Market Analysis:
The clickstream analytics market is growing rapidly due to the rising demand for faster and more accurate data collection and management processes. Especially, the burgeoning e-commerce sector worldwide is a major clickstream analytics market dynamics. According to Market Research Future (MRFR), the global clickstream analytics market is poised to reach an exponential valuation by 2030, growing at an impressive CAGR throughout the forecast period (2021-20230).
The proliferation of Digital Technologies is a Major Clickstream Analytics Market Trend
Over the years, the digital technology field has expanded significantly. The rapid expansion in the e-commerce field and the adoption of mobile technology are key factors increasing digital touchpoints. Moreover, the increasing popularity of smart connected devices creates substantial market demand. Therefore, the clickstream analytics market growth has been huge in the recent past.
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Lack of Technical Expertise and the High Initial Investments Restrict the Market Growth
Technical incompetencies and the high initial investment required to implement clickstream analytics are key factors obstructing the market growth. Nevertheless, advances in business intelligence, real-time data stream analytics, and machine learning would support the market growth throughout the assessment period.
Covid-19 Impact on the Market
Covid-19 impacted the clickstream analytics market hugely. As many people stayed at home most of the time, the average screen time of people increased significantly. Due to the covid-19 guidelines, people weren’t allowed to go out, which boosted the eCommerce industry and hence the uses of clickstream analytics.
Clickstream Analytics Market - Segmentation
The clickstream analytics market forecast is segmented into types, services, applications, developments, end-users, and regions. The type segment is sub-segmented into software, services, and others. The services sib-segment is further bifurcated into managed services, support & maintenance, professional services, consulting services, deployment & integration, and others.
The application segment is sub-segmented into traffic analysis, click path optimization, basket analysis & personalization, website/application optimization, and others. The deployment segment is sub-segmented into on-premises and on-demand.
The end-user segment is sub-segmented into IT & telecommunication, media & entertainment, travel & hospitality, retail & e-commerce, government, and others. The region segment is sub-segmented into Americas, Europe, APAC, and the Rest-of-the-World.
Clickstream Analytics Market - Regional Analysis
North America dominates the global clickstream analytics market. The market growth is driven by the presence of major clickstream solution providers and well-established technology development centers in the region, allowing the early adoption of advanced technologies. Besides, the proliferation of smartphones and connected devices drives the clickstream analytics market growth.
Moreover, the wide adoption of these solutions in the well-established defense sector and traffic management applications increases the region’s clickstream analytics market size. The growing demand for comfort and safety features in the region creates opportunities for market players. With their advanced clickstream technologies, the US and Canada account for considerable clickstream analytics market shares.
Clickstream Analytics Market - Competitive Landscape
Highly competitive, the clickstream analytics market appears to be fragmented, with several well-established players forming a competitive landscape. They strive to deliver reliable, leading-edge solutions and services. Therefore, they invest substantially in R&D to develop adept technologies. Major market players initiate approaches such as mergers & acquisitions, innovation, and expansion. Also, they continuously upgrade and launch new solutions and services, especially in emerging economies.
Major Players:
Players leading the clickstream analytics market include Oracle Corporation (US), Splunk (US), Talend (US), Adobe Systems (US), Verto Analytics (Finland), SAP SE (Germany), AT Internet (US), Google (US), IBM Corporation (US), Webtrends Corporation (US), Vlocity, Inc (US), Connexity (US), Hewlett Packard Enterprise (US), Jumpshot (US), and Microsoft Corporation (US), among others.
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Industry/ Innovation/Related News
September 30, 2020 ---- Amazon Web Services, Inc. (AWS – the US), an Amazon.com company, announced the general availability of Amazon Timestream, a new time-series database for IoT and operational applications. The new solution can scale processes by 1,000 times faster than relational databases and at as low as 1/10th the cost.
Amazon Timestream’s analytics features provide time series-specific functionality to help customers identify trends and patterns in data in near real-time. This can help customers with overwhelming data buried in industrial equipment, website clickstream logs, data center infrastructure, and many other places, managing complex time-series data at scale and low cost.
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