The global session replay software market is estimated to garner a revenue of ~USD 1100 million by the end of 2031 by growing at a CAGR of ~12% over the forecast period, i.e., 2022 – 2031.
Further, the market generated a revenue of ~USD 300 million in 2021. The market is estimated to grow on the back of increasing demand for session replay software to fast-track digital data and the rising growth of the e-commerce industry. As per recent data, by the end of 2030, the Indian e-commerce market is expected to reach a valuation of ~USD 340 billion. Furthermore, the total worldwide retail e-commerce sales stood at around ~USD 4.7 trillion in 2021, and by the end of 2025, this figure is expected to grow by 48%, reaching around ~USD 7.2 trillion.
Source – Research Nester
Get more information on this report: Request Sample PDF
The global session replay software market is also estimated to witness growth on account of increasing digitalization among small and large enterprises to bring their business online. As per data, in 2018, more than 60% of small businesses have their websites. Moreover, increasing small and medium enterprises are expected to boost the market growth in the coming years. In the United States, the number of online businesses started in 2020 was around 4.2 million, up from 3.2 million new online businesses in 2019, according to recent statistics.
Rising Trend of Online Shopping – As per recent data, in 2021, approximately 9 million Australian citizens have shopped online.
Increased Internet Penetration – As per data by World Bank, individuals using the internet in terms of percentage of population was around 60% in 2020, up from 54% in 2019.
Increasing Adoption of Customer Relationship Management Tools – Organizations use customer relationship management (CRM) tools to provide a better customer experience. According to statistics, around 70% of the respondents said that CRM tools give them a better understanding of a customer's data, enabling them to provide a more personalized service.
Government Support Policy and Investments – As per data by the India Brand Equity Foundation, in the Union Budget of 2022-23, around USD 11.58 billion was allocated to India’s IT and telecom sector.
Implementation of Data Driven Approach by Business Organization –According to recent statistics, organizations implementing data-driven approaches are 22 times more likely to attract new customers. Moreover, data-driven businesses have an average growth rate of around 28% per annum.
The session replay software market is segmented and analyzed for demand and supply by deployment type into cloud based and on-premises. Out of these segments, cloud-based segment is anticipated to garner the largest market share over the forecast period, owing to the increasing adoption of cloud-based services amongst organizations. Cloud-based session replay software provides assistance in analyzing customer experience, from website visits to conversions. It also includes providing high value and qualified insight into the UX of the website. According to recent statistics, more than 75% of organizations have adopted a multi-cloud strategy and about 65% of the organization's infrastructure is cloud-based. Such a factor therefore estimated to fuel the segment growth.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Regionally, the global session replay software market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is projected to hold the largest market share by the end of 2031. This can be accredited to the rising adoption of session replay software in the large enterprises. According to statistics, in 2020, the number of large enterprises present in the United States was approximately 20,000. Moreover, increasing demand for website and content optimization along with capabilities of session replay software to eliminate the data inaccuracies are estimated to foster the market growth in the region.
Further, the market in the Asia Pacific is estimated to gain the significant growth during the forecast period, owing to the increasing demand for better customer experience along with growth of online sales in the region. As per recent data, in China, approximately 23% of retail sales were made online in 2021. In India, around 138 million people have shopped online in 2021 and this figure is projected to cross ~500 million online shoppers in India by the end of 2030, as per recent data. Such a factor, therefore, is projected to drive the market growth in the region during the forecast period.
Get more information on this report: Request Sample PDF
The global session replay software market is further classified on the basis of region as follows:
Our in-depth analysis of the global session replay software market includes the following segments:
By Deployment Type
FREQUENTLY ASKED QUESTIONS
Growth of ecommerce industry and increased adoption of Customer Relationship Management tools are estimated to majorly boost the market growth.
The market is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2022 – 2031.
Session replay software may affect user device performance and is estimated to challenge the market growth.
The market in North America is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are Inspectlet, Inc., Mouseflow, Inc., Smartlook.com, s.r.o, Lucky Orange, LLC, Glassbox Ltd., Content Square SAS, MouseStats Analytics Inc., Auryc, Inc., Dynatrace LLC and Hotjar Limited.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by deployment type, application and by region.
The cloud-based segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
Select License Type
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization