E-commerce Analytics Market Size, Share, Growth, and Industry Growth, By Type (B2C E-commerce and B2B E-commerce), By Application (Sellers and E-commerce Operators), Regional Forecast To 2031

Updated On: 08 April 2024

E-commerce Analytics Market Report Overview

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The global e-commerce analytics market size was USD 14.54 billion in 2021. As per our research, the market is projected to touch USD 56.16 billion in 2031, exhibiting a CAGR of 14.51% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with e-commerce analytics experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The understanding and dissemination of significant patterns in data produced by online retail establishments are referred to analytics of e-commerce. Through the analysis, administration, and appropriate sorting and interpretation of the vast amounts of data collected, the use of E-commerce analytics can assist in appropriate and informed judgments. People's purchasing power is growing in tandem with their disposable income, which is on the rise. The consumers' preference for ordering goods online from retailers and e-commerce sites since it is more convenient and saves time is fueling the market's expansion.

The global population of smartphone users is growing as internet usage becomes more widespread. Among the many e-commerce possibilities available to the client base that uses the internet more frequently are financial services, e-tailing, travel and leisure, digital content, and travel. Consequently, it is anticipated that consumer technical awareness would have a favorable effect on the market expansion. The need for speedier surfing has increased connectivity, which has sped up the development of 4G and 5G technology.

COVID-19 Impact: Pandemic Led to A Rise in E-Commerce Shopping

The COVID-19 virus outbreak had a favorable effect on the market expansion in 2020. The government's announcement of the implementation of pandemic restrictions has caused an enormous increase in e-commerce sales in 2020. Due to the spread of the epidemic, consumers and shoppers were moving online, which resulted in a large increase in the use of e-commerce analytics services. Major online retailers and businesses have started using cutting-edge and innovative cloud-related services that are being offered by several major companies, including Microsoft and others. Moreover, the market growth in 2020 has been significantly influenced by the growing management of big data.

LATEST TRENDS

"Rapidly Expanding Urbanization to Drive Market Trend"

One of the main reasons influencing the market's growth is the world's rapid urbanization. Additionally, rising internet usage and access to e-commerce portals through devices like smartphones, laptops, and tablets are accelerating industry expansion. The use of e-commerce analytics reduces infrastructure, communication, and overhead expenses by allowing companies to conduct business without having a physical presence. Additionally, driving the industry are women's increased preference for online shopping and the growing influence of social media platforms on customers' shopping choices. Online retail stores provide clients a hassle-free shopping experience and a wide range of products to choose from, all at affordable costs. the rise of private-label items and direct-to-consumer business models is also forecasted to augment e-commerce analytics market growth.

E-commerce Analytics Market Segmentation

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• By Type Analysis

By type, the market is segmented into B2C e-commerce and B2B e-commerce.

• By Application Analysis

Based on application, the market is classified into sellers and e-commerce operators. 

DRIVING FACTORS

"Rapid Adoption of 4G and 5G Technology to Bolster E-Commerce Analytics Demand"

the implementation of 4G and 5G technology for connectivity purposes as it gives the user a continuous, seamless experience, which is anticipated to positively impact market growth. The customer's exposure to online purchasing is also growing as a result of the huge growth in smartphone penetration. As a result, it is anticipated that increasing smartphone usage will fuel market expansion during the projection period.

"Rising Number of Enterprises to Surge Market Growth"

Over the forecast period, an increase in the number of small and medium-sized businesses is also anticipated to drive up demand. Small and medium-sized firms are expanding quickly. Start-up India and Make in India initiatives have expanded the number of start-ups in the nation, which is predicted to adopt the internet marketplace for commerce and are driving market expansion. Additionally, over the course of the forecast period, increasing consumer wealth is anticipated to aid market expansion. Due to lower infrastructure and communication costs, established businesses and huge corporations gravitate toward online commerce. E-commerce makes it simpler for the company to reach its clients, resulting in essential exposure to the market. E-commerce is also fueled by

RESTRAINING FACTORS

"Lack of Technical Implementation In Developing Areas To Affect Market Growth"

The development of the market is anticipated to be hampered by the absence of technical infrastructure in rural parts of nations like India, China, and Brazil. Moreover, the rising cases and threats of hacking and data breaches may create a challenge for the customer.  

E-commerce Analytics Market Resional Insights

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North America to Lead the Global Market Due to the Advancements in Big Data Analytics

North America is expected to hold a lion-sized part of the e-commerce analytics market share due to the advancements in big data and DevOps analytics for the analytics of e-commerce for customers. 

Europe is predicted to experience rapid growth accredited to the expanding awareness of overconsumption and the customer being specific about product quality. 

KEY INDUSTRY PLAYERS

"Key Players Focusing On Advanced Technology Development to Grow in the Market"

Participants in the e-commerce analytics market are expanding the adoption of advanced business intelligence and analytic tools to make their operations effective, maximizing profits to obtain a competitive edge over their rivals, which is expected to play a role in supporting the market growth. Threats of hacking and data breaches, which could jeopardize order information, customer information, and other crucial data, and serve as a brake on the market's expansion.

Additionally, throughout the projected period, the market expansion will be supported by the rising acquisitions, investments, and engagement of industry players in order to enhance these solutions and expand their usage.

List of Market Players Profiled

• Torus Sphere Inc. (U.S.)
• Praxis Metrics (U.S.)
• TIBCO Software Inc. (U.S.)
• Adobe (U.S.)
• DataWeave Software Pvt. Ltd. (India)
• Looker Data Sciences Inc. (U.S.)
• Happiest Minds (India)
• Microsoft (U.S.)
• Sisense Inc. (U.S.)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for stem cells to show potential investment areas. The market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.