Clickstream Analytics Market Emerging Trends, Opportunities and Growth Analysis to 2023 | COVID-19 Impact
Clickstream Analytics Market Emerging Trends, Opportunities and Growth Analysis to 2023 | COVID-19 Impact
Market Highlights
Clickstream analysis are increasingly being utilized and relied upon so as to improve consumer experiences online. High rates of adoption of the sector are one of the key factors that are positively influencing demand of the market. The boom of the ecommerce sector has also been especially beneficial to the sector. Ecommerce sites rely heavily on clickstream analysis to predict consumer buying behavior and provide possible suggestions based on their online behavior. Clickstream analysis as an information harvesting function is highly valued by businesses leading to high levels of market growth.
The global clickstream analytics market is expected to exhibit a strong 11% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global clickstream analytics market is expected to reach a valuation of USD 1.3 billion by 2023, according to the report. The report presents a detailed analysis of the major drivers and restraints affecting the global clickstream analytics market and presents a detailed forecast of the likely impact of these factors on the market over the forecast period. The major players operating in the global clickstream analytics market are also profiled in the report in order to provide readers with a clear overview of the competitive landscape of the global clickstream analytics market. The impact of the COVID-19 pandemic on the global clickstream analytics market is also studied in the report.
A clickstream, also known as a click path, is a list of URLs a user visits. The study of the path a user takes through the internet can reveal significant data about the user’s preferences and choices. Thus, clickstream analytics has emerged as a highly valuable tool for companies looking to exploit a user’s internet history in order to present them with relevant options for shopping and other activities. Clickstream analytics can be used as a powerful tool to create data logs that can be collated and analyzed for future use. However, gathering relevant and useful insights from these data logs can be quire challenging, as the data logs can be in a semi-structured format. This can cause significant delays in the analysis of data logs, as well as increasing the cost of the operations. This is a key restraint on the global clickstream analytics market. The complexity of these data logs is also a key restraint on the global clickstream analytics market. However, companies in the global clickstream analytics market are constantly working to make clickstream analytics and data log analysis easier and more convenient. So, further developments are expected in this field in the coming years.
The growing demand for ecommerce is a major driver for the global clickstream analytics market. Ecommerce sites find clickstream analytics highly useful, as they can present the users with relevant shopping options based on their search history. Clickstream analytics also take into account when a user visits certain webpages. This information can also present ecommerce websites with useful analytics as to what a user prefers and when to present which options to them.
Segmentation:
The global clickstream analytics industry is segmented on the basis of type, service, application, deployment, end user, and region.
By type, the global clickstream analytics market is segmented into software, services, and others. The software segment holds a major share in the global clickstream analytics market and is likely to retain its key share over the forecast period. The services segment is also an important part of the global clickstream analytics market.
By service, the global clickstream analytics market is segmented into managed services, professional services, consulting services, deployment and integration, and support and maintenance.
By application, the global clickstream analytics market is segmented into click path optimization, website/application optimization, basket analysis and personalization, traffic analysis, and others.
By deployment, the global clickstream analytics market is segmented into on-premise and on demand.
By end use vertical, the global clickstream analytics market is segmented into government, BFSI, travel and hospitality, IT and telecommunications, retail and ecommerce, energy and utilities, media and entertainment, transportation and logistics, and others.
Regional Analysis:
The regional analysis of clickstream analytics market includes region such as Asia pacific, North Americas, Europe and Rest of the World. Technological advancements and early adoption of web analytics solutions in ease of clicking and browsing the leftover page that is stored in the system for further use in future has driven the market of clickstream analytics in North America and is estimated to hold the largest share of the clickstream analytics market. The study reveals that Europe region is also showing the relatively good growth in the clickstream analytics market. Asia-Pacific countries like China, Japan and India are indicating the positive sign towards highest point in the forecast periods as the massive adoption of clickstream technology in these countries.
Key Players
Leading players in the global clickstream analytics market include Vlocity Inc., Webtrends Corporation, Verto Analytics, Talend, Splunk, Jumpshot, Hewlett Packard Enterprise, Connexity, SAP SE, Oracle Corporation, Microsoft Corporation, IBM Corporation, Google, AT Internet, and Adobe Systems.