Web Analytics Market Overview:
The web analytics market report is projected to grow from USD 4.67 Billion in 2022 to USD 16.72 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 19.72% during the forecast period (2022 - 2030).
Web analytics is a specialized analytics application. It is used to optimize and enhance online channel user experience, customer acquisition, and digital marketing and advertising campaigns. The demand for web analytics is increasing due to the pandemic as individuals and organizations are becoming more dependent on digital platforms and internet services for their needs due to the spread of viruses.
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Key Players:
Key Companies in the web analytics market include,
- Adobe Systems Inc (US)
- AT Internet (France)
- Google (US)
- IBM Corporation (US)
- Microsoft Corporation (US)
- MicroStrategy Incorporated (US)
- SAS Institute Inc (US)
Due to the global epidemic, people are becoming more inclined and reliant on digital platforms and internet services. As the virus spreads worldwide, people are working from home, which has increased the demand for online video watching, downloading, and communication through video conferencing. Thus, it increases network traffic and a series of opportunities for Global Web Analytics Market providers.
Market Segmentation:
The Global Web Analytics market is divided based on component, deployment, application, vertical, and region.
The market is divided based on component like solutions and services. The solutions section is further divided into Hit Map Analytics, Marketing Automation, Search Engine Tracking and Ranking, Behavior-Based Targeting, and others, while the Services section is further classified as Professional Services and Managed Services.
Based on deployment, the Global Web Analytics Market is divided into on-premise and on-cloud.
Based on application, the market is divided into social media management, targeting and behavioral analysis, display ad optimization, multichannel promotion analysis, and more.
Vertically, the Global Web Analytics Market is classified into IT and telecommunications, BFSI, media and entertainment, retail and e-commerce, government, travel and hospitality, and more.
Regional Classification:
Based on region the Global Web Analytics Market is divided into North America, Europe, Asia-Pacific, and the rest of the world. The market in the rest of the world is further classified as the Middle East and Africa and South America.
North America is the dominating region in the global Web Analytics Market and has a significant market share. This is due to the existence of most of the key players in the market who are investing heavily in research and development activities to develop advanced web analytics solutions.
Asia-Pacific is expected to be the fastest-growing regional Web Analytics market during the forecast period. The growing demand for cloud-based solutions and services, and the growing awareness among SMEs as well as large enterprises, are driving the market to analyze high volumes of unorganized website data.
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Industrial News:
Moving towards data-driven business activities to gain a competitive advantage in the market and increasing the demand for online shopping are the reasons for the growth of the Global Web Analytics Market.
With the growing demand for cloud-based solutions and the increasing need for predictive analytics solutions, seeks the market opportunities among enterprises. However, the Global Web Analytics Market growth is hindered due to privacy concerns and a lack of technical expertise.
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