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Editing: 8; Published: February 2022
Executive Pool: 72800
Companies: 546 – Drives covered include Adobe, Inc.; Applied Technologies Internet SAS; Facebook, Inc.; Google LLC; Hootsuite, Inc.; IBM Corporation; Microsoft Corporation; MicroStrategy, Inc.; SAS Institute, Inc.; SimilarWeb Ltd. ; Splunk, Inc.; Teradata Company; Webtrends, Inc. and others.
Blanket: All major geographies and key segments
segments: Size of the organization (large companies, SMEs); Deployment (on-premises, cloud); Vertical (Retail, Manufacturing, BFSI, IT & Telecom, Logistics & Transportation, Healthcare, Other Verticals)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia Pacific; Rest of the world.
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Global web analytics market to reach $6.5 billion by 2025
Web analytics, also known as digital analytics, refers to the collection, measurement, and analysis of web data. The web analytics strategy is designed to maximize the efficiency of online and e-commerce activities. The growing need to align the organization’s core work processes with business goals is driving the demand for web analytics solutions. With the exponential growth observed in the volumes of data generated by various business processes, there is a growing need for effective measurement and analysis of unorganized data to improve business efficiency. Amid COVID-19 Crisis, Global Web Analytics Market Estimated at US$4.2 billion in 2022, is expected to reach a revised size of US$6.5 billion by 2025, registering a compound annual growth rate (CAGR) of 15.7% over the analysis period. United States represents the largest regional market for Web Analytics, accounting for an estimated 32.9% share of the global total. The market should reach US$2.2 billion at the end of the analysis period. Asia Pacific is expected to become the fastest growing regional market with a CAGR of 17.6% over the analysis period.
The market has largely benefited from the advent of advanced web analytics solutions with enhanced performance capabilities made possible by the rapid pace of technological advancement seen in the space. The rise in the number of data-driven online businesses, increased adoption of multi-channel marketing initiatives, and the shift to cloud-based platforms are driving the demand for web analytics solutions. The need to intensify marketing activities in a highly competitive environment is fueling the demand for web analytics solutions. Another notable market trend is the growing importance of mobile analytics solutions. With the growing penetration of smartphones, the website traffic through various mobile devices is growing strongly. Therefore, companies use mobile analytics solutions to analyze mobile traffic, in order to come up with an effective strategy to target these users. The market is also influenced by the increasing integration of artificial intelligence (AI) in web analytics, which has the potential to offer more efficiently processed information from web portals. However, strict government regulations and the need to comply with data privacy rules are hampering the market growth. Data privacy is becoming a major concern for the market.
In North America, the emergence of data-driven online businesses, the rapid rise of the e-commerce market, and the trend towards marketing automation are all driving the demand for web analytics solutions. As the region is at the forefront of the digital revolution, there is a strong demand for advanced web analytics solutions. The high penetration of smartphones and other mobile devices in North America and the significant increase in website traffic from these mobile devices also reinforce the importance of mobile data analytics, thus increasing the demand for web analytics solutions. Furthermore, the growing use of social media platforms is also leading to the growing use of web analytics solutions to analyze website traffic on these platforms. Asia Pacific is experiencing a high adoption of web analytics solutions due to the growing awareness among businesses of the need to analyze the huge volume of unstructured data generated by their websites. Continued
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