Analytics Market Projected to More than Double by 2019

Analytics are among the most important tools on the Web.

Without them, businesses of all sizes would have no insight as to how their products and services were selling, how many people interacted with advertisements or even how many people visited their sites. 

MarketsandMarkets has announced the release of a new study that details the expanding market of Web analytics today and where it is headed in the future.

The report, titled “Web Analytics Market by Solution & Services – Worldwide Forecasts,” states that the market will rise from $1.33 billion in 2014 to $3.09 billion in 2019 at a compound annual growth rate (CAGR) of 18.3 percent.

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Another interesting finding in the report is that not only does North American account for the largest market share compared to all other regions in 2014 but it is expected to be the largest market in terms of revenue contribution in 2019.

The report lists Adobe Systems, Google, Splunk and Yahoo among the major suppliers of Web analytics.