High Growth for Clickstream Analytics Market Predicted in the Coming Years

Clickstream analytics solutions let the business users access clickstream data volumes and analyze them to get insights even though they lack data science and analytical skills. Clickstream data helps in gaining valuable information regarding the online behavior of the customers, enabling them to optimize their business with better pricing strategies and remain competitive in the market.

The global clickstream analytics market that was estimated to be worth USD 750.3 Million in 2017 is projected to be valued at USD 1,560.6 Million by 2022, growing at a CAGR of 15.8% during the forecast period 2017-2022.

Among applications, the click path optimization application is estimated to account for the largest market share over the forecast period, whereas the basket analysis and personalization application is expected to witness the highest growth ahead.

Based on verticals, retail and eCommerce vertical is expected to dominate the market with the largest share in 2017 as well as grow at the highest CAGR during the forecast period. This growth is being majorly driven by the rising need for eCommerce across the globe since it helps in cutting inevitable losses, create new opportunities, cost saving, and enhance efficiency by analyzing clickstream data in real time.

Geographical growth scenario of the market

The North American market for clickstream analytics is expected to hold the largest share in 2017, owing to the advancements in technology and early adoption of web analytics solutions. The market in North America, followed by the European market, is expected to continue witnessing an upward trend for clickstream analytics players over the next five years. This is mainly because of the enterprises in the U.S. and Canada that actively focusing on innovations obtained from R&D and technology. However, the market in Asia-Pacific is expected to be the fastest-growing market because of the growing adoption of eCommerce and smart technologies, and various government initiatives, such as smart cities across countries in this region such as China and India, which are creating huge opportunities across various verticals.

Drivers and restraints impacting the market growth

The growth of the global market for clickstream analytics is being primarily governed by the following factors:

  • Growth of eCommerce leading to a remarkable growth in consumer data
  • Rapid adoption of mobile technology that provide multiple digital touchpoints
  • Adoption of digital techniques over traditional techniques
  • Surging volume of clickstream data

Apart from these, multichannel marketing and rising trend of predictive marketing is expected to further create ample opportunities for the growth of this market.

However, laws and regulations regarding data privacy and presence of open source clickstream analytics vendors are the two main factors that are likely to hamper the growth of this market. Moreover, collection of data and identifying business requirements and analysis of real-time clickstream data are the key challenges to be tackled by the leading market players operating in this market.

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Key players and growth strategies adopted

The major players that offer software and services for clickstream analytics are Adobe Systems (US), AT Internet (US), Google (US), IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), SAP SE (Germany), Connexity (US), Hewlett Packard Enterprise (US), Jumpshot (US), Splunk (US), Talend (US), Verto Analytics (Finland), Webtrends Corporation (US), and Vlocity, Inc (US). These companies are adopting various organic and inorganic growth strategies, such as new product launches and product upgradations, partnerships, collaborations, and agreements, and acquisitions in order to expand their global presence in the market as well as to achieve sustained growth.

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