Clickstream Analytics Market – Overview
Businesses globally have become increasingly data hungry, as they are constantly trying to tap new resources, so as to improve their business transactions. Market Research Future, a firm which specializes in market reports related to the information and communication technology sector among others, recently published a report on this market. The global clickstream analytics market is expected to grow its revenue to USD $1.3 Billion by 2023, while growing at an 11% CAGR in the forecast period.
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 has been segmented on the basis of type, application, services, end users and region.
By Type: Software, services and others
By Services: Managed services, professional services consulting services, deployment and integration, support and maintenance
By Application: Click path optimization, website/application optimization, basket analysis and personalization, traffic analysis and others
By Deployment: On premises and on demand
By End-User: Government, BFSI, travel and hospitality, telecommunications and IT, retail and e-commerce, energy and utilities, media and entertainment, transportation and logistics and others.
By Region: North America, U.K, Europe, Asia Pacific (APAC), Rest of the World (ROW)
Clickstream analytics market has shown huge potential in the eCommerce sector with a huge amount of consumer data along with adoption of mobile technology providing multiple digital touch points. On-Premise solutions are more popularly being adopted as compared to on demand.
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Detailed 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.
Global Competitive Analysis
The new industry players in the segment are undergoing a trend of solid, volume-driven growth which has been observed in the market. This has spurred on the addition of new and advanced products. Companies are aiming to solidify their share of the market segment, by competing with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies. The major players in the clickstream analytics market are – Adobe Systems (US), AT Internet (US), Google (US), IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), SAP SE (Germany), Connexity (US).
Latest Industry News
April 2017 ActionIQ, which helps marketing employees navigate big data without having to write code, had announced a new $13 million round led by Sequoia Capital. The startup provides software as a service (SaaS) to connect a business’ multiple data sources, such as email, CRM, and clickstream, and centralize them onto one single analytics dashboard.
Mar 2017 Ptotem Tech has announced the launch of all-new QuoDeck, an end-to- end product for gamified learning and hosting. The QuoDeck 2.0 is the world’s first one-stop Software as a Service (SaaS) solution that integrates content, game and platform authoring. The platform allows tracking the user’s performance by recording and analyzing data on the user’s involvement, path and behavior during their game play. Organizations benefit from getting clickstream analytics gaining insights into their employee’s performance and behavior as well as how effective their content is.
Nov 2017 Verto Analytics, the consumer-centric measurement company, announced a continued market momentum with a 48 percent increase in month-to-month revenue since the beginning of Q1/2017. The company's growth has been largely fueled by a high demand for research and measurement solutions that help brands and publishers overcome the challenge of media fragmentation. Verto was also recognized as a leading player in the global clickstream analytics market for 2017 by a research group.