Clickstream analytics tools enable enterprises realize crucial benefits, such as cutting losses, creating new opportunities, saving costs by ensuring uninterrupted operations, and increasing efficiency by analyzing clickstream data in real time.
MarketsandMarkets forecasts the global clickstream analytics market to reach USD 1,560.6 million by 2022, at a Compound Annual Growth Rate (CAGR) of 15.8% during the forecast period (2017–2022). The major growth drivers of the clickstream analytics market include rise in eCommerce leading to unprecedented growth in consumer data and rapid adoption of mobile technology providing multiple digital touchpoints.
Many organizations across various verticals have been utilizing clickstream analytics tools to enhance their decision-making abilities. However, there are two specific aspects of various industries that make clickstream analytics a perfect fit for them. First, the growing market pressures, such as global rivalry, regulations, slender margins, and quickened design cycles, which compel organizations to have the capacity to take quick decisions based on clickstream data. Second, owing to rapid digitization, more customers have wider access to internet and thus more clickstream data is generated, which requires the use of robust clickstream analytics tools for real-time analysis. Hence, organizations are adopting clickstream analytics tools to gather valuable insights that would simplify and streamline the decision-making process in real-time.
Clickstream analytics solutions are used widely by major verticals globally, such as retail and eCommerce; media and entertainment; telecommunications and IT; travel and hospitality; Banking, Financial Services, and Insurance (BFSI); transportation and logistics; government; energy and utilities; and others (manufacturing, healthcare and life sciences, and education), for various business needs. The retail and eCommerce vertical is expected to grow at the highest CAGR during the forecast period.
The region-specific market analysis includes industry trends, market potentials, and market forecasts on the basis of types, services, applications, deployment models, organization sizes, and verticals. The global clickstream analytics market is witnessing a rapid growth in various emerging economies in Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). The North American region is expected to have the largest market share over the next five years, followed by Europe. APAC is expected to be the fastest growing region in the clickstream analytics market during the forecast period. Globally, clickstream analytics adoption is increasing due to the growing amount of clickstream data. Companies such as Adobe Systems (US), AT Internet (US), Google (US), IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), and SAP SE (Germany) offer competitive clickstream analytics product portfolios across the regions.