In a recently published report, Web Analytics Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Web Analytics Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Web Analytics Market is valued at approximately USD 3.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 19.3% over the forecast period 2020-2027. Web analytics is extensively utilized to pursue and scrutinize the user’s collaboration patterns with the website as they connect and stream information or data. This process includes the collection, assessment, and coverage of web data created from these interfaces that deliver perceptions on the demand and interest of customers. Further, web analytics also help to improve marketing strategies through the data collected from mobile web data to interpret the customer’s geographic distribution. This will help the marketers to enhance their marketing strategies accordingly the demographics basis. The aforementioned factors are expected to drive the growth of the web analytics market in the forthcoming years. Moreover, in the recent outbreak of the COVID-19 crisis, several business organizations, particularly in highly affected countries are allowing their employees to work from home to ensure business continuity. With the growing number of employees working from home resulting in rise in demand for online video watching, downloading, and interaction through video conferencing, all of which are leading to increased network traffic and data usage, which ultimately enhance the utilization of web analytics.
Therefore, this factor is further influencing the growth of the web analytics market in the forthcoming years. Furthermore, the increase in the number of social media users in the developed and developing economies, along with the rise in trend of online shopping are the few factors responsible for the CAGR of the market during the forecast period. For instance, according to the Global Digital Report 2019, the total number of social media users was estimated at 3.484 billion in 2019 across the globe, demonstrating an increase of 9% year-on-year (YoY). This, in turn, is expected to strengthen the market growth all over the world. However, data privacy and security concern are one of the major factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Web Analytics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to the constant growth in online shopping and marketing automation, coupled with the rising preference toward online data-driven businesses in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing penetration of the internet with a rise in the number of social users and surging demand for mobile analytics would create lucrative growth prospects for the Web Analytics market across the Asia-Pacific region.
Major market player included in this report are:
Adobe Systems Inc.
AT Internet
Facebook Inc.
Google LLC
Hotjar Ltd
IBM Corporation
Microsoft Corporation
SAS Institute Inc.
Splunk Inc.
Webtrends Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Deployment:
On-Premises
Cloud
By Application:
Social Media Management
Targeting and Behavioural Analysis
Display Advertising Optimization
Multichannel Campaign Analysis
Online Marketing
Others
By End-User:
Banking, Financial Services, & Insurance (BFSI)
Retail
Healthcare
Travel & Hospitality
IT & Telecommunications
Media & Entertainment
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Web Analytics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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