The clickstream analytics is a process through which a user can visualize clickstream data for analytical & research purposes. A clickstream refers to the translation of user activity on a specific website wherein the user clicks on a computer display screen and action gets transformed into a web activity. Clickstream analytics is a key part of e-commerce market research which can be used to track several other activities within an organization. These analytic solutions have been increasingly organized across various industry verticals such as financial sector, telecommunication, transportation, energy, and health care.
According to study, “Clickstream Analytics Market by Component (Software and Services), Deployment (On-premise and Cloud), Application (Click Path Optimization, Website/Application Optimization, Customer Analysis, Basket Analysis & Personalization, Traffic Analysis, and Others), and Industry Vertical (BFSI, Telecom & IT, Travel & Hospitality, Retail & eCommerce, Government, Energy & Utilities, Media & Entertainment, Transportation & Logistics, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026”. Some of the key companies operating in the global clickstream analytics market are Adobe Systems Incorporated, Hewlett Packard Enterprise, Google LLC, IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, Talend, Splunk Inc., and Verto Analytics Inc.
On the basis of component type, clickstream analytics market is segmented as software component and services component. Services are further sub-segmented as managed and professional services. Professional services include support & maintenance, deployment & integration and consulting services. Consulting services segment dominates the market owing to rise in need of clickstream analytics solutions across organizations. On the basis of business application, market is segmented as click path optimization, customer analysis, traffic analysis, website or application optimization, basket analysis & personalization and others. On the basis of deployment model, market is segmented as on-demand deployment model and on-premise deployment model. In addition, on the basis of industry vertical, market is segmented as telecom & IT, BFSI, travel & hospitality, government, retail & ecommerce, energy & utilities, transportation & logistics, media & entertainment, and others. Retail & e-commerce segment is predicted to register high growth due to increase in purchasing power of consumers coupled with rise in demand for online shopping during the forecast period.
The clickstream analytics market is driven by growth in adoption of mobile technology, followed by rise in ecommerce. However, data privacy and cyber security may impact the market. Moreover, emerging trend of predictive marketing and multichannel marketing are key opportunities for market.
Based on geography, the North-American is a leading region in global clickstream analytics market owing to considerable technological developments, growth in adoption of web analytics solutions, and the wide presence of vendors in the region. Whereas, the Asian-Pacific and European regions are estimated to exhibit considerable growth rate due to growth in adoption of ecommerce and smart technologies, and various government initiatives, for instance smart cities across the APAC countries, including India and China over the forecast period. In near future, it is anticipated that the global clickstream analytics market will be reached at quick pace because of rise in investments to develop big data technology during the forecast period.
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Ankur Gupta, Head Marketing & Communications