(Wireless-NewsWire.Com, June 03, 2021 ) As per report "Clickstream Analytics Market by Application (Click Path and Website Optimization, Customer Analysis, Basket Analysis and Personalization, Traffic Analysis), Type, Organization Size, Deployment Model, and Vertical - Global Forecast to 2022", the global clickstream analytics market is expected to grow from USD 750.3 Million in 2017 to USD 1,560.6 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 15.8% during the forecast period.
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The major factors driving the clickstream analytics market are the rise in eCommerce leading to unprecedented growth in consumer data and rapid adoption of mobile technology providing multiple digital touchpoints. The market is growing rapidly because of the transformation from traditional techniques to digital techniques and the massive surge in the volume of clickstream data.
Basket analysis and personalization is expected to grow at the highest CAGR
The clickstream analytics market is segmented by business application into click path optimization, website/application optimization, customer analysis, basket analysis and personalization, traffic analysis, and others (competition analysis and next best product analysis). The rise and development of eCommerce has propelled rapid growth in clickstream data volumes. Customers have wider access to internet, and with increase in the purchasing power of customers, the demand for basket analysis and personalization is rapidly gaining traction.
Retail and eCommerce is estimated to have the largest market size in 2017
The clickstream analytics market is also segmented by vertical into retail and eCommerce; media and entertainment; telecommunications and IT; travel and hospitality; Banking, Financial Services, and Insurance; transportation and logistics; government; energy and utilities; and others (manufacturing, healthcare and life sciences, and education), out of which the adoption rate of clickstream analytics is expected to be the highest in the retail and eCommerce vertical, as the volume and variety of clickstream data is increasing day-by-day with the growing demand of online shopping and increased purchasing power of the customer.
North America is expected to dominate the clickstream analytics market during the forecast period
North America is estimated to hold the largest share of the clickstream analytics market in 2017 due to the technological advancements and early adoption of web analytics solutions in the region. The market in Asia Pacific (APAC) is expected to grow at the highest CAGR during 2017–2022. The main driving forces for this growth are increasing technological adoption and huge opportunities across verticals in the APAC countries, especially India, China, and Japan.
The report also encompasses different strategies, such as acquisitions, partnerships, collaborations and agreements, expansions, and new product launches and product developments, adopted by the major players to increase their share in the market. Major clickstream analytics vendors include 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).
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Mr. Aashish Mehra