Clickstream analytics is a procedure through which a user can visualize clickstream data for analytical or research purposes. A clickstream refers to the translation of user activity on a particular website wherein the user clicks on a computer display screen and the action gets transformed into a web activity. Clickstream analytics is a crucial part of e-commerce market research which can be used to track various other activities within an organization. Its rising adoption in e-commerce is predicted to fuel the demand for it over the forecast period on account of the unprecedented growth of consumer data coupled with the implementation of numerous mobile technology facilitating touch points.
The transformation from conventional to digital techniques is likely to gain traction resulting in augmented demand for clickstream analytics over the forecast period. Exponential growth in the volume of data is expected to drive the clickstream analytics market over the next few years. Clickstream analytic solutions have been increasingly organized across various industry verticals such as telecommunication, financial sector, energy, transportation, and health care.
Growth in digitalization technologies in the emerging economies of Asia Pacific is likely to be a driver of the clickstream analytics market. Emerging trends of Big Data technology and improvement of internet based facilities is likely to drive the growth of clickstream analytics market over the forecast period.
The market is segregated by service into the managed and professional categories. Professional services are further sub-segmented into the following divisions: support & maintenance, deployment & integration, and consulting. On the basis of type, the clickstream analytics market is divided into the software and services segments.
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Software accounted for a major market share in 2016 and is expected to retain its position over the forecast period. Based on usage, the clickstream analytics market is split into the following groups: website/application optimization, click path optimization, customer analysis, traffic analysis, basket analysis & optimization, and others.
Basket analysis & optimization is anticipated to register major growth over the forecast period due to the wide expansion of e-commerce over the preceding years. The wide availability of internet facilities has also contributed to the development of this segment. In terms of end-user industry, the clickstream analytics market is fragmented into the following sets: banking, financial services & insurance, telecommunication & IT, retail & e-commerce, media & entertainment, transportation, health care, and others.
Retail & e-commerce is anticipated to register high growth owing to the rising purchasing power of consumers coupled with the increasing demand for online shopping.