Market Overview
In 2018, the global Web Analytics Market size was projected to account for the market value of USD 2.59 Billion.
Further, the worldwide market is anticipated to hold USD 9.11 Billion by the end
of the year 2025 and is predicted to hold a CAGR of 19.96% between 2019 to
2025.
Web analytics is basically a specialized analytical application that is
designed to enhance customer acquisition, the online channel user experience
and optimize advertising campaigns and digital marketing.
The demand for Web Analytics Market is growing because of the
excellent features of the commercial web analytics productslikeconsumer
segmentation, analytical and performance management,andreporting that is widely
used by advertisement companies,content developers, website operations teams,
and marketing professionals to enhance their digital experience of the
customer.
Market Segmentation
The worldwide Web Analytics Market has been classified on the
basis of deployment, component, verticals, and applications.
Based on the deployment segment, the global market has been classified
into on-cloud and on-premise.On the basis of component segment, the current
market has been categorized into service and solution. Further, the service
segment has been sub-categorized into managed service and professional service.
Alternatively, the solution segment has been sub-categorized into search engine
tracking & ranking, heat map analytics,behavior-based targeting, marketing
automation, and others.
Depending on the vertical segment, the Web Analytics Market has
been classified into travel & hospitality, BFSI, IT &
telecommunication, media & entertainment, government,retail &
e-commerce, and others. In terms of the application segment, the global market
has been segregated into targeting & behavioral analysis, social media
management, multichannel campaign analysis, display advertising optimization,
and others.
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Regional Analysis
Based on geographical locations, the Web Analytics Market has
been categorized into Europe, Latin America, North America, South America,
Middle East Africa, Asia-Pacific, and the rest of the world.
Presently, the North American market has generated a significant market
share and is projected to lead the global market due to the increasing research
and developmental activities, rising investments, and the presence of prominent
market players in the region. Moreover, the North American region has various
organizations that have given a high focus on the growth of the digital
platform to boost the performance of the website operation and to enhance the
experience of the consumers. Also, this region always does early adoption of
technology, which is fueling the regional market growth. In addition, this
region has a high smartphone usage that requireswebsite analytics solutions for
managing and analyzing the website traffic on various geographical
locations.
Apart from these, the Asia Pacific market is considered the
fastest-growing regional market throughout the review period. The Asia Pacific
market growth is boosting due to the rising awareness among the large enterprises
and SMEs to analyze the unstructured and high volume data of websites.
Moreover, the rising demand for a cloud-based solution among all sizes of
enterprises is thriving the regional market growth.
Industry News
In August 2019, the marketing automation vendor PromoteIQ was acquired
by the prominent market leader Microsoft. This has proposed to work with
e-retailers and brand manufacturersto run brand-sponsored ads on various
retailer sites like Overstock.com, Kohls, and others.
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