report, the market is segmented by deployment, application, end-user, and region.
Analysis By Deployment:
By deployment, the report is categorized into On-premise and Cloud. Clo ud dominates the deployment segment in 2019 with maximum market share. It is projected to maintain its dominancy in the forecast period because of rising cloud-based deployment trends. The aggressive adoption of cloud in enterprises is due to factors such as better experience, agility, efficiency, and business growth.
Analysis By Applications:
By application, the report is categorized into social media management, targeting and behavioral analysis, display advertising optimization, multichannel campaign analysis, online marketing, and others. Social media management, targeting, and behavioral analysis, and display advertising optimization segments are expected to experience the fastest growth over the forecast period. It is due to the steady rise in marketing automation and online shopping trends across the globe.
Analysis By End-User:
By end-user, the report is categorized into banking, financial services, & insurance (BFSI), retail, healthcare, government, travel & hospitality, IT & telecommunications; media & entertainment; and others. The retail segment is estimated to show a considerable growth rate over the study period due to the high demand for mobile analytics solutions, especially for operating in e-commerce operations. Apart from this, the rising efforts of the e-commerce companies to generate personalized shopping experiences are predictable to draw enormous revenues to the web analytics market globally.
Analysis By Region:
In the regional outlook of the Global Web analytics tools Market, North America dominates with over highest market share in 2019. North America is ready to play a key role in driving the market share over a predictable period. The mounting adoption of web analytics in small and medium-sized businesses (SMBs), together with the rise in the amount of web traffic, are the primary growth factors contributing at a regional level. The APAC market is estimated to record considerable growth during the forecast period due to the augmenting number of consumers and internet users and high adoption of smart-phones in the regions.
Market Segmentation covered in the Report:
- Social Media Management
- Targeting and Behavioral Analysis
- Display Advertising Optimization
- Multichannel Campaign Analysis
- Online Marketing
- Financial Services & Insurance (BFSI)
- Travel & Hospitality
- IT & Telecommunications
- Media & Entertainment
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
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