Transparency Market Research
Global Clickstream Analytics Market: Overview
Clickstream analytics has come to occupy a vital part of brand positioning and consumer targeting strategies. The use of vast volumes of data that are gathered from clickstream eventually give a glimpse on on-site behaviors of people browsing any website. Some of the key use cases of clickstream analytics are traffic analysis, website optimization, basket analysis and personalization, and customer analysis. Broadly the key types are traffic analytics and e-commerce analytics. Of the two, clickstream analytics has gathered massive steam in e-commerce industries. The approach is used in understanding the effectiveness of a website in relation to the aspect of channel-to-market. This is one of the key propositions bolstering the popularity of clickstream analytics in e-commerce. The proliferation of consumer data gathered through clickstream analytics has led businesses to use tools such as Hadoop and Big Data analytics. The application of such tools has allowed them to interpret the data and draw meaningful conclusion pertinent to their marketing strategies. The tools also allow them to generate reports for tailored market evaluation.
Over the past few years, predictive marketing has caught on momentum in various industries. This has been further fueled by the adoption of multichannel marketing. The growing use of multiple mobile touch points is also a crucial factor catalyzing the expansion of the clickstream analytics market. The rapid pace of digitization in industries in various developing countries across the world is opening new lucrative avenues in the clickstream analytics market. Increasing internet penetration in emerging economies is also bolstering the prospects.
Clickstream analytics is a procedure through which a user can visualize clickstream data for analytical or research purposes. A clickstream refers to the translation of user activity on a particular website wherein the user clicks on a computer display screen and the action gets transformed into a web activity. Clickstream analytics is a crucial part of e-commerce market research which can be used to track various other activities within an organization. Its rising adoption in e-commerce is predicted to fuel the demand for it over the forecast period on account of the unprecedented growth of consumer data coupled with the implementation of numerous mobile technology facilitating touch points. The transformation from conventional to digital techniques is likely to gain traction resulting in augmented demand for clickstream analytics over the forecast period. Exponential growth in the volume of data is expected to drive the clickstream analytics market over the next few years. Clickstream analytic solutions have been increasingly organized across various industry verticals such as telecommunication, financial sector, energy, transportation, and health care. Growth in digitalization technologies in the emerging economies of Asia Pacific is likely to be a driver of the clickstream analytics market. Emerging trends of Big Data technology and improvement of internet based facilities is likely to drive the growth of clickstream analytics market over the forecast period.
The market is segregated by service into the managed and professional categories. Professional services are further sub-segmented into the following divisions: support & maintenance, deployment & integration, and consulting. On the basis of type, the clickstream analytics market is divided into the software and services segments. Software accounted for a major market share in 2016 and is expected to retain its position over the forecast period. Based on usage, the clickstream analytics market is split into the following groups: website/application optimization, click path optimization, customer analysis, traffic analysis, basket analysis & optimization, and others. Basket analysis & optimization is anticipated to register major growth over the forecast period due to the wide expansion of e-commerce over the preceding years. The wide availability of internet facilities has also contributed to the development of this segment. In terms of end-user industry, the clickstream analytics market is fragmented into the following sets: banking, financial services & insurance, telecommunication & IT, retail & e-commerce, media & entertainment, transportation, health care, and others. Retail & e-commerce is anticipated to register high growth owing to the rising purchasing power of consumers coupled with the increasing demand for online shopping.
Geographically, the clickstream analytics market is distributed over North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America held a major market share in 2016 and is projected to retain its position over the forecast period, driven by the growing adoption of web analytics solutions, considerable technological developments, and the wide presence of vendors in this region. Asia Pacific is poised to be lucrative over the forecast period owing to the substantial investment in technology by the developing countries in this region. Government initiatives to develop smart cities are likely to have a positive impact on the growth of clickstream analytics in Asia Pacific. Japan, China and India are likely to occupy a dominant share in the region’s clickstream analytics market over the next few years. Middle East & Africa is estimated to a developing market for clickstream analytics over the forecast period. Investments to develop Big Data technology is likely to propel the demand for clickstream analytics market in this region.
Key players in the clickstream analytics market include Adobe Systems, International Business Machines Corporation, Google, Inc., Microsoft Corporation, Oracle Corporation, Hewlett Packard Enterprise, AT Internet, SAP SE, Splunk Corporation, Verto Analytics Oy, Vlocity Inc., and Webtrends Corporation.
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