Web Analytics Market Scope
According to the Web Analytics Association, Web Analytics is defined as the measurement, collection, analysis, and reporting of Internet data for the purposes of understanding and optimizing web usage. Web analytics is a process is used to analyze the performance of a website and optimize its web usage. It enables a business to attract more visitors, retain or attract new customers for goods or services, or to increase customer spends on their products/services. It encourages a data-driven environment for decision making and provides insights with the data. The growing demand for web analytics for better business decisions is expected to create new opportunities for the web analytics market in the upcoming years.
According to AMA, the Global Web Analytics market is expected to see growth rate of 19.8%
The global web analytics market is highly competitive and consists of a limited number of vendors who compete with each other. According to AMA research, the intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for the growth of web analytics. To gain a competitive edge in the market, the providers need to develop innovative technologies and stay updated with the emerging technologies that could influence their product lines.
Google LLC (United States), Adobe Inc. (United States), AT Internet (France), International Business Machines Corporation (United States), Microstrategy Incorporated (United States), SAS Institute (United States), Splunk Inc. (United States), Tableau Software (United States), Teradata Corporation (United States), Webtrends (United States), Clicktale (Isreal), Woopra (United States), Mixpanel (United Kingdom), Upsight, Inc. (United States) and Netbiscuits GmbH (Germany) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Web Analytics market by Type (Audience Analysis, Acquisition Analysis, Behavior Analysis and Conversion Analysis), by Application (Social Media Management, Targeting And Behavioral Analysis, Display Advertising Optimization, Multichannel Campaign Analysis, Performance Monitoring, Online Marketing, E-Mail Marketing and Others) and Region with country level break-up.
On the basis of geography, the market of Web Analytics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In June 2019, Google entered into a definitive agreement to acquire Looker, a unified platform for business intelligence, data applications, and embedded analytics. Upon the close of the acquisition, Looker will join Google Cloud.
In November 2019, Tableau Software expanded its strategic relationship with Amazon Web Services, Inc. (AWS), for Modern Cloud Analytics (MCA), a new initiative designed to help customers unlock the power and flexibility of self-service analytics in the cloud.
Market Trend
- Trends for Online Shopping
Market Drivers
- Growing Adoption of Digital Technology in Businesses
- Emergence of Social Media Analytics
- Demand for Site Overlay and Geo-mapping in Web Analytics
Opportunities
- Multi-Channel Marketing
- Increasing Cloud Adoption
- Website Performance for Decision Making
Restraints
- Data Privacy Compliance
- Impact of Different Internet Technologies
Challenges
- Availability of Open Source Vendors
Analyst View
The increasingly complex nature of the marketing technology and growing penetration of the cloud has increased the market demand for web analytics. The web analytics is being referred as “future of analytics” as it helps the business to know online behavior of their audience. The increasing demand for web analytics from BFSI, IT & telecom, and e-commerce retailers has boosted the market growth.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Web Analytics Manufacturer, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Users