The global clickstream analytics market is forecast to reach USD 2.71 Billion by 2026, according to a new report by Reports and Data. The growing popularity of omnichannel retail channels among customers leaves behind vast trails of digital footprints when they engage in e-commerce interactions. These digital footprints or data logs comprises of large amount of hidden trends to tell the story of add to carts, views, checkouts likes, and checks every point of the shopping journey. Analysis of this data allows retailers and online marketers to understand the interactions of the customers with the brand and gain insights to optimize their business. These insights enable them to find, target, or retain their ideal customers in a better way.
Clickstream Analytics can be used as an essential tool to generate valuable business information from the data logs collected from online platforms. However, collecting, analyzing, and churning the data from these data records in an optimal time frame is quite challenging. The collected data logs in semi-structured formats often introduce complexity, additional costs, and delay in analytics generation. However, the lack of scalability, associated high prices, and storage optimization may hinder the demand for technology.
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Further key findings from the report suggest
- Among the end uses, the customer data analysis accounts for the largest market share of ~28% in the year 2018. The technology can be used for integrating data with the use of algorithms and artificial intelligence for forecasting future consumer trends. It is used to find the buying behavior and analyze the needs and preferences of the consumers. Moreover, it is the analysis of the way the customers interact with the business.
- Market research is forecasted to witness the highest growth rate of 16.9% during the forecast period. The technology can be used for market research to reduce the risks of failures by analyzing the product, price, and marketing. It can also help companies with information regarding the value chain and the resources required.
- Among the components, the solutions accounted for a larger market share of ~54% in the year 2018. The solutions are used by end-use industries such as operations, human resources, financial, IT, marketing, and sales, among others.
- The services segment is forecasted to witness a higher growth rate of 15.8% during the forecast period. The segment is further classified into managed and professional services.
- North America held the largest market share of ~30% in the year 2018. The growing investments in digital payments and e-commerce are governing the market in the region. The region has adopted new and advanced technologies at a very early stage. High penetration of cloud technology, the internet of things, machine learning, artificial intelligence, and big data, among others, are propelling the market in North America. Moreover, the region is a hub for significant market vendors who are increasingly launching new products in the market.
- Key participants include Vlocity Inc, Connexity Inc, Jumpshot Inc, SAP SE, Splunk Inc, IBM Corporation, Hewlett Packard Enterprise Company, Microsoft Corporation, Oracle Corporation, Adobe Inc, Talend Inc, Webtrends Inc, Google LLC, AT Internet, and Verto Analytics Inc, among others.
Segments covered in the report:
End-Use Outlook (Revenue, USD Million; 2016-2026)
- Software Testing
- Market Research
- Customer Data Analysis
- Employee Productivity Analysis
Component Outlook (Revenue, USD Million; 2016-2026)
Deployment Mode Outlook (Revenue, USD Million; 2016-2026)
Organization Size Outlook (Revenue, USD Million; 2016-2026)
- Small and Medium Sized Enterprise
- Large Enterprises
Industry Vertical Outlook (Revenue, USD Million; 2016-2026)
- Healthcare and Life Sciences
- Retail and E-commerce
- IT and Telecommunication
- Transport and Hospitality
- Banking, Financial Services, and Insurance (BFSI)
On the basis of regional analysis, the market is segmented into key geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. According to the analysis, North America is expected to dominate the market with the highest market share. Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.
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Beneficial Aspects of the Report:
- Global and region forecast of the Clickstream Analytics market from 2020-2027
- In-depth analysis of market dynamics, industry outlook, market size based on types and applications
- Details of value chain analysis, supply and demand ratio, production and consumption patterns
- SWOT Analysis, Porter's Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide a better understanding of the market and competitive players
- Detailed insights on competitive landscape and emerging market trends
The market report is formulated on the basis of data obtained through extensive primary and secondary research. The data is further validated and verified by industry experts, research analysts, and professionals. The report considers regional demand and supply ratio, investments, market dynamics, capacity, end-use industry trends, and consumer behavior to generate a forecast report. The data is collected from verified sources such as government policies, regulatory published materials, journals, trade magazines, and verified data sources. The report uses advanced analytical tools such as SWOT Analysis, Porter's Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide an accurate insight into the market scenario and competitive landscape. This report provides beneficial information to companies and new players to make lucrative business decisions. The market estimates and forecast data have been thoroughly verified through exhaustive primary research.
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