– Rise in e-commerce and acceptance of mobile technology fuel the growth of the global clickstream analytics market
PORTLAND, Oregon, Feb. 19, 2020 /PRNewswire/ — Allied Market Research recently published a report, titled, “Clickstream Analytics Market by Component (Software and Services), Deployment (On-premise and Cloud), Application (Click Path Optimization, Website/Application Optimization, Customer Analysis, Basket Analysis & Personalization, Traffic Analysis, and Others), and Industry Vertical (BFSI, Telecom & IT, Travel & Hospitality, Retail & eCommerce, Government, Energy & Utilities, Media & Entertainment, Transportation & Logistics, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026“. According to the report, the global clickstream analytics industry accounted for $868.8 million in 2018, and is anticipated to reach $2.56 billion by 2026, registering a CAGR of 14.8% from 2019 to 2026.
Chief reasons for market fluctuations
Increase in e-commerce and adoption of mobile technology drive the growth of the global clickstream analytics market. However, data privacy and cyber security hampers the market growth. On the contrary, emerging trend of predictive marketing is expected to create lucrative opportunities in the industry.
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The software segment dominated the market
Based on component, the software segment held the largest share in 2018, contributing to nearly four-fifths of the global clickstream analytics market. This is attributed to the rise in demand for software analytical tools among the end users due to its cost-efficient benefits. However, the services segment is expected to register the fastest CAGR of 16.3% during the forecast period, owing to the rise in demand for all-in one suite analytics service.
The cloud segment to portray fastest growth by 2026
Based on deployment, the cloud segment is expected to register the fastest CAGR of 18.2% during the forecast period, owing to the rise in cloud migration activities, and increase in number of cloud service providers. However, the on-premise segment dominated the global clickstream analytics market in 2018, accounting for more than two-thirds of the market. The on-premise solutions are secure due to restricted storage accessibility, which drives the growth of the segment.
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North America to lead throughout the forecast period
The market across North America held the largest share in 2018, accounting for around one-third of the market. The compatible infrastructure of the region, and rise in need to stay ahead in the global market propels the growth of the region. On the other hand, the region across Asia-Pacific is expected to register the fastest CAGR of 17.2% from 2019 to 2026. This is attributed to the factors such as increase in digitalization, advent of big data, emergence of technologies, and proliferation of cloud technology.
Major market players
Verto Analytics Inc.
Adobe Systems Incorporated
Hewlett Packard Enterprise
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