Clickstream analytics is a method of automating the process of collecting data pertaining to the number of visits to a webpage and the order of visits and analyzing it to generate actionable website development insights. The path followed by a website visitor and the mouse clicks used to pursue the path is referred to as clickstream.
There are two primary levels in clickstream analytics, namely e-commerce analytics and traffic analytics. E-commerce analytics collects clickstream data to analyze the effectiveness of a website as a channel-to-market. Clickstream analytics for e-commerce focuses on the pages that a visitor lingers on, products added to or removed from cart, product purchases, use of coupon codes or loyalty programs, and preferred made of payment. Traffic analytics is performed on the server level and it tracks the number of pages served to the visitor, the time taken by each webpage to load, use of stop or back button in the browser, and volume of data transmitted before the visitor moves on.
Impact of Ongoing COVID-19 Pandemic on Clickstream Analytics Market
The e-commerce industry has been hit hard by the stringent lockdowns legislated by national governments on a global level. National government bodies in key countries like India, China, Brazil, Spain and Italy are experimenting with complete lockdowns, partial lockdowns and curfews to restrict COVID-19 infection from spreading.
Delivery of goods and services has been restricted in such nations, which is in turn affecting revenue generation of e-commerce giants and SMBs. However, Internet usage has increased significantly as citizens are being forced to stay indoors. Large e-commerce businesses are banking on clickstream analytics to harness the surge in Internet penetration and analyze customer sentiments to plan out long-term strategies.
Clickstream Analytics: Market Drivers and Challenges
High demand for clickstream analytics technology is being observed on a global level owing to the ever-growing e-commerce industry and high penetration of Internet. Huge volumes of unstructured website visitation data is gathered using clickstream analytics. Therefore, many e-commerce businesses are procuring Big Data analytics platforms, such as Hadoop, in order to interpret the collected data and generate reports and actionable insights which could be used to enhance webpages and user experience. Solution providers are deploying clickstream analytics platforms in conjunction with traditional market evaluation and dedication resources. This factor is estimated to continue propelling the adoption of clickstream analytics solutions and services during the forecast period.
However, clickstream analytics technology is still emerging into mainstream development, due to which, performance expectations vary among different end-users. The only way of deducing whether a clickstream analytics solution fulfills specific operational needs is through trial and error. Due to this challenge, e-commerce businesses are unable to gain actionable insights, which in turn affects their decision making and customer experience. This factor is projected to suppress market growth during the forecast period.
Clickstream Analytics Market: Segmentation
The global clickstream analytics market can been segmented on the basis of component and application.
With respect to component, the global clickstream analytics market may be segmented into:
With regards to application, the global clickstream analytics market may be segmented into the following:
Clickstream Analytics Market: Competition Landscape
Some of the key players in the global clickstream analytics market are Adobe, AT Internet, Alphabet Inc. (Google), IBM, Microsoft, Oracle, SAP and Connexity, among others. Huge investments are being made for research and development of new solutions and tools which can support cloud-integrated platforms. Companies are entering into partnerships with Big Data analytics solution providers to deploy IoT systems and digital services. For instance, in November 2018, Microsoft partnered with Moovit, an urban mobility data and analytics and transit application company, to integrate Moovit’s public transit data to Microsoft Azure Maps.
Clickstream Analytics Market: Regional overview
Currently, clickstream analytics market in North America leads the global market, followed by the market in Europe. This dominance may be attributed to the early adoption of Big Data analytics software solutions and services in the regional markets. The clickstream analytics market in North America is estimated to continue dominating the global clickstream analytics market throughout the forecast period. However, clickstream analytics market in Asia Pacific region is estimated to record the fastest growth rate, among all the regional markets. Booming e-commerce industries and high Internet penetration in Southeast Asia Pacific economies like India and Australia, and East Asian countries like China, Japan and South Korea, will enable the regional market to record the fastest growth rate during the forecast period.
The Clickstream Analytics market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
Regional analysis includes: