Web Analytics Market worth $3.09 Billion by 2019
Web Analytics market is expected to grow from $1.33 billion in 2014 to $3.09 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 18.3% from 2014 to 2019. LA and MEA regions are growing rapidly with CAGRs of 28.4% and 25%, respectively from 2014 to 2019.
Web Analytics Market, web analytics services market
Web analytics track and analyze the data and behavior of visitors, customers or buyers on the company’s web page, social page, ads or marketing campaign and brings the insight to customer’s behavior. It provides the real time interaction with customer and reveals the insight buried in data and each and every customer interaction. Web analytics consists of marketing automation, search engine tracking and ranking, heat map analytics and behavior based targeting solutions. All this solution helps to gather information and helps to give an insight regarding what customers or clients actually think about their company, which in turn will help the enterprise to react effectively and quickly.
The high demand of web analytics has led to the invention of new technologies and solutions. Web analytics can be implemented for various purposes such as social media, targeting and behavioral analysis, display advertising optimization, multichannel campaign analysis and performance monitoring. All this applications of web analytics helps the companies to plan and publish relevant contents, ads and marketing campaigns to target the potential customers and convert them into buyers by gaining insight about their behavior.
MarketsandMarkets has broadly segmented the web analytics market by solutions marketing automation, search engine tracking and ranking, heat map analytics and behavior based targeting solutions; by services: professional services and support and maintenance services; by applications: social media management, targeting and behavioral analysis, display advertising optimization, multichannel campaign analysis and performance monitoring , and others; by deployment type: on-premise and on-demand; by verticals: banking, financial services and insurance (BFSI), consumer goods and retail, healthcare and life science, government, telecommunication and Information Technology (IT), media and entertainment, travel and tourism and others; by regions: North America (NA), Europe, Latin America (LA), Asia-Pacific (APAC), and Middle East and Africa (MEA).
MarketsandMarkets believes that data privacy and regulatory laws and open source solution provision are the major issues in the web analytics market. These challenges are restraining the enterprises and customers to adopt web analytics to support a wide range of applications such as social media, search engine and content optimization targeting and behavioral analysis, display advertising optimization, mobile website and application tracking, multichannel campaign analysis and performance monitoring and other applications.