Global Web Analytics Market to Reach US$ 13.2 Billion by 2028, Fueled by Expanding Digital Transformation Across Various Sectors

August 21, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “­­Web Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global web analytics market size reached US$ 4.9 Billion in 2022. Web analytics refers to collecting, measuring, analyzing, and interpreting data from the web to understand and optimize web usage. It's an integral part of digital marketing and business strategies, enabling organizations to gauge the effectiveness of their online presence, campaigns, and content. Web analytics tools provide insights into visitor behavior, user experience, website performance, and conversion rates. They can track metrics such as page views, bounce rates, click-through rates, user demographics, and more. These data points allow businesses to understand their audience better, tailor content to user preferences, and enhance overall user engagement. Advanced web analytics also incorporates predictive analytics, real-time tracking, and integrations with other data sources for more comprehensive insights.
 

Global Web Analytics Market Trends:

The global web analytics market is witnessing substantial growth, primarily fueled by the increasing emphasis on digital transformation across various industries. Besides this, web analytics tools, which enable businesses to track, measure, and understand their web traffic and user behavior, have become indispensable in creating a favorable outlook for market expansion. Moreover, the rapid expansion of e-commerce and online advertising is promoting the demand for sophisticated analytics solutions to optimize marketing strategies and customer engagement. In confluence with this, ongoing advancements and the incorporation of innovative artificial intelligence (AI) and machine learning (ML) technologies with web analytics are further propelling the market growth. These advancements enhance the predictive capabilities of analytics tools, offering insights into consumer behavior and trends that can be leveraged to refine business strategies and improve customer experiences. Concurrently, the rise of mobile internet usage is generating enormous amounts of data and presenting new avenues for web analytics, thus influencing the market growth. In addition to this, the expanding need for improved privacy and security of customer data is acting as another significant factor. Furthermore, with stringent regulations such as the European Union's (EU) General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), companies are investing in advanced analytics solutions that ensure compliance while providing meaningful insights. This, in turn, is favoring the market growth. Apart from this, the growing digital literacy rates, wider internet accessibility, and the proliferation of digital devices are escalating the amount of web activity, thus fueling the need for web analytics. Looking forward, the market value is projected to reach US$ 13.2 Billion by 2028, expanding at a CAGR of 17.9% during 2023-2028.
 

Market Summary:

  • On the basis of the offering, the market has been divided into solution (search engine tracking and ranking, heat map analytics, marketing automation, behavior based targeting, and others) and service (professional services and support and maintenance).
  • Based on the deployment mode, the market is bifurcated into on-premises and cloud-based.
  • On the basis of the application, the market has been segregated into social media management, targeting and behavioral analysis, display advertising optimization, multichannel campaign analysis, online marketing, and others.
  • Based on the end user, the market is categorized into BFSI, retail, healthcare, government, travel and hospitality, IT and telecommunications, media and entertainment, and others.
  • On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some of the key players being Adobe Inc., AT Internet, Google LLC (Alphabet Inc.), International Business Machines Corporation, Microsoft Corporation, MicroStrategy Incorporated, SAS Institute Inc., Splunk Inc., Tableau Software LLC (Salesforce.com Inc.), Teradata Corporation and Webtrends Inc.
     

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Offering, Deployment Mode, Application, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Adobe Inc., AT Internet, Google LLC (Alphabet Inc.), International Business Machines Corporation, Microsoft Corporation, MicroStrategy Incorporated, SAS Institute Inc., Splunk Inc., Tableau Software LLC (Salesforce.com Inc.), Teradata Corporation and Webtrends Inc.
Customization Scope 10% Free Customization
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Global Web Analytics Market to Reach US$ 13.2 Billion by 2028, Fueled by Expanding Digital Transformation Across Various Sectors
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