Web Analytics Market Drivers, Demand, and Insights 2024-2033

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The Web Analytics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Web Analytics Global Market Report 2024, The web analytics market size has grown rapidly in recent years. It will grow from $6.46 billion in 2023 to $7.7 billion in 2024 at a compound annual growth rate (CAGR) of 19.1%. The growth in the historic period can be attributed to increasing online presence, globalization of businesses, e-commerce boom, data-driven decision-making, rise of mobile usage.

The web analytics market size is expected to see exponential growth in the next few years. It will grow to $16.27 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The growth in the forecast period can be attributed to emphasis on privacy, cross-channel integration, personalization and customer experience, real-time analytics, emergence of new platforms. Major trends in the forecast period include cybersecurity concerns, AI and machine learning integration, technological advancements, advanced analytics techniques, privacy and compliance concerns.

The growing demand for online shopping trends is significantly driving the growth of the web analytics market. Web analytics plays a crucial role in providing personalized product recommendations and identifying the shopping trends of the users and also helps marketers to run successful marketing campaigns. For instance, in 2019, 1.92 billion people purchased products online, with eCommerce sales making up 14.1% of total retail sales globally. Retail eCommerce transactions are predicted to increase from 14.1% to 22% by 2023. Web analytics is more important as online shopping trends grow, which allows businesses or marketers to learn more about their customers. Therefore, the growing demand for online shopping trends drives the market for web analytics.

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The web analytics market covered in this report is segmented –

1) By Organization: Large Enterprises, Small And Medium Enterprises

2) By Application: Online Marketing, Email Marketing, Social Media Management

3) By End User: Retail, Manufacturing, Information Technology, Other End Users

Major companies in the web analytics market are focusing on developing innovative solutions, such as cloud-native analytics software solutions, to enhance network performance and improve customer experience. A cloud-native analytics software solution is a platform designed and optimized to perform data analysis, leveraging cloud infrastructure and architecture for seamless scalability, flexibility, and efficiency. For instance, in February 2023, Nokia, a Finland-based corporation operating in the fields of telecommunications, information technology, and consumer electronics, launched AVA Customer and Mobile Network Insights. This offers a cloud-native analytics software solution, utilizing AI and machine learning for simplified 5G network data collection and analysis. This launch augments the web analytics market by providing a comprehensive tool that not only streamlines data processing but also empowers businesses to optimize campaigns across various channels through the creation of data products exposed via open APIs.

The web analytics market report table of contents includes: