Clickstream Analytics Market

Industry Overview

The global Clickstream Analytics Market is projected to grow from USD 0.6 billion in 2023 to USD 1.29 billion by 2030, growing at a CAGR of 11.26% during the forecast period.

The growth of the global clickstream analytics market is quite significant and the primary reason behind it is the growing changeover from orthodox systems to advanced analytics and e-commerce techniques. Also, the growing adoption of e-commerce across a wide range of industry verticals facilitates this growth. Moreover, there is a notable development in multichannel marketing platforms, helping business organizations overcome the challenges.

The use of clickstream analytics helps organizations simplify the creation of cross-channel campaigns and execute them. This enables them to use several channels on a single platform. As a result, more and more e-commerce organizations are using clickstream data to determine the efficiency of the site as a conduit to market. 

In addition, it also helps them to store information regarding customer’s choice of products and the time they spend on adding a particular product to their cart. Apart from that, it also helps them track products purchased by a customer irrespective of belonging to a loyalty program along with their favored mode of payment.

In short, clickstream analytics helps business organizations a great deal in collecting useful data in large volumes and using big data analytics and other allied tools to interpret and generate reports based on a particular area of interest.

Market Segmentation

Insight by Component

According to the component, the global clickstream analytics market is divided into software and services. The services segment is further divided into professional and managed services, with the professional services category having other subdivisions, such as consulting, support, deployment, maintenance, and integration.

However, out of the services and software categories, the services market will grow more during the forecast period because large as well as small and medium-sized enterprises will be outsourcing consulting services to third-party vendors.

Insight by Business Application

According to the business applications, the global clickstream analytics market is divided into customer analysis, traffic analysis, basket analysis, personalization, application or website optimization, click path optimization, and more.

Out of all these categories, the basket analysis and personalization segment is expected to grow more during the forecast period. The click path optimization application is also expected to contribute larger revenue to the global clickstream analytics market.

Insight by Deployment Model

According to the deployment model, the global clickstream analytics market is divided into on-premise or on-demand models, where the latter is supposed to grow at a higher rate than the former during the forecast period because the solutions are hosted by third-party vendors and not on the premises of the customers.

Insight by Organization Size

According to the size of the organizations, the global clickstream analytics market is divided into large enterprises and small and medium-sized enterprises. Of these two categories, the small and medium enterprises segment is expected to grow more during the forecast period due to the rise in popularity of specific analytics solutions such as customer analysis and traffic analysis.

Insight by Vertical

According to the industry vertical, the global clickstream analytics market is divided into BFSI, IT and telecom, retail and e-commerce, media and entertainment, transportation and logistics, government, energy and utilities, travel and hospitality, and more.

Out of all these segments, the retail and e-commerce segments will have the largest market share due to the growing need for clickstream analytics software and services to ensure proper growth of business and make the best use of higher internet penetration in the e-commerce industry. This will help the business a lot in traffic and customer analysis.

Global Clickstream Analytics Market Report Coverage

Industry Dynamics

Growth Driver

The main factor that drives the growth of the global clickstream analytics market is the increased adoption and use of mobile technology. This allows users to have multiple digital touchpoints.

Another significant factor for the growth of the global clickstream analytics market is the rapid conversion from conventional techniques to digital techniques as well as the significant increase in the volume of clickstream collected data by using specific technologies such as tags, cookies, and Software development Kits (SDKs). The technology helps businesses collect different types of data such as the pages visited, timestamps, device types, referring URLs, and user demographics.

The solutions help businesses to track user response to the content and the pages and also see the reactions of the readers to their products. By predicting the tastes and preferences of the customers, businesses can design better strategies, create better site development processes, and enhance business functioning.

Furthermore, the ability of this technology to store and process data more efficiently irrespective of their volumes by using big data technologies and analytical tools helps businesses to gain meaningful insights regarding customer behavior, patterns, trends, and anomalies.

Therefore, businesses can now use this technology for behavioral analytics using different visualization techniques such as reports, dashboards, and charts to know much more than Click-Through Rates (CTRs) and page views. They can know about customer journeys, user intent, and segmentation.

All these propel the adoption of more efficient clickstream analytics due to machine learning and AI algorithms and propel the growth of the global clickstream analytics market.

Growth Opportunity

The growth opportunity of the global clickstream analytics market is mainly created by the increasing usage of direct and indirect multichannel marketing. This is because such a form of marketing helps businesses reach a larger audience more effectively. The technology helps them in better targeting, segmentation, and positioning.

Challenges

The governing rules and regulations are quite strict in several countries, which somewhat hinders the growth of the global clickstream analytics market. In addition, other requirements for data collection, identification, real-time analysis, and the presence of open-source vendors also pose significant challenges to the global clickstream analytics market. However, these are expected to be handled and dealt with during the forecast period to ensure the growth of the global clickstream analytics market.

Geographic Overview

North America is the largest contributor to the clickstream analytics market due to the high demand for it, significant technological developments, and early adoption of web analytics solutions. 

The Asia-Pacific region, on the other hand, is expected to grow at a reasonably fast rate during the analysis period because there is significant growth in the e-commerce industries and rapid technological advancements that are creating more opportunities for various industries in countries such as China, India, and Japan.

Major Key Players Covered in the Report

Adobe Systems Incorporated, AT Internet, Alphabet Inc, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Connexity Inc, Hewlett Packard Enterprise Company, Jumpshot Inc, Splunk Inc, Talend S.A, Verto Analytics Inc, Webtrends, Vlocity Inc.

Recent Developments by Key Players

JUL 14, 2023 - AWS has launched a new service called Clickstream Analytics on AWS, which is an end-to-end solution to collect, analyze, ingest and visualize clickstream data inside organizations’ web and mobile applications. Organizations can keep their data in their AWS account's security and compliance perimeter and customize the processing and analytics to their requirements using this new solution.